Income Limits Of USDA Loans

1. Income Limits Of USDA Loans USDA loans are guaranteed by U.S. Department of Agriculture. The department has set following minimum income requirements for the borrowers: Income limits depend upon the number of members in a household. Households are divided into two groups as 1-4 & 5-8 membered for defining income limits. In case of more than 8 members, a set percentage of 4 member limit is added to the minimum income  requirement for every additional member. Annual household income is considered to calculate limit measurement and the expected income for the coming year is taken into account. Gross income including salary, overtime, bonus, allowances and others is calculated. Loan officers can have additional requirements regarding income & employment. Income earned by a full-time student (if exceeding a set limit),  a minor, live-in aide and income tax credit is not considered. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 361-949-4647 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 915-843-2681 8522 Broadway St., Ste. 208 San Antonio, TX 78217 210-340-0404 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 16165 North 83rd Ave., Ste. 200 Peoria, AZ 85382 480-752-3110 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 254-690-3765 www.fcmloans4u.com