This is the first of a three part post on different loan options that are available.
The first loan is one that very few real estate agents even know about but that is becoming increasingly more popular. Through the USDA (yeah, that's right the guys that put the stamp on meats) there is a program set up called the Rural Housing Service. This federal program is aimed at helping develop rural areas and you might be surprised at what they consider "rural areas".
The program is available in Pasco and Hillsborough counties. The limitation is that the home must be in specific geographic areas, defined mainly by population. In Pasco County that includes areas east of the Suncoast Parkway (Land O' Lakes, Wesley Chapel, etc.) and in Hillsborough, areas beyond Brandon and outside Plant City (Riverview, Lithia, etc.). However, counties such as Pinellas have become too urbanized to get assistance from the program. The program is fairly easy to qualify for but are income limits and it can only be for a primary residence.
Be sure to check out tomorrow's blog for part two of this three part series.
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