Orlando, Florida USDA Loans

By
Mortgage and Lending with Waterstone Mortgage - The Wellington Group

When Congress passed legislation earlier this year eliminating seller funded down payment assistance programs, the availibility of 100% financing programs was reduced to only those qualified for a mortgage through the Veterans Administration, and one other little known mortgage program, offered through the United States Department of Agriculture.

The USDA program offers 100% financing with no mortgage insurance.  It does have limits, with the two main restrictions being geographic and a cap on household income.  However, there is good news about the income limits.

Effective January 20th, 2009, households with less than 4 people will have an income limit of $70,750, and households between 5-8 people will have an income limit of $93,400.  These expanded limits will open up the USDA Program to a much wider group of potential home buyers.

Use the link below to check state and county maps for geographic and property eligibility.

http://eligibility.sc.egov.usda.gov

To learn more about this program call me directly at 407-644-0870.

Mike Smalley, CMPS

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