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Payment Shock

Whenever payment shock is 100 percent higher, or the applicant did not have housing expenses prior to purchasing a home, no additional risk layering (i.e. adverse credit waiver, debt ratio waivers, or buydowns) should  be allowed without STRONG compensating factors.  Strong compensating factors may include, but are not limited to, high credit scores, (660 or above), good job stability, job potential, retirement savings, or other similar factors.

Please send any comments or suggestions to:   craig.scroggs@ga.usda.gov

Last Updated : February 06, 2003