USDA Rural Housing Loans

This course is for those mortgage professionals new to the USDA/RHS Program or those with some familiarity to the USDA/RHS programs that are looking for a refresher. And, for those who are already originating, processing and underwriting other loan programs like, Conventional, FHA and/or VA. Participants will be provided with a high level introduction to the unique features and benefits of this loan program with emphasis on the actions taken and processes completed to move the loan through Origination, Processing and Underwriting. This course will NOT INCLUDE SERVICING.

This course is for those mortgage professionals new to the USDA/RHS Program or those with some familiarity to the USDA/RHS programs that are looking for a refresher. And, for those who are already originating, processing and underwriting other loan programs like, Conventional, FHA and/or VA.

Participants will be provided with a high level introduction to the unique features and benefits of this loan program with emphasis on the actions taken and processes completed to move the loan through Origination, Processing and Underwriting. This course will NOT INCLUDE SERVICING.

During the course there will be discussion on the unique requirements of a Rural Housing loan such as, borrower and property eligibility, mortgage limits and guarantee amounts. Attendees will participate in discussions and activities with their facilitators and peers to reinforce what they have learned.

What will I learn?

Upon completion of the course, students will be able to:

  • Define a USDA/RHS loan and its basic requirement
  • Explain the difference in the application process from other loan programs like Conventional, FHA or VA
  • Explain the unique processing requirements
  • Describe Underwriting Requirements specific to this loan program

Benefits

By the end of this course, participants will be able to:

  • Define a USDA/RHS loan and its basic requirement
  • Explain the difference in the application process from other loan programs like Conventional, FHA or VA
  • Explain the unique processing requirements
  • Describe Underwriting Requirements specific to this loan program

Agenda

Session One

  • Introduction to USDA/RHS
    • General Eligibility
    • Compare USDA/RHS Loans to Other Financing Types Available in the Marketplace

Session Two

  • Originating USDA Loans
    • Determining Property Eligibility
    • Credit Worthiness
    • Credit Waivers

Session Three

  • Processing USDA Loans
    • Income Determination – Direct and Guaranteed
    • Asset Eligibility
    • Ratio Waivers
    • Refinances

Session Four

  • Underwriting USDA Loans
    • Property Eligibility
    • Borrower Eligibility
    • Refinance Requirements
    • Insurance and Escrow Requirements

2019 Schedule

Dates
June 5, 12, 19, 26
Price:
$600
Type:
Online
Location:
Virtual Class Online
Time: 9:00 AM - 10:30 AM PST