FSA Guaranteed Loan Program - Guarantee Loan Origination Fee Increase
Effective October 1, 2011, the one-time loan origination fee charged on FSA guaranteed Farm Ownership and Operating loans will increase from 1 percent to 1.5 percent of the guaranteed portion of the loan (loan amount x percent guaranteed x .015). This represents the first loan origination fee increase since the program's inception. The fee increase, necessitated by budget constraints, will help FSA maintain the amount of guaranteed credit available. The rule for the fee increase is expected to be published in the Federal Register in September 2011.
Please note that loans obligated prior to October 1, 2011, will be charged the current 1 percent fee, regardless of when the loan is closed.
Consistent with current policy, the loan origination fee will not be charged on guaranteed loans issued to farmers or ranchers participating in FSA’s Downpayment Program, a qualified State Beginning Farmer Program, refinancing FSA direct loans, or participating in the Guaranteed Operating Loan - Interest Assistance Program.
View the Farm Loan Program Website at: http://www.fsa.usda.gov/FSA/webapp?area=home&subject=fmlp&topic=landingView FSA Guaranteed Loan Program Website at: http://www.fsa.usda.gov/FSA/webapp?area=home&subject=fmlp&topic=gflIf you have any question or comments, please send us an email to askfsa@usda.gov.
Thank you
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