Form RD 3550-4-2025

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Loan Package means the documentation necessary for REMN to determine a borrowers eligibility for a mortgage loan, including but not limited to the loan application, credit data, appraisals, verifications of income, liabilities, net worth, real estate information and such additional items as REMN may from time to time
Loan packing means we, the lender, are creating and assembling your file. We will be working with you to finalize your loans details (like product type, down payment, interest rate, etc.). We will also be gathering paperwork from you to reconfirm youre pre-approval.
The USDA doesnt have any specific requirements regarding who can live in the home. However, USDA loans are intended to help homebuyers finance their primary residence and not an income-producing property. Are you looking to purchase or refinance a home?
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People also ask

Repayment income calculations often differ from the calculation of annual and adjusted annual income. Repayment income is the stable and dependable income of the applicants who will be parties to the note. Co-signers and non-occupant co-borrowers are not permitted for a guaranteed loan transaction.
The packager spends time with the prospective applicant to review their credit, eligibility for the program, and assists with assembling a complete application. Once the application is assembled, the certified packager makes a recommendation and submits the file to an approved intermediary.
The Peoples Self-Help Housing Homeownership Department is able to process and package a USDA 502 Direct loan for a flat fee of $2,000 offering you a considerable savings.
Certified loan application packagers provide an optional service to help prospective rural homebuyers understand and complete the application process. While packagers do not work for or represent USDA, they can advise whether the SFH Direct Loan program is a good fit and help prepare the application.

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