Tuesday, August 26, 2014

Kentucky Rural Development New Annual Fee Structure and New Kentucky Rural Housing Area Maps for October 2014

New Kentucky RHS Annual Fee Structure USDA recently announced a new annual fee structure for Kentucky Guaranteed Rural Housing Loans beginning with Conditional Commitments issued on or after October 1, 2014. SFH Guaranteed loans In Kentucky , including purchases and refinances, with Conditional Commitment dates on or after the 1st of October will be subject to an annual fee of 0.5% of the unpaid principal balance (up from 0.4%). Please be sure to disclose accordingly. There will be no change at this time to the upfront Guarantee fee, which will remain at 2% of the loan amount.

New Kentucky USDA Rural Housing Area Maps In addition, changes to Kentucky Rural Development eligible rural areas are also set to take effect on October 1, 2014 barring further Congressional action. A preview of the "Future Eligible Areas" is available on the USDA Income and Property Eligibility Site (http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do).


Joel Lobb
Senior  Loan Officer

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346