USDA Loan Checklist

Government-issued photo ID Social Security Number (all borrowers) 2-year address history U.S. citizenship or permanent resident status

Pay stubs — last 30 days W-2 forms — last 2 years Federal tax returns — last 2 years Household income must be at or below 115% of Area Median Income (AMI) All household member income counted (not just borrowers) If self-employed: 2 years business returns

Bank statements — last 2–3 months Investment / retirement statements No down payment required — but closing costs must be covered Seller can contribute up to 6% toward closing costs

Recommended minimum: 640+ (below may require manual underwriting) DTI: front-end ≤ 29%, back-end ≤ 41% (exceptions possible) No outstanding federal judgments or debarments

Property must be in a USDA-eligible rural/suburban area — check at eligibility.sc.egov.usda.gov Must be primary residence (not investment or vacation home) Modest size — no luxury features per USDA guidelines Property must meet USDA/HUD housing quality standards Signed purchase contract Home inspection recommended

Upfront Guarantee Fee: 1% of loan amount (can be financed) Annual Fee: 0.35% of remaining loan balance (paid monthly) No prepayment penalty Rural Development Guaranteed Housing Loan Program