Effective July 22, 2019, income limits for all Kentucky Rural Housing USDA Rural Development Loans and their Counties have increased.
After a four year pilot that was tested in 16 States, USDA published a final rule making changes to allow for a two-tier income structure. Rather than buyer(s) meeting the income limit based on household members, income limits are divided into 2 groups: 1-4 and 5+ household members. Each Kentucky county has an income limit for families with 4 or fewer people, and each has a limit for households with 5 or more people.
Reminder on how to exceed Kentucky USDA Income Limits using the following exceptions:
• $480 for each child under 18
• Documented child care expense
• Full-time college students 18 or older
• Disability expense incurred
• Medical expense for elderly or disabled
The Guaranteed Underwriting System (GUS) and the Income Eligibility calculator on USDA Eligibility website have been updated to use the new income limits for every Kentucky County this is eligible for USDA loans in Kentucky
New Income limits for most counties (*) in Kentucky are $86,850 for a household family of four and household families of five or more can make up to $114,650.
The Northern Kentucky Counties (***) of Boon, Kenton, Campbell, Brackenn, Gallatin, and Pendleton are $93,500 for a household of four or less and up to $123,400 for a family of five or more.
USDA Eligible Areas in Northern Kentucky
USDA Income Limits
Boone, Kenton & Campbell Counties (N. KY)
$93,500 (family size 1-4)
$123,400 (family size 5 or more)
Grant, Owen & Pendleton Counties (N. KY)
$86,850 (family size 1-4)
$114,650 (family size 5 or more)
With the new changes for 2019 USDA Income limits, the Jefferson County Louisville, KY Metro area (**) saw an increase of $87,600 for a family of four and up to $115,650 for a family of five or more. The metro area surrounding counties of Jefferson County includes Oldham, Bullitt, Spencer are included in these higher income limits for USDA loans.
Remember, the entire Jefferson County and Fayette County Kentucky counties are not eligible for USDA loans. Along with parts of the following counties Daviess (Owensboro), Mccracken (Paducah), Madison County, (Richmond), Clark County (Winchester), Warren (Bowling Green), Hardin (Fort Knox and Radcliff), Bullitt(Hillview, Maryville, Zoneton, Fairdale, Brooks), Franklin, (Frankfort), Henderson (Henderson City Limits), Christian County (Hopkinsville, Fort Campbell), Boyd County (Ashland city limits) and the most Northern Parts of Boone, Kenton, Campbell Counties of Northern Kentucky (Covington, Florence, Richwood, Hebron, Ludlow, Fort Thomas, Bellevue, Ryle, Beechwood, ) see map below
,Below is the website where you can check and make sure
|New 2019 USDA Rural Housing Income Limits for Kentucky||Cincinnati (OH, KY, IN FMR), Boone, Kenton, Campbell, Pendleton, Gallatin***||Household income of 4 or less:
|Household income of 5 or more:
|Shelby, Bullitt, Oldham, Spencer**||**$87,600||** $115,650|
|Rest of the Kentucky Counties in Kentucky not listed above*||*$86,850||
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364
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