What You Need To Know About Florida USDA Loans in Highlands County?
What Is a Highlands County USDA Loan?
A USDA loan is a rural housing loan program allowing homebuyers to purchase a home with No Down payment! The U.S. Department of Agriculture offers USDA loans through the USDA Single Family Housing Guaranteed Loan Program.
This USDA loan program’s goal is to provide affordable financing to eligible rural areas with a focus on low-to-moderate income households. The USDA loan program is eligible in many Florida cities and counties.
USDA loans represent the only other loans with no down payment requirements in Florida other than a VA loan
The USDA Loan Program offers many advantages which include:
No Down Payment: Unlike FHA and Conventional loans which require a minimum down payment, USDA loans allow for 100% financing which helps reduce the amount of money needed to purchase a home in Florida.
Home Repair Financing: USDA Loans provide for the ability to finance certain eligible repairs into your loan and then be completed after closing!
Roll In Closing Costs: USDA Loans provide for the ability to finance and include closing costs into your loan when the appraised value is higher than the sales price! This is a great way to save on out-of-pocket expenses when the situation allows.
How Do USDA Home Loans Work?
USDA loans allow homebuyers to purchase a primary residence provided the home is ineligible USDA areas and for those applicants that meet USDA income limits. Applicants can build or purchase a home on eligible rural land in Florida and receive affordable financing.
USDA Loans offer flexible credit qualifying which allows you to qualify for a USDA in Florida much sooner after a bankruptcy, foreclosure, or short sale when compared to a conventional loan. USDA home loans help homebuyers with significant housing needs.
As a Florida-approved USDA lender, Metroplex Mortgage Services, Inc. is proud to serve our rural communities and help walk homebuyers through the USDA loan approval process step-by-step.
Who Can Apply for a Florida USDA Home Loan?
Those who meet the eligibility requirements for a USDA loan can apply. Everyone from low-income individuals to moderate-income families can apply if they meet qualifications for USDA loan eligibility. The program doesn’t limit buyers with challenged credit, but USDA does require that minimum credit standards be met.
Florida USDA Eligibility Requirements
In addition to staying within income limits, program members must meet other requirements to be eligible for the USDA loan program which includes. These requirements include:
- Purchasing a primary residence (no second homes or investment property)
- Eligible USDA Florida property types include single-family homes, townhomes, and villas.
- Meet Minimum Credit Requirements
- Documenting stable and dependable Income
Applicants with no credit history can still qualify for a USDA loan by utilizing non-traditional credit payment histories such as utility bills, phone bills, or rental history.
Under the USDA Single-Close feature, it provides a USDA Construction to Permanent Loans for homebuyers to build on eligible locations.
Highlands County USDA Home Loan Benefits
The USDA Loan program is sought after in Florida because of the many flexible benefits it offers, such as:
- Affordability: Because USDA allows for No Down Payment, the seller to pay up to 6% of the sales price towards the buyer’s closing costs, and applicants may also finance closing costs into the loan amount if the appraisal is higher than the sales price, these are features that help reduce the cost of purchasing a home.
- Secure: USDA loan offers fixed-rate 30-year loan terms and a low annual fee.
- Accessible: USDA allows for flexible credit qualifying.
- Cost-effective: A USDA loan has lower borrowing costs when compared to FHA loans.
- No Loan Limits: USDA loans have no set program loan limit.
At Metroplex Mortgage Services, we help borrowers in Florida take advantage of these benefits and others looking to qualify for a USDA loan. We are excited to share the benefits of Florida’s USDA loan program and help our rural communities understand and maximize the USDA loan program.
Why Choose Metroplex Mortgage Services – Florida USDA Approved Lender
It is critical to work with a USDA Approved Lender who understands the USDA program from A to Z. We are proud to be a Florida-approved USDA Lender!
As a top USDA Approved Lender in Highlands County, we offer lending services and can help you qualify for a Florida USDA Loan. Our extensive knowledge of mortgage lending can open up many opportunities for prospective homeowners. Choosing Metroplex Mortgage Services means you get a reliable partner throughout the USDA loan qualification process.
At, Metroplex Mortgage Services we can help walk you through the USDA loan program in Highlands County and maximize the many benefits offered under this unique program. Whether you want to buy a house or build on eligible USDA land, we can help you navigate the process. Our friendly experts are available to answer your questions.
Don’t wait to find out if you’re eligible for a Florida USDA loan! Just call or email to discuss your scenario and let us show you the “Metroplex” difference!
(800) 806-9836 X 280 firstname.lastname@example.org