SS Memo 09-04

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING

Date:  April 9, 2009

2009 Income Limits

The 2009 limits for AHFC income-restricted loan programs and program options, based on HUD’s FY 2009 income limits, are available; changes are effective immediately. Please note the Tax-Exempt Program Non-Targeted Area limits include an upward income adjustment for two “High Housing Cost Areas”.   However, there is no guaranty this upward adjustment will continue into subsequent years. The following are attached:

  • Tax-Exempt Program Non-Targeted Areas
  • Tax-Exempt Program Targeted Areas
  • Interest Rate Reduction for Low-Income Borrowers
  • Affordable Homeownership Guaranteed Loan Program
  • State Veterans Preference
  • Rural Enhanced Loan Program

Form PRG-46 or PRG-46T (for targeted areas) dated 03/09 is required for all loans committed on or after April 15, 2009. Lenders are reminded that the PRG-46T is only for use on loans made in Targeted Areas.


FORMS GUIDE REVISIONS:  CONTACT UNDERWRITING

Available in PDF (Adobe Acrobat or Adobe Reader is required to read and print PDF files).

Revised Forms

PRG-46      Revised 03/09
PRG-46T    Revised 03/09

Attachments

Available in PDF (Adobe Acrobat or Adobe Reader is required to read and print PDF files).

Tax-Exempt Program Non-Targeted Areas
Tax-Exempt Program Targeted Areas
Interest Rate Reduction for Low-Income Borrowers
Affordable Homeownership Guaranteed Loan Program
State Veterans Preference
Rural Enhanced Loan Program
PRG-46
PRG-46T