Rural housing lenders can now use modern credit checks for loan applications

The US Department of Agriculture has updated its rules for how rural housing programs check credit. This means lenders can now use automated credit reporting services, making the process faster and more consistent.

For years, rural housing programs relied on outdated methods for checking credit, often requiring manual reviews or specific types of reports. This change allows them to use the same modern, automated credit checks that most other lenders use. This should speed up loan approvals and make it easier for more people to qualify for rural housing assistance.