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What's going on guys Tyler wanted to run through the USDA loan approval process, so basically we've talked about the USDA loan before you know credit and things like that so USDA loans specifically before we go over that remember to like you know subscribe to the channel we make videos you know regarding loan process credit you know investments things like that also leave a comment down below what type of you know loan program did you end up going through when you purchase your first home, or you have questions about the USDA loan in general anything I didn't go over you know something you would like to hear about the future let me know down below so the USDA loan specifically today we're going to talk about the USDA guaranteed the 502 guaranteed rd loan, so this is the cut and dry plain Manila no down payment government you know rd loan, so there's only really two no down payment government loans a VA in the USDA and the USDA does have a few different direct and some subsidized programs and things like that but the guaranteed is the normal one the one that everyone really would be applying for the public so USDA underwriting in the last few years has gotten a little more strict used to be pretty easy to get them done with a little lower credit score they weren't as picky about you know some stuff on your credit if you were six 20 or above 640 or above it was pretty cut-and-dried pretty easy to get done recently over the last probably year and a half the automated underwriting system named Gus the guaranteed underwriting system has gotten a little more strict on some things, and we've been seeing more readout set that you know it make a little more difficult to get the loan done so a couple of things upfront you know what sort of things can disqualify you from the USDA guaranteed loan because it isn't available to everyone specifically the program is for moderate income households in rural areas in move-in condition move-in-ready condition houses so let's break that down moderate income households how do you figure out if you or your household will qualify, so first thing is household is what we're saying so you your spouse grandma living in the basement you know your twenty six-year-old son out of college with in the Attic anyone in the house is being accounted for with the USDA loan, so you have to be under the income limits for the household not just who's on the loan, so you can go to the USDA site under guaranteed loan income restrictions income requirements, and you can find your it goes by county and then how many people are in the house and there's different little calculations that go along with it, but you can calculate it for yourself what your area is going to require so, but typically you know somewhere between eighty and a hundred thousand for the household if you're quite a bit over that you know you if you yourself just the borrower make 120 and then a couple of people make 20 grand here and there you know you can pretty much...
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