ANNOUNCEMENTS
Would you like to close more loans in 2025?
Take advantage of our training opportunities!
Register to attend our live, virtual training events! We have an excellent training schedule set for 2025 and you have 24/7 access to training modules on our LINC Training and Resource Library Page, under the Lender Training Tab. We encourage you to check it out!
Contact us to schedule a training session for your team! In addition to our recorded and live trainings, the Lender and Partner Activities (LPA) Branch is here to support our Lending Partners. We can schedule lender trainings that are designed to meet your specific team needs. Please contact the LPA Branch via email at: sfhgld.lenderpartner@usda.gov, we are here to support your team!
Stay current and ask questions!
Here are some recent FAQs answered by our policy experts.
Q: An applicant recently filed for divorce. Does the divorce need to be finalized before closing to exclude the spouse's income from the annual income calculation?
A: The income of the spouse must be included unless evidence to support they have been living apart for 3 months is obtained or court proceedings for divorce or legal separation have commenced.
Refer to HB-1-3555, Ch. 9.
Q: If gift funds are not being used by the borrower to pay the down payment or closing costs, does the gift need to be input into GUS?
A: The lender is not required to input assets into GUS. You will need to keep the documentation in your permanent loan file. Refer to HB-1-3555, Ch. 9.
Q: What are the guidelines and what forms are required for new construction end loans?
A: New homes must be designed and constructed in accordance with certified plans and specifications. Evidence of the following must be retained in the lender’s permanent loan file: Certified plans & specifications; Required construction inspections; and Thermal standards are met. Refer to HB-1-3555, Ch. 12, 12.9.
View more great FAQs on the USDA LINC Training & Resource Library here.
|
