USDA Pilot Refinance

By
Mortgage and Lending with USDA / FHA Mortgage Source

The USDA Pilot Refinance program is still available to Florida homeowners that currently have USDA mortgages.  The USDA Rural Development Pilot refi is a relief program offered through approved USDA lenders in Florida. Many conventional refinance loans require a certain about of equity in the home to be approved for a refinance. This often presents a major obstacle for many Florida homeowners, especially those living in the hardest hit markets.  The USDA Pilot program lifts this barrier as loan to value ( LTV) or appraised value is no longer important.  In fact the USDA Pilot program is streamlined and does not require a new appraisal or home inspection. So even if you property value is upside down or underwater, your still eligible.  Let's look below at the USDA Pilot refinance requirements and benefits:

 

USDA Pilot Refinance Benefits:

  • Lower payment, mortgage interest rates are currently near historic low levels.
  • Closing costs can be financed, rolled into the loan. No out of pocket costs to the borrower.
  • No appraisal or home inspection needed.
  • Borrower does not have to credit qualify or debt ratio. Min paperwork is needed, streamline process.
  • Never leave your home, even the closing can be done in your home!

 

To be eligible for the USDA Pilot Refinance program:

  • The homeowner must have originally obtained a USDA Guaranteed Loan via an approved lender. Regardless of where you currently send your monthly mortgage payment  ( Chase, Bank Of America, Regions, SunTrust)  We can assist you.  If you have another type of mortgage like FHA, VA or Conventional - there are different refinance options reserved for you.  Please contact us for more details on the FHA streamline refinance or VA IRRRL mortgage.
  • The income for the household must be below the USDA income limits found here. This same rule applied when the home was originally purchased.
  • On time mortgage payments for the 12 month period prior to the refinance.

 

 

Homeowners with questions, please call us 7 days a week at 904-302-6060 and be sure to visit  USDA Mortgage Source

 

Serving - 

Alachua County - Gainesville

Baker County - Macclenny

Bay County - Panama City

Bradford County - Starke

Brevard County - Titusville

Broward County - Fort Lauderdale

Calhoun County - Blountstown

Charlotte County - Punta Gorda

Citrus County - Inverness

Clay County - Green Cove Springs

Collier County - Naples

Columbia County - Lake City

De Soto County - Arcadia

Dixie County - Cross City

Duval County - Jacksonville

Escambia County - Pensacola

Flagler County - Bunnell

Franklin County - Apalachicola

Gadsden County - Quincy

Gilchrist County - Trenton

Glades County - Moore Haven

Gulf County - Port St. Joe

Hamilton County - Jasper

Hardee County - Wauchula

Hendry County - LaBelle

Hernando County - Brooksville

Highlands County - Sebring

Hillsborough County - Tampa

Holmes County - Bonifay

Indian River County - Vero Beach

Jackson County - Marianna

Jefferson County - Monticello

Lafayette County - Mayo

Lake County - Tavares

Lee County - Fort Myers

Leon County - Tallahassee

Levy County - Bronson

Liberty County - Bristol

Madison County - Madison

Manatee County - Bradenton

Marion County - Ocala

Martin County - Stuart

Miami-Dade County - Miami

Monroe County - Key West

Nassau County - Fernandina Beach

Okaloosa County - Crestview

Okeechobee County - Okeechobee

Orange County - Orlando

Osceola County - Kissimmee

Palm Beach County - West Palm Beach

Pasco County - Dade City

Pinellas County - Clearwater

Polk County - Bartow

Putnam County - Palatka

Santa Rosa County - Milton

Sarasota County - Sarasota

Seminole County - Sanford

St. Johns County - St. Augustine

St. Lucie County - Fort Pierce

Sumter County - Bushnell

Suwannee County - Live Oak

Taylor County - Perry

Union County - Lake Butler

Volusia County - DeLand

Wakulla County - Crawfordville

Walton County - De Funiak Springs

Washington County - Chipley

 

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Topic:
Lending / Financial
Location:
Florida
Groups:
All Things Florida
First Time Homebuyer
Consumer Mortgage Tips
Florida First Time Home Buyers
Tags:
usda pilot refinance
usda lenders offering refinance pilot
rural development refi brokers florida
rural housing streamline refinance
usda mortgage companies refinance
banks doing usda refinance

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Jeff W

USDA /FHA Mortgage Source
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