Kentucky USDA Guaranteed Rural Housing Mortgage Guidelines

Kentucky USDA Rural Housing Mortgage Loans


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Kentucky Mortgage USDA Loan Requirements

What are the Kentucky USDA Mortgage Loan Requirements?
To decide if you qualify for an USDA Mortgage Loan, we will look at:

  • Your income and your monthly expenses. Standarddebt-to-income ratios are 29/41 for USDA Loans. These ratios may be exceeded with compensation factors.
  • Your credit history (this is important, but USDA’s credit standards are flexible). A FICO score of 640 or above is required for all loans
  • Your overall pattern rather than to individual problems you may have had.

To be eligible for an Kentucky USDA Mortgage, your monthly housing costs (mortgage principal and interest, property taxes and insurance) must meet a specified percentage of your gross monthly income (29% ratio). Your credit background will be fairly considered. At least a 640 FICO credit score is required to obtain an USDA approval through Lending. You must also have…

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