USDA Loan Guide

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Highland City, FL USDA Home Loan Guide

What is a Highland City, FL USDA Mortgage?

Welcome to the Smart Mortgage guide on USDA Mortgages. Navigating the home financing world can be a daunting task, but understanding the various mortgage options available can significantly streamline the process. One such option that you might not be familiar with is the Highland City USDA mortgage. Let’s dive in.

1. Overview

A USDA mortgage, formally known as the USDA Rural Development Guaranteed Housing Loan, is a mortgage loan offered to rural property owners by the United States Department of Agriculture (USDA). Designed primarily to promote Florida homeownership in rural and some suburban areas, the Highland City USDA loan comes with a range of benefits that make it a viable option for eligible homebuyers.

2. Key Features

  • No Down Payment: One of the standout features of a USDA loan in Highland City is the possibility of financing up to 100% of the home’s price. This means eligible borrowers can buy a Florida home with no down payment.
  • Competitive Interest Rates: Typically, USDA loans come with interest rates that are either at or below the market rate.
  • Flexible Credit Guidelines: USDA loans often have more lenient credit requirements, which can be beneficial for those with a less than perfect credit history.

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    3. Highland City, FL USDA Eligibility

    To be eligible for a Highland City USDA mortgage, borrowers must meet certain requirements:

    • Location: The Highland City property must be located in an eligible rural or certain suburban area as defined by the USDA.
    • Income Limits: There are specific income requirements, both minimum and maximum, based on the median income of the area.
    • Creditworthiness: While the USDA is generally more lenient with credit scores, a certain credit standard must still be met.
    • Primary Residence: The borrower must occupy the home as their primary residence.

    4. Highland City, FL USDA Mortgage Benefits

    • Affordability: With no down payment and the potential for lower mortgage insurance premiums, a Highland City USDA loan can be more affordable in the long run.
    • Inclusive: It’s a great option for Highland City, FL first-time homebuyers or those without a substantial savings for a down payment.
    • Supporting Rural Development: By opting for a USDA mortgage, you’re indirectly supporting the development and sustainability of rural communities.

    5. How Smart Mortgage Can Help

    Navigating the intricacies of USDA mortgages can be challenging. That’s where Smart Mortgage steps in. Our team of seasoned USDA mortgage professionals is here to guide you through every step, ensuring you make informed decisions tailored to your needs. Whether you have questions about your eligibility or the application process, we’re here to help.

    Take the Next Step Interested in exploring if a Highland City USDA mortgage is right for you? Get in touch with our Smart Mortgage team today at (888)416-4805. We’re committed to helping you find the best mortgage solution for your unique situation.

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    Mortgage Resource Center

    More information About Highland City, Florida

    Highland City is a census-designated place (CDP) in Polk County, Florida, United States. The population was 2,051 at the 2000 census. It is part of the Lakeland–Winter Haven Metropolitan Statistical Area.

    The modern-day area of Highland City was the site of the United States Army’s Fort Fraser, established in 1837 during its war with the Seminole Indians. Zachary Taylor, former U.S. President, commanded the fort for a short period. Fort Fraser was abandoned shortly after its construction.

    In 1885, the Pemberton Ferry Branch of the South Florida Railroad was completed between Lakeland and Bartow. The area now known as Highland City was the only stop between the two larger cities. The stop, and eventual village, was named for the Haskell brothers, who were early investors in the South Florida Railroad. E. B. Haskell was a newspaper publisher from Boston, Massachusetts and his brother Dr. C. C. Haskell, of Maitland, Florida, was an original stakeholder in the South Florida Railroad. In addition to the town of Haskell, the South Florida Railroad’s #6 locomotive was named the E. B. Haskell.

    The Haskell freight depot was built by the railroad company along the roadway that would later become U.S. Highway 98. (In 1958, the depot was demolished due to its proximity to the roadway, and was replaced by a new freight building). The first postmaster (and also the first freight agent of the depot) in Haskell, Thomas A. Goode, was appointed on February 9, 1887.

    Developer W. F. Hallam had begun to develop the Lakeland Highlands area by 1924. Hallam built the Hallam Country Clubhouse in the area west of Highland City and the road accessing the clubhouse became known as Clubhouse Road. The development of the Highlands also brought an influx of new residents to the Haskell community.

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