USDA & FHA Mortgage Source

So you are a homebuyer that has already been in contact with a lender and has an FHA loan preapproval all ready to go.  Now you are hearing about this other loan called USDA Rural Housing that seems better?  Well.. is it really better? The short answer is YES, assuming you meet the eligibility cr...

Please see the Florida USDA 502 Guarantee Program income limits for 2015 below - FLORIDA COUNTIES 1- 4 person household 5 – 8 person household       All Florida counties EXCEPT those listed below: $74,750 $ 98,650 Clay, Duval, Nassau, St Johns $77,400 $102,150 Collier $83,750 $110,550 Manatee and...

Please see our 2015 USDA mortgage monthly payment calculator at http://www.usdamortgagesource.com/blog/  see the lower right side. This USDA mortgage payment calculator includes monthly real estate taxes, home owners insurance and the monthly USDA annual fee ( more commonly known as monthly mortg...

Many Florida first time buyers like to get prepared for the their USDA home loan applicationwell in advance. Not a bad idea since the home buying process is a very important decision.  Even if you are still 6 months or more away from purchasing, the USDA Rural Housing loan qualifying tips below s...

Time is running out for Florida homeowners to take advantage of the USDA Pilot Refinance program.  The rural housing “pilot” refi program is set up to expire soon.  This program allows homeowners that have existing USDA mortgages to refinance and take advantage of lower interest rates. Even if ho...

We frequently receive questions about the USDA pre approval process and the time frame. In addition, homeowners often ask how long their inital USDA RD approval letter is valid for?  First, the actual loan application and pre approval process only takes 15 min or so to complete.  Once you are pre...

USDA Rural Housing announced today that the monthly mortgage insurance costs or “annual fee” will be increasing slightly for any closings after October 1 2014.  Please note this only impacts the monthly mortgage insurance costs or “PMI” as also known. The one-time 2% Guarantee fee charged will re...

So how does a first time buyer get  pre-approved for a mortgage here in Florida? Florida has started revealing indications of home buying recovery over the last few years. It is really a buyer's market right now and a great time to find out if you are a candidate for a 100% USDA Rural mortgage. I...

Florida Teachers have many great home loan benefits available to them. One of the most popular home financing options for Teachers is without a doubt the 100% USDA housing loan.  USDA Rural Housing is one of the last mortgage programs that still allow Florida teachers to purchase homes with no do...

We receive many questions each week asking about the latest 2015 USDA loan requirements and guidelines. Please read below for the basic USDA mortgage guidelines for 2015. As always, please contact us at ph: 904-302-6060 with questions. USDA Credit score -  640 min credit score is required. No re...