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USDA 100% Financing Gets An Income Facelift

Effective Monday, April 20, 2009, the income eligibility guidelines for USDA 100% guaranteed mortgage loan financing will be changed.  The change, unlike most changes in our current mortgage industry, is for the better.  So what is the change?… Higher income limits in bracketed tiers versus the original per family member sections.

Normally, I would compare the difference, but who really cares what once was if new is better.  (If you really want to see the old values, click here.)  So here is what the new tiers with higher limits looks like:

Counties 1-4 Persons 5-8 Persons
All Counties Except Those Listed Below 73,600 97150
Clay, Duvall, Nassau, St. Johns Counties 74,900 98,850
Collier County 81,450 107,500
Palm Beach County 86,700 114,450
Okaloosa 76,250 100,650

Not Eligible in Broward, Pinellas, Monroe

For each person over 8-persons, add 8% of the 4-person limit.


If you total income exceeds the limits, certain adjustments can be made, such as childcare expenses for children age 12 or younger. You can deduct $480 for anyone under 18 or a student who is not one of the applicants. Other deductions may be available. No need to memorize deductions. 

Example: Lee County 4-person family (2 adults, 2 children) has a gross income of $84,560. Child care for the two children age 12 or less is $10,000 annually. Is the threshold income at or below the limit? YES! $85,860 less

$10,000 child care less $480 for each child = $74,900.  They are within the limit.

Want to see if you qualify or become pre-approved?  Call us today to get the process started. 

For some time now, Knightlines Mortgage Services has been offering the people of Florida a convenient way to finance and re-finance their residential property.

But that isn’t the entire story - we are also doing commercial lending in all 50 states.  AND - now we can offer commercial financing OUTSIDE of the country as well.  Caribbean, South America, etc - just call for the details.

Jason Price, Owner/Principal Broker

(352) 308-7219 Phone

(888) 807-4123 Fax

18515 Demko Road

Altoona, FL 32702