USDA Home Loans is a government program that makes home loans in areas that are classified as agricultural. These loans are available in large areas of Northeast Florida. The specified areas are available on a government website so you can determine if you’re property is eligible. These are only purchases and a good referral could also come from a licensed realtor. The benefits of USDA loans are:
- Competitive interest rates
- Standardized underwriting
- 30 year amortization
With USDA loans, the government will lend up to 103% of the purchase price, but this loan does have some special quirks. If you are considering this loan program, please call or email Bob Harms and he’ll answer your questions.