Category: Uncategorized

Bullitt County KY USDA and Rural Housing Mortgages

Kentucky USDA Guaranteed Rural Housing Mortgage Guidelines
In “100% Financing Zero Down”
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!
In “2013 Property Eligibility Changes”
Changes for USDA rural development housing loans – kentucky rhs loan
In “Affordable housing”

Kentucky USDA Rural Housing Mortgage Loans

Image: The current area eligible in Bullitt County Kentucky for USDA and RHS loans consist of the following areas:

Mount Washington KY, 40047

Shepherdsville KY 40165

KY Bullitt County Ineligible Area

 

Bullitt County Ineligible Areas: The areas of Hillview, Brooks, Zoneton, and Hebron, commonly known as North Bullitt Area, are ineligible for Rural Development financing. The Line begins on the West at the Jefferson / Bullitt County line at Holsclaw Hill Road and follows Holsclaw Hill Road. South to Brooks Hill Road. The line continues South-Southeast to intersect with an East West line drawn from Bells Mill Road. At the intersection of Bells Mill Road. and Floyds Fork the line follows Floyds Fork East and then Northeast where it intersects the Bullitt County line .5 mile East of Floyds Fork.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com
ImageKey Financial Mortgage Co. (NMLS #1800)*
107…

View original post 100 more words

Advertisements

What Low Interest Rates Mean to You

GUS, Hurstbourne Kentucky, Kentucky, Kentucky Rural Housing Loans, kentucky va loan, kentucky va mortgage, Loan officer, louisville, Louisville Kentucky, louisville va mortgage, Maximum VA loan limits 2011, Mortgage, Mortgage loan, real estate, Refinancing, Rural Development, United States Department of Agriculture, United States Department of Housing and Urban Development, USDA

christina hammond homes

file7391271797864

Mortgage interest rates are low now and whether you are a buyer or a seller, this is good news!

If you are a buyer:

You will spend thousands less over the life of your home mortgage on a home purchased now versus a time of higher interest rates. If you are shopping for a home and have a down payment ready to go, this is an ideal time to act. Look at one of the online amortization calculators to see how much interest you will save over the life of your mortgage, then talk to a mortgage banker and a real estate agent to take advantage of these historically low interest rates.

If you are a seller:

Your home is more affordable now. You can ask a fair price for your home and buyers will save on the interest rates, making your home a better deal for them. If you…

View original post 76 more words

Kentucky Rural Housing USDA Credit and Income Guidelines for 2018

26733396_1566820890066460_2847847335188379653_nKentucky Rural Housing USDA Credit and Income Guidelines for 2018

  Kentucky Rural Housing USDA Credit and Income Guidelines for 2018

  • No Down Payment required, 100% financing available
  • 30 year fixed rate only no other terms allowed.
  • Not limited to First Time Home buyers! Also available for the move up home buyer.
  • More affordable than FHA when compared to mortgage insurance
  • Seller concession fees at 6%
  • No Bankruptcies last 3 years or foreclosures last 3 years
  • Typical max income household income limits are centered on how many people are going to live in the home and which county you are going to buy a home in. Most Counties in Kentucky are maxed at $80k for a household of four or less, and up to $103k for a household of five or more.
  • Debt to income ratios are usually centered around 45% on the backend ratio, meaning the new house payment plus the monthly bills on the credit report cannot be more than 45% of our total grossqualifying income.
  • There is also a front end ratio, which is the new house payment only divided by the gross monthly income. This can vary anywhere between 20% to 35% I have seen on some borrowers depending on your credit scores and assets.
  • If you have access to 20% down payment, you cannot use the USDA loan program.
  • Only new manufactured homes are allowed for USDA loans and the dealer must be approved contractor with USDA
  • Swimming pools are okay for USDA loans on appraisals.
  • Working farms are not allowed with USDA loan, but there is no acreage limits on
  • USDA loans.
 Kentucky Rural Housing USDA Program 

  • Guarantee Fee applies. May be financed and added to the loan amount
  • Flexible credit guidelines and 620 FICO***Even though USDA states in the guidelines that they will go down to a 580, most lenders will not go below 620 that I work with.
  • Manual underwrites, meaning if you get a refer through the Automated system their is chance you can still get approved.
  • Ratios per GUS Approval–GUS stands for their Automated Underwriting System which lenders use to get borrowers pre-approved. It will review credit, income, and assets along with area, purchase prince amount and determine your loan pre-approval
  • Flipped properties within 90 days of seller acquisition are allowed
  • Household income may not exceed 115% of the area’s median income level*
  • Transferred appraisals are okay, so FHA will work for USDA appraisals.
  USDA Program Features:



You might be surprised to find what properties are located in a USDA tract!To find a qualified property, qualified income, and to access the USDA website, click here [eligibility.sc.egov.usda.gov].





— 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
text or call 502-905-3708 cell
kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/


This web site is not the FHA, VA, USDA, HUD or any other government organization responsible for managing, insuring, regulating or issuing residential mortgage loans.

**Download Fair Housing Booklet – CLICK HERE

All approvals and rates are not guaranteed, and are only issued based on standard mortgage qualifying guidelines



Remember, we are even available this weekend for pre-qualifications or questions.  Call our cell phone or email us.  If you miss us, leave a message and we WILL call you back

http://www.mylouisvillekentuckymortgage.com/

Joel Lobb
Mortgage Loan Officer

Individual NMLS ID #57916

American Mortgage Solutions, Inc.

10602 Timberwood Circle 

Louisville, KY 40223

Company NMLS ID #1364

Text/call:      502-905-3708
email:          kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

WHAT CUSTOMERS ARE SAYING ABOUT ME
Congrats, Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA has a 5 star rating on Google

Stay connected to your customers. Make sure to reply to their reviews and comments.
READ REVIEWS

 

Labels: credit scoresincomemaps for usda eligiblityrhsrural housingswimming pools usdausda credit scoresUSDA Loan Eligible Rural Areas

Kentucky Rural Housing Homes for Sale 2018 Foreclosures USDA

***********Please Do Not Reply To This Message**********
Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 01/24/2018
State Days Old Counties
KY 365 ADAIR, ALLEN, ANDERSON, BALLARD, BARREN, BATH, BELL, BOONE, BOURBON, BOYD, BOYLE, BRACKEN, BREATHITT, BRECKINRIDGE, BULLITT, BUTLER, CALDWELL, CALLOWAY, CAMPBELL, CARLISLE, CARROLL, CARTER, CASEY, CHRISTIAN, CLARK, CLAY, CLINTON, CRITTENDEN, CUMBERLAND, DAVIESS, EDMONSON, ELLIOTT, ESTILL, FAYETTE, FLEMING, FLOYD, FRANKLIN, FULTON, GALLATIN, GARRARD, GRANT, GRAVES, GRAYSON, GREEN, GREENUP, HANCOCK, HARDIN, HARLAN, HARRISON, HART, HENDERSON, HENRY, HICKMAN, HOPKINS, JACKSON, JEFFERSON, JESSAMINE, JOHNSON, KENTON, KNOTT, KNOX, LARUE, LAUREL, LAWRENCE, LEE, LESLIE, LETCHER, LEWIS, LINCOLN, LIVINGSTON, LOGAN, LYON, MADISON, MAGOFFIN, MARION, MARSHALL, MARTIN, MASON, MCCRACKEN, MCCREARY, MCLEAN, MEADE, MENIFEE, MERCER, METCALFE, MONROE, MONTGOMERY, MORGAN, MUHLENBERG, NELSON, NICHOLAS, OHIO, OLDHAM, OWEN, OWSLEY, PENDLETON, PERRY, PIKE, POWELL, PULASKI, ROBERTSON, ROCKCASTLE, ROWAN, RUSSELL, SCOTT, SHELBY, SIMPSON, SPENCER, TAYLOR, TODD, TRIGG, TRIMBLE, UNION, WARREN, WASHINGTON, WAYNE, WEBSTER, WHITLEY, WOLFE, WOODFORD, WOODFORD
To change your preferences, click here.
Address Bed/Bath Price
535 Hillview st 3/1 $35,510.00 – GovtBid
Grayson, KY 411431462 Foreclosure Sale
213 State Route 716 3/2 $50,710.00 – GovtBid
Ashland, KY 41102 Foreclosure Sale
2185 State Highway 1661 3/2 $53,600.00 – GovtBid
grayson, KY 411436823 Foreclosure Sale
240 hugh St 3/2 $24,790.00 – GovtBid
Grayson, KY 411431911 Foreclosure Sale
832 Daniels Drive 3/1 $28,140.00 – GovtBid
Worthington, KY 41183 Foreclosure Sale
175 Blue Jay Circle 4/2 $53,600.00 – GovtBid
Falmouth, KY 41040 Foreclosure Sale
1345 Alton Station Rd 3/1.5 $64,990.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
309 Windham Hill Court 3/2 $40,200.00 – GovtBid
Paris, KY 40361 Foreclosure Sale
235 Fuller Br 3/1 $55,720.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
302 E. St 3/1 $37,455.00 – GovtBid
Mt. Sterling, KY 40353 Foreclosure Sale
101 Maple Street 2/1 $73,885.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
72 Cedar Brook Court 3/1 $35,510.00 – GovtBid
Cynthiana, KY 41301 Foreclosure Sale
503 Sheffield 3/2 $103,080.00 – GovtBid
Woodford, KY 40383 Foreclosure Sale
177 Ramey Rd. 3/1 $44,960.00 – GovtBid
Sharpsburg, KY 40374 Foreclosure Sale
114 Judy Lynn Ct. 3/2 $82,930.00 – GovtBid
Shepherdsville, KY 40165 Foreclosure Sale
300 Skyview Drive 3/1 $79,930.00 – GovtBid
Paris, KY 40361 Foreclosure Sale

Kentucky First Time Home Buyer Loan Programs for FHA, VA, KHC, USDA, RHS, Fannie Mae Home Mortgage Loans in Kentucky for 2018

Address Bed/Bath Price
206 Maysville Road 1/1 $26,800.00 – GovtBid
Scottsville, KY 42164 Foreclosure Sale
23 Hale St. 3/1 $26,800.00 – GovtBid
Stanton, KY 40380 Foreclosure Sale
500 White Oak Rd 3/2 $17,000.00 – GovtBid
Irvine, KY 40336 Foreclosure Sale
148 Falls Lane 3/1 $33,500.00 – GovtBid
Clearfield, KY 40313 Foreclosure Sale
1023 Byrtle Grove Rd 3/1 $63,085.00 – GovtBid
Leitchfield, KY 42754 Foreclosure Sale
3465 Old Gallatin Rd 3/2 $42,950.00 – GovtBid
Scottsville, KY 42164 Foreclosure Sale
1203 S 6th St 4/2 $12,500.00 – GovtBid
Mayfield, KY 42066 Foreclosure Sale
604 Wells Avenue 3/2 $16,750.00 – GovtBid
Fulton, KY 42041 Foreclosure Sale
15077 N. State Highway 7 3/1 $24,120.00 – GovtBid
Grayson, KY 41143 Foreclosure Sale
1905 Stacy Lane Rd 3/1 $16,750.00 – GovtBid
Irvine, KY 40336 Foreclosure Sale
24 Golden Gates Drive 4/2 $47,570.00 – GovtBid
Wingo, KY 42088 Foreclosure Sale
406 Indian Hills Circle 3/1 $34,170.00 –…

View original post 443 more words

HUD Awards $19 Million to Ky. Homeless Programs

HUD Awards $19 Million to Ky. Homeless Programs

Kentucky First Time Home Buyer Loan Programs for FHA, VA, KHC, USDA, RHS, Fannie Mae Home Mortgage Loans in Kentucky for 2018

LOUISVILLE, Ky. (1/12/18) — The U.S. Department of Housing and Urban Development announced $19.38 was awarded Thursday to support 105 homeless housing and service programs in Kentucky.

SurfKY.com is a free local news source highlighting Caldwell, Calloway, Christian, Crittenden, Daviess, Henderson, Hopkins, Livingston, Lyon, Marshall, McCracken, McLean, Muhlenberg, Ohio, Trigg, Wester counties in Kentucky. SurfKY.com is your portal for free local and statewide news, sports, obituaries, and community information.

Source: HUD Awards $19 Million to Ky. Homeless Programs

View original post

Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eligible for Payments

Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eligible for Payments

Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eligible for Payments

Louisville Kentucky Mortgage Loans

via Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eligible for Payments

In Kentucky, 548 borrowers are eligible for a payment:

A total of 300 who lost their property – 66 Kentuckians in 2009; 80 Kentuckians in 2010; 97 Kentuckians in 2011; and 57 Kentuckians in 2012. These Kentuckians will qualify for a minimum $840 payment from the settlement.

A total of 248 whose foreclosures had not been finalized – 28 Kentuckians in 2009; 55 Kentuckians in 2010; 62 Kentuckians in 2011; and 103 Kentuckians in 2012. These Kentuckians will receive a minimum $285 payment.

A settlement administrator on the case will contact Kentuckians eligible for payments.

The settlement requires PHH to adhere to comprehensive mortgage servicing standards, conduct audits and provide audit results to a committee of states.

The settlement does not release PHH from liability for conduct that occurred beginning in 2013.

“As Attorney General, I am committed…

View original post 36 more words

How to boost your credit score for A Mortgage Loan Approval in Kentucky!

USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixed

Kentucky First Time Home Buyer Loan Programs for FHA, VA, KHC, USDA, RHS, Fannie Mae Home Mortgage Loans in Kentucky for 2018

Want to increase your credit score before buying a home? It might be easier than you think. Focus on these 6 steps and watch your score climb.

Source: How to boost your credit score

Pay your bills on time, every time

Your payment history on credit cards, car loans, utilities, etc. is the single biggest factor in your credit score, weighted at about 35 percent. Even a single 30-day-late payment could knock 100 points off your score — and that can really hurt. FICO considers how late you were, how many times, how much was owed, and how recently it happened.

You can’t erase the fact that you were late — that will stay on your credit report for up to seven years – but you can get back on track and move on. The farther slip-ups recede into the past, the less they affect your current score. If your…

View original post 473 more words

USDA Rural Housing Guidelines for Kentucky First Time Home Buyers

100% FINANCING HOME LOAN KY, CREDIT SCORES, KY FIRST TIME HOME BUYER, RHS LOAN KY, RURAL DEVELOPMENT LOAN KY, RURAL HOUSING, USDA, USDA LOAN, ZERO DOWN MORTGAGE KY

Kentucky First Time Home Buyer Loans for 2017

ff7b0-images2b252829252911410013_6029142272675_1825052463_n


• No down payment required and 30 year fixed rate loans only with no prepayment penalty. There are two types of USDA loans offered. Direct and Guaranteed. Direct loans are offered directly by the local USDA office and Guaranteed loans are offers by participating lenders. Some USDA Direct loans have subsidy recuperate fees because the loan interest rate is subsidized based on your annual income.

Louisville/Jefferson County, KY-IN MSA
Louisville, KY-IN HUD Metro FMR Area

STATE:KENTUCKY ——————- A D J U S T E D I N C O M E L I M I T S ——————

1 PERSON 2 PERSON 3 PERSON 4 PERSON 5 PERSON 6 PERSON 7 PERSON 8
VERY LOW INCOME      33500 33500 33500 33500 44200 44200 44200 44200
LOW INCOME                53600 53600 53600 53600 70750 70750 70750 70750
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200…

View original post 671 more words