USDA Loan Product
- 100% financing (no down payment required)
- USDA guarantee fee 1% of loan amount
- 600 minimum credit score
- Location and income restrictions based on County.
- Income must be determined by ALL household members not just buyer.
- Alabama household income limit for a 1-4 family is $112,450 and 5-8 family is $148,450
Common Documents Needed For A Mortgage
• Driver’s license
• Social Security Card
• Full Month of Paystubs
• Last two year’s W-2s
• Last two year’s Tax Returns
• Most recent two-month Bank statements (all pages)
• Social Security / Retirement award letter (if applicable)
• Bankruptcy discharge papers (if applicable)
• Divorce Decree and/or Child Support orders (if applicable)