§ 1007.55. Guarantee fee.
47 words·~1 min read·
/us/cfr/t24/s§ 1007.55·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The lender shall pay to HUD, at the time of issuance of the guarantee, a fee for the guarantee of loans under this part, in an amount equal to 1 percent of the principal obligation of the loan. This amount is payable by the borrower at closing.