Texas Home Loan
Insider Angelo Christian

What are the qualifications for a USDA loan? A lot of people think that qualifying for a USDA loan is the impossible dream or that it’s not realistic. The truth however is that the qualification process and requirements are fairly simple and easy. USDA works with fair, good, excellent credit scores. Even if you don’t have the best of credit or had credit issues in the past you may still qualify for a USDA loan. Do not be discouraged. There are many different loan programs available with the USDA. Some of the basic requirements are two years out from a bankruptcy and three years out from a foreclosure. They really do not want to see any major collections or charge offs in the last one year. Medical is okay, they wont count this against you.  If you had issues in the past with credit its okay. They do like to see reestablished credit like a car loan or credit card, this helps.

Besides credit the other factor the USDA looks at is income and the size of the family household. There is an income cap in each county that cannot be exceeded to get a USDA home loan. The more people that occupy the home the higher the income limit they will allow.