On October 1st, 2016,the USDA Rural Development Guaranteed Home Loan Program is making a very drastic cut to fees for Rural Housing Mortgage Loans in Kentucky
Fiscal Year 2017 Conditional Commitment Notice With the start of fiscal year 2017 (FY17) just around the corner, please take a few minutes for a timely review of the Single Family Housing Guaranteed Loan Program (SFHGLP) conditional commitment process. We hope you find this information helpful. Issuance of Conditional Commitments: At the beginning of each fiscal year, funding for the SFHGLP is not available for a short period of time – approximately two weeks. This will not change in FY 2017, which starts October 1, 2016 . During the temporary lapse of funding, Rural Development will issue Conditional Commitments “subject to the availability of commitment authority” for purchase and refinance transactions . The application processing workflow is as follows: Rural Development will continue to accept complete SFHGLP applications for purchase and refinance loan transactions from lenders; Rural Developmen...