Looking to afford a rural home? Try a USDA Loan

Looking to afford a rural home? Try a USDA Loan

Affordable Rural Homes in Gainesville, FL

If you like country living, there is a loan designed just for you. USDA loans help buyers purchase a rural home with no money down. That’s right, we said banks will provide 100% financing. All the buyers, you, have to pay are their closing costs. This is one of the best loans available because the rates are generally fair and there is no Property Mortgage Insurance (PMI) on USDA, although there is a very low guarantee fee that never falls off.

In order to qualify, borrower must meet a couple requirements and it can depend on family size:

  • home needs to be in a rural residential area approved by USDA, such as Archer, Newberry, Alachua, High Springs, Micanopy, and more.
  • $75,650 for family up to 4 people, $99850 family 5 or more
  • a clear Wood Destroying Organism (WDO) report; this means finding a house with minimal wood rot and no termites is best

Besides requiring a WDO report, this process is typically similar to getting conventional loans. If not, the seller will need to make proper repairs and treatments for a re-inspection by a proper inspector in order to obtain a clear WDO.

The only other difference in the loan process is that the lender will need to turn in the request to USDA before closing. Depending on government back ups, it is better to have everything turned in early enough for acceptance in time for closing.

Because of that time constraint, we suggest using experienced USDA lenders who will save you time and money:

Troy Johnson

FBT Mortgage, LLC

Loan Officer

NMLS # 1339512

Office: 352-371-6033

Cell: 813-787-3666


Fritz Reichardt

Landmark Mortgage Planners

Mortgage Loan Originator

NMLS # 463503

Phone: (352) 505-1981


Robert N. Fillyaw

FBT Mortgage, LLC

Sr. Mortgage Banker

NMLS # 573494

Cell: 352-665-1302


Here are some local insurance companies we suggest, as well:

Bryan Williams

McGriff Williams Insurance



Heather McCulley

Darr-Shackow Insurance



Jes Odom

Farm Bureau Insurance