An Unnumbered Letter (UL) dated February 13, 2024, has been issued which increases the appraisal fee to $775 and the conditional commitment fee to $850 under the direct programs. The fee increases are effective March 14, 2024. The increased fees reflect market research for origination appraisals in rural areas and incorporates the average cost of appraisals under the programs’ nationwide contract with the Appraisal Management Companies.
Rural Development staff will follow the implementation responsibilities outlined in the UL, which has been posted to https://www.rd.usda.gov/resources/directives/unnumbered-letters under Housing Programs (or click here for a direct link).