2020 USDA Rural Housing Guarantee Fee and Annual MI for Kentucky USDA Rural Housing Development Loans

Kentucky USDA Guarantee Fee and Annual MI

020 USDA Rural Housing Guarantee Fee and Annual MI for Kentucky USDA Rural Housing Development Loans


All USDA loans current charge 1.0% for the Guarantee Fee on ALL loans regardless of purchase or refinance. The Annual MI or Monthly Factor is .35 basis points


For example on a $100,000 Kentucky USDA Property with no money down financing the following USDA Guarantee fees and annual mi would be as follows:

$100,000.00 loan amount x .01% = $1,000 Guarantee Fee. The total loan amount would be $101,000 with the guarantee fee being financed into the loan over 30 years.

The annual monthly mortgage insurance premium would be calculated as follows:
$100,000 x ..35 = $350 a year or $29.00 a month. This annual mi fee to USDA is for life of loan now.