USDA Mortgage


Buying your first home?

FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Credit Scores need to be at least 580 or higher with Good Rental History and no collections or late payments within the past 12 months. Available on 1-4 unit properties.

Looking to Refinance to a Lower Rate or Get Cash Out of your Equity

FHA offers Refinance Loans to pay off a current mortgage up to 95% of the Appraised Value. FHA also Offers Cash Out Refinancing up to 85% of Appraised Value. The Cash Out can be for debt consolidation or Renovations or any reason.

Want a fixer-upper?

FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Financial help for seniors

Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

What Makes FHA different than Conventional Loans?

FHA mortgages are home loans that are insured by the Federal Government. This insurance protects the lender from losses suffered if the home goes into foreclosure. It is not the same as hazard insurance or insurances that pay in the event the borrower dies or becomes disabled.

FHA allows a buyer to purchase a home with as little as 3.5% down. They tend to be more lenient on areas such as credit, funds to close and co-borrowers.

Most loans use a method of analyzing credit called credit scoring in the underwriting process. Studies have demonstrated a direct relationship between low credit scores and higher mortgage delinquency rates. As a result many lenders have established minimum credit scores at which they will accept loans. Unfortunately, a lack of credit, old delinquencies or incorrect information on the credit report can cause a low credit score. FHA does not have specific credit score requirements. Although a high credit score may assist in getting the mortgage approved, a low score is not automatically cause for denial. If the credit scores are low, then it is up to the borrower to demonstrate his/her ability and willingness to pay the loan back. This allows the borrower to explain the circumstances surrounding the credit difficulties and have that explanation considered in the underwriting process.

The underwriter on an FHA loan will review the credit and payment history of a customer concentrating on the most recent 12 to 24 months. If the customer has had a good payment record over the past 12 to 24 months they can often get approved for a mortgage even when Conventional financing has turned them down. An experienced loan officer can help the customer clearly tell their story and will often make suggestions as to how to make the file more acceptable to FHA. Because of FHA's leniency, some borrowers with past credit problems elect to use FHA for loans when they have a substantial down payment rather than getting a higher interest rate conventional loan. FHA tends to be more flexible than Conventional financing in the money needed to purchase the home.

In an FHA mortgage the customer must put at least 3.5% of the sales price into the transaction as down payment. The total cost to close on an FHA is commonly 3% and that can come from seller credit and also from lender credit.

FHA allows the borrower to get the funds necessary to close from several sources. They include such areas as personal savings, gifts, grants, loans from retirement accounts and seller contributions.



ALACHUA - $420,680             
BAKER -  $432,400                            
BAY - $420,680            
BREVARD - $420,680            

BROWARD - $460,000        

CALHOUN - $420,680

CHARLOTTE - $420,680

CITRUS - $420,680        
CLAY - $432,400                            
COLLIER - $552,000                            
DESOTO - $420,680             
DIXIE - $420,680        
DUVAL - $432,400                           
ESCAMBIA - $420,680        
FLAGLER - $420,680        
FRANKLIN - $420,680           
GADSDEN - $420,680        
GILCHRIST - $420,680           
GLADES - $420,680        
GULF - $420,680        
HAMILTON - $420,680        
HARDEE - $420,680        
HERNANDO - $420,680           
HIGHLANDS - $420,680        
HILLSBOROUGH - $420,680        
HOLMES - $420,680          
INDIAN RIVER - $420,680        
JEFFERSON - $420,680          
LAKE - $420,680           
LEE - $420,680           
LEON - $420,680          
LEVY - $420,680           
LIBERTY - $420,680        
MADISON - $420,680        
MANATEE - $420,680          
MARION - $420,680        
MIAMI-DADE - $460,000                      
MONROE - $710,700                         
NASSAU - $432,400                           
OKALOOSA - $539,350                      

OKEECHOBEE - $420,680

ORANGE - $420,680               

OSCEOLA -  $420,680                   

PALM BEACH - $460,000

PASCO - $420,680

PINELLAS - $420,680        

POLK - $420,680                              
PUTNAM - $420,680                                
SANTA ROSA - $420,680                   
SARASOTA - $420,680                 

SEMINOLE - $420,680   

SUMTER - $420,680        


SUWANNEE - $420,680               

VOLUSIA - $420,680                         

WAKULLA - $420,680

WALTON - $539,350