Hollywood USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we feel that everyone should be able to buy a home of their own, regardless of where you choose to buy or live. Whether you buy in a less populated area in Hollywood Florida and wanted to purchase your own home, then perhaps a Hollywood Florida USDA mortgage is perfect for you and your family. With that being said, what precisely is this mortgage loan? We are happy you asked. See more!

Why Choose a Hollywood USDA Mortgage?

In general homebuyers think of a “USDA mortgage loan” and make the assumption that the mortgage loan is being provided by the USDA. Contrary to popular belief, USDA loans are not issued by the United States Department of Agriculture (USDA). The truth is that these they are backed by the USDA; which is why there’s the USDA in Hollywood USDA mortgages.

What’s the Point of Hollywood USDA Home Mortgage?

Each mortgage loan product has different benefits. For residents of Hollywood Florida, USDA mortgage loans offer various benefits that consist of but not limited to:

  1. No down payment
  2. Long 30-year unchanging interest rate
  3. Easy eligibility
  4. Negotiable purchase price
  5. Credit score requirements are lower

What’s the Disadvantages of Hollywood Florida USDA Mortgage Loans?

Even thought this Hollywood home loan program seems tempting, there’s always a catch associated. Luckily for most homebuyers, a Hollywood USDA mortgage loan does not have strict requirements. Some of the primary eligibility requirements include:

  1. The home has to be located in a rural/remote area.
  2. A borrowers credit must be at least 620.
  3. Property appraisal
  4. To qualify the ratios such as 29% for housing costs and 41% for debt costs
  5. The mortgage provide must be approved by the USDA

If you want to learn more information about a Hollywood USDA mortgage loans, 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.


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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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