USDA Rural Development Loan Requirements
USDA Rural Development Home Loan Coverage: 97% of the U.S.Down Payment: $0 required. Qualification Criteria: Household Income:Typically less than 115% of area median.1-4 size: $103,500 in most areas.High-cost areas: Up to $121,000. 4 size: Up to $160,000. Debt Ratios:Housing payment: ≤29% of monthly income.Total debt: ≤41% of monthly income.Credit Score:Myth: Must have 640.Reality: Varies by […]
