Tallahassee USDA Mortgage Loans

apply-now-today It is our passion at First Nationwide Lending, we feel that everyone try to buy a home of their own, regardless of where you live. If you purchase in a less populated area in Tallahassee FL and wanted to buy your very own property, then perhaps a Tallahassee FL USDA home mortgage is perfect for you. With that being said, what precisely is this type mortgage loan? At First Nationwide Lending we are glad you inquired. See below!

Why Choose a Tallahassee USDA Mortgage?

In general homebuyers look at “USDA loan” and assume that the loan is offered by the USDA. Contrary to peoples assumptions, USDA mortgage loans are not issued by the United States Department of Agriculture (USDA). The fact of the matter is that these types of mortgages are backed by the USDA; hence the USDA in Tallahassee USDA mortgage loans.

What Are the Benefits of Tallahassee USDA Mortgage?

Each loan product has different advantages. For residents of Tallahassee FL, USDA mortgage loans offer various advantages which consist of but not limited to:

  1. Minimal down payment
  2. Fixed 30 year mortgage loans
  3. Ease of being able to qualify
  4. Flexible purchase price
  5. Credit score requirements are lower

What’s the Catch of Tallahassee FL USDA Mortgage Loans?

While this Tallahassee home loan plan seems tempting, there is always a catch associated. Fortunately for most homebuyers, a Tallahassee USDA loans doesn’t have strict guidelines. The primary guidelines include:

  1. The property must be located in a rural/remote area.
  2. A borrowers credit must be at least 620.
  3. Home appraisal
  4. Meet qualifying DTI 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 information about a Tallahassee USDA 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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