KENTUCKY USDA AND RURAL HOUSING MORTGAGE QUALIFYING GUIDELINES FOR 2016

Kentucky Rural Housing USDA Highlights for 2016 Kentucky USDA Rural Development Guaranteed Lending Program is geared to assist low to moderate income families realize home ownership. Below are some important highlights:   Debt Ratios--29/41% on manual underwrites  - max to 45% Debt to Income ratios with GUS Approve/Eligible Finding. ZERO down payment – 100% LTV … Continue reading KENTUCKY USDA AND RURAL HOUSING MORTGAGE QUALIFYING GUIDELINES FOR 2016

KENTUCKY USDA RURAL HOUSING PROPERTY STANDARDS FOR THE GUARANTEED HOME LOAN PROGRAM

    Sites must be modest and developed in accordance with any standards imposed by a State or local government. Therefore, the lender must verify that the following requirements are met at the time of application.  Site size The site size must be typical for the area.  (Some acreage is fine as long as it … Continue reading KENTUCKY USDA RURAL HOUSING PROPERTY STANDARDS FOR THE GUARANTEED HOME LOAN PROGRAM

502 Direct USDA Loan in Kentucky:

  There are two types of Kentucky USDA Rural Housing Home loans available to rural Kentucky Home buyers through Rural Development: Direct homeownership loans and guaranteed home ownership loans. Let's first look at the 502 Direct USDA Loan in Kentucky 502 Direct USDA Loan in Kentucky:   With a Kentucky  Direct Loan 502, the applicant applies directly to … Continue reading 502 Direct USDA Loan in Kentucky:

KY USDA Rural Housing Update 2016

Kentucky USDA Rural Development  Guideline Update Effective for all loan commitments issued on or after March 9th,  Kentucky USDA Rural Housing Loan Program  is publishing an updated version of their 3555 handbook. The new handbook includes additional guidance and clarification on many previously vague subjects, including the following changes If the credit report on a loan … Continue reading KY USDA Rural Housing Update 2016

2016 KY USDA Rural Housing Income Limits for Kentucky Counties for the Guaranteed RHS Loan

    County Name Family Size 1 -4 Family Size 5 – 8 Adair $75,650 $99,850 Allen $75,650 $99,850 Anderson $78,900 $104,150 Ballard $75,650 $99,850 Barren $75,650 $99,850 Bath $75,650 $99,850 Bell $75,650 $99,850 Boone $82,000 $108,250 Bourbon $78,400 $103,500 Boyd $75,650 $99,850 Boyle $75,650 $99,850 Bracken $82,000 $108,250 Breathitt $75,650 $99,850 Breckinridge $75,650 $99,850 … Continue reading 2016 KY USDA Rural Housing Income Limits for Kentucky Counties for the Guaranteed RHS Loan

Rural Development Kentucky Eligibility Maps Change 2015

  Rural Development Kentucky Eligibility Maps Change on February 2, 2015 Barring Congressional action that extends current eligible areas, effective February 2, 2015, Rural Development will, with a few exceptions, implement the eligibility maps in accordance with the Agricultural Act of 2014, Pub. L. 113-79 (“Farm Bill”).  The changes will be those already published on … Continue reading Rural Development Kentucky Eligibility Maps Change 2015

Kentucky USDA Guaranteed Rural Housing Loans

--- Kentucky USDA Guaranteed Rural Housing LoansDid you know that Kentucky home buyers can still get a mortgage with no money down, even with less than perfect credit? The Kentucky Guaranteed Rural Housing Loan Program offers these options in a wide range of areas, including many suburbs outside the major metro areas of Louisville, Lexington, … Continue reading Kentucky USDA Guaranteed Rural Housing Loans

Kentucky Rural Housing USDA Loan Changes for October 1, 2014 to Annual Guarantee Fee MI

The Kentucky USDA/Rural Development loan Annual Guarantee Fee is set to INCREASE October 1. 2014.  Mark your calendar and prepare your processors for this change.  Any loans that will be sent to Kentucky Rural Housing  USDA for Commitment 10/1/14 or after will need to have this fee showing properly.  Which translates to loans that you start … Continue reading Kentucky Rural Housing USDA Loan Changes for October 1, 2014 to Annual Guarantee Fee MI

2014 Income Limits for Kentucky USDA’s Single Family Guaranteed Loan Program

The 2014 Income Limits for Kentucky USDA's Single Family Guaranteed Loan Program were recently published.  The good news is that the majority of all areas either increased or stayed the same. Click Here to view the updated Kentucky Rural Housing USDA Income Limits for 2014 in your area. -- Joel Lobb  Senior  Loan Officer (NMLS#57916) … Continue reading 2014 Income Limits for Kentucky USDA’s Single Family Guaranteed Loan Program

Debt Ratio Waivers and Compensating Factors for Kentucky USDA Rural Housing Development Loans for 2014

 Kentucky USDA Rural Housing Development Loans for 2014 Effective May 1, 2013, Agency concurrence of a debt ratio may be granted if all of the following conditions are met: 1. The PITI is between 29 and 32 percent or the TD ratio is between 41and 44 percent; 2. The credit score of all applicant(s) is … Continue reading Debt Ratio Waivers and Compensating Factors for Kentucky USDA Rural Housing Development Loans for 2014

INCOME ELIGIBILITY FOR KENTUCKY USDA LOANS AND RURAL HOUSING DEVELOPMENT RHS

INCOME ELIGIBILITY             • For the Guaranteed Loan Program, the borrower’s adjusted income may not exceed 115% of the U.S. median income • An income calculator is available on the Rural Development Web site at http://eligibility.sc.egov.usda.gov. From the home page, click “Single Family Housing” under “Income  Eligibility.” • The following … Continue reading INCOME ELIGIBILITY FOR KENTUCKY USDA LOANS AND RURAL HOUSING DEVELOPMENT RHS

Kentucky USDA RHS Rural Housing Mortgage Loans for 2013

Kentucky USDA RHS Rural Housing Mortgage Loans for 2013 Kentucky USDA Rural Program Guidelines Borrower Eligibility U.S. citizens Permanent resident aliens First time homebuyers allowed Maximum 2 borrowers allowed Non-occupant co-borrowers NOT allowed Commitment Fee USDA Rural Developmet charges a 2% Commitment Fee Commitment Fee can be financed into the loan Example: Purchase price - $100,000 … Continue reading Kentucky USDA RHS Rural Housing Mortgage Loans for 2013

Rural Development (RD) funding, Kentucky Housing Corporation (KHC) will continue to purchase RHS Guaranteed Loans

During the temporary lapse in Rural Development (RD) funding, Kentucky Housing Corporation (KHC) will continue to purchase RHS Guaranteed Loans from Correspondent Lenders.  KHC will also continue to fund and close RHS Guaranteed Loans for Third Party Originators.  KHC will still require an RHS Conditional Commitment on every loan prior to funding or purchasing the … Continue reading Rural Development (RD) funding, Kentucky Housing Corporation (KHC) will continue to purchase RHS Guaranteed Loans

Property Trax: Federal shutdown threatening local mortgages, rental assistance : Wsj USDA Rural Development’s Single Family Housing Guaranteed Loan Program

Property Trax: Federal shutdown threatening local mortgages, rental assistance : Wsj. via Property Trax: Federal shutdown threatening local mortgages, rental assistance : Wsj. The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural home buyers achieve their dream of home ownership! Rural Development partners with approved local lenders … Continue reading Property Trax: Federal shutdown threatening local mortgages, rental assistance : Wsj USDA Rural Development’s Single Family Housing Guaranteed Loan Program

Federal Government shutdown and their effect on FHA, VA, USDA loans in Kentucky

  Federal Government shutdown and their effect on FHA, VA, USDA loans in Kentucky This morning at 12:00am the Federal Government was shut down.    The following is what we know, so far, about what the impact will be to our loan production efforts.    FHA- While the FHA offices are open with a reduced … Continue reading Federal Government shutdown and their effect on FHA, VA, USDA loans in Kentucky

2010 Census Data Implementation – Eligible Rural Area Change for Kentucky USDA and Rural Housing Mortgage Loans RHS KY

– Eligible Rural  Area Change for Kentucky USDA and Rural Housing Mortgage Loans RHS KY On March 26, 2013, the President signed “H.R.933 – Consolidated and Further Continuing Appropriations Act, 2013” which provided funding through September 30, 2013. The Bill also extended the eligible rural areas that were in effect as of September 30, 2012 … Continue reading 2010 Census Data Implementation – Eligible Rural Area Change for Kentucky USDA and Rural Housing Mortgage Loans RHS KY

USDA Loan Eligible Rural Areas in Kentucky Counties including the cities of Bardstown, Ky, Elizabethtown, Shepherdsville, Shelbyville, Frankfort, Burlington, Nicholasville, and Independence Northern Kentucky Have Changed effective October 1, 2013 will no longer be eligible for USDA and Rural Housing Guaranteed Loans or Direct loans!

Kentucky USDA Loans | Rural Housing Loans Kentucky.USDA Loan Eligible Rural Areas in Kentucky  Counties including the cities of Bardstown, Ky, Elizabethtown, Shepherdsville, Shelbyville, Frankfort, Burlington, Nicholasville,  and Independence  Northern Kentucky  Have Changed effective October 1, 2013 will no longer be eligible for USDA and Rural Housing Guaranteed Loans or Direct loans!KY Bardstown, city Nelson … Continue reading USDA Loan Eligible Rural Areas in Kentucky Counties including the cities of Bardstown, Ky, Elizabethtown, Shepherdsville, Shelbyville, Frankfort, Burlington, Nicholasville, and Independence Northern Kentucky Have Changed effective October 1, 2013 will no longer be eligible for USDA and Rural Housing Guaranteed Loans or Direct loans!

Kentucky Rural Development and Rural Housing USDA Loan Program

Kentucky Rural Development and Rural Housing USDA Loan Program General Information The Rural Housing Service (RHS) provides a number of housing and community facility programs in rural areas. The direct rural housing programs provide subsidy for home ownership, rental housing, home repairs, and rehabilitation. Only one of 16 direct programs is not subsidized. RHS also … Continue reading Kentucky Rural Development and Rural Housing USDA Loan Program

Kentucky USDA Rural Development Mortgage

Kentucky USDA Rural Development Mortgage Overview Features Benefits Down Payment is not required Borrowers without savings, or who wish to retain their savings qualify 100% financing More Americans become homeowners No reserves are required Buyers do not need to provide bank statements Expanded qualifying ratios Buyers with satisfactory credit may qualify with higher Debt-to-Income ratios … Continue reading Kentucky USDA Rural Development Mortgage

Kentucky Mortgage Refinance Questions to ask: Kentucky Housing VA FHA KHC USDA and FNMA

Kentucky Mortgage Refinance Questions to ask: Kentucky Housing VA FHA KHC USDA and FNMA. via Kentucky Mortgage Refinance Questions to ask: Kentucky Housing VA FHA KHC USDA and FNMA. Related Articles Kentucky First Time Home Buyer Grants and Loan Programs (kentuckyfirsttimehomebuyer.com) Kentucky First Time Home Buyer (Louisville, Ky) (kentuckyfirsttimehomebuyer.com) Louisville Kentucky mortgage rates (louisvillekymortgage.net) Louisville … Continue reading Kentucky Mortgage Refinance Questions to ask: Kentucky Housing VA FHA KHC USDA and FNMA

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities   As of Thursday, March 28, 2013, RHS  or Rural Housing Loans will use the 2010 Census Data for Kentucky cities, which will impact certain cities in regards to their eligibility for RHS or USDA , rural housing  loans in Kentucky .  Unless there are other changes … Continue reading New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities

Kentucky USDA Loans | Rural Housing Loans Kentucky

Kentucky USDA Loans | Rural Housing Loans Kentucky. via Kentucky USDA Loans | Rural Housing Loans Kentucky. 100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans Buy a Home with No Down-Payment or Refinance Your Mortgage to 100% Just a few years ago, most mortgage companies offered no money down home loans, but … Continue reading Kentucky USDA Loans | Rural Housing Loans Kentucky

Ky Rural Housing and USDA Loans Guidelines

Ky Rural Housing and USDA Loans Guidelines USDA/Rural Housing 0 Down Kentucky USDA Mortgage Loans Kentucky Single Family Housing Guaranteed Loan Program Kentucky Single Family Housing Guaranteed Loan Program  – 25 Frequently Asked Questions “ 25 Questions and  Answers 1 What is the guarantee? USDA Rural Development provides the full faith and assurance of the … Continue reading Ky Rural Housing and USDA Loans Guidelines

Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013

Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013 by Louisville Kentucky Mortgage   Kentucky Rural Housing and USDA Property Eligibility    Beginning March 27, 2013, RHS  will begin using the 2010 Decennial Census data to determine property and income eligibility for Kentucky properties for USDA and Rural Housing Loans in Kentucky . This means that a borrower in any … Continue reading Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013

Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013

Kentucky Rural Housing and USDA Property Eligibility           Beginning March 27, 2013, RHS  will begin using the 2010 Decennial Census data to determine property and income eligibility for Kentucky properties for USDA and Rural Housing Loans in Kentucky . This means that a borrower in any area which has experienced a … Continue reading Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013

Kentucky USDA Rural Housing Loan Program

Kentucky USDA Rural Housing Loan Program     LOAN TERM: 30 year only LOAN FEATURES:  Maximum LTV– 100%No down-payment required if not financing guarantee fee.  Guarantee Fee of 2% for purchase transactions (2%for refinances) can be financed in the loan amount. For existing site built single family. (More than 1 year old or … Continue reading Kentucky USDA Rural Housing Loan Program

Credit Requirements for A Kentucky Rural Housing RHS Mortgage Loan

2013 Credit Requirements for A Kentucky Rural Housing RHS Mortgage Loan   REQUIREMENTS · Credit report must match GUS Findings. · Must not be older than 120 days on the date of closing for existing properties and 180 days for proposed and new construction. · Must contain complete information provided by all three repositories. · … Continue reading Credit Requirements for A Kentucky Rural Housing RHS Mortgage Loan

Kentucky USDA and Rural Housing Underwriting Update for November 2012

Kentucky USDA and Rural Housing Underwriting Update for November 2012 This website is not an Government Agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency.  1)  Kentucky USDA loans and rural housing underwriting  is tightening up!  You are going to see us asking for more to make sure we have … Continue reading Kentucky USDA and Rural Housing Underwriting Update for November 2012

Kentucky USDA and Rural Housing Credit Scores Guidelines

Kentucky USDA No Score Loan Guides DTI: 29/41 Maximum no exceptions. Rent: 12 months 0 x 30 on Rent. 12 months cancelled checks or VOR if institution. Or a four Non Traditional Trade Lines may be substituted with underwriting approval. Credit: No delinquent or derogatory past or current credit. Regardless of size or type. No … Continue reading Kentucky USDA and Rural Housing Credit Scores Guidelines

Rural Housing announced today that the Kentucky eligible property map will NOT be changing

Kentucky USDA and Rural Development Eligible Areas in Kentucky January 2014 USDA RURAL HOUSING UPDATE  The new 2014 Farm Bill has now passed the House and the Senate in Congress. This is a big deal for home buyers in the Louisville, Kentucky area and surrounding areas in Central Kentucky. This bill grandfathered the existing communities … Continue reading Rural Housing announced today that the Kentucky eligible property map will NOT be changing

Kentucky Single Family Housing Guaranteed Loan Program

Kentucky Single Family Housing Guaranteed Loan Program Kentucky Single Family Housing Guaranteed Loan Program  – 25 Frequently Asked Questions “ 25 Questions and  Answers 1 What is the guarantee? USDA Rural Development provides the full faith and assurance of the U.S Government that any financial loss resulting from servicing the loan will be reimbursed in … Continue reading Kentucky Single Family Housing Guaranteed Loan Program

Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program

Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program Kentucky Guaranteed Loans Offer Affordable Financing To Rural Homebuyers. The mission of Kentucky Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural Kentucky  homebuyers achieve their dream of homeownership! Kentucky Rural Development partners with approved local lenders to extend 100% financing … Continue reading Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program

MORTGAGE LOAN PAYOFFS FOR USDA RURAL DEVELOPMENT DIRECT HOUSING LOANS IN KENTUCKY

MORTGAGE LOAN PAYOFFS FOR USDA RURAL DEVELOPMENT DIRECT HOUSING LOANS IN KENTUCKY x   USDA DIRECT LOAN PAYOFFS FOR KENTUCKY USDA MORTGAGES MORTGAGE LOAN PAYOFFS FOR USDA RURAL DEVELOPMENT DIRECT HOUSING LOANS Understand that most RD loans have a “Subsidy Recapture” feature. What is this? After a loan is closed, the subsidized portion of a borrower’s … Continue reading MORTGAGE LOAN PAYOFFS FOR USDA RURAL DEVELOPMENT DIRECT HOUSING LOANS IN KENTUCKY

The Kentucky Guaranteed Rural Housing (GRH) Loan Program

The Kentucky Guaranteed Rural Housing (GRH) Loan Program is designed to assist households in obtaining adequate but modest, decent, safe and sanitary dwellings and related facilities for their own use in rural areas. Loans are limited to applicants with incomes that do not exceed state and local Rural Development (RD) median income limits and property … Continue reading The Kentucky Guaranteed Rural Housing (GRH) Loan Program

2012 USDA Rural housing loan program Refinance for Kentucky

2012 USDA Rural housing loan program for Kentucky refinances Obama Administration Announces Pilot Program to Help Rural Borrowers Refinance Mortgages, Get Lower Interest Rates WASHINGTON, Feb. 1, 2012 – Agriculture Secretary Tom Vilsack today announced that the U.S. Department of Agriculture is launching a pilot program to help rural borrowers refinance their mortgages to reduce … Continue reading 2012 USDA Rural housing loan program Refinance for Kentucky

Kentucky USDA Guaranteed Rural Housing Mortgage Guidelines

  502-905-3708-Free Same Day Loan Approvals-- Kentucky Mortgage USDA Loan Requirements What are the Kentucky USDA Mortgage Loan Requirements? To decide if you qualify for an USDA Mortgage Loan, we will look at: Your income and your monthly expenses. Standard debt-to-income ratios are 29/41 for USDA Loans. These ratios may be exceeded with compensation factors. Your … Continue reading Kentucky USDA Guaranteed Rural Housing Mortgage Guidelines

Kentucky Guaranteed Rural Housing Loans 2012 Update

Kentucky Guaranteed Rural Housing loans: Temporarily unavailable for Refinance transactions   On Dec. 5, an industry update from the national United States Department of Agriculture (USDA) Rural Development office announced an increase in the Upfront Guarantee Fee that will be charged on Refinance transactions using the Guaranteed Rural Housing program (which is also known as … Continue reading Kentucky Guaranteed Rural Housing Loans 2012 Update

Credit Scores and the Kentucky USDA Rural Development Loan Program

Credit Scores and the  Kentucky  USDA Rural Development Loan Program   The Kentucky USDA Rural Development Loan Program is by far the most credit score friendly loan program currently available. While USDA is willing to work with scores lower than 640 most lenders won't. Thus, pragmatically the minimum credit score required by USDA is 640. … Continue reading Credit Scores and the Kentucky USDA Rural Development Loan Program

Kentucky Single Family Housing Guaranteed Loan Program USDA and Rural Housing Changes 10/1/2011

Kentucky USDA/Guaranteed Rural Housing Program Federal Budget Battle May Affect Funding Effective October 1, 2011   Despite changes in the fee structure effective October 1, 2011, Congress must appropriate funds for the Kentucky Guaranteed Rural Housing program. Assuming Congress passes legislation currently under consideration to keep the federal government fully functional, a number of days … Continue reading Kentucky Single Family Housing Guaranteed Loan Program USDA and Rural Housing Changes 10/1/2011

USDA Has $11.2 Billion to Guarantee No-Down Mortgages in Kentucky

USDA Has $11.2 Billion to Guarantee No-Down Mortgages in Kentucky By Steve Cook  Print Article The U.S. Department of Agriculture has only two months to spend $11.2 billion on its no-down payment rural development loan program, a record amount at this juncture in the federal fiscal year for the program that provides no-down payment mortgages … Continue reading USDA Has $11.2 Billion to Guarantee No-Down Mortgages in Kentucky

USDA Mortgage Update: Monthly Mortgage Insurance Starting October 1,2011

USDA Mortgage Update: Monthly Mortgage Insurance Starting October 1,2011 USDA Mortgage Update: Monthly Mortgage Insurance Starting October 1,2011 According to a recent Administrative Notice (AN4557) sent out by USDA, starting October 1, 2011 the upfront guarantee fee will be reduced from 3.5% of the loan amount to 2% with the addition of minimal monthly mortgage … Continue reading USDA Mortgage Update: Monthly Mortgage Insurance Starting October 1,2011

The Kentucky Guaranteed Rural Housing (GRH) Loan Program is designed to assist households in obtaining adequate but modest, decent, safe and sanitary dwellings and related facilities for their own use in rural areas. Loans are limited to applicants with incomes that do not exceed state and local Rural Development (RD) median income limits and property … Continue reading

Kentucky USDA Rural Development Mortgage Loan

 Kentucky USDA Rural Development Mortgage Loan Kentucky USDA Rural Development No Money Down USDA Loan Program For Kentucky homebuyers the no money down USDA Loan Program offers affordable mortgage financing for moderate income households purchasing a house in a designated USDA Rural area as determined by the Rural Housing Service (RHS). Income and property location … Continue reading Kentucky USDA Rural Development Mortgage Loan

Specializing in Kentucky FHA/VA, USDA, KHC, Conventional mortgage loans (Fannie Mae )in Ky

100% Financing Zero Down Payment Financing Kentucky Mortgages

100% Financing in Kentucky for Home Loans

Did You know you can go 100% LTV with a 620 Score? (in qualified areas in Kentucky )   USDA RURAL DEVELOPMENT LOANS   USDA is a manually underwritten product that has to be delivered to the Local USDA branch to give the final UW approval and the Guarantee Commitment.   Ensure property eligiblty: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11Continue reading 100% Financing in Kentucky for Home Loans

Upfront guarantee fee will change from 2.75% to 1.0% Annual fee will change from 0.50% to 0.35%-Huge Savings for Kentucky Home Buyers using the Rural Housing USDA Program

2016 USDA Guarantee Fee and Annual Fee Mi Changes 502 Guaranteed LoanBullitt County KY Homes for Sale (Foreclosures owned by USDA/RHS KYHomes for Sale in Kentucky by USDA kentucky first time home buyerUSDA /Rural Housing Loan Offices in Ky USDA RURAL DEVELOPMENT DIRECT HOUSING LOANSUSDA/RHS Income limits by Ky Counties

Kentucky USDA Rural Housing Mortgage Loans

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*Upfront guarantee fee will change from 2.75% to 1.0%
Annual fee will change from 0.50% to 0.35%

Kentucky USDA Loans are not just for small farm communities, but rather they can help many lower-income individuals or households purchase homes in many small cities, towns and townships!

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kentuckyloan@gmail.comCall or Text 502-905-3708 with your KY USDA Rural Housing Questions

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Upfront guarantee fee will change from 2.75% to 1.0% Annual fee will change from 0.50% to 0.35%-Huge Savings for Kentucky Home Buyers using the Rural Housing USDA Program

*Upfront guarantee fee will change from 2.75% to 1.0% Annual fee will change from 0.50% to 0.35%   Kentucky USDA Loans are not just for small farm communities, but rather they can help many lower-income individuals or households purchase homes in many small cities, towns and townships!  

Kentucky USDA Rural Housing Streamline Refinance Changes in 2016

    Kentucky USDA Mortgage holders should look to  Streamline Refinance  for Customers wanting to lower their payments and reduce their mortgage insurance   PROGRAM REQUIREMENTS Existing Loan Current loan may be a section 502 Guaranteed or Direct loan. New Interest Rate The new interest rate must meet the following requirements: 1) Fixed, and 2) … Continue reading Kentucky USDA Rural Housing Streamline Refinance Changes in 2016

Kentucky Rural Housing USDA Guarantee Upfront and Annual Fee Changes October 2016

    Kentucky RHS USDA Mortgage Insurance  Changes Below and Important Dates to Keep in Mind that could affect your loan closing and approval! On October 1, 2016, both the upfront guarantee fee and annual fee for purchase and refinance loans will decrease. We are reducing the upfront guarantee fee from 2.75% to 1%, and … Continue reading Kentucky Rural Housing USDA Guarantee Upfront and Annual Fee Changes October 2016

Zero Down Mortgage? Yes, With The USDA Home Loan

August 11, 2016
Funding is Available for your SFH Guaranteed Applications!

As we enter the last two months of Fiscal Year (FY) 2016, Rural Development is pleased to announce that USDA has more than $10 billion available to guarantee no-down payment loans for your rural customers through our Single Family Housing Guaranteed Program. Today’s low interest rate environment, coupled with new program features such as the single-close construction loan and the streamlined-assist refinance option, makes this a great opportunity for rural Americans! Please visit our SFH Guarantee website or contact a Guaranteed Loan Specialist for more information!

Thank you for your support of the Single Family Housing Guaranteed Loan Program! We are proud to partner with you to serve the rural homebuyers of America.

Louisville Kentucky Mortgage Loans

Zero Down Mortgage?  Yes, With The USDA Home Loan As a loan originator, I get lots of questions from home buyers and Realtors about 100% financing. After the recent home mortgage meltdown crisis, n…

Source: Zero Down Mortgage? Yes, With The USDA Home Loan

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What’s the Difference Between an FHA and a USDA Mortgage?

What’s the Difference Between an FHA and a USDA Mortgage?

Tech Savvy Lender

What’s the Difference Between an FHA and a USDA  Mortgage?

The vast majority of first time home buyers purchase their first home with using either an FHA or a USDA home loan for their financing.  These two options offer some great advantages as well as some negatives.  Let’s take a look at the differences.

Hopefully after watching that video you have a bit better understanding of the difference between an FHA and a USDA home loan.

FHA LoanFHA Loans

FHA loans are by far the most popular of all loan options for first time home owners.  The unique combination of low down payment, lenient credit qualifying, artificially low interest rates along with no income limits or property geographic limitations make this the loan of choice.

These loans are sponsored by the Federal Housing Administration (FHA) in order to increase availability of mortgage financing to those who have only a small down payment but still would…

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Credit Score Requirements for Kentucky Mortgage USDA Zero Down Home Loans

Mortgage”
Rural Housing Loans in Kentukcy Zero Down Home Loans
In “USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixed”

Kentucky First Time Home Buyer Programs for 2016 FHA, VA, KHC, USDA, RHS, Fannie Mae Loans in Kentucky

RD INSTRUCTION 1980-D, EXHIBIT C PAGE 63   GUARANTEED HOUSING PROGRAM INCOME LIMITSSTATE:KENTUCKY — ADJUSTED INCOME LIMITS —

PROGRAM 1-4 PERSON 5-8 PERSON

Bowling Green, KY MSA

RHS LOW INCOME 43700 57700

RHS MOD.INC-GUAR.LOAN 74050 97750

Cincinnati-Middleton, OH-KY-IN HUD Metro FMR Area

RHS LOW INCOME 55600 73400

RHS MOD.INC-GUAR.LOAN 79950 105550

Grant County, KY HUD Metro FMR Area

RHS LOW INCOME 43900 57950

RHS MOD.INC-GUAR.LOAN 74050 97750

Clarksville, TN-KY HUD Metro FMR Area

RHS LOW INCOME 42300 55850

RHS MOD.INC-GUAR.LOAN 74050 97750

Elizabethtown, KY MSA

RHS LOW INCOME 44500 58750

RHS MOD.INC-GUAR.LOAN 74050 97750

Evansville, IN-KY HUD Metro FMR Area

RHS LOW INCOME 49100 64800

RHS MOD.INC-GUAR.LOAN 74050 97750

Huntington-Ashland, WV-KY-OH MSA

RHS LOW INCOME 38800 51200

RHS MOD.INC-GUAR.LOAN 74050 97750

Lexington-Fayette, KY MSA

RHS LOW INCOME 52400 69150

RHS MOD.INC-GUAR.LOAN 75350 99450

Louisville, KY-IN HUD Metro…

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Kentucky Rural Housing USDA Appraisal Requirements

Property must meet HUD’s minimum Property standards. i.e.: permanent heat source, functional kitchen, health & safety Flips subject to UW review Transferred appraisal – not allowed Appraisal valid 120 days – 30 day extension possible Swimming Pools – ok Property eligibility – Located in a USDA designated rural area New Construction Available RHS Condos In … Continue reading Kentucky Rural Housing USDA Appraisal Requirements