If you are a first time homebuyer or looking to purchase a home with no money down, you are going to get very excited. The USDA has just announced that their Rural Development loans which are available for qualified Buyers at 100% Loan To Value, will now offer reduced rates and fees. This is great news for any Buyer who is looking to move into a qualified USDA-RD area. Here are the details:  From October 1, 2016 through September 30, 2017, fees associated with USDA loans will decrease significantly:

• The Upfront Guarantee Fee will change from 2.75% to 1.0% of the loan amount 

• The Annual Fee will change from 0.50% to 0.35% of the average scheduled unpaid principal balance for the life of the loan 

• Both fees will be effective for Single Family Housing Guaranteed Loan Program (SFHGLP) loans

You and your clients might be surprised by what is considered an eligible USDA property. Most rural areas, small towns, and even suburban communities contain many properties that are eligible for USDA loans. Visit this website to search eligible addresses: http://www.rd.usda.gov/fl

A USDA loan could be the mortgage solution that helps your clients achieve their homeownership dreams. With lower fees, this could also be the ideal time for them to make the move.

USDA loan benefits include:

• No down payment 

• Great rates 

• Better terms than an FHA or conventional loan 

• Flexible credit guidelines mean less-than-perfect credit may still qualify

Contact me today to learn more about program guidelines, and find out if you qualify for a USDA/Rural Development loan!


If you or anyone you know is looking to Sell or Buy a home anywhere in Apopka, Orlando or the Central Florida area, please follow the links below for either an INSTANT Home Value & Market report or a FREE MLS Search of All Homes For Sale on the local MLS System. For more information or a no-obligation consultation, contact Joe Bornstein, Broker, Rock Springs Realty, Cell# 407-252-8092 or Toll Free# 877-333-2811 or joe@rockspringsrealty.com 

Follow this link to do a FREE Search of All Homes For Sale On the MLS:
https://www.rockspringsrealty.com/search/advanced_search 

Curious to what your home is worth? Click this link for an INSTANT Home Value & Local Market Report: 
https://www.rockspringsrealty.com/cma/property-valuation 

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