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.

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