Important USDA Update! USDA is changing the way that they will allow MCC [Mortgage Credit Certificates] to be used in qualifying a borrower. Previously lenders could deduct the monthly benefit from the house payment and then qualify the borrower for the remainder. Now, they are requiring the lender to add the monthly benefit as income. This will make a big difference in qualifying! PM me with any questions.
Related Article Title: USDA Releases Advance Copy of Proposed Changes for Chapter 9 Written by: David Hail, Staff Writer USDA is cranking out a massive amount of Chapter updates with extensive changes and clarifications. Anyone working with USDA needs to keep up with these guideline updates and clarifications that our USDA expert outlines for you […]