First Time Home Buyers Nassau County

Mortgage and Lending with USDA / FHA Mortgage Source

Did you know the USDA loan program is one of the best…and only fixed rate zero down payment mortgages? The USDA Rural Housing program is available for any qualified first time home buyer in Florida. Unless you have VA benefits, the USDA program is the only housing program that permits 100% financing in Florida.  Oh, and the best part is you don’t need to worry about taking any school/class, or applying for any “first time buyer” housing grant or down payment assistance. In addition, the USDA 502 guarantee loan is available to any eligible homebuyer, you are not required to be a first time buyer.  Get pre approved today, and close on a home in as little as 45 days, it’s that simple.

The USDA housing guidelines pretty flexible but may change in regards to approved locations over the next year,  so take advantage of this program now before it's too late. Also, there are no loan limits but income limitations do apply based on the Florida county you are going to purchase the home in, and your family size. Finally, USDA program offers low annual fee which is less than mortgage insurance on an FHA loan so you are able to put $0 down and obtain a lower payment than FHA loan with a 3.5% min down payment. Please visit read all the USDA FAQ’ here and be sure to contact us with any questions at 904-302-6060


The primary borrower must have 2 credit scores and the co-borrower can have only one score. The minimum credit score is 640 and you may qualify for the program with a limited credit history. For example, one credit account with a 12 month history and a 12 month rental history may be enough credit history to qualify for this program. 


There are income restrictions and USDA will consider the income of a spouse, a girlfriend or boyfriend, and family members who earn income in the household toward the maximum income limit even if any of these individuals are not on the loan. Check income eligibility. Also, overtime and bonus as well as any other variable income will be averaged over the last 2 years and considered for eligibility and possibly qualifying purposes.


The loan requires NO down payment but there are closing costs which can be paid by the seller or financed into the loan amount if the home appraises higher than the purchase price. Also, cash reserves are not required in most situations since the home buyer need little to no money to close!


All installment debts with 6 months or less does not count against you in the debt ratio. The maximum debt allowed is 44% of your gross monthly income which includes mortgage plus auto, personal, and student loan payments (even if deferred) as well as minimum credit card payments. Furthermore, if your debt ratio is too high then you should pay off the debt you need to qualify PRIOR to buying a home and allow 30 days for the credit bureaus to report these items as being paid off.


The home must be located in eligible area and it should be in decent move-in condition. Otherwise, repairs on the home will need to be completed prior to closing. This can sometimes be a challenge with bank owned homes, foreclosures. Also, homes in rural areas may require well and septic inspections. Finally, acreage should be typical for the area and no working farms or income producing properties may be considered for USDA program. 

Any Florida first time home owner who want to utilize the 100% USDA program and learn about eligibility should seek a mortgage company that has experience with these type of loans. The guidelines and procedures are different than other government home loan program.  FL homebuyers that want to get started with their USDA home loan application should call us at Ph:904-302-6060 or visit us at 


We are open 7 days a week, serving all of Florida including  Nassau County 7 days a week including, Amelia Island, Bryceville, Callahan, Fernandina Beach, Hilliard, Yulee

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