USDA Loan Guidelines

the 1980-D

I’ve had many requests to provide basic USDA Loan Underwriting Guidelines on our site.  The USDA Loan guidelines are not easy to find online, however you can get your own copy of the USDA Loan guidelines directly from your local Rural Development office.

If you are a Mortgage Broker or Realtor and would like to provide a link to USDA Loan Guidelines on your site, here is the link to use:

<a href=”http://usdaruralhomeloans.com/usda-guidelines/”>USDA Guidelines</a>

Following are excerpts from the USDA Loan Rural Development basic eligibility and underwriting guidelines.  They are referred to as the 1980-D.  These USDA Loan guidelines are updated often by the USDA through Rural Development Administrative Notices (ANs).  These USDA Loan guidelines are only posted here on USDARuralHomeLoans.com as a basic and helpful reference for our many visitors which include home buyers,  mortgage brokers, Realtors and various media outlets.  Also note that many lenders will have specific USDA Loan overlays that will override the USDA 1980-D.  So be sure and talk with your USDA Loan adviser if you have specific areas of concern.  If you will be using a USDA Loan and are buying or financing in Arizona we would be pleased to provide that assistance for you.

I have not included every last bit of  the USDA Loan guideline 1980-D but only the areas relevant to the purchase or refinance of a USDA Loan.

Current as of 4/20/2009.

The 1980-D

1980.301  Introduction
1980.302  Definitions and abbreviations
1980.310  Loan purposes
1980.311  Loan limitations and special provisions
1980.312  Rural area designation
1980.313  Site and building requirements
1980.314  Loans on leasehold interests
1980.315  Escrow accounts for exterior development
1980.316  Environmental requirements
1980.317  Equal opportunity and nondiscrimination
1980.318  Flood and mudslide hazard area precautions
1980.319  Other Federal, State, and local requirements
1980.320  Interest rate
1980.321  Terms of loan repayment
1980.322  Loan guarantee limits
1980.323  Guarantee fee
1980.324  Charges and fees by Lender
1980.325  Transactions which will not be guaranteed
1980.330  Applicant equity requirements
1980.331  Collateral
1980.345  Applicant eligibility requirements for a guaranteed loan
1980.346  Other eligibility criteria
1980.347  Annual income
1980.348  Adjusted annual income

In addition the 1980-D covers USDA Loan borrower default as interest rate assistance and equity sharing.  We may include that information in a future update; however it is available directly from your local USDA office.