How long does it take after a Bankruptcy, foreclosure or short-sale to get approved for A Kentucky VA, USDA, Rural Housing, FHA, and Conventional Mortgage loan?

loan, the property must be located in a rural designated area as defined in Rural Development Instruction §1980.312. You may view eligible areas on USDA Rural Development’s web-site at:

the value of the site must not exceed 30 percent of the total value of the property. When the value of the site is typical for the area, as evidenced by the appraisal, and the site cannot be subdivided into two or more sites, the 30 percent limitation may be exceeded.”

via Credit Scores for Kentucky Mortgages

Achieving the dream of homeownership could be more attainable than you have anticipated. If you are concerned about the affordability of purchasing a home, it is important to know you have options when it comes to loan programs. One popular government loan is USDA Rural Development.

The program was originally created to boost the development of land in more rural areas of the country. Back when it was created, the USDA program’s sole purpose was to make rural living more achievable so that people who live in major cities could live within their means in the country, and ultimately help boost the economy in these areas as well. The program has grown significantly and is now able to help lower income families or individuals purchase homes in rural areas. We asked our very own Laura Leonhard, who is the #3 USDA lender in the nation, some common questions about this program. Here is…