USDA Updates

USDA recently announced changes for the Single Family Housing Guaranteed Loan Program. Notable changes include:

Reserves: Current balance of most recent month statement is now accepted.

Current Housing Payment: VOR is required for current housing payment if entered into GUS, regardless of GUS decision.

Child Support: Delinquent Child Support requires documentation that an administrative offset is not in place and a satisfactory repayment plan with 3 timely payments is in place. (administrative offset is the withholding of a tax refund by child support enforcement)