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Annual.pdf

rd-sfh-module4a-annualincome.pdf
Preview of Annual
🔗 Source: rd.usda.gov
📊 Size: 1.55 MB
👤 Author: Sonya.Evans
⬇️ Downloads: 224

Summary

The Single Family Housing Direct 502 and 504 programs consider three types of income: Annual, Adjusted, and Repayment. Annual income must be calculated first and is the basis for other income calculations. Worksheets for computing income are available for both programs, including the Attachment 4-A Worksheet for Computing Income and the 504 Automated Worksheet. The worksheets are updated periodically, and the most recent version should be used. The Loan Originator or packager completes the worksheet, and it must be included in the applicant's electronic case file. Annual income includes the income of all household members from all sources, unless excluded by the program, and household members are defined as those expected to reside in the home, including those temporarily absent. Live-in aids and foster persons are not considered household members, and payments for their care are excluded from income. The applicant must identify all household members and sources of income and provide verification as outlined in the application checklist.

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Description

The Single Family Housing Direct 502 and 504 programs consider three types of income: Annual, Adjusted, and Repayment.

Technical Information

  • File Format: PDF
  • File Size: 1.55 MB
  • Pages: 30
  • Language: EN
  • Author: Sonya.Evans
  • Total Downloads: 224
  • Last Updated: 1 week ago

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