Posted on: 28th Feb, 2010 06:22 pm
is it hard to get a usda loan
Welcome Guest,
With a bad credit, it won't be possible for you to get a loan. As far as I know, you should have a credit score of 620 in order to get a USDA loan. Apart from this, your lender will look into your income and debt to income ratio before giving you a mortgage.
With a bad credit, it won't be possible for you to get a loan. As far as I know, you should have a credit score of 620 in order to get a USDA loan. Apart from this, your lender will look into your income and debt to income ratio before giving you a mortgage.
Minimum credit requirement for a USDA loan is 620.
The USDA has two ways to get a mortgage from them, retail and broker. The Broker way is called "guaranteed" and the Retail way is called "direct".
Folks with poor credit should use the direct channel, because the USDA is more flexible with their guidelines via that channel.
Folks with poor credit should use the direct channel, because the USDA is more flexible with their guidelines via that channel.
