Tallahassee USDA Mortgage Loans

apply-now-today At First Nationwide Lending, we feel that everyone try to purchase a home of their own, regardless of where you choose to buy or live. Whether you purchase in a less populated region in Tallahassee Florida and wanted to buy your very own property, then maybe a Tallahassee Florida USDA home loan is perfect for you. So, what exactly is this mortgage loan? At First Nationwide Lending we are happy you inquired. Take a look!

What is a Tallahassee USDA Mortgage Loan?

The majority of people think of a “USDA loan” and automatically believe that the mortgage is provided by the USDA. Contrary to peoples belief, USDA loans are not provided 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 mortgages.

What is the Reason for Obtaining Tallahassee USDA Home Mortgage?

Each loan product has a variety of benefits. For people who live in Tallahassee Florida, USDA mortgage loans carry many benefits that include but not limited to:

  1. Limited down payment
  2. Long 30-year unchanging interest rate
  3. Flexible qualification
  4. Flexible purchase price
  5. Reduced credit score requirements

What are the Drawbacks of Tallahassee Florida USDA Loans?

Even thought this Tallahassee mortgage loan program sounds appealing, there is always a catch involved. Luckily for most homebuyers, a Tallahassee USDA loans does not have strict requirements. Some of the primary guidelines include:

  1. The property has to be positioned in a rural area.
  2. The credit must be no lower than 620.
  3. Home appraisal
  4. To qualify the DTI ratios such as 29% for front end ratios and 41% for back end ratios
  5. The broker must be approved by the USDA

If you are interested in learning more information about a Tallahassee USDA home loans, please call the experts 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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