Bonita Springs USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we feel that everyone should be able to purchase their own home, regardless of where you live. Whether you purchase in a less populated area in Bonita Springs Florida and wanted to purchase your own property, then perhaps a Bonita Springs Florida USDA loan is ideal for you. With that being said, what exactly is this type mortgage? At First Nationwide Lending we are happy you asked. See more!

Why Choose a Bonita Springs USDA Mortgage Loan?

The majority of home buyers look at “USDA mortgage loan” and assume that the loan is offered by the United States Department of Agriculture. Unlike popular assumptions, USDA loans are not provided by the United States Department of Agriculture (USDA). The truth is that these mortgages are secured by the United States Department of Agriculture; hence the USDA in Bonita Springs USDA mortgage loans.

What Are the Benefits of Bonita Springs USDA Mortgage?

Each mortgage loan product has a variety of benefits. For people who live in Bonita Springs Florida, USDA home loans carry many benefits that consist of but not limited to:

  1. No down payment
  2. Long 30-year unchanging interest rate
  3. Ease of qualifications
  4. Purchase prices which are flexible
  5. Credit score requirements are lower

What are the Limitations of Bonita Springs Florida USDA Mortgage Loans?

While this Bonita Springs mortgage loan plan seems tempting, there’s always a catch involved. Luckily for most home buyers, a Bonita Springs USDA mortgage does not have strict requirements}. Some of the {initial eligibility requirements include:

  1. The property must be located in a rural/remote vicinity.
  2. A borrowers credit score must be at least 620.
  3. The property must meet minimum appraisal requirements
  4. Meet qualifying DTI ratios such as 29% for housing costs and 41% for back end ratios
  5. The mortgage broker must be approved by the United States Department of Agriculture

If you want to learn more information about a Bonita Springs USDA loans, please contact us at First Nationwide Lending. Simply 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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