Tampa USDA Mortgage Loans

apply-now-todayFor the residents of Tampa, a USDA mortgage loans are one of the best things to happen. This mortgage allows rural residents to own their very own home easier than ever before. But you have to ask yourself, what’s the difference? Is a USDA mortgage any different from a regular mortgage? Read on to find out!

Down Payment
When it comes to most home loans, you are required to make a down payment. While it may be small in some and large in others, a USDA mortgage is different. One of the biggest differences between a USDA and a regular home loan is that a USDA mortgage requires no down payment.

Financing
Traditional home loans require the home buyer to make a down payment. As such, their homes are not completely financed by the lender. However, considering that you do not make a down payment, a Tampa USDA mortgage can be 100% financed.

Location
When it comes to traditional home loans, you can pick your home in practically any place in the United States of America. However, that is NOT the case with a USDA mortgage. These mortgages require that the home be located in a rural area. Evidently, this is also an important requirement for the home appraisal.

Home
While you are free to choose a rural home to purchase, there are 2 major requirements to it. Other than the location requirements mentioned above, the home you wish to purchase must have been occupied by the owner. As such, you are not allowed to invest in properties using a Tampa USDA mortgage.

If you’re looking for a great way to purchase a rural home, and you live in Tampa, a USDA mortgage may be just what you need. If you require further information or have other questions on your mind, feel free to contact the experts of First Nationwide Lending at (877) 442-4023.

First Nationwide Lending offers a variety of different financial programs, depending on the needs of the consumer. Our loan options make it possible for anyone, and everyone, to refinance, or purchase a home. Take advantage of our programs: purchase mortgages, refinance loans, FHA home loans, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, USDA loans, and reverse mortgages.

 

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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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