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USDA Home Loans are offered in rural areas as determined by the United States Department of Agriculture (USDA). The USDA’s mission is to help lower income households obtain home loans at reasonable mortgage rates. USDA home loans offer many advantages to qualified borrowers.

USDA Mortgage Loans allow for purchase and no cash out refinances of primary residences. Some benefits of USDA are:

• 100% financing
• Zero Down Payment
• Zero Due at Closing (closing costs and pre-paids may be rolled into the loan up to the appraised value)
• No monthly mortgage insurance
• No asset or cash reserve requirements
• Gifts allowed for closing costs
• Required property improvements can be financed into the loan up to 103.5% of the "improved" value. (USDA will allow repairs to be completed after closing!)

Eligible USDA property types include single family homes, town homes and condominiums. USDA does have some income and property eligibility requirements.

Even though a mortgage insurance premium is not required, USDA charges a 3.5% funding fee to guarantee the mortgage. This fee may be financed into the loan amount.

To learn more about a USDA home loan program, click on the Loan Programs link and view highlights of USDA's home loan programs.

Also serving these Cities in Lake County FL - Eustis, Leesburg, Taveres, Sorrento, Mount Dora, Grande Island, Fort Mason, Oakland Park, Zellwood, Fruitland Park, Lady Lake, Howey in the Hills, Astatula, Groveland, Clermont, Palm Coast, Umatilla, Orange City, Debary, Astor, Ocoee, Montverde, Minneola, Groveland, The Villages, Geneva, Bushnell, Sorrento, and Wildwood. Other counties include Sumtner, Flagler, Hillsborough, Pasco, Polk, Seminole and Collier.