Can anyone confirm if the USDA Single Family Housing Guaranteed Loan Program is considered a Special Purpose Credit Program?
In determining eligibility for the product, the lender must certify 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.
In requiring income information from potentially non-applicants/individuals not obligated on the loan, and with that information potentially being alimony, child support, and any separate maintenance income, I feel that it would have to be, but am struggling to confirm that.
Anyone have any experience with the product?