USDA Loans in Kentucky 

USDA Income Limits 2020 Help More Buy With No Down Payment USDA income limits 2020 increase allows more home buyers purchase a home with no down payment. Effective May 2020 through April 30, 2021, USDA guaranteed housing base income limits are as follows: $90,300 for 1 – 4 person households and a whopping $119,200 for 5 or more person households. Guys, that is not low income! So, we are talking about a majority of American households meeting this income limit. Therefore, first time buyers or repeat buyers have the ability to use an amazing product to purchase a home without down payment.

New Income limits for most counties (*) in Kentucky are $90,300 for a household family of four and household families of five or more  can make up to  $119,200.

With the new changes for 2020 USDA Income limits, the Jefferson County Louisville, KY Metro area (**) saw an increase of $90,300 for a family of four and up to $119,200 for a family of five or more. The metro area surrounding counties of Jefferson County includes Oldham, Bullitt, Spencer are included in these higher income limits for USDA loans.
Remember,  the entire  Jefferson County and Fayette County  Kentucky counties are not eligible for USDA loans. Along with parts of the following counties Daviess (Owensboro), Mccracken (Paducah), Madison County, (Richmond), Clark County (Winchester), Warren (Bowling Green), Hardin (Fort Knox and Radcliff), Bullitt(Hillview, Maryville, Zoneton, Fairdale, Brooks), Franklin, (Frankfort), Henderson (Henderson City Limits), Christian County (Hopkinsville, Fort Campbell), Boyd County (Ashland city limits) and the most Northern Parts of Boone, Kenton, Campbell Counties of Northern Kentucky (Covington, Florence, Richwood, Hebron, Ludlow, Fort Thomas, Bellevue, Ryle, Beechwood, )
The Northern Kentucky Counties (***) of Boon, Kenton, Campbell, Brackenn, Gallatin, and Pendleton are $99,250 for a household of four or less and up to $131,000 for a family of five or more.
USDA Eligible Areas in Northern Kentucky
Burlington
Hebron
Independence
Walton
Alexandria
Highland Heights
Cold Springs
Grant County
Owen County
Pendleton County
USDA Income Limits
Boone, Kenton & Campbell Counties (N. KY)

$99,250  (family size 1-4)
$131,000 (family size 5 or more)
Grant, Owen & Pendleton Counties (N. KY)

$90,300 (family size 1-4)
$119,250 (family size 5 or more)



Most are familiar with USDA Rural Housing Loan Program  being a great no money down program available and it is not just for Kentucky first time buyers.

 

 

 

 

 

 

What is KY USDA Rural Development Guarantee in Kentucky?

Kentucky USDA Rural Development Guarantee USDA loans offer 100% financing options on home purchases in rural areas.  Properties though can be located within city limits and in subdivisions depending on population density of that area.
The RDG loan program is primarily used to help low to moderate income individuals or households to purchase homes and the applicants need to be within 115% of the median income for the area. Most Kentucky Counties are 90,300  for a household family incomes of four or less, and up to $119,200 for a family of five or more in the household income
Some highlights of the are:
  • 100% financing on purchases and 100%  Zero Money Down
  • Low 30 year fixed rates on all loans. They don’t offer any other terms or offer cash-out refinancing.
  • A small Rural Housing monthly guarantee fee or sometimes called annual fee of .35% of the loan amount divide by 12 months to get total monthly mi payment.
  • Upfront Rural Housing funding fee of 1% of the loan amount and is financed into new loan
  • Minimum credit scores of 581, but helpful to have 640 and get an automated underwriting approval thru Rural Housing’s underwriting engine – GUS–GUS stands for the Guaranteed Underwriting System to pre-approval all Kentucky USDA loans.
  • No rental verification needed with GUS approval if Approved Eligible Findings.
  • Flexible trade line requirements with GUS approval with only 1 trade line needed on credit for 12 months
  • No foreclosures in the last 36 months, but need explanation if < 36 months
  • Bankruptcy discharged at least 36 months
For a Kentucky USDA Rural Housing  property and income eligibility searchplease click HERE.

Issues to avoid or be aware of with Rural Housing property search:

  • Avoid homes in flood zones – RD is very restrictive for homes in flood zones
  • Avoid homes with cisterns – they are extremely difficult to get financed
  • Be aware that homes with wells and septic systems needed extra tests for contamination
  • Avoid homes with any income producing activities such as working farms, detached buildings with offices or car lifts for auto repairs, or anything else related to income producing activities.

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Kentucky FHA Home loan programs for people with bad credit

Lowers Minimum Credit Score Requirement on Kentucky FHA Loans
Kentucky FHA Home loan programs for people with bad credit

Louisville Kentucky Mortgage Loans

via Kentucky FHA Home loan programs for people with bad credit

Lowers Minimum Credit Score Requirement on Kentucky FHA Loans

Kentucky FHA Home loan programs for people with bad credit

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What Is The Mortgage Insurance Premium On A Kentucky Rural Housing USDA Loan?

When does PMI stop on Kentucky Rural Housing USDA Loans?

How Can I Get Rid of Mortgage Insurance for a Rural Housing Loan In Kentucky?

USDA’s Mortgage insurance is for the life of the loan

Mortgage insurance advantages & strategies for lower down payment and payment USDA has an annual fee which is similar to private monthly mortgage insurance premiums and an upfront guarantee fee paid to USDA at closing that is currently equal to 1% of the loan amount.

The annual fee is recalculated each year based on the new balance of the mortgage. The annual fee is currently only .35 which began October 1, 2016.

The annual fee percentage on USDA loans stays for the entire 30 year term but because it is based on the annual mortgage balance. Therefore, the dollar amount decreases each year.

How to calculate monthly mortgage insurance  for Kentucky USDA loans:

Take Loan amount x 1.0101% (USDA funding fee) x .0035 / 12 = monthly
fee to include in the monthly mortgage payment.

So on a $100,000 sales price, going no money down, this would yield a total loan amount of $101,000 with a monthly mortgage insurance premium of $29.45 a month.

This is very cheap mortgage insurance when compared to an Kentucky FHA loan. 

 

USDA Loan Payment Calculator: Calculate Loan Guarantee Eligibility ...

Kentucky USDA Mortgage Loans Affected by COVID-19

Kentucky Rural Housing USDA Implements Immediate Measures to Help Rural Housing Loan Program  Affected by COVID-19

WASHINGTON, April 1, 2020 – USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep our customers, partners, and stakeholders continuously updated as more actions are taken to better serve rural America.

* Visit www.rd.usda.gov/coronavirus for information on Rural Development loan payment assistance, application deadline extensions, and more.

OPPORTUNITIES FOR IMMEDIATE RELIEF

Rural Development Guaranteed Loan Programs

Effective immediately until September 30, 2020, lenders may offer 180-day loan payment deferrals without prior agency approval for Business and Industry Loan Guarantees, Rural Energy for America Program Loan Guarantees, Community Facilities Loan Guarantees, and Water and Waste Disposal Loan Guarantees. For additional information, see page 17721 of the March 31, 2020, Federal Register.

Rural Housing Service

Single-Family Housing

Effective March 19, borrowers with USDA single-family housing Direct and Guaranteed loans are subject to a moratorium on foreclosure and eviction for a period of 60 days. This action applies to the initiation of foreclosures and evictions and to the completion of foreclosures and evictions in process.

Direct Loan Program:

• USDA has waived or relaxed certain parts of the application process for Single-Family Housing Direct Loans, including site assessments, and has extended the time period that certificates of eligibility are valid.

• A Direct Loan borrower who is experiencing a reduction of income by more than 10 percent can request a Payment Assistance package to see if he/she is eligible for payment assistance or for more assistance than currently received.

• Moratorium Assistance is available for Direct Loan borrowers experiencing medical bill expenses (not covered by insurance) or job loss because of COVID-19. Qualifying borrowers can receive a moratorium on house payments for a period of time, repaid at a later date.

• Direct Loan questions should be directed to USDA’s Customer Service Center at 800-414-1226 (7:00 a.m.-5:00 p.m. Eastern Time Monday-Friday) or https://www.rd.usda.gov/contact-us/loan-servicing. Call volume and wait times are high at this time.

Guaranteed Loan Program:

• Guaranteed Loan borrowers who are in default or facing imminent default due to a documented hardship can have payments reduced or suspended by their lender for a period not to exceed 12 months delinquency. Once the hardship is resolved, the lender can modify the loan to cure the delinquency or make up the missed payments based on the borrower’s individual circumstances.

•*USDA is granting lenders temporary exceptions pertaining to appraisals, repair inspections and income verification for the Single-Family Housing Guaranteed Loan Program (SFHGLP) due to theCOVID-19 pandemic. Effective immediately, the following exception sto Agency guidance found atHB-1-3555 are in effect for a period of 60-days.

*Residential Appraisal Reports–Existing DwellingFor purchase and non-streamlined refinance transactions, when an appraiser is unable to complete an interior inspection of an existing dwelling due to concerns associated with the COVID-19 pandemic, an “Exterior-Only Inspection Residential Appraisal Report”, (FHLMC 2055/FNMA 2055) will be accepted. In such cases, appraisers are not required to certify that the property meets HUD HB 4000.1 standards. The appraisal must be completed in accordance with the Uniform Standards of Professional Practice (USPAP) and the Uniform Appraisal Dataset (UAD).This exception is not applicable to new construction properties or construction-to-permanent loans. As a reminder, appraisals are not required for streamlined and streamlined-assist refinance transactions.

*Repair Inspections–Existing Dwelling: For loans for which a completion certification is not available due to issues related to the COVID-19 pandemic, a letter signed by the borrower confirming that the work was completed is permitted. Lenders must also provide further evidence of completion, which may include photographs of the completed work, paid invoices indicating completion, occupancy permits or other substantially similar documentation. All completion documentation must be retained in the loan file. This exception is not applicable to rehabilitation and repair loans noted in section 12.28 of HB-1-3555.

*Verbal Verification of Employment: Lenders must document and verify the borrower’s annual and repayment income in accordance with Agency regulations. Lenders should use due diligence in obtaining the most recent income documentation to re-verify the borrower’s repayment ability prior to closing. When the lender is unable to obtain a Verbal Verification of Employment(VVOE)within 10 business days of loan closing due to a temporary closure of the borrower’s employment, alternatives should be explored. For example, email correspondence with the borrower’s employer is an acceptable alternative to a VVOE. If the lender is unable to obtain a VVOE or acceptable alternative, the requirement will be waived when the borrower has a minimum of two months cash reserves. In the case of a reduction of income, the borrower’s reduced income must be sufficient to support the new loan payment and other non-housing obligations. Borrowers with no income at the time of closing are not eligible for SFHGLP loans regardless of available cash reserves.

Kentucky FHA Mortgage Loans Impacted by COVID-19

Kentucky USDA Mortgage Changes with Coronavirus and Covid-19

USDA Temporary Exceptions for Appraisals, VVOEs, and transcripts

USDA’s temporary flexibilities for appraisals and VVOEs. This flexibilities are effective through conditional commitments issued on or before May 26, 2020.

For purchase and non-streamlined refinance transactions, when an appraiser is unable to complete an interior inspection of an existing dwelling due to concerns associated with the COVID-19 pandemic, an “Exterior-Only Inspection Residential Appraisal Report”, (FHLMC 2055/FNMA 2055) will be accepted. In such cases, appraisers are not required to certify that the property meets HUD HB 4000.1 standards. The appraisal must be completed in accordance with the Uniform Standards of Professional Practice (USPAP) and the Uniform Appraisal Dataset (UAD).

New construction and construction to perm transactions continue to require a full appraisal.

USDA will accept one of the following:

An email meeting the following requirements:
from the borrower’s direct supervisor/manager or the employer’s HR department, and
from the employer’s email address, such as name@company.com, and
contain all the standard information required on a verbal verification of employment, including the name, title, and phone number of the person providing the verification.
An additional two months of cash reserves (PITIA) in addition to any other required funds for reserves and closing.

USDA requires tax transcripts
to ensure all income is considered for purposes of annual income calculation. USDA guidelines HB-1-3555 9.3 (E) 4 allows for loans to be closed without tax transcripts when the loan file contains evidence that transcripts were unable to be obtained. A response from the vendor may be acceptable to meet these requirements.

Louisville Kentucky Mortgage Loans

via Kentucky FHA Mortgage Loans Impacted by COVID-19

COVID-19 Questions and Answers
Last revised: March 27, 2020
Q1. What is FHA’s Office of Single Family Housing doing to prepare for possible disruptions in its business operations should the Coronavirus (COVID-19) warrant office closures?
A1. All of FHA, including Single Family, is prepared to operate remotely to ensure our business operations continue with as little disruption as possible in the event of office closures.
Q2. Is FHA continuing to endorse loans?
A2. Insurance endorsements for all FHA Title I loans and Title II forward and reverse mortgages continues; however, there may be processing delays if staff is working remotely.
Q3. Is the FHA Resource Center continuing normal operations?
A3. Yes. However, if the Homeownership Centers (HOCs) are closed there will not be FHA staff members available to receive escalated calls. If this occurs, we recommend that stakeholders email their questions to…

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Rural Housing Requirements For USDA Loans In Kentucky

Kentucky Rural  Housing Loans

 

Kentucky USDA loans are mortgages made by lenders and guaranteed by the U.S. Department of Agriculture. They are available to moderate- and low-income borrowers to build, rehabilitate, improve or relocate a primary residence in eligible rural and suburban areas. The income limit is 115 percent of the median income in your area. You can check the income limits for your area here.

 

It can be closed with zero down. USDA loans do have a monthly insurance requirement, but the upfront fee is significantly lower than on the VA loan and the mortgage premiums are lower than on the FHA loan.

The problem is that the number of buyers who qualify for a USDA loan is much smaller. Unlike on other loans where more income is better, a USDA loan has strict income maximums.

Fees for Kentucky USDA Loans

USDA loan borrowers pay an upfront fee of 1 percent of the loan amount, and this fee can be added to the loan balance. Borrowers also pay a mortgage insurance premium of 0.35 percent of the loan balance per year in 12 equal installments. This fee is based on the current balance and added to the monthly payment.

 

Down Payment Requirements for Kentucky USDA Loans

 

USDA loans are available with up to 100 percent financing (zero down).

 

Credit Score Required for Kentucky Rural Housing Loans

 

There is no minimum credit score for a USDA loan, but you are automatically ineligible if you are presently delinquent on a nontax federal debt.

Automated approval is available if you have two tradelines reported on your credit history and acredit score of 640 or higher.

If you do not have sufficient credit data, the underwriter can assess your creditworthiness other ways, such as by examining your history with rent payments. Applicants with a credit score lower than 640 will undergo additional underwriting steps.

 

Loan Limits for Kentucky USDA Loans

 

They are no loan limits for Kentucky USDA loans backed-up the guarantee loan program. The Direct USDA loan program does have loan limits.

 
 
 
 



 
Joel Lobb (NMLS#57916)
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


If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.
 
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#57916http://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.
 
 

Lending 101: FHA Loans In Kentucky

Lending 101: FHA Loans In Kentucky
Kentucky FHA loans are great loan program that is not just for first-time buyers!
Here are some of our favorite features of Kentucky FHA loans:

Low down payment – FHA requires 3.5 % down. For qualified buyers, this money may be able to be gifted from a family member.
No income limits – There are no income limits placed on the borrower or the household.
Credit scores – Interest rates and underwriting requirements are less credit score sensitive than other loan programs. In some scenarios, we are able to lend to buyers with scores in the mid-500s. *Note: Credit scores under 580 will require a 10% down payment.
Manufactured homes – No problem with FHA! Manufactured homes must be on a permanent foundation and have been built after June 1976.
Rehab loans – Utilizing the FHA 203K program, we can do purchase and refinance loans that roll the cost of rehabs or repairs into the loan amount.
No geographic restrictions – FHA loans can be done anywhere,
Generous Debt-to-Income Ratios – For most buyers, FHA allows for a higher debt load than other programs. FHA may be the only program for some borrowers with high credit card and/or student loan debt.
Non-Occupant Co-Borrowers – FHA is one of the few programs that allow non-occupant co-borrowers. While a non-occupant co-borrower cannot help in scenarios where a buyer has a low score and cannot qualify on their own, it is a great solution for buyers who have low income or income that can’t be documented.
Want to learn more about FHA loans? Contact any member of our team today, reply to this email, or give us a call at 502-905-3708 and ask to speak to a mortgage loan originator.

Louisville Kentucky Mortgage Loans

Lending 101: FHA Loans In Kentucky

Kentucky FHA loans are great loan program that is not just for first-time buyers!Here are some of our favorite features of Kentucky FHA loans:

  1. Low down payment – FHA requires 3.5 % down. For qualified buyers, this money may be able to be gifted from a family member.
  2. No income limits – There are no income limits placed on the borrower or the household.
  3. Credit scores – Interest rates and underwriting requirements are less credit score sensitive than other loan programs. In some scenarios, we are able to lend to buyers with scores in the mid-500s. *Note: Credit scores under 580 will require a 10% down payment.
  4. Manufactured homes – No problem with FHA! Manufactured homes must be on a permanent foundation and have been built after June 1976.
  5. Rehab loans – Utilizing the FHA 203K program, we can do purchase and refinance loans that roll the cost of rehabs or repairs…

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Kentucky Direct Single Family Housing Program

Loan Limit Change – Effective January 31, 2020

Homes financed under the program are generally 2,000 square feet or less.
Area Loan Limits
Single Family Housing Direct

The Direct Home Loan Program assists low- and very-low- income applicants obtain decent, safe, and sanitary housing in eligible rural areas.  Funds can be used to purchase, build, repair, or renovate a home.  Applicants must meet income eligibility for a direct loan.  Please select South Dakota from the map that displays.

Generally, rural areas with a population less than 35,000 are eligible.  Visit the USDA Income and Property Eligibility website for complete details.

Remember, Direct USDA Loan Limits aren’t effective for the USDA Rural Development Single Family Guartneed Program, whereas that program has no Loan Limits, just income limits on the household income.

 

County or Equivalent Limit Effective 01-31-2020 for the Direct USDA Loan Program

Adair $265,400
Allen $265,400
Anderson $265,400
Ballard $265,400
Barren $265,400
Bath $265,400
Bell $265,400
Boone $265,400
Bourbon $265,400
Boyd $265,400
Boyle $265,400
Bracken $265,400
Breathitt $265,400
Breckinridge $265,400
Bullitt $266,800
Butler $265,400
Caldwell $265,400
Calloway $265,400
Campbell $265,400
Carlisle $265,400
Carroll $265,400
Carter $265,400
Casey $265,400
Christian $265,400
Clark $265,400
Clay $265,400
Clinton $265,400
Crittenden $265,400
Cumberland $265,400
Daviess $265,400
Edmonson $265,400
Elliott $265,400
Estill $265,400
Fleming $265,400
Floyd $265,400
Franklin $265,400
Fulton $265,400
Gallatin $265,400
Garrard $265,400
Grant $265,400
Graves $265,400
Grayson $265,400
Green $265,400
Greenup $265,400

Hancock $265,40
County or Equivalent Limit Effective 01-31-2020
Hardin $265,400
Harlan $265,400
Harrison $265,400
Hart $265,400
Henderson $265,400
Henry $266,800
Hickman $265,400
Hopkins $265,400
Jackson $265,400
Jessamine $265,400
Johnson $265,400
Kenton $265,400
Knott $265,400
Knox $265,400
Larue $265,400
Laurel $265,400
Lawrence $265,400
Lee $265,400
Leslie $265,400
Letcher $265,400
Lewis $265,400
Lincoln $265,400
Livingston $265,400
Logan $265,400
Lyon $265,400
McCracken $265,400
McCreary $265,400
McLean $265,400
Madison $265,400
Magoffin $265,400
Marion $265,400
Marshall $265,400
Martin $265,400
Mason $265,400
Meade $265,400
Menifee $265,400
Mercer $265,400
Metcalfe $265,400
Monroe $265,400
Montgomery $265,400
Morgan $265,400
Muhlenberg $265,400
Nelson $265,400
Nicholas $265,400
Ohio $265,400
Oldham $266,800
Owen $265,400
County or Equivalent Limit Effective 01-31-2020
Owsley $265,400
Pendleton $265,400
Perry $265,400
Pike $265,400
Powell $265,400
Pulaski $265,400
Robertson $265,400
Rockcastle $265,400
Rowan $265,400
Russell $265,400
Scott $265,400
Shelby $266,800
Simpson $265,400
Spencer $266,800
Taylor $265,400
Todd $265,400
Trigg $265,400
Trimble $265,400
Union $265,400
Warren $265,400
Washington $265,400
Wayne $265,400
Webster $265,400
Whitley $265,400
Wolfe $265,400
Woodford $265,400

Kentucky Rural Housing USDA loan program

What are the eligibility requirements for a Kentucky USDA loan?

 

The Kentucky Rural Housing USDA loan program has certain eligibility requirements .

Must be located in a eligible USDA Rural Housing Area.
The home would be your primary residence, not a rental property
Household income requirements beginning around $86,850 for a family of four and up to $115,400 for a family of five or more
Clear Cavirs Numbers.
No minimum credit score requirement but most lenders that offer USDA loans will want a 620 credit score or higher

What are USDA loan fees in Kentucky for 2020?

There are two fees on a USDA loan. An upfront fee, called the Guarantee fee and the monthly annual fee.

The upfront guarantee fee for fiscal year 2020 is 1 percent of the loan amount. This fee can often be rolled into the mortgage, instead of paying it out of pocket. The annual fee for  is .35 percent of the loan amount.

It’s important to check the maximum income limits   for your family size and where you live to get the most accurate data.

 

Advantages of USDA Loans

Zero Down Payment

Low Credit Score Requirements

Can finance closing costs up to appraised value

Streamline refinance an existing USDA with less documentation

No max loan amount

 

Disadvantages  of USDA Loans

only eligible in rural areas

Must be 3 years removed from bankruptcy or foreclosure

Limited to Income Requirements

Debt to income ratios tighter qualifying guidelines than FHA, Fannie Mae

Joel Lobb Mortgage Loan Officer Individual NMLS ID #57916 American Mortgage Solutions, Inc. 10602 Timberwood Circle Louisville, KY 40223 Company NMLS ID #1364 click here for directions to our office Text/call: 502-905-3708 fax: 502-327-9119 email: kentuckyloan@gmail.com https://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

 

Kentucky FHA, VA, USDA, Fannie Mae Loan after a bankruptcy, foreclosure, short-sale,

KENTUCKY MORTGAGE FOR USDA
(Determined by date of credit approval)
3 years from date bankruptcy was completed
Less than 3 years from date bankruptcy was completed*

Louisville Kentucky Mortgage Loans

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?

Getting Approved for a Kentucky FHA, VA, USDA, Fannie Mae Loan after a bankruptcy, foreclosure, short-sale,

Kentucky Mortgage Loan ProgramChapter 7 Bankruptcy
Conventional
(Determined by date of application)
  • 4 years from date bankruptcy was completed
  • 2 years from date bankruptcy was completed*
KENTUCKY FHA MORTGAGE
(Determined by date of credit approval)
  • 2 years from completion date
  • Less than 2 years, but no less than 12 months the date bankruptcy was completed*
KENTUCKY VA MORTGAGE
(Determined by date of credit approval)
  • 2 years from date bankruptcy was completed
  • Between 12-23 months from the date bankruptcy was completed*
KENTUCKY MORTGAGE FOR USDA
(Determined by date of credit approval)
  • 3 years from date bankruptcy was completed
  • Less than 3 years from date bankruptcy was completed*

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