The USDA Single Family Housing Guaranteed Program (long name) or SFHGP (short name), undergoes a change on Monday. This has been some time in the works but is finally firm. The maximum income limits to qualify for the program has changed from individual family member stepped program from 1 through 8 to a 1-4 and 5-8 family basis. This is the Rural Guaranteed program that provides 100% financing to people that income qualify for purchases outside of the urban growth boundaries of most metropolitan areas. In Lane County, that means almost anywhere outside of Eugene/Springfield.

The income limits, as of Monday, for Lane County are: $70,750 for a family up to 4 and $93,400 for a family of 5-8. 8% of the 4 person limit is added for each household member over 8. Additionally, all income for all members of the household is counted when determining the household income. There are some adjustments available and individual income calculations can be done here. To find out if a particular property is in or out of the urban growth boundary, you can check it here.

This map shows the area of Lane County (dark shading) that is not eligible for the program.

Please note: Existing manufactured homes are not eligible for this program. It is possible, but very difficult to place a new manufactured home on a property as part of this program. Mostly, the USDA program works most efficiently with a site built or "stick" built home.

One of the best aspects of this program is that it offers 100% financing (no money down) and no mortgage insurance. That makes homes a lot more affordable for those that don't have a lot of ready cash but can afford to make their house payment every month. Credit requirements are also quite liberal while rates are very competitive.

So, where can you purchase a home that qualifies for the USDA program? How about Creswell, Cottage Grove, Veneta, Junction City, Oakridge, Westfir, Swiss Home, Florence, Harrisburg, Halsey, and even some Springfield and Eugene addresses? The property currently listed at 8440 Thurston Rd, Springfield, comes back as eligible for this program. You can check out rural property addresses here. If you want more information about this program, please call or e-mail me.