Kentucky USDA Mortgage Lender for Rural Housing Loans
I am a Kentucky based USDA Mortgage Lender that has originated over 200 KY Rural Housing Mortgage Loans in Kentucky, Put my expert advice to use. Kentucky Rural Development RHS loans give KY Rural Homebuyers a zero down mortgage loan with a low 30 year fixed rate loan. A Local Kentucky Rural Housing Mortgage Lender offering same day free approvals and credit report. This website is not affiliated with USDA or any other government agency. NMLS#57916 Equal Housing Lender Text or call today 502-905-3708 with your mortgage questions about USDA Rural Housing Loans in Kentucky. Free Pre-Approvals on most applications within the same day. Kentuckyloan@gmail.com NMLS# 57916 Joel Lobb Loan Originator, American Mortgage Solutions NMLS ID. 1364 Equal Housing Lender
| *Upfront guarantee fee will change from 2.75% to 1.0% Annual fee will change from 0.50% to 0.35% |
Kentucky USDA Loans are not just for small farm communities, but rather they can help many lower-income individuals or households purchase homes in many small cities, towns and townships!
With USDA Housing Programs, 3.4 Million Rural Homebuyers Own Their Future.
RHS Guarantee Fee Change
Beginning October 1st, RHS Guarantee fees will be changing as indicated in the following table:
Up-Front Guarantee Fee FY 2012 Through 9/30/2012 FY 2013 Effective 10/01/ 2012
Purchase Transactions (no change)
2%
2% Refinance Transactions 1.5% 2%
Annual Fee FY 2012 Through 9/30/2012 FY 2013 Effective 10/01/2012
Purchase Transactions
.30%
.40% Refinance Transactions .30% .40%
This is effective for all RHS loans which receive conditional commitments on or after October 1st, 2012 regardless of when the loan was submitted.
Groups Oppose Rural Development Cuts.
Chairman of the House Appropriations Committee, Rep. Hal Rogers (R-KY), have voiced similar concerns about the president’s budget. At a committee hearing earlier this month, Rogers claimed the proposed reductions demonstrate USDA’s “lack of respect for our rural communities and the constituents who have made these programs successful.”
Rogers cited NRHC members Kentucky Highlands Investment Corporation, Frontier Housing and the Federation of Appalachian Housing Enterprises (FAHE) as effective and successful organizations that have used USDA’s Self-Help Housing and Section 502 Direct Loan programs to help low-income, working families become homeowners.
Chairman Rogers voiced concern about how the president’s proposed cuts would affect families who benefit from these programs. For example, Rogers highlighted the story of a woman who had been the victim of extreme domestic abuse who called Kentucky Highlands hoping to find a home for herself and her young daughter. With some financial counseling and guidance from Kentucky Highlands, she was approved for a $66,000 Section 502 Direct Loan. And with the Self-Help Housing program, she was able to build her own home for about $35,000 less than it would have cost to hire a contractor. That means that today, she is living in a home that she can afford that she built with her own hands.
USDA has reported that this program has helped the agency save $1.5 million to date. “Because of this demonstration program, one of my constituents and his family were able to secure a 502 Direct Loan in half the time it normally takes for USDA to process the loans themselves. And because of that loan, he now lives in a new, energy-efficient, green home in Rowan County (Kentucky),” commented Rogers.
Section 502 Direct Homeownership Loans provide fixed-rate mortgages – with up to 38-year terms and subsidized interest rates as low as just one percent – to help low-income rural families gain access to clean, decent and affordable housing.
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Bullitt County Kentucky USDA Home Loan and Rural Housing Loans for Bullitt County KY.
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Kentucky USDA Mortgage Lender for Rural Housing Loans 