USDA loans represent a fantastic opportunity for homebuyers. After a recent change, more and more people can qualify for them.
There have been some recent changes to USDA loan programs that we wanted to make sure you knew about today.
Income limits have gone up for these types of loans. For a family of four, you can qualify for this loan with an income up to $86,850. The limit is now $114,650 for a family of five or more.
For households with over eight people, we get to add close to $7,000 per household family member to that annual income calculation. As more and more families are exploring generational living, this is good news because the USDA loan lets you get into a home with little to no down payment.
This is a great program if you’re eligible. If you have any questions about the program or anything else, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.