cancel
Showing results for 
Search instead for 
Did you mean: 

USDA Income question

tag
CARLA82
Valued Member

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?

Message 1 of 3
2 REPLIES 2
Familywantsahouse
Frequent Contributor

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
Message 2 of 3
CARLA82
Valued Member

Re: USDA Income question

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

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.