USDA Loans in Florida



USDA loans were designed to help Americans buy their dream home and come with a lot of benefits when compared to other loan options. One of the main benefits of the program is its 100% financing option.

This means it’s possible for qualified borrowers to buy their dream home without having to pay any down payment, or any other additional expenses. In fact, lenders can also opt to use a gift or grant towards their mortgage too.

It’s not the USDA Rural Development Office that funds these loans, but there are selected lenders in the different states who loan the money. The USDA gives the lender a repayment guarantee in case the loan defaults.

The other benefits of USDA loans are that the loan comes with a competitive 30-year term, and has fixed interest rates. The reason the lender can offer such competitive rates to qualified individuals is because they have the guarantee of the US government behind them.

The main eligibility criterion for USDA loans is that the person, or family, applying for the loan plans to buy a home that is located in an eligible rural area, and make it their primary residence. The borrower also has to provide some verification stating that they have sufficient income, and a credit history showing that they can and will meet the loan’s repayment obligations.

These eligible rural areas doesn’t mean you’ll be living in some remote place, located miles from civilization. The Moreira Team will help you track down the homes meeting the USDA guidelines, as close to, or far away, from large cities as you would like to be.

We will also assist you through the entire USDA loan process right from the pre-approval to its loan application, processing, underwriting and closing process. With our assistance, you won’t have to worry while applying for USDA loans in Flordia.



Florida County Mortgage Service Areas