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2012 USDA / Rural Housing Funding Approved!

Dear Valued Partner,

Single Family Housing Guaranteed Loan Program (SFHGLP) has approved additional funding of $24 Billion for the purpose of purchase and refinance USDA/Rural Housing insured mortgages for fiscal year 2012 (FY12).

FY12 Fee Structure

Around December 15, 2011, refinance funds under the FY12 fund will be available. Lenders will receive notification of commitment authority for FY12 refinance requests when commitment authority is available.

The 2012 Rural Housing Mortgage Insurance premiums shall be:

  • 2 percent upfront guarantee fee for purchase transactions;
  • 1 percent upfront guarantee fee for refinance transaction; and
  • 0.3 percent annual fee for both purchase and refinance transactions.

Sun West Mortgage Company holds over 30 years of experience in government lending with excellent customer service and in-house underwriting, funding and servicing.

If you have any questions, please feel free to call on your Account Executive at (800) 453-7884.

Note: The FY12 fund of $24 billion for the SFHGLP account will not be available for about two weeks after the date of notice of, December 1, 2011. During the two week period, refinance transactions will receive Conditional Commitments "subject to the receipt of commitment authority" from Rural Development.

Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone : (800) 453-7884

Equal Housing OpportunityThis information is provided to licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303, Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884