USDA Rural Home Loans for Arizona

USDA Loan Guidelines – Adjusted annual income
1980.348  Adjusted annual income
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Adjusted annual income is annual income as determined in §1980.347 of this subpart less the following:
(a)  A deduction of $480 for each member of the family residing in the household, other than the applicant, spouse, or [...]

USDA Loan Guidelines – Annual income
1980.347  Annual income
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Annual income determinations will be thoroughly documented in the Lender’s casefile.  Historical data based on the past 12 months or previous fiscal year may be used if a determination cannot logically be made.  Annual income to be considered [...]

USDA Loan Guidelines – Other eligibility criteria
1980.346  Other eligibility criteria
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The applicant must:
(a)  Be a person who does not own a dwelling in the local commuting area or owns a dwelling which is not structurally sound, functionally adequate.
(b)  Be without sufficient resources to provide the necessary [...]

USDA Loan Guidelines – Applicant eligibility requirements
1980.345  Applicant eligibility requirements for a guaranteed loan
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Applicants who meet the requirements of this section are eligible for a loan guaranteed under this subpart.  Applicants desiring loan assistance as provided in this subpart must file loan applications with a [...]

USDA Loan Guidelines – Collateral
1980.331  Collateral
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(a)  General.  The entire loan must be secured by a first lien on the property being financed (second lien when the loan is for a subsequent loan to an existing borrower or there is a transfer and assumption of an [...]

USDA Loan Guidelines – Applicant equity requirements
1980.330  Applicant equity requirements
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A loan to purchase a new or existing dwelling may be made up to the appraised market value of the security.
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USDA Loan Guidelines – Transactions which will not be guaranteed
1980.325  Transactions which will not be guaranteed
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(a)  Lease payments.  Payments made on a lease will not be guaranteed.
(b)  Loans made by other Federal agencies.  Loans made by other Federal agencies will not be guaranteed.  This does [...]

USDA Loan Guidelines – Charges and fees by Lender
1980.324  Charges and fees by Lender
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(a)  Routine charges and fees.  The Lender may establish the charges and fees for the loan, provided they are the same as those charged other applicants for similar types of transactions.
(b)  Late [...]

USDA Loan Guidelines – Guarantee fee
1980.323  Guarantee fee
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The Lender will pay a nonrefundable fee which may be passed on to the borrower.  The amount of the fee is determined by multiplying the figure in exhibit K of subpart A of part 1810 of this chapter [...]

USDA Loan Guidelines – Loan guarantee limits
1980.322  Loan guarantee limits
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The amount of the loan guarantee is 90 percent of the principal amount of the loan.
(a)  The maximum loss payment under the guarantee of Single Family Housing loans is the lesser of:
(1)  Any loss of an [...]