USDA Rural Housing Loan Practice Test

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Question: 1 / 20

What is the correct form that must be signed by the borrower on the application?

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The borrower must sign Page 2 of the application form because this page typically contains important disclosures and certifications that are essential for the loan process. It ensures that the borrower understands the terms and conditions of the loan, and it grants the lender permission to obtain various forms of information regarding the borrower’s financial situation. This signature not only acts as an affirmation of the information provided but also signifies the borrower’s intent to proceed with the application process under the presented conditions. Proper documentation and client authorization are critical in the USDA Rural Housing Loan program, ensuring compliance with regulatory requirements.

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