Brandon USDA Mortgage Loans

apply-now-today It is our passion at First Nationwide Lending, we feel that everyone should be able to buy their own home, regardless of where they live. If you buy in a rural region in Brandon FL and wanted to own your very own home, then perhaps a Brandon FL USDA loan is ideal for you and your family. With that being said, what precisely is this mortgage? At First Nationwide Lending we are excited you inquired. Take a look!

What is a Brandon USDA Mortgage Loan?

In general homebuyers look at “USDA mortgage loan” and assume that the loan is offered by the USDA. Unlike popular belief, USDA mortgages are not issued by the United States Department of Agriculture (USDA). The fact of the matter is that these mortgages are backed by the USDA; which is why there’s the USDA in Brandon USDA loans.

What’s the Point of Brandon USDA Loans?

Different loans have a variety of advantages. For residents of Brandon FL, USDA loans carry many advantages which include but are not limited to:

  1. Minimal down payment
  2. Long 30-year unchanging mortgage rates
  3. Easy eligibility
  4. Purchase prices which are flexible
  5. Credit requirements are more flexible

What are the Limitations of Brandon FL USDA Loans?

While this Brandon mortgage loan plan sounds tempting, there’s always a catch associated. Luckily for most interested home buyers, a Brandon USDA mortgage loan doesn’t have strict requirements. The primary guidelines include:

  1. The home has to be located in a rural area.
  2. A borrowers credit rating must be at least 620.
  3. The home must meet minimum appraisal requirements
  4. Meet qualifying ratios such as 29% for housing costs and 41% for debt costs
  5. The mortgage broker must be approved by the USDA

If you want to learn more information about a Brandon 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.

Contact Us


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

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