Washington Report

Advocacy Updates from Washington D.C.

USDA reduces FY 2017 Guaranteed Loan Fees

On April 28, 2016, the US Department of Agriculture announced the FY 2017 fees for the Single Family Housing Guaranteed Loan Program, which reflects a major reduction from FY 2016 levels.

Beginning October 16, 2016, the upfront guarantee fee for Guaranteed Loans will be 1.0% of the loan amount, a reduction of 1.75% from FY 2016.  The annual fee will be 0.35% of the average scheduled unpaid principal balance for the life of the loan, a reduction of 0.15% from FY 2016.

USDA “Upfront Guarantee Fee and Annual Fee for Fiscal Year 2017” Letter