Housing

Pre-Qualify for a Single Family Housing Direct Loan

A Pre-Qualification review provides an opportunity to consider whether an applicant meets basic eligibility requirements for the 502 Direct program. This package is NOT an application for assistance and is voluntary prior to submitting an application.

If you prefer, a hard copy of the package can be mailed to you by contacting the Rural Development Office serving the county where you'd like to purchase a home. A loan application can also be obtained from the Area Office.

A pre-qualification review involves using unverified information to evaluate the likelihood that a potential applicant would be program eligible. The results of this no cost review are not official and submission of a pre-qualification worksheet does not represent a formal application for assistance.

The only purpose which we will utilize the Authorization to Release Information at this time is to order an infile credit report. Please be advised that an infile credit report is a hard pull and your credit score may be affected by our inquiry. Credit scores of 640 or greater are typically considered as acceptable credit without additional documentation. Credit scores below 640 may require additional credit analysis.

Exhibit 4-4, Indicators of Unacceptable Credit

The Pre-Qualification Worksheet, along with Form RD 3550-1 for each household member age 18 and over, should be mailed to the office nearest you.