Brandon USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we believe that everyone try to purchase their own home, regardless of where they live. If you live in a rural region in Brandon FL and wanted to own your own property, then maybe a Brandon FL USDA home mortgage is perfect for you and your family. So, what exactly is this mortgage? We are glad you asked. Take a look!

What is a Brandon USDA Mortgage Loan?

The majority of home buyers think of a “USDA mortgage loan” and automatically believe that the mortgage loan is offered by the United States Department of Agriculture. Contrary to popular assumptions, USDA mortgages are not provided by the United States Department of Agriculture (USDA). The truth is that these mortgage loans are backed by the United States Department of Agriculture; hence the USDA in Brandon USDA loans.

What Are the Benefits of Brandon USDA Home Loans?

Different loans have different advantages. For people who live in Brandon FL, USDA home loans carry many advantages which include but not limited to:

  1. Minimal down payment
  2. Fixed 30 year loans
  3. Flexible qualification
  4. Purchase prices which are flexible
  5. Credit score requirements are lower

What are the Drawbacks of Brandon FL USDA Mortgages?

While this Brandon mortgage plan seems tempting, there can be a catch involved. Luckily for most interested home buyers, a Brandon USDA mortgage loan does not have strict guidelines. Some of the initial guidelines include:

  1. The property must be positioned in a rural/remote vicinity.
  2. The credit rating must be at least 620.
  3. Home appraisal
  4. To qualify the debt to income ratios such as 29% for front end ratios and 41% for debt costs
  5. The mortgage broker must be approved by the United States Department of Agriculture

If you want to learn more information about a Brandon USDA mortgage loans, please call the professionals 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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