To determine if a specific Kentucky property or area is eligible for USDA financing, click Kentucky USDA Rural Housing Map Below:
Kentucky USDA Rural Housing Eligibility Map for 2019
- Kentucky Mortgage Usda Loan Zero Down Home Loans Still Exist (kentuckyusdaloan.com)Kentucky Fannie Mae HomePath Mortgage Loan (louisvillemortgageguide.com)
- New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities (kentuckyusdaloan.com)
- Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program (kentuckyusdaloan.com)
- Kentucky VA Lenders Guidelines for 2013 (kentuckyvaloan.com)
- HAC News: September 26, 2012 – Housing Assistance Council (kentuckyusdaloan.com)
- JPMorgan’s Eligible Gold Plummets 65% In 24 Hours To All Time Low (financialsurvivalnetwork.com)
- New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities Bardstown,Burlington,Elizabethtown,Georgetown,Independence,Nicholasville,Shelbyville,Shepherdsville (mylouisvillekentuckymortgage.com)
- Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program (mylouisvillekentuckymortgage.com)
- Kentucky USDA Guaranteed loans applicant’s household income cannot exceed adjusted annual income limits (kentuckyusdaloan.com)
- USDA loan are only available in certain counties of Kentucky.
- There are two types of USDA loans available: Direct and Guaranteed.
- 100% financing. No down payment
- USDA will go down to 580 score and uses and automated underwriting pre-approval system called GUS-Guarantee Underwriting System. The GUS findings will dictate your loan pre-approval.
- Income limits based on county and number of people in household.
- Must be 3 years removed from bankruptcy and foreclosure
- No purchase price limit
- Upfront funding fee of 1% of loan amount paid to RD at closing
- Annual mi fee of .35% paid each month for life of loan.
- Takes on average 30-45 days to close.
- 30 year fixed rate is the only term available and rates are usually comparable to FHA and VA government mortgage insured rates.
- Do not have to be a first time home buyer and can currently own another home if USDA deems the current living situation not suitable.
- Appraisal has to meet FHA minimum standards
- You can buy a home with land on USDA Loans as long as the property does not have any agricultural characteristics or income producing capabilities.
- There is no set max acreage but the appraisal will dictate approval of property by USDA.
- You can only use USDA loans to purchase property or refinance an existing USDA loan
Senior Loan Officer