A compliance manager is training staff on USDA loan-program requirements using a state-law refresher. Which statement is accurate?
Correct Answer
A) Confirm rural eligibility, income limits, and primary-residence use
USDA Section 502 guaranteed loans require eligible rural property, income eligibility, primary residence use, and lender approval. The best answer is "Confirm rural eligibility, income limits, and primary-residence use".
Why This Is the Correct Answer
USDA Section 502 guaranteed loans require eligible rural property, income eligibility, primary residence use, and lender approval. The best answer is "Confirm rural eligibility, income limits, and primary-residence use".
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