Kristin, we are an approved USDA lender. You can finance up to 102% of the appraised value. That extra 2% covers the USDA fee. If the home appriases for more than the sales price you can finance the entire loan and closing costs.

USDA homes are in certain areas and below is a link that you can determine if the home you want to buy is in a USDA area.
http://eligibility.sc.egov.usda.gov/

Make sure you check the household income in the eligibilty website. It is a little tricky and if you are close but over there are certain items that we can subtract from your income to make sure you fit the income requirement.

If there are cosmetic repairs needed it should not be a huge issue, but anything that is structural or suggests structural problems will not be allowed.

If you would like to discuss in more detail, I would be glad to help.


Andrew Kashella
727-331-8405
AKashella@TLTLoans.com

Here is the USDA webstie. The process should not take any longer than a conventional mortgage.

http://eligibility.sc.egov.usda.gov/eligibility/incomeEligib…

Kristin,

We have a local USDA office located in Crestview. Diane Collar is the area director, she can be reach by phone at 850-682-2416 ext 128 or by email at Diane.Collar@fl.usda.gov. She should be able to help you or direct you to someone local who can.

For USDA loans the cap is determined by your income there is no max price on the property. You do need to get together with a loan officer that has closed USDA loans in the past.

Here is a link to Florida and you can check for areas that are eligilble for USDA loans.

http://eligibility.sc.egov.usda.gov/eligibility/eligibilityA…

Just to give you an idea here is a copy of the checklist that is recommended to be used when the apraiser is at the property.
http://www.rurdev.usda.gov/id/5-0_Existing.pdf