Real Estate Home Mortgages/USDA income limits


Thank you for your time. I'm trying to find the correct income limit amount on 4 persons in Saluda County, South Carolina (rural county) a for the USDA loan. So far I've found 3 different answers. Also, can the loan cover closing cost? If so, under what circumstances?

In 2014, my wife & I exceeded all 3 limits I found. However, in this current year my wife changed jobs & is now bringing in about 50% less this year. I'm estimating $68k this year down from $84k in 2014. Which puts us well under the 3 different limit amounts I found. Our debt to income ratio is perfect & our credit is great (upper 700's).

We currently rent having sold our house last year. We lack the collateral to obtain a FHA loan or conventional loan. I just want to be certain of the exact income limit amount for the USDA loan. Also, do you have any suggestions as to what other options we have as far as loans. Neither one of us is a veteran.

Thank you.

Sorry; I do not do USDA loans.
Here's a Link that might help you.
Typically a local Bank lender is best for this type of loan.
You should be able to get the information you need direct from the USDA at:
All the best,
- Al
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This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

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Al Rodenburg


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Certified Mortgage Planning Specialist (CMPS Institute) ; University of Illinois - at Chicago; Florida State University; Principia College; Lake Forest School of Management; Roosevelt University; Salt Lake CC

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