Classes for USDA Rural Development Training
Online
VA Underwriting Online is the most flexible way to complete your VA Training and get updated on the most recent updates and changes in the industry. This option is available 24/7, you can complete it at your own pace, and you will receive your certificate immediately upon completion of the course.
Webinar
VA Underwriting Webinars are available quarterly, and provide an easy way to underwriters to learn about the most recent industry updates from a live instructor with over 35 years of underwriting experience.
Private Webinar & Private On-Site
Looking for a Private VA Training by an industry expert? Contact us below and learn more about private VA training options for your company!
Diehl's Training on your LMS
Deploy Diehl’s VA Training on your Learning Management System. Diehl provides the online course modules and all of the course materials. Throughout the year, Diehl provides updated modules that can quickly be uploaded to ensure that your training is always current and up-to-date.
What is VA?
VA mortgages were created by the GI Bill in 1944 and have grown to $165B in Q2 2020. The opportunity for a Veteran and a lender are huge. What’s needed? An in depth knowledge of VA guidelines.
How the class will help YOU.
If you understand underwriting, this course will teach you what you need to know about VA underwriting. The course is kept up to date constantly and includes all handouts, VA forms and unlimited Q and A.
USDA Rural Development Training
Each year, the United States Department of Agriculture helps thousands of homebuyers purchase homes in rural and suburban areas across the country. With that said, only certain homebuyers will qualify for this loan and must meet certain eligibility requirements.
If you’re in the mortgage industry and you want to expand your business, USDA training is a great way to do so. USDA offers zero downpayment programs, even allowing the borrower to roll in the mortgage insurance. Diehl Education offers a course to help you learn the steps of the USDA loan underwriting process.
Ready to dive into USDA training and learn more information about the USDA loan programs? Keep reading to get a comprehensive explanation of all that and more. Or, use the navigation links below to skip to a section relevant to your query.
What is the USDA Rural Development Process?
USDA Rural Development is designed to improve the economy and quality of life in rural areas across the country. This program actually covers a wide array of different benefits from telecommunications improvements in rural areas that struggle with access to technology like fast internet, disaster assistance, energy programs, community programs, housing programs, business programs, and electric programs.
Specific to the mortgage industry, the USDA program offers both Single-Family Housing Programs as well as Multi-Family Housing Programs. These housing programs allow families and single individuals the ability to purchase, rebuild, repair, construct, or own a safe home located in a designated rural or suburban zone.
To be eligible for a home loan depends on the homebuyer or homeowner’s income and varies based on the average median income for the area in question.
How Does the USDA Rural Development Program Work?
USDA loans are low-interest home loans with highly attractive terms like no downpayment. These mortgages are specifically designed for low-wage earners who don’t have the credit necessary to qualify for conventional home loans. In order to qualify for a USDA loan, the property must be in a specific area that covers both suburban and rural regions across the country.
The United States Depart of Agriculture (USDA) program helps homebuyers obtain home loans for a low interest rate. In some cases, homebuyers can even qualify for one of these loans with a low credit score. With that said, there is no specific credit score that will or won’t be accepted — a mortgage underwriter will evaluate the loan application as a whole to evaluate a borrower’s risk, not just the credit score alone.
To qualify for these loans, a homeowner or prospective homebuyer’s household income must not be above the household income limit that is set by the USDA in the area you’d like to purchase a home. Eligibility for these types of home loans mostly depends on the prospective homebuyer’s income, residence location, and household size.
With that said, prospective homebuyers can obtain a USDA back mortgage with no money down. As a result, they will usually need to pay a fee known as a mortgage insurance premium, which can be rolled into the loan..
How Long Does it Take to Become a Rural Housing Specialist?
To fully understand USDA, you’ll need to understand and apply the guidelines to your borrower candidates and undergo special training that supports this. Diehl’s training is designed to equip students to comply with the requirements for the USDA Guartanteed Rural Development Single-Family Housing Program. The training covers topics like regulations, guidance, and qualifying applicants. The coursework takes approximately 5 hours. At Diehl, you have the option to schedule a private training either live or via webinar, enroll in a public webinar, enroll in an online class or purchase the course and run it on your own internal learning management system. In that case, Diehl provides updates throughout the year so that the course is always up-to-date and your staff is always training on the current guidelines.
What Can I Expect from Rural Development Training Classes?
Topics covered by the rural development training program include the following:
- Benefits of USDA
- Loan Note Guaranty
- Loan Purposes (and Prohibited)
- Occupancy
- Guarantee Fees
- GUS
- Repayment Income and Ability
- Debt Ratio Waiver
- Compensating Factors
- Manual Underwrites
- Downgrading and “Accept”
- Debts, Collections, Judgements, Disputed Accounts
- Credit Concerns
- Funds, Gifts, Cash On Hand
- Depository Accounts
- Credit Reports and Exemptions
- Appraisal
- Repair and Escrows
- Guarantee Loan Process
At the end of the course, participants will be able to define a USDA/RHS loan along with its essential requirements. Students will also be able to distinguish the application process from other loan products and programs such as conventional mortgages, FHA loans, and VA loans. You’ll walk away from the course being able to describe the unique underwriting requirements specific to the USDA loan program.
Diehl Education: USDA Rural Development Training
If you need a refresher on USDA training or would like an update on new guidelines, Diehl is here to help. Our course instructors are vetted professionals with years of experience in mortgage underwriting. All of our classes are designed to be exciting and engaging, so you can look forward to taking that next step in your career. Check out Diehl’s class offerings today to make your career dreams a reality.
The Diehl Education Difference
Whether you want to become an MLO or complete your continuing education class, Diehl Education can help. Diehl offers convenient, comprehensive help with NMLS exam prep, specialized loan underwriting coursework, state-specific information, and other resources to help you succeed in the mortgage industry.
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For every single class offered across the site, Diehl relies on industry experts to teach the coursework. These professional trainers have all held jobs, been in senior management roles, and served as leaders in the mortgage and housing industry, so you can have total peace-of-mind that you’re learning from the best. Diehl is also an active member of the National Mortgage Bankers Association (MBA) and keeps close tabs on industry trends and future updates.
Ready to make a change in your mortgage career or refresh your knowledge? Check out Diehl’s offerings today to get started.
Online
VA Underwriting Online is the most flexible way to complete your VA Training and get updated on the most recent updates and changes in the industry. This option is available 24/7, you can complete it at your own pace, and you will receive your certificate immediately upon completion of the course.
Webinar
VA DE Underwriting Webinars are available quarterly, and provide an easy way to underwriters to learn about the most recent industry updates from a live instructor with over 35 years of underwriting experience.
Private Webinar & Private On-Site
Looking for a Private VA Training by an industry expert? Contact us below and learn more about private VA training options for your company!
Diehl's Training on your LMS
Deploy Diehl’s VA Training on your Learning Management System. Diehl provides the online course modules and all of the course materials. Throughout the year, Diehl provides updated modules that can quickly be uploaded to ensure that your training is always current and up-to-date.