USDA Loans for Self Employed Borrowers

USDA Loans and the Self Employed Borrower

USDA lenders pay close attention to income. Other types of loans certainly make income an important qualifying issue but with USDA loans it pertains not only to affordability but to make sure the borrowers don’t make too much money. How much? No more than 115% of the median income for the area where the property is located. That’s easy to […] Read more »

How To Qualify For A USDA Loan

USDA Loan Qualifications - How to Be Eligible for a USDA Loan

You may have heard about this home loan program and wondered how to qualify for a USDA loan. The United States Department of Agriculture, or USDA, administers this special home loan program designed to help those buy a primary residence in so-called “rural” areas. However, the USDA recalculates its eligibility map as population centers shift but eligible areas are sometimes […] Read more »

USDA Loan Credit Scores

Credit Scores and USDA Loans

The USDA provides USDA lenders certain guidelines to use when evaluating a home loan request. One of these guidelines relates to credit. While the USDA doesn’t set forth a specific credit score requirement, they do ask that lenders validate a responsible credit history. USDA lenders do however establish a minimum credit score and when they do the most common score […] Read more »

How To Repair Your USDA loan Credit Rating Score

USDA Loans and Credit Repair

USDA loans are a bit more forgiving as it relates to credit compared to some other mortgage programs in the market. While the USDA itself does not establish a proper credit score, most USDA lenders do and the minimum score typically ranges from 620 to 640. Remember, the USDA loan requires no down payment as well. But even though credit […] Read more »