usda guarnteed rural housing income limits for Kent and Sussex Co Delaware

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Mortgage and Lending with Academy Mortgage NMLS#329710

Borrowers participating in the Rural Development Program may have an income of up to 115% of the median income for the area. The allowable income depends on the county where the subject property is located and the number of members in the household. For more information regarding the income limits for this program, visit the income guidelines page on USDA Rural Development web site

Find the county or metropolitan statistical area (MSA) listed vertically on the chart for the subject property and the number of household members listed horizontally to find the gross income allowance. (There are two income lines for each county or MSA. The top line applies USDA's Direct housing program and the bottom line to USDA's Guaranteed housing program at the bottom. Use the bottom line.)

Common adjustments to the gross income include childcare for children 12 years and younger; a $480 deduction for each child under 18 years, 18 years or older and handicapped, or a full-time student who is not the applicant or spouse or co-applicant; and a $400 deduction for each elderly household member.

 

1 person   49,550

2 person   56,600

3 person   63,700

4 person   70,750

5 person   76,400

John Cashion


Home Mortgage Consultant

Wells Fargo Home Mortgage


250 Beiser Blvd Suite 201
Dover, Delaware 19904
302-672-1213 Tel
888-678-3250 Toll-free

302-242-1975 Cell

302-678-7134 Fax
john.w.cashion@wellsfargo.com

http://www.johncashion.com

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Rainmaker
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Kent Simpson
Realty One Group Mountain Desert - Tucson, AZ
Real Estate Is About People

I love the USDA Rural loans - just gotta make sure to allow about 45 days in the contract for closing - now that they've moved all of the underwriting to 1 spot in Florida!

Sep 03, 2008 04:21 PM #1
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Rainer
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