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Valued Member
CARLA82
Posts: 33
Registered: ‎10-22-2008

USDA Income question

We are hoping to apply for a USDA Guarenteed loan this month. My question is, right now our base income is below the limit, but if they count my husbands overtime, we will be over the limit. He has only been at this job for 2 months. Will they count this ot since it hasn't been 2 years?

Frequent Contributor
Familywantsahouse
Posts: 291
Registered: ‎02-25-2012

Re: USDA Income question

Yes. They count all household income towards your total income. For example, my husband earns commission which IS being counted towards our total qualified income...they just will not use that income in qualifying towards how much house we can buy.

 

make sense?

2/24 (Lender Pull) EQ 613, TU 553, EX 589
April EQ 633, My Fico TU 638, EX ??
Current EQ 643, TU 652, EX 633 (lender pull 5/11)
Goal (we made it!!)- Over 640 middle by 5/15
Valued Member
CARLA82
Posts: 33
Registered: ‎10-22-2008

Re: USDA Income question

How will they average it out, since he has only had OT on 1 pay check?


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