HomeBridge is advising brokers that USDA has announced an increase to the annual fee charged on all purchase transactions, Non-streamlined, Streamlined and Pilot program refinance transactions.
The annual fee is increasing from 0.40% to 0.50% effective with conditional commitments issued on or after October 1, 2014.
Loans currently in the pipeline must have a conditional commitment issued prior to October 1st to avoid the increased annual fee.
The USDA Purchase and Non-Streamlined, Streamlined and Pilot program matrices will be updated with this information and posted on the HomeBridge website at www.homebridgewholesale.com.
View the USDA News Release at USDA.Gov
If you have any questions, please contact your Account Executive.