Can first time home buyers with fair credit qualify for USDA loans

Absolutely. There are income and area eligibility requirements, as well as credit requirements, however if you your credit is in decent shape and you have sufficient income, you can qualify for USDA. The best thing to do would be to fill out an application with a loan officer, and see what the best solution would be for you.Check out my reviews and feel free to contact me online. www.zillow.com/profile/adamcgeiser

Hi Frelly, You sure can. USDA allows lenders to request credit waivers as long as there are compensating factors so you just need a lender (like me) that has a lot of experience with the USDA program. Please feel free to contact me for more information or help. John Burke | Senior Mortgage | Great Plains National Bank | http://www.usdamortgageonline.com | (877)228-9069 | Lending in ALL 50 states |

Good Morning! Credit is only one item reviewed for this program and any other, but typically you need to have a 620 FICO or greater along with no current derogatory credit or judgments reporting on your credit file. The Household Income is also reviewed based on the area you are looking to purchase in and the Property Location must be "Eligible" to use this program as well. Visit the following USDA Link for more details! http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Yes. See other answers.

Since everyone's definition of "Good, Fair, Poor" credit is different, the credit reporting agencies use a scoring model to determine if someone is creditworthy. Depending on what your credit scores are and what the lender's requirements are will determine if your within the acceptable range. But understand that credit is only one of about a hundred different things a lenders looks at when determining one's eligibility.. it's best you just reach out to a local mortgage broker and let him look at your complete loan scenario.. only then will you know for sure. 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