CHANGE TO KENTUCKY ANNUAL USDA GUARANTEE FEE STRUCTURE OCTOBER 1, 2014


CHANGE TO ANNUAL USDA GUARANTEE FEE STRUCTURE and CHANGE IN ELIGIBILITY MAPS  As announced in RD AN No. 4757, the annual guarantee fee structure (paid monthly from the borrower's escrow account) for purchase and refinance loans will increase as follows (no change to the one-time upfront fee at this time):

CHANGE TO ANNUAL USDA GUARANTEE FEE STRUCTURE and
CHANGE IN ELIGIBILITY MAPS
As announced in RD AN No. 4757, the annual guarantee fee structure (paid monthly from the borrower’s escrow account) for purchase and refinance loans will increase as follows (no change to the one-time upfront fee at this time):

CHANGE TO KENTUCKY ANNUAL USDA GUARANTEE FEE STRUCTURE and

CHANGE IN ELIGIBILITY MAPS 

As announced in RD AN No. 4757, the annual guarantee fee structure (paid monthly from the borrower’s escrow account) for purchase and refinance loans will increase as follows (no change to the one-time upfront fee at this time):

ANNUAL GUARANTEE FEE
THROUGH 9/30/2014
EFFECTIVE 10/1/14
Purchase Transactions

.40%

.50%

Refinance Transactions

.40%

.50%

The new fee structure is applicable to all Kentucky Conditional Commitments issued by Rural Development on or after October 1, 2014. Loan guarantee requests submitted to Rural Development (RD) on which a conditional commitment has not been issued bySeptember 30, 2014, will be subject to the 2014 annual guarantee fee structure.

.

*   *   *   *   *   *

As announced in RD AN No. 4748, and barring any Congressional actions, implementation of the provisions of a revised rural area definition become effective on October 1, 2014. The future eligibility area maps can be viewed on the USDA Eligibility web site at:http://eligibility.sc.egov.usda.gov. THIS MEANS THAT PROPERTIES THAT ARE ELIGIBLE TODAY, MAY NOT BE ELIGIBLE ON AND AFTER OCTOBER 1, 2014.



 

 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
 
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119
 Company ID #1364 | MB73346
 
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2 thoughts on “CHANGE TO KENTUCKY ANNUAL USDA GUARANTEE FEE STRUCTURE OCTOBER 1, 2014

  1. Pingback: CHANGE TO KENTUCKY ANNUAL USDA GUARANTEE FEE STRUCTURE OCTOBER 1, 2014 | Kentucky USDA Rural Housing Mortgage Loans

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