Tallahassee 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 they choose to buy or live. If you purchase in a remote area in Tallahassee FL and wanted to buy your very own home, then maybe a Tallahassee FL USDA mortgage is perfect for you. With that being said, what precisely is this type mortgage? We are glad you inquired. See more!

What is a Tallahassee USDA Mortgage Loan?

In general people look at “USDA loan” and make the assumption that the mortgage 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 fact of the matter is that these mortgages are secured by the United States Department of Agriculture; which is why there’s the USDA in Tallahassee USDA mortgages.

What is the Reason for Obtaining Tallahassee USDA Home Mortgage?

Different mortgages have different benefits. For residents of Tallahassee FL, USDA mortgages offer various benefits that consist of but not limited to:

  1. Limited down payment
  2. Long 30-year unchanging mortgage rates
  3. Easy eligibility
  4. Negotiable purchase price
  5. Credit requirements are more flexible

What’s the Disadvantages of Tallahassee FL USDA Mortgages?

Even thought this Tallahassee loan plan seems tempting, there can be a catch involved. Fortunately for most homebuyers, a Tallahassee USDA mortgage doesn’t have strict guidelines. The primary eligibility requirements include:

  1. The home has to be positioned in a rural area.
  2. Your credit score must be at least 620.
  3. The home must meet minimum appraisal requirements
  4. To qualify the ratios such as 29% for front end ratios and 41% for debt costs
  5. The mortgage company must be approved by the United States Department of Agriculture

If you want to learn more information about a Tallahassee USDA mortgage loans, please contact us at First Nationwide Lending. Just dial (877) 442-4023 or visit our rate quote page to get pre-qualified.

Contact Us


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

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