Newly Released FDIC Income Limits
These limits are to be implemented no later than 45 days after the effective date published by HUD. The effective date for these limits is April 1, 2021. Therefore, these limits must be implemented no later than May 15, 2021.
Please write across the top of the rent and income document "Effective 4-1-2021."
You must also print these in landscape mode to make them legible.
Tip Regarding Income Limits
Use only 3 rows: Very Low Income=50%, Low Income=80%, M_F Transition=140% of 80%.
THE MF TRANSITION limit is applicable ONLY at recertification. Households at this limit are designated LI but remember ONLY at recertification.
Tip Regarding FDIC Rent Limits
VLI = 50% Rent Limit
LI = 65% Rent Limit
Please distribute this email to all appropriate staff and management. If you have any questions or need additional explanation please contact us below. The FDIC manual is online and located at https://www.fdic.gov/buying/owned/affordable/ and can also be found on the OHFA website here https://www.ok.gov/ohfa/Developers/index.html