Category: USDA

USDA Identity of Interest

Question: Does USDA have guidelines on Identity of Interest? Answer: USDA has no specific regulations with regard to identity of interest. It’s a zero-down loan and since the seller can contribute up to 6% of closing costs, identity of interest is not an issue as in the case of an FHA loan. [Article Published in […]

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Medical Collections? Did you know that most home financing programs do not count against you or even require you to pay off a medical collection in order to get home financing?  If medical collections have stopped you from considering a home purchase, let’s discuss it! 

Medical Collections? Did you know that most home financing programs do not count against you or even require you to pay off a medical collection in order to get home financing?  If medical collections have stopped you from considering a home purchase, let’s discuss it! 

Related Article Title: USDA – Major Revisions to Chapter 10 – Credit Analysis Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: On December 19, 2019 USDA Rural Development announced upcoming […]

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What is Payment Shock? When you purchase a home, some of the available financing programs will look at what you presently pay in rent and compare it to your new house payment to determine the “payment shock” to your budget.  That’s why it’s always important to talk to your lender before you start shopping for a home, so let’s chat!

Related Article Title: USDA – Major Revisions to Chapter 10 – Credit Analysis Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: On December 19, 2019 USDA Rural Development announced upcoming […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

USDA – Major Revisions to Chapter 10 – Credit Analysis

Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: On December 19, 2019 USDA Rural Development announced upcoming revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis. They provided an advance […]

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USDA – Major Revisions to Chapter 11 – Ratio Analysis

Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 11, Ratio Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: USDA Rural Development announced on January 29, 2020 that they will soon publish a revision to technical handbook HB-1-3555 Chapter 11, Ratio […]

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