Miami Beach USDA Mortgage Loans

apply-now-today It is our passion at First Nationwide Lending, we believe that everyone should be able to buy their own home, regardless of where they live. Whether you purchase in a rural region in Miami Beach Florida and wanted to buy your own property, then maybe a Miami Beach Florida USDA home loan is perfect for you. With that being said, what precisely is this type mortgage? We are excited you asked. See below!

Why Choose a Miami Beach USDA Mortgage?

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

What’s the Point of Miami Beach USDA Home Loans?

Each loan product has different advantages. For residents of Miami Beach Florida, USDA mortgages offer various advantages which consist of but not limited to:

  1. Minimal down payment
  2. Long 30-year unchanging mortgage rates
  3. Ease of qualifications
  4. Negotiable purchase price
  5. Credit requirements are more flexible

What’s the Disadvantages of Miami Beach Florida USDA Home Loans?

While this Miami Beach loan plan sounds appealing, there’s always a catch associated. Luckily for most homebuyers, a Miami Beach USDA loans does not have strict requirements. The primary eligibility requirements include:

  1. The property has to be located in a rural area.
  2. Your credit rating must be no lower than 620.
  3. Property appraisal
  4. To qualify the ratios such as 29% for front end ratios and 41% for debt costs
  5. The mortgage provide must be approved by the United States Department of Agriculture

If you want to learn more about a Miami Beach USDA mortgage loans, please call the experts at First Nationwide Lending. Just dial (877) 442-4023 or visit our rate quote page to get pre-qualified.

Contact Us


1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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