Transcription of CHAPTER 9: INCOME ANALYSIS
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CHAPTER 9: INCOME ANALYSIS
HB-1-3555 CHAPTER 9: INCOME ANALYSIS 7 CFR INTRODUCTION The lender is responsible to ensure applicants and households meet eligibility criteria for the SFHGLP. Lenders must determine annual, adjusted, and repayment INCOME calculations. The guidance provided applies to both manually underwritten loans and loans that utilize the Guaranteed Underwriting System (GUS). SECTION 1: ELIGIBILITY INCOME OVERVIEW The SFHGLP is intended to assist very-low, low, and moderate- INCOME households. Therefore, the lender must ensure that any household that requests a loan guarantee does not exceed the adjusted annual INCOME threshold for the applicable state and county where the dwelling is located.
properly complete the income worksheet. A public website is available to assist in the ... and household composition. Lenders must examine all evidence to ensure the calculation is supported. In addition to 3555.152(b) and Attachment 9-A, lenders must consider the following ... Sharp increases or declines are defined as a 20 percent or greater
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