Miami USDA Mortgage Loans

apply-now-todayAt First Nationwide Lending, we believe that everyone should be able to purchase their own home, regardless of where they live. If you live in a rural area in Miami and wanted to own your very own home, then perhaps a Miami USDA mortgage is perfect for you. So, what exactly is this mortgage? We are glad you asked. Take a look!

What is a Miami USDA Mortgage?

Most people look at “USDA mortgage” and automatically believe that the mortgage is being provided by the USDA. Contrary to popular belief, USDA mortgages are not provided by the United States Department of Agriculture (USDA). The truth is that they are backed by the USDA; hence the USDA in USDA mortgages.

What’s the of Point Miami USDA Home Loans?

Different mortgages have different benefits. For residents of Miami, USDA mortgage carry many benefits that include but not limited to:

•  No down payment
•  Long 30-year unchanging interest rate
•  Easy eligibility
•  Flexible purchase price
•  Reduced credit score requirements

What’s the Catch of Miami USDA Mortgages?

While this mortgage plan sounds tempting, there is always a catch involved. Fortunately for most interested home buyers, a Miami USDA mortgage does not have strict requirements; not as many strict as other loans. The primary eligibility requirements include:

•  The home must be located in a rural area.
•  Your credit score must be at least 620. However, this can be negotiated with your lender.
•  Property appraisal
•  Meet qualifying ratios such as 29% for housing costs and 41% for debt costs
•  The lender must be approved by the USDA

If you want to learn more about a Miami 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.

First Nationwide Lending offers a variety of Miami mortgage loans, including, but not limited to: purchase mortgages, refinance loans, FHA home loans, USDA mortgages, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, and reverse mortgages.

 

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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