USDA Loan Eligibility
The USDA loan is part of a federal program that supports rural development. If you’re buying a home in a rural area, make sure to check with me to determine if you’re eligible for a USDA loan. The USDA loan requires ZERO down payments – which is almost unheard of these days.
Other benefits to the USDA loan includes a 30-year fixed interest rate – meaning the rate will not adjust over its lifespan. Also, no mortgage insurance is required on a USDA loan.
If you’re eligible for a USDA loan, this is a great route to financing. Below are some eligibility requirements:
- Rural area
You must purchase property within an eligible area. To determine if you’re eligible, check out the interactive map on the USDA’s website or call my office at 561-207-8049.
- Income requirements
There is an income limit that is set for your county – you must not exceed that in order to be eligible. Some of the factors that go into determining include:
- Your county
- The total number of people in the household
- The number of residents under age 18 (or disabled or full time students)
- Your age
- The number of disabled persons in the home
- Your monthly expenses versus your income
- Credit history
This works differently than a credit score – your credit history will be reviewed to determine if you appear to be someone able to repay the debt and not default on the loan.
Get started by calling us at 561-207-8049.
Toni Taylor did a fantastic job with the mortgage process from start to finish. I would highly recommend her to anyone searching for a mortgage. I was very happy with how patient and understanding she was for me as a first time home buyer and this being all new to me she was great.
Toni and her staff are aggressive comptent and personable A treat to work with 2nd loan with her When you compare she wins Really enjoyed working with her a+ rating
Toni and her team played a huge role in helping to make this process seem less daunting and tedious. They were incredibly responsive and went above and beyond to help us execute a quick close. Highly recommend this local resource to anyone who wants 5 star service!!
Toni Taylor did an outstanding job for us on our recent purchase of a home in Florida. She was extremely knowledgeable, helpful, always accessible and delivered great results for us. When we told her that membership fees for our development would be going up $10,000 in a little over a weeks' time, she came up with a plan to help us close before the increase. She is quite pleasant to work with too.
This is a great team to work with in buying a home, not only very dedicated but kept me informed every step of the way. They have your best interest and stays on top of everything that needs to be done. Nothing falls through the cracks. Thank you so much. Very appreciated in all you did for me.
As a first time home buyer, I was not sure what to expect from the lending process. People warned me about how time consuming and exhausting it would be. In actuality, it turned out to be a breeze with no surprises or delays! I was able to close on the exact date that I wanted. I am very happy with how everything went from beginning to end. I would highly recommend Toni Taylor!
Everyone at this company was great!! Had my refinance done quickly and efficiently. Very easy to work with!! Both Toni and Brian were extremely helpful. Thank you!
First time home buyer , Tony experienced team guided me in a perfect , easy and no hussle way in getting a mortgage loan. I would recommend her to all my friends and to anyone that is looking for a home purchase or mortgage refinance.
Toni Sue Taylor Gibson from Inlet Mortgage along with her team were great to work with, thoroughly enjoyed the experience. As a first time home buyer, they were very helpful, responsive and patient with me. No doubt an amazing team and I recommend their services.
Working with Toni at Inlet Mortgage was a fantastic experience. She and her team were so responsive to my questions and concerns throughout the process and I never felt "out of the loop." Buying a home is a trying process but they certainly made the loan process stress free, THANK YOU!!