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USDA Guaranteed-do I need to count son's income?

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JMMD
Frequent Contributor

USDA Guaranteed-do I need to count son's income?

One of our adult sons lives at home. He works full time. Do we need to count his income when we apply for a USDA Guaranteed loan? His income is his alone and seperate from ours. He pays all his own bills.  We qualify without his income but we are over the limit if we count it.

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Anonymous
Not applicable

Re: USDA Guaranteed-do I need to count son's income?

All household income is used for eligibility including adult children or even non-relatives (or non-eligibility) but only the applicants income is used for repayment/Loan amount.
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