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April 25th, 2009 8:27 AM by David W. Welch
Yes the US Department of Agriculture has 100% financing for identified rural areas. These days that is hard to come by unless you are a veteran with VA eligibility. I found the USDA site where you can check eligibility requirements at http://www.sc.egov.usda.gov/. They use maps to lay out which areas are ineligible for the loans. As you can imagine a lot of areas in Florida cannot get the rural housing loans, but I was pleasantly surprised to find how many do qualify. All of Lake county is eligible for USDA rural financing. The website also has information on eligibility requirements for the buyer. You can check that out yourself, but I recommend speaking with your lender first. If you need help finding a good lender give me a call at 407-924-7670 or contact me by e-mail David Welch. There are actually parts of Orange and Seminole county that are available for this type of financing as well as most of Osceola, Volusia, and Polk.
Orange county downpayment assistance also has money available for homes that have had at least $5,000 worth of work done to them in the last 12 months or for brand new homes. I know at least one builder that is working with the Orange county downpayment assistance on their homes in the Apopka area. I have a customer building a brand new home with over 1,800 square feet of living for around $165,000 and he is getting $20,000 downpayment assistance from the county. The downpayment assistance starts at $20,000 and can go as high as $35,000 depending on income and other information. Give me a call 407-924-7670 or e-mail me David Welch for more information. If you are ready for a new home, I would love to help you find the home and the financing you need.
David Welch, Real Estate Optimist, @realtyoptimist