Forgotten Your Password?

Need to Register?

Question Icon

Can two people retired on social security income of $2500 get a USDA loan ?

by Rb5Andrs422 from , California. Jan 31st 2020 Reply


Todd Windes (twindes)
#259 ranked lender in California - 10 contributions

Possibly. the income source is not an issue. Still need to pull credit, make sure debt to income ratios are ok, and property sits in a USDA allowed area. I hope that helps.

Jan 31st 2020
1
0
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Social Security is a valid income source to qualify for any house loan, including USDA loans. Of course many other factors going into a loan approval, so contact a local mortgage broker in your area for more assistance. I lend on USDA loans in MN, WI, IA, SD, and ND. Visit me at JoeMetzler.com, NMLS274132

Feb 2nd 2020
1
0
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions

If your monthly income is $2,500 combined, you will be better served by applying for a USDA Direct loan. The USDA direct loan comes with the option of USDA subsidizing the loan to make it more affordable for you. The USDA guaranteed version does not.| John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Great Plains Bank | jburke@gpbankTX.net | (877)228-9069 | NMLS# 787231 |

Feb 13th 2020
1
0
Subscribe to our news feed.