Skip to main content

Mortgage Research Center Releases New USDA Calculator

NationalMortgageProfessional.com
May 07, 2020
Photo credit: Getty Images/Deagreez

The free calculator allows users to quickly see updated income limits in their area by household size.

Through its website, USDAloans.com, Mortgage Research Center (MRC) just released a new interactive USDA Income Limit Calculator reflecting the latest increases to the USDA’s maximum income limits. The free calculator allows users to quickly see updated income limits in their area by household size.
 
Through its website, USDAloans.com, Mortgage Research Center (MRC) just released a new interactive USDA Income Limit Calculator reflecting the latest increases to the USDA’s maximum income limits“The new income limits make the USDA loan an available option for even more homebuyers looking for $0 down payment options,” said Alex Blum, general manager at Mortgage Research Center. “MRC is proud to provide this tool to help educate homebuyers and lenders alike.”
 
Through a special procedure notice on May 4, 2020, the USDA increased maximum eligible income limits of the Single Family Housing Guaranteed Loan Program in most U.S. counties. The baseline USDA loan income limit for one- to four-member households is now $90,300 or $119,200 for five to eight member households.
 
Total household income should not exceed these limits to be eligible for a USDA home loan, but income limits vary by location to account for cost of living. The USDA income requirements are set at or below 115% of the median household income in each region and are updated annually.

 
Published
May 07, 2020
More from
Tech
Report: Academy Mortgage Targeted By Ransomware Group

Group known as BlackCat steals confidential files, posts images of them on the dark web.

May 16, 2023
National MI Integrates With Vesta LOS

Lenders can now view quotes and order risk-based mortgage insurance via the Vesta LOS platform.

May 09, 2023
Redfin Joins Zillow in Adding ChatGPT

Plugin is available now for eligible ChatGPT users to install.

May 04, 2023
Zillow Launches ChatGPT Plugin For Real Estate Searches

Plugin is in alpha phase and is accessible to a select number of ChatGPT users.

May 03, 2023
Tavant Set To Add Asset Analysis To AI Lending Platform

Will help speed underwriting process and reduce costs, company said.

Apr 26, 2023
Array Announces Launch of Debt Manager App

Embeddable tool provides comprehensive view of credit and loan account information.

Apr 24, 2023