USDA Lowers Program Fees

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Section 538 New Fee Structure For Initial and Annual Guarantee Fees
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The Agency announced new Initial and Annual Guarantee fees for the Section 538 Guaranteed Rural Rental Housing Program, as published in the Federal Register notice, today, Federal Register :: New Fee Structure for Section 538 Guaranteed Rural Rental Housing Program Initial and Annual Guarantee Fees. The effective date for the new fees will be April 4, 2022. Applications eligible for the reduced fees are those without fully executed conditional commitments (not signed by both the Agency and Lender) as of the date the notice is published. Applications ineligible for the reduced fees are those with fully executed conditional commitments (signed by both the Agency and Lender) as of the date the notice is published, or loans obligated prior to October 1, 2021. The Agency is reducing Initial and Annual Guarantee fees across-the-board for eligible applications. Applications meeting qualifications in one of the following three categories will receive further reduction in the Initial and Annual Guarantee fees: (1) Green and Energy Efficient, (2) Preservation of Existing Section 515, 514/516 Rural Development Properties, and (3) Workforce Housing. In order to receive the additional fee reduction for any of these three categories, documentation must be submitted to the Agency along with the application package
NOTICE
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