I can't afford to buy a home...Check out USDA!
- Charles "Skip" Geiser
- Sep 29, 2023
- 1 min read
What is the USDA Loan Program?
This program helps approved lenders make 100 percent-financed, no-money-down mortgage loans to eligible low- and moderate- income applicants. Backed by USDA Rural Development, the 90 percent loan note guarantee encourages lender participation by helping them minimize risk. With a Single Family Housing Guaranteed Loan, applicants can buy an existing home (including the cost of rehabilitating, improving, or relocating the dwelling) or they can build new. The home must be used as their primary residence, and must be modest, decent, safe, and sanitary. This program is not restricted to first-time home buyers.
How do I know if a property I am interested in is eligible for the USDA loan program?
USDA Website...
1. Click Single Family Housing Direct (Tab)
2.Property Eligibility (Tab)
What is the Market Doing?
Escambia County
Escambia
Month | Closed Sales | % Change Year Over Year |
Aug 2023 | 441 | -14.9 |
July 2023 | 420 | -16.8 |
June 2023 | 513 | -13.3 |
May 2023 | 501 | -14.1 |
April 2023 | 415 | -20.5 |
March 2023 | 463 | -18.1 |
Feb 2023 | 345 | -22.6 |
Jan 2023 | 304 | -28.0 |
| | |
Dec 2022 | 375 | -31.7 |
Nov 2022 | 321 | -31.1% |
Oct 2022 | 438 | -15.8% |
Sep 2022 | 459 | -13.1 |
Aug 2022 | 518 | -2.1% |
Jul 2022 | 505 | -9.8% |
Jun 2022 | 592 | -3.6% |
May 2022 | 583 | 16.8% |
Apr 2022 | 522 | 0.2% |
Mar 2022 | 565 | 2.5% |
Feb 2022 | 446 | 14.4% |
Information from Florida Realtors
Santa Rosa County
Santa Rosa County
Month | Closed Sales | % Change Year Over Year |
Aug 2023 | 292 | -31.6 |
July 2023 | 347 | -15.4 |
June 2023 | 434 | -11.8 |
May 2023 | 437 | -2.2 |
April 2023 | 331 | -21.4 |
March 2023 | 404 | -12.2 |
Feb 2023 | 257 | -35.8 |
Jan 2023 | 228 | -27.2% |
| | |
Dec 2022 | 330 | -30.2% |
Nov 2022 | 281 | -31.3% |
Oct 2022 | 331 | -34.5% |
Sep 2022 | 373 | -20.1% |
Aug 2022 | 427 | -15.3% |
Jul 2022 | 410 | -20.1% |
Jun 2022 | 492 | -11.5% |
May 2022 | 447 | -4.1% |
Apr 2022 | 421 | -7.9% |
Mar 2022 | 460 | -0.4% |
Feb 2022 | 400 | 9.6% |
Information from Florida Realtors
Current Mortgage Rates
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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Skip Geiser LLC. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Skip Geiser LLC. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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