Kentucky Rural Housing USDA Guarantee Upfront and Annual Fee Changes October 2016


2016 USDA Guarantee Fee and Annual Fee Mi Changes502 Guaranteed Loanannual mi feekentucky first time home buyerMI Changes for USDA Oct 2011mortgage insurance annual feerural developmentRural Development loanUSDAUSDA /Rural Housing Loan Offices in KyUSDA RURAL DEVELOPMENT DIRECT HOUSING LOANSZero Down Home Loans

Kentucky USDA Rural Housing Mortgage Loans

 

Human hand with a pot watering growing money tree Good News for Kentucky First Time Home Buyers Using the USDA Rural Housing Loan Program!

Kentucky RHS USDA Mortgage Insurance  Changes Below and Important Dates to Keep in Mind that could affect your loan closing and approval!

On October 1, 2016, both the upfront guarantee fee and annual fee 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.

Due to the large volume of loan applications received daily, as well as current turn times, Kentucky will begin accepting applications using the new FY17 fee schedule on September 27, 2016

Applications using the new FY17 fee schedule submitted before September 27, 2016 will not be…

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