The USDA recently put out their newly revised handbook and there’s at least one thing that you need to be aware of…. The ³Realtor Admin Fee², or any other similarly named fee representing an administrative charge imposed by the Realtor on the borrower, may not be charged to the borrower on a USDA loan. Additionally, this fee cannot be paid through seller or lender credits. The basis for this change comes from Chapter 6 of the USDA Guides, which strictly prohibit ³administrative fees charged to the buyer by the Realtor.² I personally verified this with the USDA as well … (0 comments)
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