What is the minimum credit score required to get a USDA rural development loan?

Your mid score must be 640 or above, but there's so much more than a score when it comes to getting approved... even more so with USDA. Job, Income, type of income, credit history, and credit score all are considered when it comes to determining eligibility, not just the credit score. Keep in mind that USDA is not intended for the well off.. It's intended for low income folks who wish to purchase in a rural area ( as defined by USDA).. So for Sandwich IL, it's between $170K - $200K, depending on which county your looking in.. 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

Hi Hkreuger, thanks for the question. Minimum FICO score requirements will vary from lender to lender - we can fund USDA Rural with a minimum FICO of 620 100%LTV. If you have any further question please feel fre to contact me directly. Thank you. Sam. www.silvercreekfinance.com

Generally, 620, but sometimes we can get an exception. I am an Illinois lender in Schaumburg. Please feel free to contact me, as we do a lot of USDA loans. barb.lanis@1amllc.com

My investors require a minimum of 620, but the score alone is not the determining factor. Income, what is in your credit report and ratios are just as important. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Most lenders want a 640 fico but you can go this website to get some more info - http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do but also keep in mind what the government allows and what lenders will lend on are 2 different things. As for the loan limit yes there is and what I have found is that the limit comes more from your Debt to Income limits for qualification on limit moreso than what the USDA will allow. There are bunch of variables that go into it so you need to contact a LOCAL broker that work with you on your specific situation.

Dear H Kreuger,Most investors purchasing USDA GRH (Guarantee Rural Housing) Loans are looking for a 640 credit score. That would be the "middle" score of the three major credit reporting agencies (Equifax, Experian and TransUnion), not using the lowest or highest score as the representative score.GRH loans finance 100% of the purchase price and the 2% Up Front Rural Housing fee. I'd be happy to discuss this fully with you. This is a program we offer at Centrue Bank.Cathy Pusateri NMLS 657955Mortgage Loan Originator Centrue Bank - Sandwich 815-786-1721

You generally need a 640 middle score. You can search the USDA site to see about eligibilty. Eligibilty will depend on several factor, property loaction, income, household size, etc. Good Luck!

USDA ,also takes in the effect of your reserves, what type of income you have, and it is geared for the low to middle income in your area. There is a website that also, you can look at previous properties , as well as checking to see if the new property is in a USDA area.. You can contact me at yourloanpartnerforlife@live.com linda

The majority of lenders will require a score of 640. You will also have to meet other eligibility requirements such as property value and size, location and income.