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From: Iha, Nathan - Aiea, HI [mailto:Nathan.Iha@hi.usda.gov]
Sent: Thursday, September 01, 2011 9:28 AM
Cc: Kimura, Wesley - Hilo, HI; Khamoui, Thao - Honolulu, HI
Subject: SFHGLP - Rural Areas and Guarantee Fee
Good morning,
Thank you for your continued support of the Single Family Housing Guaranteed Loan Program (SFHGLP). August,
2011 was the busiest month ever!
I would like to update you on the matter of changes to the eligible rural areas on Oahu. I recently found out if there will
be any changes to the eligible rural areas, the changes will be effective October 1, 2012. Yes, that’s correct, 2012.
Therefore, we still have 13 more months to use the current eligible rural areas.
On another matter, please take note that the guarantee fee structure will change effective October 1, 2011 (Yes, that’s
correct, 2011). The new fee structure will be 2% upfront fee and 0.3% annual fee for purchase loans, and 1% upfront
fee and 0.3% annual fee for refinance loans. The new fee structure will be in effect for loans with Conditional
Commitments issued on or after October 1, 2011. Please be cautioned for application packages submitted from
September 22 – 30, 2011, we are unable to guarantee processing your applications before October 1st. If we are
unable to process your application prior to October 1st, we will return the application package to you since the new
guarantee fee structure will be in effect. I apologize in advance if this should occur, but please understand we simply
will not be able to process all applications in a timely manner should we receive a large number of applications. I thank
you for your understanding and cooperation during this transition.
As always, please call or email me if you have any questions.
Nathan S. Iha | Area Specialist
Rural Development
U.S. Department of Agriculture
99-193 Aiea Heights Drive Suite 156 | Aiea, HI 96701-3911
Phone: 808.483.8600 ext. 116 | Fax: 808.483.8605
www.rurdev.usda.gov
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