Monday, August 13, 2012

Kentucky USDA RHS Guarantee Fee Change

Kentucky USDA RHS Guarantee Fee Change




RHS Guarantee Fee Change
 
   
Beginning October 1st, All Kentucky RHS  and USDA Mortgage Guarantee fees will be changing as indicated in the following table:
 
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%
 
This is effective for all RHS loans which receive conditional commitments on or after October 1st, 2012 regardless of when the loan was submitted.
 
Several USDA/Rural Development offices have a significant backlog of files. You can contact your state and local USDA/Rural Development offices for further information and to check their current turn-around times. Please make sure to accurately disclose guarantee fees with this in mind as errors may cause a delay in approval.
 
 Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*



Fill out my form here by clicking this link and getting a free mortgage pre-approval for a USDA Loan in Kentucky !