The USDA has announced the income limits for the Guaranteed Rural Housing (GRH) Program have changed effective June 2, 2010. The new income limits can be found at the USDA Rural Development Eligibility Home page by following either of the links provided below:
http://eligibility.sc.egov.usda.gov
OR, http://www.rurdev.usda.gov/rhs/sfh/sfh%20guaranteed%20loan%20income%20limits.htm
Note: The number of persons used for income eligibility is the number of people living in the home, not the number of applicants on the file.
Under the income limit structure for non-high cost counties, those income limits will be:
1-4 Person 5-8 Person 74,050 97,750
Please consult the above websites for the specific income limits and areas of geographic eligibility for the USDA GRH program in the states and counties served by your organization.
As a reminder, unlike other home-financing programs, there are no loan limits for the USDA Guaranteed Rural Housing Program.
Guaranteed Rural Housing applicants is based on their ability to meet the repayment ratios for the program, while simultaneously staying within the program's income limits.
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