Friday, June 26, 2015

Kentucky USDA Rural Housing Guarantee Loans Upfront Funding Fee Changing October 1, 2015

Kentucky USDA Rural Guaranteed loans obligated on October 1, 2015, through September 30, 2016 will be subject to the following fee schedule:   

Upfront Fee Will be Increasing From 2% to 2.75% on Kentucky USDA Rural Housing Loans

Purchase and Refinance Transactions:
Upfront guarantee fee:  2.75 percent
Annual fee:  0.50 percent

A loan is obligated when USDA has approved a complete loan application package and issued Form RD 3555-18 “Conditional Commitment for Single Family Housing Loan Guarantee” to the USDA approved lender.  Loan guarantee requests submitted to USDA prior to September 30, 2015, in which a Conditional Commitment has not been issued before close of business that day, will be subject to the FY 2016 fee structure.