Fort Lauderdale USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we feel that every american try to purchase a home of their own, regardless of where you live. Whether you buy in a remote territory in Fort Lauderdale FL and wanted to buy your very own property, then perhaps a Fort Lauderdale FL USDA loan is ideal for you. With that being said, what exactly is this mortgage loan? We are happy you inquired. See below!

What is a Fort Lauderdale USDA Mortgage?

The majority of people look at “USDA mortgage” and assume that the home loan is being provided by the United States Department of Agriculture. Unlike peoples belief, USDA mortgages are not issued by the United States Department of Agriculture (USDA). The fact of the matter is that these mortgage loans are secured 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?

Different loans have a variety of benefits. For people who live in Fort Lauderdale FL, USDA mortgage loans carry many benefits which consist of but not limited to:

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

What’s the Disadvantages of Fort Lauderdale FL USDA Mortgages?

Even thought this Fort Lauderdale home loan program seems tempting, there can be a catch associated. Fortunately for most interested home buyers, a Fort Lauderdale USDA mortgage loan does not} have strict guidelines. {Some of the primary eligibility requirements include:

  1. The property must be positioned in a rural/remote area.
  2. Your credit score must be no lower than 620.
  3. The property must meet minimum appraisal requirements
  4. To qualify the debt to income ratios such as 29% for housing costs and 41% for debt costs
  5. The broker must be approved by the United States Department of Agriculture

If you want to learn more about a Fort Lauderdale USDA mortgages, please contact us at First Nationwide Lending. Simply 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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