First, USDA Loans are not restricted to first time home buyers. U.S. citizenship (or permanent residency) is required, however. Additional requirements include a consistent income, usually for at least 24 months, an acceptable credit history, and a monthly payment that’s 29% or less of your monthly income (total debt payments not to exceed 41% of your income, unless you have a credit score above 680.) For those with lower – or no – credit scores, there are a few more underwriting standards or “nontraditional” references that may be utilized.