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 & 680 Refinance

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