Pembroke Pines USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we feel that every american should be able to buy a home of their own, regardless of where they choose to buy or live. If you live in a rural area in Pembroke Pines FL and had the desire to own your own home, then perhaps a Pembroke Pines FL USDA home mortgage is ideal for you. So, what exactly is this type mortgage loan? At First Nationwide Lending we are excited you inquired. See below!

What is a Pembroke Pines USDA Mortgage?

Most home buyers look at “USDA mortgage loan” and automatically believe that the home loan is provided by the United States Department of Agriculture. Unlike popular assumptions, USDA mortgages are not issued by the United States Department of Agriculture (USDA). The fact of the matter is that these loans are secured by the United States Department of Agriculture; hence the USDA in Pembroke Pines USDA loans.

What’s the Point of Pembroke Pines USDA Home Mortgage?

Different loans have different advantages. For people who live in Pembroke Pines FL, USDA home loans offer various advantages which consist of but not limited to:

  1. No down payment
  2. Long 30-year unchanging interest rate
  3. Easy eligibility
  4. Negotiable purchase price
  5. Credit score requirements are lower

What are the Drawbacks of Pembroke Pines FL USDA Loans?

Even thought this Pembroke Pines loan plan seems appealing, there can be a catch involved. Fortunately for most interested home buyers, a Pembroke Pines USDA mortgage doesn’t have strict guidelines. The initial eligibility requirements include:

  1. The home has to be positioned in a rural/remote area.
  2. The credit must be no lower than 620.
  3. Property appraisal
  4. To qualify the ratios such as 29% for housing costs and 41% for debt costs
  5. The mortgage broker must be approved by the United States Department of Agriculture

If you are interested in learning more about a Pembroke Pines USDA home loans, please call the professionals at First Nationwide Lending. Just dial (877) 442-4023 or visit our rate quote page to get pre-qualified.


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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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