On April 20, 2009 USDA Rural Development implemented consolidated income limit bands for the Single Family Housing Guaranteed Loan Program. The consolidated income limit band will assist Rural development to expand upon our mission to increase affordable home ownership opportunities within eligible rural communities.
The consolidated income limit bands will offer two adjusted income brackets:1-4 and 5-8. Households with more that eight members will have an additional added to the 5-8 bracket to determine eligibility. current eligible deductions for dependents, childcare cost, medical expenses, and disability expenses will remain in effect per RD Instruction 1980-D, section 1980.348.
When the revised RD Instruction 1980-D Exhibit C is published the income section of the nationwide eligibility website and the Guaranteed Underwriting system (GUS) will also be updated. Search to see if your home you want to purchase in the nationwide eligibility website
Great news for many in Ocala Florida. Many home here are eligible for USDA funds. Now a family of 1-4 can make $73,600 annually and families of 5-8 can make $97,150 annually…. so a single person with no children making $73,600 a year can qualify.
This is a huge opportunity since the majority of first time home buyers do not have a down payment and USDA is 100% financing. USDA also is low interest rates and credit scores need to be 620. Need to know if you qualify. Call Rhonda and I will hook you up with a great lender. Once your qualified I will search for that perfect home for you.
Call Rhonda 352-266-2637