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Many additional families in Virginia are now eligible for rural housing loans from the Farmers Home administration, FHA State Director, Richard A. Goodling, announced today.
“In families where both husband and wife are employed,” Mr. Goodling explained, “the new policy permits half of the wife’s gross income to be excluded in determining whether the total family income is within the maximum limit for loan eligibility.”
For example, the husband is the principal source of income with $6,000. His wife earns $4,000. His entire income, plus half of his wife’s, or $2,000, total $8,000. This is within Virginia’s moderate income level of $8,000 so that family may be eligible for a
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