9.4 CALCULATING INCOME FROM ASSETS [7 CFR 3555.152(d)] (10/16/18)

Owned by Marsha Freeman
Last updated: Nov 18, 2018 by Kacey Olson
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© RHS HB-1-3555 SFH Guaranteed Loan Program Technical Handbook


Household members with cumulative net family assets of $50,000 or greater, must have those assets reviewed for annual income purposes as indicated in 3555.152(d). Lenders must review asset information provided by applicant(s) and household members at the time of loan application. Net family assets with actual earnings will use the stated rate of interest to calculate annual income. Net family assets that do not earn interest will use a current passbook savings rate (verified through the lender’s personal banking rates, online website, etc.) to calculate annual income.

Refer to the Asset section in Attachment 9-A for individual asset types and options for documentation/verification.