Pembroke Pines USDA Mortgage Loans

apply-now-today At First Nationwide Lending, we feel that every american try to buy a home of their own, regardless of where they live. If you live in a remote area in Pembroke Pines Florida and wanted to own your very own home, then perhaps a Pembroke Pines Florida USDA loan is perfect for you and your family. So, what precisely is this mortgage? We are excited you inquired. Take a look!

Why Choose a Pembroke Pines USDA Mortgage Loan?

The majority of homebuyers think of a “USDA mortgage” and assume that the mortgage loan is provided by the USDA. Contrary to popular assumptions, USDA mortgages are not provided by the United States Department of Agriculture (USDA). The truth is that these mortgages are secured by the USDA; which is why there’s the USDA in Pembroke Pines USDA mortgage loans.

What Are the Benefits of Pembroke Pines USDA Mortgage?

Different mortgage loans have a variety of benefits. For people who live in Pembroke Pines Florida, USDA loans offer various benefits which include but are not limited to:

  1. Minimal down payment
  2. Fixed 30 year loans
  3. Ease of qualifications
  4. Flexible purchase price
  5. Credit score requirements are lower

What are the Disadvantages of Pembroke Pines Florida USDA Home Loans?

While this Pembroke Pines mortgage plan sounds appealing, there can be a catch associated. Luckily for most homebuyers, a Pembroke Pines USDA loans doesn’t have strict requirements. The primary eligibility requirements include:

  1. The home has to be located in a rural area.
  2. Your credit must be no lower than 620.
  3. The home must meet minimum appraisal requirements
  4. To qualify the debt to income ratios such as 29% for housing costs and 41% for back end ratios
  5. The lender must be approved by the USDA

If you want to learn more about a Pembroke Pines USDA loans, please call the professionals at First Nationwide Lending. Simply 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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