Florida Usda Rural Home Loan
Florida is a great state to take advantage of the Florida USDA rural home loan. The average household income limits for a Florida USDA home loan in the state is around $74,000. As you look for rural housing options in the Sunshine State, you will get government funded loans in the form of a Florida USDA home loan that will cover all that you are looking for. USDA loans are not just for Florida farmers; great number of areas located all over Florida is entitled for the loan. Even communities outside major metropolitan areas with less than 20,000 residents are qualified for the loan.
Major benefits and features of Florida USDA rural home loan are:
- • No Florida loan amount restrictions.
- • $0 down payment.
- • 100% finance available.
- • Low income families and those with flawed credit may qualify for the loan.
- • No assets needed to qualify for the loan.
- • Flexible credit guidelines.
- • Competitive, fixed interest rates.
- • These loans are for new and existing properties.
- • Property must be located within the eligible rural area.
- • You must meet basic credit requirements.
- • One must live in any rural area throughout Florida to be qualified for these USDA home loans.• Cannot exceed the income level established for your county by the USDA as “low income.”
- • Property must be in an approved rural area.
- • You cannot own another home within the commutable distance of the home you wish to buy.
- • Must repay loans and mortgages.
- • Candidate must not have any debt or non-tax debt.