USDA Rural Development has confirmed that the proposed change in the income limit structure for the USDA Guaranteed Rural Housing Program will be implemented by USDA Rural Development as planned on April 20th.
In summary, the current income limit structure that is based on household incomes from one to eight persons would be restructured as follows:
􀂃 1-4 person households would be qualified using only the 4-person limit.
􀂃 5-8 person households would be qualified using only the 8-person limit.
For example, the current base income limit for all non-high cost counties is: 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
49,550 | 56,600 | 63,700 | 70,750 | 76,400 | 82,050 | 87,750 | 93,400 |
Under the new income limit structure for non-high cost counties, those income limits would be:
: 1-4 Person | 5-8 Person |
70,750 | 93,400 |
To find if property is eligible for Rural Housing Development financing visit: http://www.rurdev.usda.gov/fl/grhinfo.htm\