Boca Raton USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we believe that everyone try to purchase a home of their own, regardless of where they live. If you live in a remote territory in Boca Raton Florida and had the desire to purchase your very own home, then maybe a Boca Raton Florida USDA home loan is perfect for you. With that being said, what precisely is this mortgage? We are excited you asked. See below!

What is a Boca Raton USDA Mortgage?

Most home buyers look at “USDA mortgage loan” and automatically believe that the mortgage is offered by the USDA. Unlike peoples assumptions, USDA mortgages are not provided by the United States Department of Agriculture (USDA). The fact of the matter is that these they are backed by the USDA; which is why there’s the USDA in Boca Raton USDA mortgage loans.

What is the Reason for Obtaining Boca Raton USDA Loans?

Each mortgage loan product has different advantages. For residents of Boca Raton Florida, USDA loans carry many advantages which include but not limited to:

  1. Limited down payment
  2. Fixed 30 year loans
  3. Ease of qualifications
  4. Negotiable purchase price
  5. Credit requirements are more flexible

What are the Drawbacks of Boca Raton Florida USDA Mortgages?

While this Boca Raton mortgage loan plan sounds tempting, there is always a catch involved. Fortunately for most interested home buyers, a Boca Raton USDA loans doesn’t have strict guidelines. The primary eligibility requirements include:

  1. The home must be located in a rural/remote vicinity.
  2. The credit score must be no lower than 620.
  3. The property must meet minimum appraisal requirements
  4. To qualify the debt to income ratios such as 29% for front end ratios and 41% for back end ratios
  5. The broker must be approved by the USDA

If you are interested in learning more information about a Boca Raton USDA loans, please contact us at First Nationwide Lending. Just dial (877) 442-4023 or visit our rate quote page to get pre-qualified.

Contact Us


1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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