© 2018 RHS HB-1-3555 SFH Guaranteed Loan Program Technical Handbook
Annual income is used as the basis for computing adjusted annual income and is based on anticipated income for the coming year. Income from all adult household members, not just parties to the note, must be considered when computing annual income. This income calculation is utilized to determine the eligibility of the household for the SFHGLP. This paragraph provides additional information to help the lender calculate annual income properly.
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IRS transcripts and further supportive documentation regarding discrepancies must be submitted to the Agency as part of a complete loan file for all manually underwritten loans and GUS loans that receive a “Refer” or “Refer with Caution” underwriting recommendation as further outlined in Chapter 15 of this Handbook. GUS loans that receive an “Accept” underwriting recommendation may retain the transcripts in the lender’s permanent loan case file. Additional Resource: https://www.rd.usda.gov/files/hb-1-3555.pdf#page=126