Miramar USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we believe that every american try to buy their own home, regardless of where they live. Whether you buy in a remote area in Miramar Florida and wanted to buy your own property, then maybe a Miramar Florida USDA loan is perfect for you and your family. With that being said, what exactly is this type mortgage loan? We are glad you asked. See more!

Why Choose a Miramar USDA Mortgage Loan?

In general home buyers think of a “USDA mortgage” and automatically believe that the mortgage is being provided by the USDA. Contrary to popular belief, USDA mortgages are not issued by the United States Department of Agriculture (USDA). The truth is that these types of mortgages are backed by the USDA; which is why there’s the USDA in Miramar USDA mortgage loans.

What is the Reason for Getting Miramar USDA Mortgage?

Different mortgage loans have different advantages. For people who live in Miramar Florida, USDA home loans carry many advantages that consist of but are not limited to:

  1. No down payment
  2. Fixed 30 year mortgages
  3. Ease of qualifications
  4. Negotiable purchase price
  5. Reduced credit score requirements

What are the Limitations of Miramar Florida USDA Loans?

Even thought this Miramar mortgage loan program sounds tempting, there can be a catch involved. Fortunately for most home buyers, a Miramar USDA mortgage doesn’t have strict guidelines. The initial guidelines include:

  1. The property must be located in a rural/remote area.
  2. The credit score must be no lower than 620.
  3. Home appraisal
  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 information about a Miramar USDA home loans, please contact us at First Nationwide Lending. Just 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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