USDA loan eligibility varies according to your financial situation.  USDA loans are offered to qualified persons, regardless of profession, so long as they meet income and location requirements.

Beyond the property and income requirements, the USDA also requires that you:

• Agree to personally occupy the dwelling as your primary residence
• Be a U.S. citizen, U.S. noncitizen national, or qualified alien
• Have the legal capacity to incur the loan obligation
• Have not been suspended or debarred from participation in federal programs
• Demonstrate the willingness to meet credit obligations in a timely manner

USDA guaranteed home loans can fund only owner-occupied primary residences.

Additional eligibility requirements include:

• U.S. citizenship or permanent residency (Geen Card).
• A monthly payment which includes principal, interest, insurance, and taxes. That is 29% or less of your monthly income. Additional monthly debt payments you make cannot exceed 41% of your income. Nevertheless, the USDA will review higher debt ratios if you have a credit score above 660.
• Dependable income, typically for a minimum of 24 months
• An acceptable credit history. This means no accounts converted to collections within the last 12 months and other criteria. You may still qualify by proving that your credit was affected by circumstances that were temporary or outside of your control, including a medical emergency.

Applicants with credit scores of 620 or higher receive streamlined processing.

Those with scores below 580 must meet more stringent underwriting standards.

Finally, those without a credit score can qualify with “nontraditional” credit references, such as rental and utility payment histories.