Category: USDA

USDA Mileage Income and Income Limit Restrictions

Question: Does USDA use mileage income when calculating the income limit? Answer: For eligibility calculation (annual income) you do have to count mileage. Following is the section of Chapter 9 where you can find this information. Reference: Chapter 9 & Attachment 9A – Income Analysis – Page 16 Supporting Resources: Chapter 9 & Attachment 9A […]

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USDA counts mileage income when calculating their income limits!

Related Article Title: USDA Mileage Income and Income Limit Restrictions Question: Does USDA use mileage income when calculating the income limit? Answer: For eligibility calculation (annual income) you do have to count mileage. Following is the section of Chapter 9 where you can find this information. Reference: Chapter 9 & Attachment 9A – Income Analysis […]

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If you are considering a manufactured home, there are some great financing opportunities available that you may want to explore first. Contact me and let’s discuss your situation!

Related Article Title: USDA Rural Development extends existing manufactured homes pilot program to August 31, 2020 Written by: David Hail, Staff Writer The USDA Manufactured Home pilot was due to expire August 31, 2019 but has now been extended through August 31, 2020.This is a great program for homebuyers if you have not explored it. […]

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USDA RD Eliminates Interest Rate Cap – Effective October 1, 2019

Written by: David Hail, Staff Writer A refreshing change has just occurred with the USDA loan. If you originate those loans you want to read through this article! Rule Synopsis: USDA has a rule in place that limits the rate cap on mortgage loans. This has been a costly impediment to low- to moderate-income borrowers […]

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USDA Rural Development extends existing manufactured homes pilot program to August 31, 2020

Written by: David Hail, Staff Writer The USDA Manufactured Home pilot was due to expire August 31, 2019 but has now been extended through August 31, 2020.This is a great program for homebuyers if you have not explored it. Rule Synopsis: This pilot program for the financing of existing manufactured homes under the Section 502 […]

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