23-40: USDA Rural Housing Reminder on Required Income Calculations from Assets


Pennymac would like to remind our correspondents of the USDA Guaranteed Rural Housing Loan Program annual income eligibility requirements, specifically as it pertains to asset review requirements.

Household members with cumulative net non-retirement assets of $50,000 or greater must have those assets reviewed for annual income eligibility purposes.

  • Annual income includes income sources from all adult household members, not just the borrowers on the loan.
  • The annual income for the household is used to calculate the adjusted annual household income.
  • The adjusted annual income determines if the household is eligible for a guaranteed loan.

Please refer to the Rural Housing and Rural Streamlined-Assist Product Profiles, as well as, the SFH Guaranteed Loan Program Technical Handbook for detailed income eligibility and documentation requirements.

Please contact your Sales Representative with any questions.