In the April 19, 2022 issue of The Guaranteed Connection, the U.S. Department of Agriculture's (USDA) Rural Development provided several Hot Time Savings Tips for Successful Loan Submissions, including:
- Annual and repayment income calculations are still required to be submitted even though the income calculation worksheet was removed from Form RD 3555-21.
- Provide documentation for all applicable household members per 7 CFR Part 3555.152(d).
- Provide explanations for inconsistent real estate taxes listed in Guaranteed Underwriting System (GUS) and on appraisal.
- Be sure to identify the “Construction Type” correctly when doing the data entry in GUS on the “Loan and Property Information” screen.
Additional resources from USDA can be located on the Loan Origination tab at the USDA Linc Training and Resource Library page.
CLICK ON LINK BELOW FOR MORTGAGE TIPS ON HOW TO CLOSE A USDA MORTGAGE LOAN IN KENTUCKY