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no down payment: USDA "Officially" increases income limits for purchase and refinance loans! - 04/19/09 10:44 PM
Tomorrow, April 20th, is the day that the U.S Department of Agriculture increases its maximum income requirements to qualify for Rural Development Guaranteed home loan program.  This increase is long over due.  Technically, USDA is at least a month late in the increase. 
The new income limit will allow so many for buyers of primary residences the ability to qualify for a USDA insured home loan.  Currently, the income requirements are structured on a "per member" household.  Tomorrow, Monday, April 20th, the income limits will be transformed into a two-tier system.
For borrowers that are looking to purchase a primary residence, … (1 comments)

 


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