What could disqualify me from a usda loan?

There are a multitude of things with any loan that can cause a denial. Is there something specific you are worried about?

There are income limitations per county. Your credit score needs to be at least 620 but it is hard to get approval at that score. Also you debt to income ratios need to be bellow 45% even though you can get approved at higher but again that depends aon overall credit picture. Dali, loan officer 425-351-5363

Hi,Here are the most common reasons for not qualifing for a USDA loan.1. Home not located in eligible area2. Borrowers household income is too high3. Qualifing ratios exceed 29%/41%Hope this helps!EileenBank of the Pacific(360) 293-9982

Is there something specifically you are referring to? First, you need to go to the USDA website and verify that the property is located in an eligible area. Typically these are more rural areas as you will see when you search the property address in question. Also, is this a refinance or purchase? There are different criteria for each. For example, in order to refinance you have receive an interest rate of at least 1% lower than you have now. Again, more specifics would be helpful as there are so many reasons why someone might not qualify for a mortgage, and specifically a USDA mortgage. There are lenders that will go below a 620 like someone previously mentioned. Typically if your score is much lower than that, there are going to be other credit issues present as well which might also cause you not to qualify. Let us know what your questions pertains to, thank you.

Income too high, wrong area, debt ratio too high, among others.

The biggest two items are 1) geographic location (Choose "Single Family Housing" under Property Eligibility at: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do) to check an address. 2) household income limitations (Google - RD Income Limits) to check local income limits. Even though different loan programs have different rules, the goal is to ensure you have an "Ability to Repay". Good Luck.

They said I was disqualified because of my 2016 and 2017 tax return