USDA Loan Guide

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Lakeside, FL USDA Home Loan Guide

What is a Lakeside, 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 Lakeside 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 Lakeside 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 Lakeside 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. Lakeside, FL USDA Eligibility

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

    • Location: The Lakeside 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. Lakeside, FL USDA Mortgage Benefits

    • Affordability: With no down payment and the potential for lower mortgage insurance premiums, a Lakeside USDA loan can be more affordable in the long run.
    • Inclusive: It’s a great option for Lakeside, 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 Lakeside 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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    More information About Lakeside, Florida

    Lakeside is an unincorporated area and census-designated place in Clay County, Florida, United States. It is part of the greater Orange Park area. The population was 31,275 at the 2020 census.

    Lakeside is located in northeastern Clay County at 30°8′5″N 81°45′57″W / 30.13472°N 81.76583°W / 30.13472; -81.76583 (30.134840, -81.765767). It is bordered on its northeastern edge by the Town of Orange Park. To the north is the Bellair-Meadowbrook Terrace CDP, and to the southeast, across Doctors Lake, an inlet of the St. Johns River, is Fleming Island. The community of Doctors Inlet is just to the south of Lakeside.

    According to the United States Census Bureau, the CDP has a total area of 15.7 square miles (40.7 km2), of which 13.5 square miles (35.0 km2) is land and 2.2 square miles (5.7 km2), or 13.96%, is water.

    The Yerkes Regional Primate Research Center, one of ten regional centers for primate research, was once located just west of Orange Park in what is now the Lakeside CDP. The center, established in 1930 by psychologist Robert Yerkes and Yale University and the Rockefeller Foundation, was the first laboratory in the United States for the study of non-human primates. Prior to the opening of the facility, Yerkes was engaged in his own research with two great apes, named “Chim” and “Panzee”. His findings convinced officials at Yale University, the Rockefeller Foundation and the Carnegie Foundation to sponsor the Florida facility. Initially designed to house about 25 chimpanzees, researchers worked with an estimated 65 chimps (and possibly more) during the lab’s 35-year history. This location was home to chimpanzees nurtured as humans such as Gua and Viki and other primates from the estate of Madame Rosalia Abreu in Havana, Cuba. It was home to some of the leading behavioral scientists of the time, some of whom either liked or hated living in the humid South. These researchers studied various aspects of primate behavior, including basic biology, sensory function, reproductive systems, behavioral patterns, physiology and anatomy. Comically, rumors about the place by some Orange Park residents included those of scientists cross-breeding humans with apes. The term “Monkey Farm” has been used by some residents, who may be aware of the location’s history, to describe the lab’s functions.

    The plot of land upon which Yerkes Labs sat was 188 acres (76 ha), about a mile west of Orange Park. The actual research buildings sat on less than an acre, on what is now part of the Foxwood Center plaza (facing Orange Park Medical Center on Kingsley Avenue) in unincorporated land outside the town limits. In 1966, the abandoned buildings and adjacent land were purchased by Developer Marvin Wilhite of Ahpla, Inc., who still lives in Foxwood and built other communities such as Foxridge. He chose the name Ahpla (using a backward arrangement of the letters) after a female chimp named Alpha, who was the first chimp born at the Yerkes Labs on September 11, 1930.

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