We have all been anticipating changes in the income guidelines for RD loans to be increased, however today the USDA announced it will not be making those changes until at least March 20, 2009. The changes would allow families from 1 to 4 members to qualify at the 4 person income limit ($70,750 in most areas of Florida), and families from 5-8 members could qualify at the 8 person income limit ($93, 400 respectively).

This delay comes just as we were expecting the change to take place so it has the potential to impact the plans of many buyers. Although the March 20 date has been mentioned it is also not certain to be implemented at that time so be careful about committing deals to these guidelines.

Forewarned is forearmed, if you have buyers that are being impacted by this delay make sure you are dealing with an experienced RD lender that is familiar with the various income deductions that are currently available. If you have any questions, you know who to ask!

Gerry Suarez, Jr.

Your FHA Loan Pro!