Sunrise USDA Mortgage Loans

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It is our passion at First Nationwide Lending, we believe that everyone try to purchase their own home, regardless of where you choose to buy or live. If you live in a remote territory in Sunrise Florida and wanted to purchase your very own property, then perhaps a Sunrise Florida USDA mortgage loan is perfect for you and your family. So, what exactly is this type mortgage? We are happy you inquired. See below!

What is a Sunrise USDA Loan?

Most home buyers think of a “USDA mortgage” and automatically believe that the mortgage 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 truth is that these mortgage loans are backed by the United States Department of Agriculture; which is why there’s the USDA in Sunrise USDA mortgages.

What’s the Point of Sunrise USDA Loans?

Each mortgage product has a variety of advantages. For people who live in Sunrise Florida, USDA loans offer various advantages which consist of but not limited to:

•  Limited down payment
•  Fixed 30 year loans
•  Ease of being able to qualify
•  Purchase prices which are flexible
•  Credit requirements are more flexible

What’s the Catch of Sunrise Florida USDA Loans?

Even thought this loan plan seems appealing, there is always a catch associated. Fortunately for most interested home buyers, a Sunrise USDA loans does not have strict primary eligibility requirements include:

•  The property must be positioned in a rural vicinity.
•  The credit rating must be no lower than 620.
•  The property must meet minimum appraisal requirements
•  Meet qualifying ratios such as 29% for front end ratios and 41% for debt costs
•  The lender must be approved by the United States Department of Agriculture

If you are interested in learning more information about a Sunrise USDA loans, please call the professionals at First Nationwide Lending. All you need to do is 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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