Brandon USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we feel that everyone try to purchase a home of their own, regardless of where you choose to buy or live. If you purchase in a less populated region in Brandon Florida and had the desire to purchase your very own property, then maybe a Brandon Florida USDA loan is ideal for you. So, what precisely is this type mortgage loan? We are happy you inquired. See below!

Why Choose a Brandon USDA Mortgage Loan?

In general homebuyers think of a “USDA mortgage” and assume that the mortgage loan is provided by the United States Department of Agriculture. Contrary to popular assumptions, USDA loans are not issued by the United States Department of Agriculture (USDA). The fact of the matter is that these they are backed by the United States Department of Agriculture; which is why there’s the USDA in Brandon USDA mortgages.

What Are the Benefits of Brandon USDA Loans?

Each mortgage product has different benefits. For people who live in Brandon Florida, USDA mortgage loans offer various benefits which consist of but are not limited to:

  1. No down payment
  2. Fixed 30 year mortgage loans
  3. Easy eligibility
  4. Negotiable purchase price
  5. Credit requirements are more flexible

What’s the Catch of Brandon Florida USDA Mortgage Loans?

While this Brandon mortgage plan sounds tempting, there is always a catch involved. Fortunately for most interested home buyers, a Brandon USDA mortgage loan doesn’t have strict guidelines. Some of the initial eligibility requirements include:

  1. The property must be positioned in a rural/remote vicinity.
  2. Your credit rating must be no lower than 620.
  3. Property appraisal
  4. Meet qualifying ratios such as 29% for front end ratios 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 about a Brandon 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

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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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