Home Buying in Salinas>Question Details

Jessie, Home Buyer in Salinas, CA

Does anybody know if you apply for a USDA home loan due they use everybodys income that lives in the household?

Asked by Jessie, Salinas, CA Sat Jul 9, 2011

I'm some what confuse on this. I check on there main website of the USDA and its saying that they use everyones income that lives in the household even if there not applying for the loan. I spoken to a loan officer and they are telling me that they only use my income?? That's were I'm confuse.
Please if anybody knows of a good loan officer in Monterey county or even in the San Jose area that strictly due this loan, please let me know..

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Only the people who on are the loan contribute to the "qualifying" income figure - you know like to figure out if you have enough income to qualify for the amount of mortgage you are applying for.

However everyone who will reside in the home will have their income included in the "eligible" income figure that *has* to fit within USDA limits - doesn't have to do with how much you can qualify for but if the household income is too much then USDA isn't even an option.

Those eligibility income limits you can find at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do by click on "Income Eligibility" or "Income Limits" on the left side depending on which way you want to look it up.

You can find a worksheet on how to calculate "eligible" income at http://www.rurdev.usda.gov/SupportDocuments/an4575.pdf starting on page 5.

I do about one USDA loan a month if you'd need figuring things out, have any questions, or would just like information about the program I'd be happy to help.
0 votes Thank Flag Link Sat Jul 9, 2011
I know an excellent loan officer; I affraid that he is now looking at questions right, probably busy with family. And by Monday your question will be buried deep.

I can give you his e-mail address and I am sure he will respond today or tomorrow:
His name is Shane Milne and his e- is: shane@thebesthomeloans.com

By the way, I was looking at USDA loans, being in Fresno we have a lot of Ag properties: Are you sure that the property you want is qualified for USDA? I wouldn't want you to get in too deep and find that out.

Good luck and may God bless
0 votes Thank Flag Link Sat Jul 9, 2011
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