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The main criterion is that the homes market value may not exceed the USDAs applicable area loan limit. While this will vary by area, it currently ranges from $336,500 on the low end (like in Albany, NY) to $970,800 on the high end (like in Santa Cruz, CA).
Eligibility Requirements Participants must be at least 60 years of age and reside in one of the states or on one of the Indian reservations that participate in CSFP. States may establish local residency requirements based on designated service areas (but may not require a minimum period of residency).
If you have never worked with the United State Department of Agriculture (USDA) and dont have a farm and tract number, you will need to make an appointment with the Farm Service Agency (FSA) at your local USDA Service Center to establish eligibility for USDA programs.
For FSA-related 1098 forms, call 866-729-9705. Visit your local USDA service center.
USDA loan borrower requirements Income limits: Household income cant exceed 115% of the area median income to meet USDA income eligibility requirements. Stable income: Applicants must demonstrate stable and dependable income, typically for at least 24 months before applying.

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Approved USDA loan lenders typically require a minimum credit score of at least 620 to get a USDA home loan. However, the USDA doesnt have a minimum credit score, so borrowers with scores below 620 may still be eligible for a USDA-backed mortgage. If your credit score is below 620, theres still hope.

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