The USDA just released their new income limits for 2019. This is the Maximum income limit allowed to be eligible to use USDA Financing.
For a large portion of NJ the "small family" (up to 4 people) limit is $108,550 and the Large family (5-8 persons) is now $143,300.
(This is the household income for all working members of a family even if they are not on the mortgage application)
For the lower income counties the limits vary from $92,600 to 103,650 and for the higher income areas can be as high as $117,100 (in both cases that represents the small family limit)
Keep in mind the USDA is Geographically specific not only for income, but for property as well. It is one of the best ways to finance a home with little to no money down if you are buying in a USDA eligible area and fall under the income limit for the area. We always need to check the property address to confirm eligibility.
As always- give me a call or shoot me out an email with any questions!
Robert Rauf
Mortgage Loan Originator NMLS# 248937
http://www.homebridge.com/RobertRauf
or my blog: http://activerain.com/blogs/rrauf
Office: (732)908-4868 Cell (732)740-0175
RRauf@HomeBridge.com
www.RobertRauf.com
Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721, Manchester 08757 08733, Manahawkin 08050, Robert Rauf is a Licensed Mortgage Loan Originator in New Jersey
Call me for all your residential lending needs!
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