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USDA Mortgage

I am looking at purchasing a home with no money down and was told about the USDA loan program. The property that I am looking to purchase is eligible for the program; however from what I see online, my income is about $6k over the maximum. Does anybody know if they really stick to these income requirements? Are there any other programs similar to this that might allow for my slightly higher income? Thanks!
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June 04 2011 - Palmetto
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They definitely stick to those income limitations.  However there are ways to reduce the amount of your eligible income.

The comprehensive list of possible deductions to reduce the adjusted gross income downwards in an effort to become eligible for USDA is athttp://www.rurdev.usda.gov/regs/regs/pdf/1980d.pdf - under section 1980.348
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June 04 2011
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Yes, they do stick with those income requirements.    The only other national zero percent down program I know is the VA program.

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June 04 2011
 
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