Fort Lauderdale USDA Mortgage Loans

apply-now-today At First Nationwide Lending, we feel that everyone try to purchase their own home, regardless of where they live. Whether you live in a rural territory in Fort Lauderdale FL and had the desire to own your very own property, then perhaps a Fort Lauderdale FL USDA loan is perfect for you. So, what exactly is this type mortgage? At First Nationwide Lending we are glad you asked. See below!

Why Choose a Fort Lauderdale USDA Loan?

Most homebuyers look at “USDA mortgage” and make the assumption that the loan is offered by the United States Department of Agriculture. Contrary to peoples assumptions, USDA loans are not provided by the United States Department of Agriculture (USDA). The fact of the matter is that these types of mortgages are backed by the United States Department of Agriculture; hence the USDA in Fort Lauderdale USDA loans.

What Are the Benefits of Fort Lauderdale USDA Home Loans?

Each mortgage product has a variety of advantages. For people who live in Fort Lauderdale FL, USDA mortgages carry many advantages which include but not limited to:

  1. No down payment
  2. Long 30-year unchanging mortgage rates
  3. Easy eligibility
  4. Flexible purchase price
  5. Credit requirements are more flexible

What are the Limitations of Fort Lauderdale FL USDA Loans?

While this Fort Lauderdale home loan plan seems appealing, there can be a catch associated. Fortunately for most homebuyers, a Fort Lauderdale USDA loans doesn’t have strict requirements. eligibility requirements include:

  1. The property has to be located in a rural vicinity.
  2. A borrowers credit must be at least 620.
  3. The home must meet minimum appraisal requirements
  4. To qualify the DTI ratios such as 29% for housing costs and 41% for back end ratios
  5. The mortgage company must be approved by the United States Department of Agriculture

If you want to learn more about a Fort Lauderdale 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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