USDA RURAL HOUSING Income Limit Change?

By
Mortgage and Lending with Guaranty Bank & Trust Co NMLS ID #68160

According to a recent lender notice, a direct final rule was published by the Federal Register to simplify the USDA Rural Housing income limit structure.  These income changes will become effective January 20, 2009 UNLESS adverse comments are received by January 5, 2009. 

Until final acceptance and implementation of these proposed new income limits, the current limits below will be utilized.

For more information about the USDA Guaranteed Rural Housing Program, please contact DOUG CAPPS at (662) 429-5100.  Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS, "A MS and TN Licensed Mortgage Company"

Comments (7)

Anonymous
LD

The date has been changed to March 20, 2009

Jan 21, 2009 10:06 AM
#1
Doug Capps
Guaranty Bank & Trust Co - Hernando, MS
MMS, CLO, CRMS

You are correct, I have not been able to update this post.  Thank you!

Jan 21, 2009 12:32 PM
Anonymous
Andrew H

is this still set to change MARCH 20

Mar 10, 2009 01:31 PM
#3
Doug Capps
Guaranty Bank & Trust Co - Hernando, MS
MMS, CLO, CRMS

I've had numerous people call and ask me, but I have not heard a "yes" or a "no."  Honestly, I don't know if anyone will know until it happens.... I know a few people that will be HAPPY if it does change!!

Mar 10, 2009 01:38 PM
Anonymous
J Chris Bogoslofski

RD Alabama has advised the March 20th 2009 date has yet been extended again to April 20th 2009 effective date. My contact advised this is a firm date, as the senante appropriations committee requested an aditional 30 days to implement -but "I would not bet my house on it".

J Chris Bogoslofski -Mortgage Solutions, Inc.

 

 

Mar 18, 2009 04:22 AM
#5
Anonymous
lea

any new word yet as to whether income limits will increase as exprected?

Apr 11, 2009 07:20 AM
#6
Tim Bradford
Cleveland, OH
NMLS 250013

Doug,  do you have a link to the regulations?   I did look on the usda site and could not find anything.  

Also, to edit your post you do have to log in.   I see your followup comments appear as if you are not logged in.  

Apr 17, 2009 10:13 AM