CHM Blog

USDA announces lower guarantee and annual fees for FY 2017

June 9th, 2016 10:24 AM by Richard Sardella MLO.100007700/NMLS 233568

March 31, 2016

TO: State Directors
Rural Development
ATTENTION: Rural Housing Program Directors,
Guaranteed Loan Coordinators,
Area Directors and Area Specialists

FROM: Tony Hernandez /s/ Tony Hernandez
Administrator
Rural Housing Service

SUBJECT: Single Family Housing Guaranteed Loan Program
Upfront Guarantee Fee and Annual Fee for Fiscal Year 2017

PURPOSE/INTENDED OUTCOME:
The purpose of this unnumbered letter (UL) is to announce the upfront guarantee fee and annual fee for Single Family Housing Guaranteed Loan Program (program) loans which are obligated by the Agency in fiscal year (FY) 2017. FY 2017 begins October 1, 2016, and ends at the close of business September 30, 2017.

Program loans obligated during FY 2017 will be subject to a 1.0 percent upfront
guarantee fee and a 0.35 percent annual fee, for both purchase and refinance transactions.

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.

A “Guarantee Fee and Annual Fee Calculator” is available online from the USDA LINC
“Training and Resource Library”: https://usdalinc.sc.egov.usda.gov/USDALincTrainingResourceLib.do#GAF.

If you have any questions, please contact Lilian Lipton of the Guaranteed Loan Division
at (202) 260-8012, or via email: lilian.lipton@wdc.usda.gov. The Single Family
Housing Guaranteed Loan Division may also be contacted at (202) 720-1452.

Posted in:General
Posted by Richard Sardella MLO.100007700/NMLS 233568 on June 9th, 2016 10:24 AM

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