Changes to USDA Guarantee Annual Fee

 

 

Effective on October 1, 2012, the start of Fiscal Year (FY) 2013, Rural Development will revise the Up-Front Guarantee Fee and Annual Fee structure as follows:

 

 

Up-Front Guarantee Fee

 

 

FY 2012

Through

9/30/2012

FY 2013 Effective

10/01/ 2012

Purchase Transactions (no change)

2%

2%

Refinance Transactions

1.5%

2%

 

 

Annual Fee

 

 

FY 2012

Through

9/30/2012

FY 2013

Effective 10/01/2012

Purchase Transactions

.30%

.40%

Refinance Transactions

.30%

.40%

 

 

The FY 2013 fee structure is applicable to all Conditional Commitments (Form RD 1980-18, “Conditional Commitment for Single Family Housing Loan Guarantee”) issued by Rural Development on or after October 1, 2012.  Loan guarantee requests submitted to Rural Development by September 30, 2012, in which a Conditional Commitment has not been issued, will be subject to the FY 2013 fee structure. 

 

 

 

Lenders are encouraged to plan for the changes noted and should keep in mind that some Rural Development offices are experiencing extreme backlogs in loan guarantee delivery.  There are no exceptions to the FY 2013 fee structure. Therefore, starting on October 1, 2012 all Conditional Commitments will be subject to the FY 2013 fee structure, regardless of the date the request was received by Rural Development.  

 

 

 

The FY 2013 fee structure is only applicable to Conditional Commitments issued on or after October 1, 2012, Conditional Commitments issued by Rural Development prior to this date are not subject to the new fee structure.

 

 
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1 Comments on USDA Annual Fee changes Oct 1, 2012

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872,262 Points Outside Blog Called Shot Master

Kevin - Thank you for sharing detailed quality information on USDA fee changes October 1, 2012.
9:14am • #1


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Kevin Kenagy OREGON VA-FHA-USDA FINANCING

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