Fort Lauderdale USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we believe that everyone should be able to buy their own home, regardless of where they live. If you buy in a remote area in Fort Lauderdale FL and wanted to own your own home, then perhaps a Fort Lauderdale FL USDA home loan is perfect for you and your family. With that being said, what precisely is this type mortgage? We are excited you inquired. See below!

Why Choose a Fort Lauderdale USDA Mortgage?

Most homebuyers think of a “USDA loan” and automatically believe that the mortgage loan is being provided by the USDA. Contrary to peoples belief, USDA loans are not provided by the United States Department of Agriculture (USDA). The fact of the matter is that these mortgage loans are backed by the USDA; which is why there’s the USDA in Fort Lauderdale USDA loans.

What’s the Point of Fort Lauderdale USDA Home Loans?

Each loan product has a variety of benefits. For people who live in Fort Lauderdale FL, USDA mortgage loans carry many benefits that consist of but not limited to:

  1. Limited down payment
  2. Fixed 30 year mortgages
  3. Flexible qualification
  4. Negotiable purchase price
  5. Credit requirements are more flexible

What are the Drawbacks of Fort Lauderdale FL USDA Loans?

While this Fort Lauderdale loan plan sounds} {appealing. Fortunately for most interested home buyers, a Fort Lauderdale USDA mortgage loan does not have strict requirements. The initial eligibility requirements include:

  1. The home must be located in a rural vicinity.
  2. Your credit must be at least 620.
  3. The home must meet minimum appraisal requirements
  4. To qualify the debt to income ratios such as 29% for front end ratios and 41% for debt costs
  5. The broker must be approved by the USDA

If you want to learn more about a Fort Lauderdale USDA mortgages, please call the professionals at First Nationwide Lending. All you need to do is 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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