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- All pages of the current version of Form RD 3555-21 signed and dated by the applicant(s) and the approved lender submitting the request, or their designated representative. The form must be completed prior to signature by the applicant(s). The lender is responsible for reviewing the contents of the form, acknowledgements and certifications with the applicant(s).
- A signed copy of the Uniform Residential Loan Application (URLA). The loan amount must coincide with the loan request on Form RD 3555-21. If the applicant(s) is not a United States citizen, evidence the applicant(s) meets the qualified alien criteria set forth in Chapter 8 of this Handbook
- The CAIVRS number indicated on Form RD 3555-21.
- The lender’s confirmation they have checked GAO’s System for Award Management (SAM.gov) and have confirmed the applicant(s) and all parties participating in the Rural Development guarantee are not debarred from doing business with the Federal government. Refer to Section 15.2 of this Chapter to identify all parties participating in the loan guarantee request. Certification of this action is recorded on Form RD 3555-21.
- Summary of the calculation of annual income, adjusted income (to qualify for the SFHGLP) and repayment income calculations. Include documentation for all adult members of the household.
Documentation to include IRS 4506-T tax transcripts, verifications of employment and other income verification documentation such as asset documentation. See chapter 9 of this Handbook for additional guidance.
USDA Announcement 12/21/2017: The Single Family Housing Guaranteed Loan Program will suspend the requirement of Internal Revenue Service (IRS) Form 4506-T for all adult household members until further notice. The suspension is effective December 21, 2017 and applies to all final GUS and manually underwritten loan submissions to USDA."
- Credit report(s). Include the credit report of a non-purchasing spouse if property is located in a community property state. Include any non-traditional report and all credit supplements.
- Verification of Rental. Include documentation to support rental history in the previous 12 months prior to application, as applicable, for all manually underwritten loans. See Chapter 10 of this Handbook, Section 10.13 for additional guidance on obtaining rent verification.
- Uniform Residential Appraisal Report (URAR) of real estate property which includes Form 1004MC, Market Condition Addendum.
- Purchase/sales agreement/contract.
- Underwriting analysis. This may include evidence the approved lender’s underwriter reviewed and approved the loan, documentation of a credit waiver granted by the underwriter (if applicable), or a request for repayment ratio waiver with documented compensating factors listed (if applicable). Refer to Chapter 10 and 11of this Handbook for additional guidance.
- FEMA Form 086-0-32.
- If a buydown is involved, documentation in accordance with Chapter 11, Paragraph 11.5 of this Handbook.
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