Miramar USDA Mortgage Loans

apply-now-today It is our passion at First Nationwide Lending, we believe that every american should be able to buy a home of their own, regardless of where they live. Whether you live in a rural region in Miramar FL and had the desire to buy your own property, then maybe a Miramar FL USDA home loan is ideal for you and your family. So, what precisely is this mortgage loan? At First Nationwide Lending we are excited you inquired. See below!

What is a Miramar USDA Mortgage Loan?

In general home buyers think of a “USDA loan” and make the assumption that the mortgage is provided by the USDA. Contrary to peoples assumptions, USDA mortgages are not provided by the United States Department of Agriculture (USDA). The fact of the matter is that these types of mortgages are secured by the USDA; which is why there’s the USDA in Miramar USDA loans.

What Are the Benefits of Miramar USDA Loans?

Different loans have a variety of advantages. For residents of Miramar FL, USDA loans carry many advantages which include but are not limited to:

  1. Limited down payment
  2. Fixed 30 year mortgage loans
  3. Easy eligibility
  4. Purchase prices which are flexible
  5. Credit score requirements are lower

What are the Limitations of Miramar FL USDA Loans?

While this Miramar loan plan sounds tempting, there’s always a catch involved. Fortunately for most home buyers, a Miramar USDA mortgage loan doesn’t have strict requirements. Some of the primary guidelines include:

  1. The property has to be positioned in a rural/remote vicinity.
  2. A borrowers credit score must be no lower than 620.
  3. The property must meet minimum appraisal requirements
  4. Meet qualifying ratios such as 29% for front end ratios and 41% for back end ratios
  5. The mortgage provide must be approved by the USDA

If you are interested in learning more information about a Miramar USDA mortgage loans, please call the experts 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

map

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

Latest News