100% Financing for Rural Home Loans in Kentucky

100% Financing for Rural Home Loans in Kentucky 
 
Kentucky USDA Rural Development Housing Zero Down
USDA Home Loans : 100% Financing Kentucky USDA Rural Development Housing Zero Down
Kentucky USDA Mortgage Loans
Kentucky Single Family Housing Guaranteed Loan Program

 

  • 100% financing, no down payment is required for the Rural Development Guarantee 502 Program in Ky. 30 Fixed 30 Year Rates only.
  • Qualifying ratios are 29% for housing costs and 41% for total debt. Borrowers may request an exception to exceed these ratios when strong compensating factors are identified.
  • No Max. Purchase Price.
  • Gift/Grant or Seller Concessions are allowed.
  • Not limited to Kentucky first time home buyers. Typically cannot own another home when using the RHS Ky Mortgage Loan Program. 
  • Income Restrictions Apply by Kentucky Counties with most counties being limited to $75k for a household family of four, or up to $98k for a household family of 5 or more.
  • Seller Concessions up to 6% allowed or up to appraised value. 
  • 640 Middle Credit Score is needed for an automated approval through GUS, but can go lower on credit scores to 620 with compensating factors, such as, verified 12 month rent history with no lates, 2 months reserves or more, limited debt to income ratios of 31 and 43% respectively with no lates in last 12 months. 
  •  

     
    Joel Lobb 
    Senior  Loan Officer

    (NMLS#57916)
     
     

     phone: (502) 905-3708
     Fax:     (502) 327-9119
     
     Company ID #1364 | MB73346

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