The USDA Loan and Credit Scores.. People ask me all the time what credit score is needed to get a USDA loan to buy a house in Arizona with absolutely Zero Down Payment. There are actually a pretty good variety of answers to this question. Before we open the curtain on the USDA Loan and [...]
Does The USDA Loan Ignore Your Spouses Bad Credit? More people would be looking at buying a home in Arizona with the Zero Down Payment USDA Loan if they were not held back by their spouses bad credit. There are lots of reasons why one spouse may have pretty decent credit and the other may [...]
Can you get a Zero Down USDA Loan if you don’t have credit? Now that is another really good question. People looking to buy a home with a USDA Loan who do not have traditional credit histories can still qualify. Since credit history is such a large part of getting any type of loan approved, [...]
Understanding how the USDA Loan looks at Bankruptcy A bankruptcy does have a substantial impact on your credit and your ability to get a new USDA Loan to buy a house. A bankruptcy is defined as a federally authorized procedure by which a debtor is relieved of total liability for its debts by making court-approved [...]
Credit Score Optimization Tips for the USDA Loan Program With lender’s continuing to tighten their guidelines, it is more important than ever to know how to optimize your credit score for getting a USDA Loan here in Arizona. There are five components that make up your credit score, let’s take a look at them really [...]
How Student Loans Impact USDA Loan Qualifying When people are looking at getting an Arizona Home Loan whether it is a USDA Loan or FHA Loan who have existing student loans, they need to be aware of how those student loans will impact their qualifying. The USDA Loan Program is very popular among recent graduates, [...]
Can Collections Prohibit You From Getting Into The USDA Loan Program? Another question I hear quite a bit about the USDA Loan Program is about collections. It’s pretty common to hear… I have some old collections, are they going to stop me from getting approved for the USDA Loan? It’s always a good idea to [...]
What The USDA Rural Development Underwriter Looks For When You Apply… Part 1 This is a three part series where we will look at the 3 factors that a USDA Rural Development underwriter will look at when reviewing your file for loan approval. If you have questions that are not addressed here specific to USDA [...]
There is no written minimum credit score requirement to qualify for a USDA Rural Home Loan. However, many investors who fund the USDA Rural Home Loans have a minimum requirement of 620 middle credit score. This simply means that the USDA Rural Home Loan allows for a little variance in the credit score to qualify. [...]
