Saint Petersburg USDA Mortgage Loans

apply-now-today At First Nationwide Lending, we feel that every american try to purchase their own home, regardless of where you choose to buy or live. Whether you buy in a remote territory in Saint Petersburg Florida and wanted to own your very own property, then perhaps a Saint Petersburg Florida USDA home loan is perfect for you and your family. With that being said, what exactly is this type mortgage loan? We are excited you inquired. See more!

What is a Saint Petersburg USDA Loan?

In general people think of a “USDA mortgage loan” and automatically believe that the loan is being provided by the United States Department of Agriculture. Contrary to popular assumptions, USDA mortgage loans are not issued by the United States Department of Agriculture (USDA). The truth is that these loans are secured by the United States Department of Agriculture; hence the USDA in Saint Petersburg USDA loans.

What’s the Point of Saint Petersburg USDA Mortgage?

Each mortgage loan product has a variety of benefits. For people who live in Saint Petersburg Florida, USDA mortgages offer various benefits which consist of but not limited to:

  1. Limited down payment
  2. Fixed 30 year loans
  3. Flexible qualification
  4. Purchase prices which are flexible
  5. Reduced credit score requirements

What’s the Catch of Saint Petersburg Florida USDA Loans?

While this Saint Petersburg mortgage loan plan sounds tempting, there is always a catch associated. Luckily for most homebuyers, a Saint Petersburg USDA mortgage loan does not have strict requirements. The initial guidelines include:

  1. The property must be located in a rural/remote area.
  2. Your credit must be no lower than 620.
  3. The home must meet minimum appraisal requirements
  4. To qualify the ratios such as 29% for front end ratios 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 information about a Saint Petersburg USDA mortgages, please call the experts 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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