Do USDA loans have limits on income and other restrictions?

They do indeed. Depends on if you have 1-4 people in your family, or 5+. In addition, it matters what county you are buying in. For Lane county the maximum income is $74,750 for 1-4 persons and $98,650 for 5+ persons. It's also important to note that everyone in the home over 15 years old earning income must be included, EVEN if they are NOT on the loan. If you need further help, drop me a line or email. Thanks!

Yes. You have to be below the median income for your area. However there are adjustments for family size here is a list http://www.rurdev.usda.gov/SupportDocuments/OR%20GRH.pdf of income limits. Call if you need anymore clarification 877-863-2901.

Yes. See answers by the other fine forum members.

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As others have stated, yes.. there are maximum income requirements for USDA loans.. however, for FHA there is not.. and FHA only requires 3.5% down. There are also conventional financing options which only require 3% down, so depending your credit scores, there could be other alternatives. Because you have turned to an internet post to get this information tells me that you have not spoken to a mortgage broker as of yet.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. This will take all the guess work out of which particular loan product you would qualify for.. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

They do indeed. Depends on if you have 1-4 people in your family, or 5+. In addition, it matters what county you are buying in. For Lane county the maximum income is $74,750 for 1-4 persons and $98,650 for 5+ persons. It's also important to note that everyone in the home over 15 years old earning income must be included, EVEN if they are NOT on the loan. If you need further help, drop me a line or email. Thanks!

Laura - actually they do yes! You have to be below the median income for your area. However there are adjustments for family size here is a list http://www.rurdev.usda.gov/SupportDocuments/OR%20GRH.pdf of income limits. Andrew 800 813 3291

I can help you with all your USDA questions and pre-approval. Please visit www.loanharvey.com to apply now and for contact information.I just finished a loan for a friend in Eugene, and I would be happy to assist you.Thank you.Lorne HarveyAmerican Pacific Mortgage

There are other restrictions besides the income ones mentioned. The key for you as a buyer is to make sure you're working with a lender who is highly experienced in USDA loans and is willing to take the time to ask you the right questions, and answer all your questions. USDA has property type restrictions, and unique guidelines regarding income and what can and cannot be used, and liabilities and what can and cannot be used in the math. Make sure to check with 2-3 different lenders and go with your gut instinct on who to work with. If I can help further, contact me at 503-515-2309.Chris Barry

read williams answer.

Yes- As other members have stated, the best option is to contact a local lender who can help you with the process. As stated, there maybe other optionsavailable to you. An example may be if you are or have been in the Military you may quality for a VA loan etc....