The housing market has been taking a big hit these

past few years. Between fluctuating PLRs and the current credit crunch,

buying a home can be a challenge. Have you considered a home in the

rural areas of our great country? Well, you can finance your new home

with a USDA government loan.

The United States Department of

Agriculture (USDA) has a division called the RHS (Rural Housing

Service) that offers a complete range of services to home buyers. The

idea behind this rural housing movement is to help develop rural

communities. Community services like clinics, child care services, fire

departments, police and schools are dependent on property taxes as a

source.

The RHS offers guaranteed loans, direct loans and grants

for several purposes. Among these are purchasing a home, building a new

home or repairing/renovating an existing home. Applicants need to meet

a set of criteria based on income. The limits are very liberal and are

attainable.

Rates start at 4.5% for low income applicants regardless of what the PLR is at the time of the purchase.

For

the north central area of Florida, this is an excellent opportunity for

consumers. This is especially true for first time homebuyers in the

area of north central Florida. At the present time, housing prices are

down and it is a good time to buy in this area. The USDA loan

parameters make this a prime program.

First, north central

Florida is not significantly affected by hurricanes. The areas to the

east and west are where the real danger is located. As a result,

hurricane insurance is available at lower rates. This makes the area

very attractive for many buyers in many situations; especially first

time buyers.

The USDA loans are available for not only a

purchase, but to build a brand new home OR repair an existing home OR

renovate an existing home. Imagine the possibilities of being able to

purchase a property at tax sale prices and using the remainder of the

loan money to renovate the property to your liking. Literally, you

could have the home of your dreams for a song.

The level of your

income is not a factor either. The loans are available at differing

rates for differing levels of financial responsibility. The dividing

lines for the rates are determined by the area the home is located in.

For instance, a moderate income level in Alachua county Florida will

differ from the same moderate income level in Dade county Florida.

The

USDA\\\'s Rural Housing Service web page has a full table of these levels.

You can actually look at properties in separate locations and pick the

one that best fits your pocket. It is actually possible to get the

house you have always dreamed of at a price you NEVER thought possible.

Add

the fact that the coastlines are accessible in either direction by car.

A couple of hours west and you are at the Gulf Coast, go east and

there\\\'s the Atlantic Ocean.

So if you are looking at homes in the

north central Florida area, take a serious look at USDA rural home

loans. Great for first time buyers from all walks of life.