VA Loans Louisville Kentucky
What is a Kentucky Mortgage Rate Lock?
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First Time Home Buyer Louisville Kentucky Mortgage Programs
Kentucky HUD Approved Housing Counseling Agencies
Author: Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans
2017 KY USDA Rural Housing Income Limits for Kentucky Counties Kentucky Rural Development Mortgage Guide
2017 KY USDA Rural Housing Income Limits for Kentucky Counties Kentucky Rural Development Mortgage Guide
Source: New Kentucky USDA Rural Housing Income Guidelines for 2017
RHS Income Kentucky Guideline Updates
USDA has published new income limits for Kentucky USDA Rural Housing borrowers, effective immediately. Those new limits can be found HERE.
Maximum age for an RHS appraisal has been extended from 120 days to 150 days.
- Accessory Dwelling units are now addressed in RHS guidelines. They may be allowed based on the appraiser’s evaluation that they represent the highest and best use of the property and are not a separate single family dwelling unit.
- Additional clarification on site requirements was added to help in the underwriter’s determination as to when outbuildings and/or excess land should be considered income-producing.
It’s free to get pre-approved for the loan with us and we will supply you a copy of your credit report for free along with a pre-approval letter stating how much you qualify for.
It takes about 30-40 days to close the loan
USDA Loan Pre-Approval Checklist
1. One full month’s or 30 days worth of pay stubs
2. Last 2 years W-2′s
3. Last 2 years tax returns
4. Last two months bank statements for all accounts
4. Last two months bank statements for all accounts
I don’t need originals, copies are fine. You can fax, email the requested documents or meet me face-to-face if you wish.
Let me know your questions.
Thanks and look forward to helping you–
Joel Lobb (NMLS#57916)
Senior Loan Officer
Senior Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
Text/call 502-905-3708
kentuckyloan@gmail.com
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916 http://www.nmlsconsumeraccess.org/
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.
Kentucky USDA Rural Single Family Foreclosed Homes For Sale as of 04/09/2017
| Kentucky USDA Rural Single Family Housing is kentuckyloan@gmail.com as of 04/09/2017 |
| S |
| Address | Bed/Bath | Price | |
| 871 Palmyra Rd | 3/1 | $62,310.00 – GovtBid | |
| Bedford, KY 40006 | Foreclosure Sale | ||
| 281 Elkhorn Green Pl | 4/2.5 | $101,595.00 – GovtBid | |
| Georgetown, KY 40324 | Foreclosure Sale | ||
| 3429 Stevenson Mill Rd | 3/2 | $40,200.00 – GovtBid | |
| Russellville, KY 42276 | Foreclosure Sale | ||
| 302 9th Street | 2/1 | $24,100.00 – GovtBid | |
| Carrollton, KY 41008 | Foreclosure Sale | ||
| 3079 Pope Road | 4/2 | $68,065.00 – GovtBid | |
| Scottville, KY 42164 | Foreclosure Sale | ||
| 302 Circle Dr. | 3/1 | $30,485.00 – GovtBid | |
| West Liberty, KY 41472 | Foreclosure Sale | ||
| 37 Old High Top Road | 3/1 | $20,770.00 – GovtBid | |
| Corbin, KY 40701 | Foreclosure Sale | ||
| 71 Apricot Lane | 4/2 | $62,685.00 – GovtBid | |
| Flemingsburg, KY 41041 | Foreclosure Sale | ||
| 30 Turkey Run Road | 3/2 | $38,860.00 – GovtBid | |
| Campton, KY 41301 | Foreclosure Sale | ||
| 760 Andrew Mason Rd | 2/1 | $21,440.00 – GovtBid | |
| Vanceburg, KY 41179 | Foreclosure Sale | ||
| 48 Turner Lane | 3/2 | $75,180.00 – GovtBid | |
| Monticello, KY 42633 | Foreclosure Sale | ||
| 1026 Raceland Ave | 3/1 | $18,760.00 – GovtBid | |
| Raceland, KY 41169 | Foreclosure Sale | ||
| 1729 Hillsboro Rd | 3/1 | $23,450.00 – GovtBid | |
| Flemingsburg, KY 41041 | Foreclosure Sale | ||
| 208 Shannon Court | 3/2 | $66,605.00 – GovtBid | |
| Winchester, KY 40391 | Foreclosure Sale | ||
| 735Ray Smith Road | 3/1 | $32,160.00 – GovtBid | |
| Corbin, KY 40701 | Foreclosure Sale | ||
| 35 Smith St. | 2/1 | $68,275.00 – GovtBid | |
| Monticello, KY 426338366 | Foreclosure Sale | ||
| 255 Meadow Grove Road | 3/1 | $26,800.00 – GovtBid | |
| Pine Knot, KY 42635 | Foreclosure Sale | ||
| 182 Honeysuckle Lane | 3/1 | $15,410.00 – GovtBid | |
| Mt. Vernon, KY 40456 | Foreclosure Sale | ||
| 230 Grantland Drive | 3/1 | $42,880.00 – GovtBid | |
| Dry Ridge, KY 41035 | Foreclosure Sale |
Joel Lobb
Senior Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
10602 Timberwood Circle, Suite 3
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
Kentucky USDA Rural Housing Guidelines for Home Insurance Deductibles and POA’S for 2017
USDA REVISIONS TO HB-1-3555
THE REASONS BELOW ARE THE ONLY ACCEPTABLE TIMES A POWER OF ATTORNEY WILL BE ALLOWED. BORROWER UNAVAILABILITY OR FOR CONVENIENCE WILL NO LONGER BE AN ACCEPTABLE REASON TO USE A POWER OF ATTORNEY ON KENTUCKY USDA LOANS FOR THE 502 GUARANTEE LOAN PROGRAM
Use of a Power of Attorney (POA):
A Power of Attorney (POA) may only be used when the Mortgagee verifies and documents that all of the following requirements have been satisfied:
- For military personnel, a POA may only be used for one of the applications (initial or final), but not both:
- when the service member is on overseas duty or on an unaccompanied tour;
- when the Mortgagee is unable to obtain the absent Borrower’s signature on the application by mail or via fax;
And
- where the attorney-in-fact has specific authority to encumber the Property and to obligate the Borrower. Acceptable evidence includes a durable POA specifically designed to survive incapacity and avoid the need for court proceedings.
- For incapacitated Borrowers, a POA may only be used where:
- a Borrower is incapacitated and unable to sign the mortgage application;
- the incapacitated individual will occupy the Property to be insured;
And
- the attorney-in-fact has specific authority to encumber the Property and to obligate the Borrower. Acceptable evidence includes a durable POA specifically designed to survive incapacity and avoid the need for court proceedings.
Hazard Insurance Maximum Deductible:
On Kentucky USDA Rural Housing Loans effective now, they have clarified that the maximum deductible may not exceed the greater of $1,000 or 1% of the face amount of the policy similar to the policy for flood insurance deductibles.
MRB Special Funding Program
KHC has $5 million available at 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting today, Wednesday, March 8, 2017, with new reservations. This program is targeted to:
- Households whose gross annual income does not exceed $40,000.
- An existing or new construction property (purchase price limit $130,000) in a county not receiving HHF DAP funds*.
- 640 minimum credit score.
- FHA, VA, or RHS first mortgage options.
- Households who meet one of the following criteria:
- At least one of the home buyers is age 62 or older.
- At least one member of the household is disabled and receiving disability income.
- A single-or two parent household with at least one dependent child under the age of 18 living in the household.
Joel Lobb (NMLS#57916)
Senior Loan Officer
Senior Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
Text/call 502-905-3708
kentuckyloan@gmail.com
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916 http://www.nmlsconsumeraccess.org/
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.
Kentucky USDA Mortgage Lender for Rural Housing Loans 