USDA Loans in Orlando FL

What is a USDA loan?

Most home buyers are not aware that USDA loans in Orlando FL are available. USDA is a type of government loan specifically for low to moderate income home buyers purchasing in rural areas. Some of these rural areas are only 20-50 miles from down town Orlando. Learn more about USDA loans in Orlando FL.

Benefits of USDA Loans in Orlando FL.

100% financing= no money down.
Not limited to First Time Home Buyer.
Closing Costs can be included in the loan as long as property appraises.
No maximum purchase price, but borrower has to meet income to debt ratios and repayment analysis.
Seller can pay closing costs or the buyer can have gift money toward purchase.

Where can I buy a home with USDA loans in Orlando FL?

When a home buyer thinks about purchasing a home, they don’t think about USDA loans in Orlando Fl. Home buyers do not realize that Orlando and the Central Florida region consists of 6 counties of Orange, Osceola, Polk, Lake, Seminole, and Volusia, so the geographic region offers areas that are still considered rural. All these areas have property that will qualify for USDA loans in Orlando Fl.

Buyers can search the USDA website to see if there prospective property is considered in eligible rural area for USDA loans in Orlando FL. Here are some areas where you can get USDA loans in Orlando FL that are in Central Florida.

Geneva
East Orlando (32826, Bithlo, Christmas, Wedgefield)
Lake County
Northwest Winter Garden
Northern Davenport
Northeast and South St. Cloud
South Kissimmee
Volusia County: Osteen, Lake Helen, Orange City

Qualifying for USDA loans in Orlando FL

Not only does the real estate type and location of property have to qualify for a USDA loan, but borrower must also be eligible also. There is a formula based on the number of people in the household and salary limits. It is possible that a borrower could earn a higher than required salary and not be eligible for UDSA loan. A loan officer or mortgage broker can review your eligibility requirements for a USDA loan.

Submitting offers using USDA loans in Orlando FL.

Even though you may be eligible for USDA loan, there may be instances that seller may not want to accept your offer. USDA loans in Orlando FL must go through a few levels of review, first the initial lender, then onto USDA for review. Depending on how backed up USDA is, your loan can take 60-90 days. Some seller simply cannot wait to close for this loan. Most Orlando closing are 35-45 days.

Your Orlando Buyers Agent can help with an offer strategy for USDA loans in Orlando Fl. Contact Buyers Broker of Florida to buy a home with your USDA loan. 407-539-1053