USDA Refinance Loan – Household Income Eligibility

Date: May 15, 2012

When refinancing using a USDA Rural Loan, whether the program is the new USDA Pilot, USDA Streamline Refinance, or USDA non-StreamlineRefinance the borrower’s household income is evaluated to ensure thatthe household income doesn’t exceed the current USDA Income Eligibility Guidelines.

Household income is defined as all income sources for adult members of the household, whether they are on the mortgage loan or not. Situations in which a current USDA borrower can be excluded from obtaining a USDA Refinance include increase income from their job, spouse returning to work, marriage that increase the household size and earnings, or a member of the household moving out thereby decreasing the household size to less than five.

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