On a USDA mortgage, the entire household’s income has to be disclosed. If someone in the household has income from a job, disability, SSI, or social security, etc. this income has to be included in the income calculation. The USDA mortgage does have income limits based on the number of people in the household.
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Buying a house with a USDA loan – Everything you need to know
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Rhonda Burgess, Broker
How to buy a house with a USDA loan – USDA rural development loans explained. https://youtu.be/lNN1ET3aRNQ
USDA Loan Zero Down – 100% Financing Misconceptions about USDA loans. https://youtu.be/m6Dc-8_JWMo
The Definitive Guide to Buying Land and Building a House – https://youtu.be/HM8ZXgGmbV8
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How to buy a house self employed without tax returns – Use your bank statements. https://youtu.be/xXU-_yOPkgw
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The Biden Administration’s new Student Debt Relief Plan can be a real game changer for those of you with student loans who want to buy a house.
Under this student debt relief plan, the minimum monthly payment goes from 10% of the borrower’s income to just 5%. For example, if you’re minimum payment was $300, now that payment becomes $150. This will help you with your debt-to-income ratio a lot.Read more »