Tallahassee USDA Mortgage Loans

apply-now-today Here at First Nationwide Lending, we believe that every american should be able to purchase their own home, regardless of where they live. Whether you buy in a remote area in Tallahassee Florida and had the desire to purchase your very own property, then perhaps a Tallahassee Florida USDA home loan is ideal for you and your family. With that being said, what exactly is this type mortgage? At First Nationwide Lending we are happy you asked. See below!

What is a Tallahassee USDA Loan?

In general homebuyers look at “USDA mortgage loan” and automatically believe that the mortgage loan is provided by the USDA. Unlike popular assumptions, USDA loans are not provided by the United States Department of Agriculture (USDA). The truth is that these types of mortgages are backed by the USDA; which is why there’s the USDA in Tallahassee USDA loans.

What’s the Point of Tallahassee USDA Home Loans?

Different loans have different benefits. For people who live in Tallahassee Florida, USDA mortgage loans offer various benefits which consist of but not limited to:

  1. No down payment
  2. Fixed 30 year mortgages
  3. Easy eligibility
  4. Purchase prices which are flexible
  5. Reduced credit score requirements

What’s the Disadvantages of Tallahassee Florida USDA Home Loans?

While this Tallahassee mortgage loan program sounds tempting, there is always a catch involved. Luckily for most homebuyers, a Tallahassee USDA loans doesn’t have strict requirements. The primary guidelines include:

  1. The property has to be located in a rural area.
  2. A borrowers credit rating must be no lower than 620.
  3. Home appraisal
  4. Meet qualifying ratios such as 29% for front end ratios and 41% for back end ratios
  5. The lender must be approved by the USDA

If you want to learn more about a Tallahassee USDA home loans, please contact us at First Nationwide Lending. Simply 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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