USDA Guaranteed Rural Housing (GRH) Loans . We’re NOT the meat inspectors, but they are a sister agency in USDA (pages 3 – 4). Who is USDA?. We are Rural Development! . GRH – The Essentials. Properties MUST be located in a rural area Maximum Total Household Income limits apply
# 1Location is everything!
Please check property address at:
Dwellings MUST be in a rural area.
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.doClick here for property eligibility
Just browsing in a county? Click on “South Carolina & then click on the county
Aiken Anderson Beaufort Berkeley Charleston
Darlington Dorchester Florence Georgetown Greenville
Greenwood Horry Lexington Orangeburg Pickens
Richland Spartanburg Sumter York
If the property is located in one of these counties, please check the mapping website for location eligibility.
This can be completed on the website:
OR, use the worksheet in the program guide.
TOTAL household income MUST be below maximum limit for program eligibility!
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.doClick here for income eligibility
Dependents: $480 each
Verified day care expense
Elderly family: $400
Medical expenses not to exceed 3% of gross income
(pages 11 - 12)
Qualifying/Repayment income is the income of the person(s) signing the Promissory Note.
**Eligible Income and Qualifying/Repayment income MAY be different figures.
(pages 14 – 15)
(pages 16 – 18)
Existing dwellings must meet the HUD handbooks 4150.2 and 4905.1 as well as USDA requirements.
We recommend using a FHA roster appraiser to satisfy the inspection requirements. If not, a home inspection must be completed.
Water test is required if property is served by an individual well.
Septic inspection needed if appraiser notes any problem.
Repairs may be rolled into the loan, escrowed, and completed after loaning.**
Properties with in-ground pools are not acceptable.
( pages 19 – 25)
(pages 19 – 25)
.5% for USDA refinances
Fannie 90 day delivery plus 60 basis points, rounded up to the
nearest one-quarter of a point.
ORAdvertised VA rate with no discount points
(pages 26 – 28)
(pages 26 – 28)
Include a written Request for Ratio Waivers providing compensating factors
(pages 26 – 28)
SAVE: Systematic Alien Verification for Entitlements
Original signatures are NO longer necessary, faxes or photocopies are accepted.
(pages 29 – 34)
USE 1980-21 REVISION 6/06
By signing here you are acknowledging that you did underwrite the file.
The borrower(s) will each sign here.
FAX OR PHOTOCOPIES OF SIGNATURES ARE NOW ACCEPTED!
(pages 36 – 37)
Rural area and income eligibility:
ANs, Regulations, & Forms www.rurdev.usda.gov/regs
Investment Properties www.resales.usda.gov
USDARural Development www.sc.egov.usda.gov
(pages 39 – 47)
(GRH processing for the upstate)
Sue T. Wren (803) 649-4221, ext. 126
(GRH processing for Aiken and Midlands)
Loretta G. Friday (803) 905-7650, ext. 116
(GRH processing for the Pee Dee)
Eva L. Franklin (803) 765-5884
(GRH processing for the Low country)
USDA is an equal opportunity provider, employer, and lender. To file a complaint of discrimination write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, D.C., 20250-9410 or call (800) 795-3272 (voice) or (202) 720-6382 (TDD).
Appendix II contains a list of the Nationally approved lenders, state approved lenders, and information on becoming an approved lender.
(pages 49 – 62)