source:
  type: guide
  id: usda-hb-3555-1.5
  authority: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶1.5 —
    Sfhglp Summary
  description: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶1.5
    — Sfhglp Summary.
  coverage_tier: operative
obligations:
- id: usda-hb-3555-1.5-full
  canonical_id: usda-hb-3555-1.5-full
  section: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶1.5 — Sfhglp
    Summary
  type: do
  tags:
  - regulator-direct
  - usda
  - usda-handbook
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶1.5
      — Sfhglp Summary
    source_class: usda-handbook
    source_url: https://www.rd.usda.gov/sites/default/files/hb-1-3555_consolidated.pdf
    snapshot_id: 0466acd1ea2d17a4
    fetched_at: '2026-05-25T14:10:13Z'
    content_hash: sha256:22ac6f998ff72578e318fca138ebe80fb18ae2fc701eb5936172f1842679a13a
    paragraph_quote: '1.5 SFHGLP SUMMARY Private lenders are key to the success of
      the SFHGLP. Although the Agency issues loan guarantees, lenders that have been
      approved to participate in the program are responsible for originating, underwriting,
      servicing, and liquidating loans. The lender is ultimately responsible for ensuring
      that all program requirements are met, and that the underwriting procedures
      for the loan are followed. The Agency reviews each loan proposal to ensure the
      applicant and property appear to meet program eligibility requirements and monitors
      lender performance on an ongoing basis to help ensure that lenders accurately
      understand the Agency’s expectations. Applicant eligibility is discussed in
      detail in chapters 8 through 11. In summary, applicants may be eligible to receive
      a guaranteed loan if they: x Are income-eligible; x Agree to personally occupy
      the dwelling as their primary residence; x Have acceptable citizenship or immigration
      status, as defined in Chapter 8; x Have the legal capacity to incur the loan
      obligation; x Have not been suspended or debarred from participation in Federal
      programs; x Have demonstrated both the willingness and the ability to repay
      the loan; and x Are purchasing a property that meets all program criteria. In
      the event that a lender incurs a loss on a guaranteed loan, the Agency will
      compensate the lender under the terms of the Loan Note Guarantee and all program
      requirements. SECTION 3: GENERAL PROGRAM REQUIREMENTS'
  judgment: false
