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Changes for USDA rural development housing loans – kentucky rhs loan


Changes for USDA rural development housing loans – Kentucky rhs loan

Rural Development may continue to process applications on hand received prior to the time an area has been determined to be not “rural”. Complete Single Family Home Direct and Guaranteed loan applications submitted on or before Sept. 30, 2013, will not be subject to the new rural area designations, providing the application is complete. Applications received by close of business on Sept. 30, and processed on/after Oct. 1, will be subject to the newly designated rural areas if the application is incomplete.

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How You Qualify For A Good Mortgage Rate!


http://kentuckyfirsttimehomebuyer.com/

Matt Hutson's avatarMatt Hutson Mortgage News

You see advertisements for those historically-low mortgage interest rates everywhere. So naturally, you figure it’s time to refinance or apply for a new mortgage. But once your application is accepted, you realize your interest rate is one – or even two – percentage points higher than the national average. What happened?

In a nutshell, the lender thought you were a risk. That’s because one way to look at your mortgage interest rate is that it’s a representation of how much of a risk a lender believes you to be: the higher the risk, the higher the cost of borrowing the money.

The natural next question is: What makes for a low-risk mortgage applicant? Well, we spoke to some experts to find out. So read on to see what it takes to qualify for those super-low mortgage interest rates.

Criteria #1: Credit Score of 740 and above

When a lender is…

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Pre-Approval Do’s & Don’ts


Pre-Approval Do’s & Don’ts.

via Pre-Approval Do’s & Don’ts.

Why You Can’t Get a Louisville Kentucky FHA, VA, KHC, USDA, Rural Housing and Fannie Mae Home Loan


Why You Can’t Get a Louisville Kentucky FHA, VA, KHC, USDA, Rural Housing and Fannie Mae Home Loan.

via Why You Can’t Get a Louisville Kentucky FHA, VA, KHC, USDA, Rural Housing and Fannie Mae Home Loan.

USDA area changes delayed again!!!


UPDATE – Congress has passed temporary Continued Resolution meaning that changes to USDA Rural Housing eligible areas has been delayed until mid December.
What does this mean for PrimeLending and USDA Rural Housing?

USDA Rural Housing will continue to issue Conditional Commitments for loan transactions located in possible affected areas that are subject to change.

Because Congress passed Continued Resolution until mid December the USDA property eligibility changes have been “delayed” until that time. As for the conditional commitments between now and then they will be honored. We are anticipating that USDA Rural Housing will release further direction regarding exact dates and requirements for USDA Rural Housing property eligibility on or before mid December.

PrimeLending at this time does not have a required date of when Conditional Commitments must be received. In other words it is “business as usual” for USDA transactions, until further information is provided.