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 !