USDA Loans in Alachua Florida and beyond.
Buying a home with no money down in Alachua? It is
very possible let's talk about it.
Did you know that you can buy a home in
Alachua with no money down?
You can!
Zero down USDA product is available in Alachua and not just Alachua it's
available all over but focusing in on Alachua it's available.
This is an awesome program so let's talk
about what the USDA program is
basically.
Very very simply it's a program that
allows you to buy a home in a rural area
with no money out of pocket so how's
that work.
The restrictions, let's talk about that,
let's get into the restrictions of it
there is an income limit it's based on
how many people live in the house
now that limit changes periodically so
depending on when you read this will
depend on what they actually are so if
you want to find out just reach out to
us and we'll tell you exactly where they
stand.
There's also geographic restrictions. The
geographic restrictions are basically
they want you living in a rural area. It
doesn't mean we're talking about areas
that you're so far out of town you just
can't get into town conveniently we're
talking example Alachua which is just
outside of Gainesville.
Alachua is a city within itself
and a dynamic city so
it's still considered rural though.
Therefore you can get a zero down
program right here. Another cool thing about the USDA
program is if the house appraises higher
than what you're buying it for you can
roll those closing costs into the loan.
Another option you have it has a
reduced mortgage insurance. Now you've
all heard about mortgage insurance and
so many people tell you it's horrible
and all this, but without PMI you
wouldn't get a zero down option or three percent down
option or a three and a half percent
down option or a five or a ten or fifteen.
So it's actually a good thing and it's just
how you structure it and how you look at
it and the USDA is the lowest of them all
and it's no money down.
It only has a one percent funding fee
and that's how they fund all these loans
and that is rolled into the loan.
So again,
you can get a no money down option.
They're designing this to make it as
easy as possible. Now there are closing
costs on loans however again if the
price came in a little higher you can
roll that in or you can get a grant
from a community second such as a Florida
housing or a SHIP program.
Any of those they can give you a grant
to pay your closing costs.
You can qualify for those and we can help
you with that process.
A family member can gift it to you
or if you can negotiate right you might
be able to get the seller to pay your
closing costs so these are ways that you
can actually get into the house with no
money down USDA allows for that
it's a great great great program
and we specialize in that we do a lot of
them we know what we're doing with it
not every lender does.
You want to work with people who know
what they're doing with this program. We
do. We can help you and if you want to
buy one and buy a house using the USDA
program let's talk, we can show you all
your options help guide you along so you
can buy your your new home
talk to you soon