USDA Guidelines

  • Max Loan Amount: Determined by DTI

  • Bankruptcy:

    • Chapter 7- 3 Years

    • Chapter 13- 3 Years

  • Foreclosure & Short-sale: 36 Months before loan application

  • DTI: 41% or higher if approved by GUS, maximum 50%

  • Down Payment: None

  • Max LTV: 101% Financing based on appraised value & to include the 1% RD Fee

  • CLTV: 101% Financing based on appraised value & to include the 1% RD Fee

  • Reserve Requirements: Per GUS Findings

  • Credit Score: 640  Purchase for now due to COVID-19 and forbearance & 640 Refinance

  • Subject property and borrower's income must meet RD eligibility

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Full QM Matrix