Kentucky USDA Mortgage Upfront Guarantee Fee and the monthly mortgage insurance Annual fee


Joel Lobb
Senior Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

phone: (502) 905-3708
Fax: (502) 327-9119
kentuckyloan@gmail.com

Company ID #1364 | MB73346
http://mylouisvillekentuckymortgage.com/

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky USDA Mortgage Lender for Rural Housing Loans

August 1, 2012

Kentucky USDA Mortgage Upfront Guarantee Fee and the monthly mortgage insurance Annual fee 

Effective on October 1, 2012, the start of Fiscal Year (FY) 2013, Rural Development will revise the Up-Front Guarantee Fee and the monthly mortgage insurance fee structure as follows on a Kentucky USDA Mortgage loans in Kentucky for the Guaranteed Loan RHS :

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%

The FY 2013 fee structure is applicable to all Conditional Commitments (Form RD 1980-18, “Conditional Commitment for Single Family Housing Loan Guarantee”) issued by Rural Development on or after October 1, 2012.  Loan guarantee requests submitted to Rural Development by September 30, 2012, in which…

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