Question about a USDA loan

[Anonymous]

Hello all,

LOTS of useful information on all these treads but now I have my own question.

Recently I sent in an application for the USDA Rural Development loan and my most recent credit score was a 750 which is pretty good I believe. 

My question is.....what would my co-signing for a car do to my eligibiliy for the USDA loan?

Currently, I am in the very beginning of this process of trying for this loan.

Thanks

[Takunda1]

Like any new loan on your CR, your scores will drop a little, but most importantly with USDA your Debt to income ratio will be affected. It all depends on what other debts you have. Personally I would not be signing for any new credit while trying to buy a home.

[hawkeye33]

I agree. Try to put off the co-signing unless it is absolutely essential. I also agree that your primary concern would be DTI. With your score, you've got quite a bit of room to lose on the score itself before it would become an issue with USDA. The DTI, on the other hand, is impacted even if you're not planning on taking any responsibility for the monthly payments on the auto.

[Anonymous]

@Takunda1 and @hawkeye33

I know it was kind of a common sense question and kind of knew what the answer would have been already but sometimes you need others to say it.

I thank you both for answering my question so quickly.