USDA Loan Update

Based on updated guidance by USDA regarding availability of funds, effective immediately, the following restrictions apply.

• All USDA loans must have a Conditional Commitment issued by USDA by September 30th.
• Loans must close prior to the expiration date of the Conditional Commitment issued by USDA.
• Any loan not receiving a Conditional Commitment by USDA prior to October 1,2020, will not be eligible for financing until communication regarding available funds by USDA is received.
• LoanStream will temporarily no longer accept new USDA loans, effective immediately.
• USDA Fees will not change in Fiscal Year 2021.
  • The Upfront guarantee fee of 1.00% and an annual fee of 0.35% will apply to both purchase and refinance transactions.

Please any questions, please contact your Account Executive.