Our friends at the U.S. Department of Agriculture/Rural Development (USDA/RD) have made changes to their Section 502 Guaranteed Loan Program so more Vermonters may be eligible.
USDA/RD has increased its income limits for the program, which help determine who might be eligible for a home loan. At the same time, they've moved to a two-tiered system — for families of one to four people and five to eight people — to simplify the process.
"This will have a huge impact for qualifying customers as it relates to income eligibility based on household size," according to USDA/RD Housing Program Director Bob McDonald.