![](media/image1.png){width="1.5555555555555556in"
height="1.0694444444444444in"}For more information contact:

**E. J. Stapler 706-546-2165 (during duty hours)**

**706-549-4194 (after hours)**

Rural Development

[News Release]{.underline}

*(Note: Income limits vary by county. Attached are income limits for
Harris and Troup counties for both the direct and guaranteed home loan
programs. Income limits for families larger than 6 are available by
calling the USDA office listed in the last paragraph)*

**Additional areas in Harris and Troup counties eligible for USDA home
mortgages**

*(Athens, GA January 1, 2003)* \-- The City of West Point is eligible
for USDA-Rural Development\'s home loan programs effective January 1,
2003. West Point was previously ineligible, as were three adjoining
locations in nearby Alabama, because they were judged to be contiguous.
All these areas are now eligible for all Rural Development housing
programs.

\"We are excited about the opportunity this opens up to first time home
buyers in West Point,\" Workman said. \"The time has never been better
to stop paying rent and start investing in your family\'s future.
Interest rates are low and our programs are designed to protect the home
buyer, so I would encourage interested families to ask their realtors or
lenders about our programs.\"

USDA Rural Development\'s home financing programs are available to
residents in rural areas, towns and communities with a population of
less than 20,000. Loans are available to purchase, construct or
rehabilitate a house. Rural Development\'s housing programs are for
families with very-low to moderate incomes, and those income limits vary
by county. Home loans require little to no down payment. Based upon the
applicant\'s income, some loans have an interest rate as low as 1%.
These loans are made directly from the federal government to the
families through Rural Development.

The guaranteed loan program allows mortgage lenders to provide 100%
financing to moderate-income rural families. Eligibility requirements
include being a moderate-income household, having an acceptable credit
record and adequate repayment ability. The property being financed must
also meet certain adequacy standards. Home buyers save the cost of
Private Mortgage Insurance (PMI), because Rural Development guarantees
up to 90% of the loan. This can save a new homeowner around \$100 per
month, depending on the cost of the house. PMI usually averages about 1%
of the house purchase price and is paid monthly.

Home repair loans are available to qualifying low-income rural
homeowners to remove health and safety hazards from their homes and to
make homes accessible for people with disabilities. A homeowner, who is
62 years old or over, may qualify for a repair loan at 1% interest.

For information on USDA Rural Development home loans in Troup county,
call the Newnan office at 770-253-2555. For information in Harris
county, contact the Byron office at 478-956-6484. Offices are normally
staffed between 8 a.m. and 4:30 p.m. weekdays.

MORE - Income Limits follow - p 1 of 2

*USDA housing story*

*Income limits*

*p 2 of 2*

*Harris County Income Limits for Direct Home Loans*

  ------------ ------------ ------------ ------------ ------------ ------------ ------------
               *1 person*   *2 people*   *3 people*   *4 people*   *5 people*   *6 people*

  *Very Low*   *\$15,900*   *\$18,150*   *\$20,450*   *\$22,700*   *\$24,500*   *\$26,350*

  *Low*        *\$25,400*   *29,050*     *\$32,700*   *\$36,300*   *\$39,200*   *\$42,150*

  *Moderate*   *\$30,900*   *34,550*     *\$38,200*   *\$41,800*   *\$44,700*   *\$47,650*
  ------------ ------------ ------------ ------------ ------------ ------------ ------------

*Harris County Income Limits for Guaranteed Home Loans*

  ------------ ------------ ------------ ------------ ------------ ------------ ------------
               *1 person*   *2 people*   *3 people*   *4 people*   *5 people*   *6 people*

  *Low*        *\$25,400*   *\$39,050*   *\$32,700*   *\$36,300*   *\$39,200*   *\$42,150*

  *Moderate*   *\$43,800*   *\$50,050*   *\$56,300*   *\$62,550*   *\$67,500*   *\$72,550*
  ------------ ------------ ------------ ------------ ------------ ------------ ------------

*Troup County Income Limits for Direct Home Loans*

  ------------ ------------ ------------ ------------ ------------ ------------ ------------
               *1 person*   *2 people*   *3 people*   *4 people*   *5 people*   *6 people*

  *Very Low*   *\$16,800*   *\$19,200*   *\$21,600*   *\$24,000*   *\$25,900*   *\$27,850*

  *Low*        *\$26,900*   *\$30,700*   *\$34,550*   *\$38,400*   *\$41,450*   *\$44,550*

  *Moderate*   *\$32,400*   *\$36,200*   *\$40,050*   *\$43,900*   *\$46,950*   *\$50,050*
  ------------ ------------ ------------ ------------ ------------ ------------ ------------

*Troup County Income Limits for Guaranteed Home Loans*

  ------------ ------------ ------------ ------------ ------------ ------------ ------------
               *1 person*   *2 people*   *3 people*   *4 people*   *5 people*   *6 people*

  *Low*        *\$26,900*   *\$30,700*   *\$34,550*   *\$38,400*   *\$41,450*   *\$44,550*

  *Moderate*   *\$43,800*   *\$50,050*   *56,300*     *\$62,550*   *\$67,550*   *\$72,550*
  ------------ ------------ ------------ ------------ ------------ ------------ ------------