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How is USDA income limits figured?

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J_G
Regular Contributor

How is USDA income limits figured?

So, is it figured on this year's income so far our last year's income or what? Appreciate your help with this one. Because if made 33, 000 this year but 10k of it was a one time bonus that I will never get again so they aren't counting that but they say I'm still over? Limit is 123, 000.
7/1/13 - EQ = 593 TU = 578 EXP = 573 FICO
8/11/13 - EQ = 600 TU = 590 EXP = 603 FICO
10/1/13 - EQ = 611 TU = 689 EXP = 605 FICO
12/4/13 - EQ = 625 TU = 648 EXP = 604
Lender Pull 2/18/14 - EQ = 630 TU = 678 EXP = 594
Lender Pull 2/28/14 (EQ 640) (TU 660) (EX 655) Rapid re-score =)
9/30/14 - EQ = 660 TU = 710 EXP = 669
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cracksmeup
Regular Contributor

Re: How is USDA income limits figured?

Did you ever get an answer to this from the Lender?  I have a similar question.  Wondering if the income guidlines are based on prior tax returns or current pay stubs?

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