Household Income for USDA loan

Household income calc is based on current earnings so if he's not currently working, he has no earnings to add into the calc. If he finds a job before you close, you're obligated to report that to your lender to be included into the calc.

USDA loans are for low income family's... the guidelines state that the entire household income is supposed to be below a certain number based on the number of occupants.. It's not just the spouses income that is considered.. if you have adult children with jobs, their income will be considered as well.. They will not pull the credit, but they will verify income for all working persons within the household.. Here's a link to USDA's maximum income chart for your comparison.. http://www.rurdev.usda.gov/hsf-guar_income_limits.html... also note that if your spouse does go to work prior to closing, and you do not disclose it, you could be charged with loan fraud, so it's best to tell them if that is the scenario... 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

His credit does not need to be pulled but his income will have to be verifed using 30 days worth of recent paystubs and last 2 years W2s. His monthly gross will be added to yours to determine if you're under the cap for your specific scenario.

If your spouse is currently working his income has to be added in but his credit does not have to be ran if he is not going on the loan.