The USDA RD Loan - True 100% Financing

Services for Real Estate Pros with Climer School of Real Estate

I was doing USDA RD loans in Florida ( or United States Department of Agriculture Rural Development) back in the ‘good ol days' before the bust. Back when almost no one else was doing them. I couldn't  get anyone in my office to listen to me.

The USDA RD loan in Florida program is true 100% financing, you can finance your closing costs into your loan, your seller can pay for everything, and rates are 30 year fixed and low.

The USDA RD loan in Florida program that I was utilizing for my customers was incredible.  I have helped so many people that I have lost count.

The USDA RD loan in Florida, or anywhere, is even better than FHA or the old Fannie Mae 100% loan!

"Why?" you ask?

1.       The USDA RD loan in Florida, or anywhere, does offer true 100% financing.

2.       There is no limit or cap on the amount of seller credit towards closing costs, prepaids and escrows

3.       The seller can even contribute discount points to lower the rate

4.       Closing costs can be financed in to the mortgage (when was the last time you heard that?)

5.       Rates are low

6.       30 year fixed rate with no prepayment penalty

7.       2-1 Buydowns are available

The number one question I always receive is based on number 4 above. Yes, closing costs can be financed into the USDA RD loan in Florida, or anywhere, loan request.

The base loan amount will be the contract price. Add the closing costs, prepaids, and escrows to that figure. As long as the house appraises for that amount, and the customer can be approved for the higher figure, their mortgage can pay for everything!

The caveats are though, that the property must be in a USDA RD eligible area. These USDA RD loan  eligible areas are outside of the heavier populated metropolitan areas. Some counties are entirely USDA RD loan eligible and some counties are partially USDA RD loan eligible.

Andy Brown 407-472-3443

Contact me and I can let you know in less than 5 minutes.

There is also a household income threshold. For instance, in the Orlando MSA, the income limits are $74,050 for a household of 1 to 4 and $97,750 for a household of 5 to 8.

The limits aren't bad but you have to be careful. Every income that is living in the household will be counted in this aspect, even if they are not on the mortgage loan request.

I have been doing them for so long, I am now an expert in USDA RD loans in Florida. Andy Brown 407-472-3443

And, very recently, we are doing USDA RD loans in Florida in-house here at my office.

Look like a hero to your customers and call me anytime, Andy Brown, "Not just another mortgage guy..." 4047-472-3443, 888-774-4410 ext 232, or email me

I am looking forward to helping you.

Andy Brown, "Not just another mortgage guy..."
Fidelity Funding Mortgage Corp

Comments (3)

Kathy Denworth
Century 21 Schwartz Realty - Islamorada, FL
Realtor in the Florida Keys, Islamorada, Key Largo

I have heard of these. Do they work for properties in the Keys? We are considered to be rural. This could be a very lucrative referral if we qualify. Does it have to be a primary residence?

Oct 31, 2010 08:18 AM
Andy Brown
Climer School of Real Estate - Arctic Bay, YN
Best Real Estate Training in Florida

Hi Kathy,

Unfortunately, all of Monroe county is ineligible, dont' know why.

And the program is for primary residences only.

FYI-I do have an 80% LTV Jumbo loan product (75% for 2nd homes) that is very popular for any of your larger purchases!

Andy Brown
888-774-4410 ext 232

Oct 31, 2010 08:28 AM
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Unfortunately these are not available in most of Silicon Valley, but there are some less-populated pockets where it's possible.

Oct 31, 2010 08:38 AM