What is the dollar amount deducted from annual income for each dependent or minor?

The correct answer is $480, which is the dollar amount deducted from annual income for each dependent or minor when calculating eligibility for USDA Rural Housing Loans. This deduction is aimed at ensuring that families with dependents are not unfairly penalized in their ability to qualify for loans. By allowing this reduction in annual income, USDA aims to provide a more equitable assessment of a household's financial situation, acknowledging that additional costs arise with the care and support of dependents. This helps families with children or dependents demonstrate a manageable financial scenario, potentially opening the door to homeownership under the USDA loan provisions.

Understanding this figure is essential for applicants and those involved in the loan process, as it directly impacts income calculations and influences loan eligibility. The other amounts do not reflect the established deduction for dependents as outlined in USDA guidelines.