“Compensating Factors” For USDA Home Loan Approval

At the very end of the USDA RD Home Loan Underwriting Guidelines there's a section that's titled "Compensating Factors." ┬áThis brief section is for the situation where a borrower is just outside the guidelines to qualify for a USDA Home Loan, meaning ┬ásomeone with housing and debt ratios higher than 29/41. We've seen folks who have income we can't … [Read more...]