Upfront Guarantee Fee and Annual Fee Reduction

April 28, 2016

Upfront Guarantee Fee and Annual Fee Reduction for Fiscal Year (FY) 2017

This message provides advance notice of the upfront guarantee fee and annual fee structure that will be effective for Single Family Housing Guaranteed Loan Program (SFHGLP) loans in fiscal year (FY) 2017, which begins October 1, 2016 and ends at the close of business on September 30, 2017.  The upfront guarantee fee will change from 2.75% to 1.0% of the loan amount.  The annual fee will change from 0.50% to 0.35% of the average scheduled unpaid principal balance for the life of the loan.

Please refer to the unnumbered letter (UL), Upfront Guarantee Fee and Annual Fee for Fiscal Year 2017, for additional details.

The “Guarantee Fee & Annual Fee Calculator” is available online at the USDA LINC Training and Resource Library in the “Loan Origination” and “Guarantee Annual Fee (GAF) Billing and Payment” sections of the page.

Thank you for your support of the Single Family Housing Guaranteed Loan Program!

To start the process of owning your own home and applying online, simply click HERE and take a few minutes to complete an online application.  Often times, you can be Pre-Approved in minutes!  

Or TEXT the word ‘LOAN’ to 38470

To see if you qualify for  Free Government Down Payment Assistance, click Down Payment Assistance !  There is no first time home buyer requirement.