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Realtor Rick A Goretski
Rick's Cell/Text: 407.497.5156
Toll Free 866.791.1035
USDA 100% Financing

Zero Down 100% USDA Financing

USDA Changing Eligibility Maps and Property Eligibility: Effective October 1, 2014, USDA will be implementing new eligibility maps based on the 2010 census results.

These changes have been postponed for three years to assist in the housing recovery and now it finally looks like the change is coming to fruition. Future eligible area maps are available on the USDA Income and Property Eligibility Site. Click on “Future Eligible Areas” to preview the areas that will be affected. This new rule will affect Clermont and much of Lake County.

Applications received at USDA beginning October 1, 2014 will be subject to the new eligible area maps.

You only have 60 days! If you are considering buying a home with 100% USDA Zero down financing, you're running out of time.

Call me right away so we can get started!

The following USDA property guidelines will be in effect September 1, 2014. Some of these are key changes:

· The site must be typical for the area. The previous land to total value limitation of 30% has been removed.

· The site must not have income-producing land. Having a garden for personal use is allowed.

· In-ground swimming pool restriction has been removed.

· Water systems that require repetitive treatment to be safe bacterially or chemically are not acceptable. Properties served by cisterns are not acceptable.

· Escrow accounts for exterior repairs and minor interior repairs may be established if certain conditions are met.

FNMA to Discontinue HomePath and HomePath Renovation Effective October 6, 2014:FNMA has announced the discontinuance of the HomePath and HomePath Renovation products. Any FNMA owned property, wishing to use the current enhancements such as no MI and no appraisal, must have the contract of sale executed on or before October 6, 2014. All loans with a fully executed contract dated on or before October 6, 2014 can use the existing features, although the loan will need to close sometime in January/February 2015 (final date to be determined).

After October 6th, FNMA owned properties must use other financing options. If a renovation product is requested, it must follow either the HomeStyle or 203K program guidelines. The HomeStyle renovation program is not impacted by this change.

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Capital Realty Group Florida
138 E. Colonial Dr. • Orlando, FL 32801
Rick's Cell/Text: 407.497.5156 • Toll Free 866.791.1035
Personal Fax 866.707.7373

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