Am I Eligible?

Am I Eligible?

To be eligible for a USDA Loan, borrowers must meet certain income eligibility guidelines. In addition, the property being purchased must be located within a USDA designated area. See below:

income eligibility


Income Eligibility

Per USDA’s Rural Development guidelines, there are household income limits for the program that has  been segregated and determined by the county in which the property being purchased is located.  These income limits for the USDA Rural Development home loan program are derived from calculating 115% of the counties median income.  Eligibility for USDA requires calculation of the total household income, including the persons not applying for the loan.  If your spouse does not work, a signed letter acknowledging that unemployment will suffice. If there is another individual that is going to be residing at the property, their income needs to be taken into consideration as well, even if they are not on the application.  Once you have more than 5 persons in the household, the income limit goes up dramatically.   Be sure to call us to verify if your income meets the guidelines for the USDA loans program in your area.

Property EligibilityProperty Eligibility 

To be eligible for a USDA Loan the home being purchased has to be located in an area deemed eligible by the USDA’s Rural Development department. USDA home loans are available in all 50 states also including the Virgin Islands, Western Pacific & Puerto Rico.    The general guidelines for the loan program are the same throughout all eligible areas.

Click on the Map below to check the location eligibility of your proposed home purchase:

USDA Property Eligibility