Is there a limit on the cash assets a nonelderly applicant can have and still get a 502 Direct loan? I am working with an applicant who is very low-income but they also have $42,000 in non-retirement cash assets.
Browsing Category Archives
Based on “Dear Sher”.
Dear Sher
I know the U.S. Department of Agriculture – Rural Development office I work with has a long processing waitlist for 502 Direct applications and I’m concerned my packaged loans will stale before loan officers can even get to them. How do I turn in a packaged loan and ensure the documents are still good?
Dear Sher
I have a Section 502 loan application that I’m packaging where the applicant has only been at their current job for about three months but they have been in the same field of work for several years, is this considered stable and dependable?
Dear Sher
What is the new Statement of Compliance Requirement in Tab 23 of the 523 Grant Application Checklist?
Dear Sher
I have several files that I’m trying to submit to USDA RD for determination so that we can turn in . . .