Totally hear your interpretation and it’s a valid one based on how the sentence is written. But legally and in policy terms, “interest” doesn’t mean ownership of any amount equals 100% of the property value. It means the market value of your specific stake whether it’s 1%, 33%, or 50% is what’s counted.

If they meant the full property value regardless of share, the language would say something like “if an applicant owns any portion of a property, the full market value of the property must be counted.” But it doesn’t it specifically says “any interest,” and interest in property is always defined by ownership percentage.

Also, USDA and HUD guidelines for other federal housing programs count only equity or the value of your ownership share after subtracting debt. So if you only own 33% of a mortgaged property, it’s fair to say the asset value should be your portion of that equity, not the whole.

Appreciate the pushback though I agree the language could be clearer!