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Housing
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-Qual Worksheet along with
Form RD 3550-1 for each household member age 18 and over, should be mailed to the
office
nearest you..
Click here
for the office closest to you.
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