Unlike other loan programs, the USDA home loan imposes a cap on the total cumulative income earned by all members of a household. Income for each member of the household is taken into consideration into the USDA income cap even if the members of the household are not on the loan. The income of other household members that are not on the loan will not be taken into consideration for debt to income ratio qualification purposes; however, it will be counted in the USDA income cap. Income information and documentation will need to be provided on any member of the household that is currently working even if they are not on the USDA home loan.
The USDA income cap is based upon two factors:
- The county you are purchasing the home in.
- The size of your household.