Jaxbuyer Blog

Is 100% financing really gone!  Yes and No!

Yes.  The bad news is that many of the great 100% financing and down-payment assistance programs were snatched from our grips a couple of years ago. 

However, the good news is that there is a loan program now that still provides a homeowner with a way to buy a home with no downpayment!  This loan is called a USDA loan.  It is specific to the more rural locations of Jacksonville and its surrounding areas, such as Clay County and parts of St. Johns County.  A few important points to know about this loan are:

1. There are income limits.

2. The home must be the buyer's primary residence.

3. The loan is available for anyone who qualifies, not just first-time buyers.

4. There are specific areas of eligibility in which these loans can be used.  ie. Rural areas in Clay and St. John's Counties. 

5. Up to 102% of the loan can be financed. (meaning, downpayment and/or closing costs can be included)

Visit the following website for all USDA loan information.

http://www.rurdev.usda.gov/RHS/

Contact us with any questions regarding USDA loans!  You could be a homeowner!