Port Saint Lucie USDA Mortgage Loans

apply-now-today At First Nationwide Lending, we feel that everyone should be able to purchase their own home, regardless of where you choose to buy or live. Whether you live in a less populated region in Port Saint Lucie Florida and had the desire to buy your very own home, then perhaps a Port Saint Lucie Florida USDA home loan is perfect for you. With that being said, what precisely is this type mortgage? At First Nationwide Lending we are excited you asked. Take a look!

Why Choose a Port Saint Lucie USDA Loan?

Most homebuyers look at “USDA mortgage” and assume that the home loan is provided by the United States Department of Agriculture. Contrary to popular assumptions, USDA mortgages are not provided by the United States Department of Agriculture (USDA). The truth is that these types of mortgages are backed by the United States Department of Agriculture; which is why there’s the USDA in Port Saint Lucie USDA loans.

What is the Reason for Getting Port Saint Lucie USDA Mortgage?

Different loans have a variety of advantages. For residents of Port Saint Lucie Florida, USDA mortgage loans offer various advantages that include but are not limited to:

  1. No down payment
  2. Long 30-year unchanging interest rate
  3. Ease of being able to qualify
  4. Negotiable purchase price
  5. Credit requirements are more flexible

What are the Limitations of Port Saint Lucie Florida USDA Loans?

Even thought this Port Saint Lucie mortgage loan program sounds appealing, there can be a catch associated. Luckily for most homebuyers, a Port Saint Lucie USDA mortgage doesn’t have strict guidelines. Some of the initial eligibility requirements include:

  1. The home has to be positioned.
  2. A borrowers credit rating must be at least 620.
  3. The property must meet minimum appraisal requirements
  4. To qualify the ratios such as 29% for housing costs and 41% for back end ratios
  5. The mortgage broker must be approved by the United States Department of Agriculture

If you want to learn more about a Port Saint Lucie 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.


Contact Us

map

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

Latest News