Use this job aid to assist with determining Property Eligibility and Borrower/Household Income Eligibility for USDA loans.

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Sharyl Sparks
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USDA Eligibility Version 04.24.2014 Use this job aid to assist with determining Property Eligibility and Borrower/Household Income Eligibility for USDA loans.

1 USDA Eligibility Version Use this job aid to assist with determining Property Eligibility and Borrower/Household Income Eligibility for USDA loans. Property Eligibility Step 1 Access USDA Income and Property Eligibility site 2 Click the Single Family Housing Link under Property Eligibility USDA Income & Property Eligibility Job Aid 1 of 6 April 24, 2014

2 3 Accept the Property Eligibility Waiver 4 Enter the property address and click GO a. If property is TBD eligibility cannot be completed at this time 5 Results of eligibility will display one of the following: a. Address IS located in an eligible area. b. Address is NOT located in an eligible area. c. Unable to determine. USDA Income & Property Eligibility Job Aid 2 of 6 April 24, 2014

display one of the following: a. Address IS located in an eligible area. b.

3 6 Print results for file a. Click print icon. 7 a. Notes can be entered if necessary. b. Click Print button. 8 a. Click PDF icon to open document. 9 a. Include printout in loan file submission. USDA Income & Property Eligibility Job Aid 3 of 6 April 24, 2014

Borrower/Household Income Eligibility Step 1 Access USDA Income and Property Eligibility site http://eligibility.sc.egov.usda.gov/eligibility/welcome.do?

4 Borrower/Household Income Eligibility Step 1 Access USDA Income and Property Eligibility site 2 Click the Single Family Housing Link under Income Eligibility 3 Using the drop down select the State and then County where the property is located USDA Income & Property Eligibility Job Aid 4 of 6 April 24, 2014

navkey=home@1 2 Click the Single Family Housing Link under Income Eligibility 3 Using the drop

4 Household Members Information a. Enter total number of all persons living in the household. b. Enter number of residents who are under 18 yrs old, disabled or full time students. c.

5 4 Household Members Information a. Enter total number of all persons living in the household. b. Enter number of residents who are under 18 yrs old, disabled or full time students. c. Use the dropdown to indicate if the loan applicant or co-applicant is over 62 yrs old. d. Use the dropdown to indicate if any person in the household is disabled. e. Click Next button. Note: Household Members Information determines the questions that are applicable for the Expenses and Deductions section as shown below. 5 Expenses and Deductions a. If any Applicant or Co-Applicant is Over 62 yrs Old, any household member is a Disabled Person, Under 18 yrs Old or Full Time Student additional expenses and deductions may need to be entered. USDA Income & Property Eligibility Job Aid 5 of 6 April 24, 2014

Note: Household Members Information determines the questions that are applicable for the Expenses and Deductions section as shown below. 5 Expenses and Deductions a.

6 6 Entering Income a. Income and Expenses for the entire household are used to determine Income Eligibility. b. Enter applicable expenses. c. Enter Gross Monthly Income for Applicant and all Other Household Members. d. If more than 3 income generating adults in the household use the All Other Income section to enter the gross monthly amount. e. Click Finish button. 7 Income Eligibility Determination Summary Note: Pacific Union only originates loans under the Guaranteed Rural Housing Loan program. a. Results will be either Eligible or Ineligible. b. Print the results and submit with the loan file. USDA Income & Property Eligibility Job Aid 6 of 6 April 24, 2014

If more than 3 income generating adults in the household use the All Other Income section to enter the gross monthly amount. e. Click Finish button.

Using the Broker s Credit Report for Underwriting Wholesale Version 12.23.2013

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