HUD Issues Passbook Savings Rate Effective Feb. 1

HUD Issues Passbook Savings Rate Effective Feb. 1



HUD recently issued notice 2016-01 announcing the passbook savings rate used to determine annual income from net family assets. It will become effective Feb. 1, 2016. In addition to HUD programs, the imputed interest rate is also used to calculate annual income at LIHTC sites when a family has net assets in excess of $5,000.

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