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HB-1-3555 12-1 (03-09-16) SPECIAL PN Revised (03-01-21) PN 548 CHAPTER 12: PROPERTY AND APPRAISAL REQUIREMENTS 12.1 INTRODUCTION Lenders must ensure the property to be purchased is eligible for the SFHGLP. The Agency’s minimum property requirements serve to protect the borrower’s interest, minimize the lender’s loss, and reduce the potential risk to the government in the event of liquidation. It is the lender’s responsibility to ensure that the property meets the Agency’s standards. SECTION 1: UNDERWRITING THE PROPERTY [7 CFR 3555.201] 12.2 OVERVIEW The lender must ensure the subject property meets the Agency’s site guidelines. In particular, sites must be located in eligible rural areas; meet community standards regarding utilities, including water and wastewater systems; meet street and road access and maintenance requirements; and contain other amenities essential to the continued marketability of the home. This section addresses each of these standards. 12.3 RURAL AREA DESIGNATION ...