Boca Raton USDA Mortgage Loans

apply-now-today It is our passion at First Nationwide Lending, we feel that every american try to buy a home of their own, regardless of where they choose to buy or live. Whether you live in a rural area in Boca Raton FL and had the desire to buy your own property, then perhaps a Boca Raton FL USDA loan is ideal for you and your family. So, what precisely is this mortgage? We are excited you asked. See below!

What is a Boca Raton USDA Loan?

In general people look at “USDA loan” and assume that the loan is provided by the USDA. Unlike popular belief, USDA mortgages are not issued by the United States Department of Agriculture (USDA). The truth is that these mortgages are secured 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?

Different mortgage loans have different advantages. For residents of Boca Raton FL, USDA mortgages carry many advantages which consist of but are not limited to:

  1. Minimal down payment
  2. Fixed 30 year loans
  3. Flexible qualification
  4. Flexible purchase price
  5. Credit requirements are more flexible

What are the Disadvantages of Boca Raton FL USDA Loans?

While this Boca Raton home loan plan there is always a catch associated. Luckily for most home buyers, a Boca Raton USDA loans doesn’t have strict requirements. Some of the primary eligibility requirements include:

  1. The property must be positioned in a rural vicinity.
  2. Your credit score must be no lower than 620.
  3. Property appraisal
  4. To qualify the debt to income ratios such as 29% for housing costs and 41% for debt costs
  5. The mortgage broker must be approved by the USDA

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


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

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