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Terms
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Maximum guarantee is lesser of 80% of the loan or $200,000
Examples:
Principal
Amount |
Maximum
Guarantee |
Guarantee
Amount |
$100,000 |
80% |
$ 80,000 |
$250,000 |
80% |
$200,000 |
$400,000 |
50% |
$200,000 |
$750,000 |
~26% |
$200,000 |
Fees
- Closing fee:*
- 1.5% of guaranteed amount on loans of $150,000 or less, or
- 2.5% of guaranteed amount on loans greater than $150,000
- Servicing fee of 0.25% on the outstanding guarantee amount due annually
*May be financed and included in the loan request, but this portion will not be guaranteedt.
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