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2017 USDA Income Limits Update

2017 USDA Income Limits Update

The income limits for the USDA Single Family Housing Guaranteed Loan Program were recently updated and increased for new mortgages originated in 2017.  The maximum eligible income for this loan program is defined as the greater of 115% of the US median family income or 115% of the average of the state-wide and state non-metro median family incomes or 115/80ths of the area low-income limit.  The updated limits became effective on May 17, 2017.

 

The income limits for the local Central Coast area are as follows:

 

San Luis Obispo County

  • 1-4 Person Household – $93,950
  • 5-8 Person Household – $124,000

 

Santa Barbara County

  • 1-4 Person Household – $104,200
  • 5-8 Person Household – $137,550

 

Link to the directly to the USDA Single Family Housing Guaranteed Loan Program here, or directly to the USDA income document here.

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com