GREAT NEWS! USDA increases income limits
USDA’s new, higher household income limits for its Guaranteed Loan program will be in place for the rest of 2018 and likely most of 2019.
The USDA loan program has two key components to determine a homebuyer’s eligibility:
- The property location, which must be located in a USDA-approved rural location.
- The household income, which must fall below a certain limit. The income limit for households of 1–4 members are now $82,700 for most U.S. locations. For households with 5+ members, the limit is $109,150 for most locations. (High-cost locations may permit income limits much higher.) Buyers can look up their income limits by using the USDA income calculator.
Please note that income to determine USDA…