I am looking at buying a home in washington state using a USDA mortgage. DOes any one have a list of guidelines?

Calvin sure ...use this link http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.door feel free to call or email me if you need more assistance :Dave Skow 206 714 9745dskow@eaglehomemortgage.com

USDA has a similar set of guidelines to FHA financing, with some additional unique requirements. Although they publish a handbook for the guidelines, it is experience and interpretation of these guidelines (hence the word, "guidelines"), which becomes very valuable when getting your loan approved. USDA loans have a maximum household income allowed, which is determined by which county you plan on purchasing in. All working adults in the household must count their income, whether they are on the loan or not. There is also an eligibility area for what is considered to be rural housing. Although "rural" doesn't mean wheat fields or large acreage anymore, the property does need to be outside of more populated cities. The program is designed to help foster homeownership in rural communities that may be underserved by traditional lending options. If you like, I can get you the eligibility maps for whatever county you are interested in. In addition, there is a property look up tool online. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do You can also run the maximum income calculation on that site as well, although I do recommend having a loan officer review the income documentation and go over some questions on it. USDA underwriters tend to err on the generous side when calculating the maximum income you MIGHT make in the next three years, while erring on the ultra conservative side for qualifying income. These are two separate calculations. Those are the main requirements on USDA loans. Ask me about our new down payment assistance program where you can get 3 to 5% grant funds that can be applied towards your closing costs. ;) michaelp@landhomenw.com (NMLS / WA MLO ID# 69386)

Dave's link below for the USDA website is a good place to get familiar, but you need an experienced lender to guide you through and interpret these. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

I suggest that you not bother trying to figure it out yourself. Simply contact a local mortgage broker, give them a full application, and let them quickly use their knowledge and expertise to answer your question. I constantly get phone calls from people who say "I read on the internet, and I know I qualify", and then I promptly tell them they don't. For a USDA loan in MN or WI, visit www.MortgagesUnlimited.biz/USDA

There is a list of guidelines, however you'll have a very hard time deciphering exactly what they mean.. Some loan officers with 20 years experience cannot understand half the stuff that's in there.. save yourself some major grief and contact a LOCAL mortgage broker and apply with them. Once they see your complete scenario, they will be able guide you to the right loan product for your specific situation. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

2/24/2014Calvin - did you receive what you needed regarding the USDA guidelines ? if you need any additional assistance- let us know ..thanks Dave Skow WA MLO #278613 Eagle Home Mortgage2200 6th Ave #100 Seattle WA 98121w 206 714 9745 fax (877) 412 2557daveskow@eaglehm.com dskow@eaglehomemortgage.comwww.eaglehomemortgage.com/daveskow

4/14/2014Calvin - did you receive what you needed regarding the USDA guidelines ? if you need any additional assistance- let us know ..thanks Dave Skow WA MLO #278613 Eagle Home Mortgagew 206 714 9745 daveskow@eaglehm.com

4/29/2014Calvin - did you receive what you needed regarding the USDA guidelines ? if you need any additional assistance- let us know ..thanks