06/07/2024
In the stakeholder announcement dated May 9, 2024, USDA announced an exemption to exclude real estate commission fees from the 6% cap on seller, or other interested party, concessions.
Under this exemption, real estate commission fees paid by the seller on behalf of the homebuyer are exempt from the 6% cap. The exemption is an effort to ensure rural homebuyers continue to have affordable access to guaranteed home loan financing.
Pennymac is aligning with these changes.
Please view the USDA Stakeholder Announcement “USDA Approves Exemption to Further Modernize Guaranteed Home Loan Program and Meet Industry Standards” for additional information and requirements.
Please contact your Sales Representative with any questions.