The government has provided funding for those residing in designated rural areas. These loans serve as incentives to encourage people to consider living in underdeveloped areas. A map is provided, and is includes regions where USDA funding is available. Most regions in Florida technically qualify for USDA backed loans.
Qualifying for a USDA Loan
The broad access to loans is attributed to the relative lax qualifying standards when compared to other loans. People with less than perfect credit may qualify for a home with 0 percent down due at closing. The lax requirements are often a cause for mortgage brokers to mistakenly revoke an applicant’s loan submission.
Advantages of USDA loans
With these loans, the closing costs are covered by the seller. This lowers the costs associated with purchasing a property. Another advantage is that there are a lot of areas that technically qualify as rural, so prospective homeowners have a lot of options available to them. In being able to buy a property with 0 percent down, prospective buyers can save money when purchasing a property. If there is a short sale, the approval process can be expedited through the USDA loan application process. Within three years of completing a bankruptcy, a person can be eligible for a USDA loans. Your credit score doesn’t necessarily have to be stellar in order to qualify for a USDA loan.
Importance of having a mortgage consultant
Revoked applications are a common occurrence among applicants. For this reason, it is recommended that people consider working with a mortgage consultant who is well-acquainted with the USDA process. The consultant matches you to loans that are affordable and suitable for your needs. In taking time to really understand your financial needs, they can better match you to ideal lending solutions. Our approach to matching prospective buyers to the appropriate lending resources is the primary reason that realtors commonly refer people to us.
We go out of our way to make sure you get the most competitive interest rates and best possible terms, to save you thousands on what could be the biggest purchase of your life. Once you begin working with us, you will see the difference. We make ourselves available outside of business hours and on weekends whenever you have questions that need to be answered. Choosing us ensures that you get the terms you deserve and improves your chances of getting the loan application approved. Other mortgage companies have less flexibility in terms of finding you the best possible interest rates. As a direct lender, we have more options available to us. We can shop interest rates nationwide to find you the best rates.
Our transparent, hands-on approach and expertise is what makes us truly stand out.
We can get you approved for a 0 percent down USDA Home Loan with a competitive interest rate. We’ll work hard to make sure you have an affordable monthly payment.