502 Direct Loan Packaging
502 Direct Loan Packaging Program
Low- and very low-income rural residents need opportunities for home ownership, but traditional mortgage financing is too often out of reach. The U.S. Department of Agriculture Rural Development (USDA RD) Single Family Direct Loan Program (502 direct loans) is an affordable alternative that provides subsidized mortgage loans for modest homes in rural areas. The applicants are generally first-time homebuyers.
LIFT CAA is an intermediary and quality assurance reviewer of packaged loan application for USDA RD’s Section 502 Single Family Housing Direct Loan Program.
LIFT CAA provides training to qualified employers and certified packagers to ensure they are qualified to process loan applications. LIFT CAA also reviews completed loan applications for accuracy and completeness before sending them to USDA RD for approval.
|LIFT Community Action Agency, Inc. is a participating intermediary in the USDA 502 Packaging Program. This page is a portal for resources intended for certified packagers, potential packagers and qualified employers participating in the program. Please follow the links to learn how to get started, access training and support documents, or to get updates on the 502 Packaging Program.
|Start Here to Become a Packager
Training & Support Documents
- Initial 502 Direct Loan Application Documents
- Loan Application Package Stacking Order for Submission to LIFT CAA
- Application Submittal Cover Letter
- Attachment 3-J-Checklist of Items to Accompany the URLA
- RD 410-4 uniform Residential Loan Application (URLA)
- RD 3550-1-Authorization to Release Information
- Request for Verification of Employment RD1910-5
- Verification of Unemployment Benefits (if applicable)
- Verification of Business Expenses (if applicable)
- Verification of Pensions and Annuities (if applicable)
- Verification of Social Security Benefits (if applicable)
- Verification of Public Assistance (if applicable)
- Record of Oral Verification (if applicable)
- RD 3550-4 Employment and Asset Certification
- Attachment 4 A USDA Income Calculator 08 2023
- Verification of Child/Dependent Care (if applicable)
- Verification of Medical Expenses (if applicable)
- Credit History Worksheet RD1944-61
- Credit History Worksheet RD Form 1944-61 Non Fillable
- RD 1944-60 Landlord Verification
- Applicant Signed Disclosure Letter-As Described in Attachment 3A
LIFT CAA USDA 502 Packaging Program Notice and Publications
|SIGN UP FOR SFH EMAILS
|NOTICES AND UPDATES FROM RURAL DEVELOPMENT
|PROPERTY AND INCOME ELIGIBILITY FOR USDA 502 LOANS