USDA & FHA Mortgage Source

Please remember the USDA / Rural Development eligible property zones will be changing in the coming months. This is a reminder, please click here for more details.  6/29/2011-  Please click here for important updates to this posting. Serving all of Florida - USDA Mortgage Source is Florida's lea...

If you are a homebuyer considering a USDA home loan, the first thing to check is your USDA loan eligibility requirements. Below is a basic checklist of items that will determine if you are eligible for USDA financing.     •1.     USDA eligible locations - The home must be located in a USDA eligi...

That's right, the USDA mortgage program is the only remaining 100% home loan for Florida civilians. Please visit our main web site at www.UsdaMortgageSource.com to learn more about the benefits of 100% USDA / Rural Development home loans here in Florida. USDA Mortgage Source is Florida's top res...

We receive many inquiries each week asking about the latest USDA loan requirements. Please read below for the basic USDA mortgage guidelines. Credit score -  620 min credit score is required. However, this credit score requirement is beginning to increase to a 640. No repeated late payments on a...

We have received many questions regarding the terms of USDA home loans. 100% USDA mortgage terms are very basic - 100% financing 30 year fix rate.  USDA does not offer adjustable rate terms (ARM)  In addition, the USDA homebuyer will be required to pay a 3.5% funding fee that is rolled in ( fina...

Why should new Florida homebuyers consider the USDA / Rural Development mortgage? Below we have outlined some key reasons -           USDA home loan require NO down payment , the only 100% home loan for Florida civilians. USDA home loan do NOT require monthly mortgage insurance ( PMI ) like all ...

Many people are aware that the United States Census updated their population data this past year. As a result the population increase, USDA/Rural Development will be publishing changes to the eligible home location map sometime around September 2011.  As the population continues to grow in Florid...

Getting your USDA mortgage pre qualification in advance is important on many levels.  First is demonstrates to the home sellers that your qualified for home loan financing. Equally important is it lets you (prospective homeowner) know exactly all the numbers. How much your pre qualified for, the ...

This is a subject we have touch on in the past and many people still ask what is the difference? Many prospective homeowners hear these different mortgage terms (prequalified, preapproved, credit check, etc) and do not completely understand the difference.  Even many mortgage professionals rely o...

The USDA /Rural Development announced starting October 1st, 2011, they will begin collecting a monthly mortgage insurance premium of .3% on all new USDA home loans.  However, the up front (one-time) mortgage insurance cost will be reduced from 3.5% to 2%. So what does this mean for home buyers us...