USDA’s Upfront and Annual Fees are Getting Smaller…

By
Mortgage and Lending with The Christian Penner Mortgage Team NMLS# 368289

USDA

USDA’s Upfront and Annual Fees are Getting Smaller…

USDA FeeWe have great news from USDA and it is going to save your clients some money.

What’s New?

USDA’s Upfront and Annual Fees are Getting Smaller…
This important advisory notice explains how these changes affect your GUS submissions.

On October 1, 2016, the first day of Fiscal Year 2017 (FY17), both the upfront guarantee fee and annual fee (collectively the “fee schedule”) for purchase and refinance loans will decrease.   We are reducing the upfront guarantee fee from 2.75% to 1%, and the annual fee from .5% to .35%.   The Guaranteed Underwriting System (GUS) will be updated on August 31, 2016, to allow lenders to select and underwrite using either the FY16 or FY17 fee schedule.   The determination will be based on the current processing timeframes in each state.

 

Read from source..>>

 

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Questions, Comments or For more information you can contact Christian Penner at: Call/Text: (561) 373-0987 or visit us online at www.ChristianPenner.com

The Christian Penner Mortgage Team, A Branch of 
American Financial Network, Inc

CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821.

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Tags:
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Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Christian, I have heard about this program, but in my years have never seen one.

Sep 01, 2016 12:09 AM #1
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