The USDA has announced the income limits for the Guaranteed Rural Housing (GRH) Program have changed effective January 18, 2012. Since 2009 income limits are based on a two tier income structuring consisting of a 1 – 4 member household and a 5 – 8 member household which replaced the 1 – 8 person structure in 2008.
You will notice that the income limits are again displayed in an 8 tier format, however, the moderate income level is still based on a 2 tier level.
Here is an excerpt of the announcement:
The 2012 Income Limits for the Single Family Guaranteed Loan Program were published today with an effect date of today, January 18, 2012. The Guaranteed Underwriting System and the Income Eligibility calculator in the Eligibility website have been updated to use the new income limits.
As a reminder, unlike other home-financing programs, there are no loan limits for the USDA Guaranteed Rural Housing Program. The maximum loan amount for USDA 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.
Wisconsin USDA Rural Housing Income Limits: PDF
Illinois USDA Rural Housing Income Limits: PDF
Florida Income Limits for Rural Housing Loans – PDF
Minnesota Income Limits for Rural Housing Loans – PDF
View additional information on USDA rural housing loans on our website. For questions or to see if you qualify, contact us below or apply online!
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