Tag: rhs kentucky

New Kentucky USDA Rural Housing Income Guidelines for 2017

RHS Income Kentucky Guideline Updates
USDA has published new income limits for Kentucky USDA Rural Housing  borrowers, effective immediately. Those new limits can be found HERE.

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Maximum age for an RHS appraisal has been extended from 120 days to 150 days.

  • Accessory Dwelling units are now addressed in RHS guidelines. They may be allowed based on the appraiser’s evaluation that they represent the highest and best use of the property and are not a separate single family dwelling unit.
  • Additional clarification on site requirements was added to help in the underwriter’s determination as to when outbuildings and/or excess land should be considered income-producing.
It’s  free to get pre-approved for the loan with us and we will supply you a copy of your credit report for free along with a pre-approval letter stating how much you qualify for.
It takes about 30-40 days to close the loan
   USDA Loan Pre-Approval Checklist

 

 
1.  One full month’s or 30 days worth of pay stubs
2.  Last 2 years W-2′s
3.  Last 2 years tax returns
4.  Last two months bank statements for all accounts
 
 
I don’t need originals, copies are fine. You can fax, email the requested documents or meet me face-to-face if you wish.

 Let me know your questions. 

Thanks and look forward to helping you– 
http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 
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

http://www.nmlsconsumeraccess.org/
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#57916 http://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.
 
 

Kentucky USDA Rural Single Family Foreclosed Homes For Sale as of 04/09/2017

 

Kentucky Mortgage Usda Loan Zero Down Home Loans Still Exist

Kentucky USDA Rural Single Family Housing is kentuckyloan@gmail.com as of 04/09/2017
S
Address Bed/Bath Price
871 Palmyra Rd 3/1 $62,310.00 – GovtBid
Bedford, KY 40006 Foreclosure Sale
281 Elkhorn Green Pl 4/2.5 $101,595.00 – GovtBid
Georgetown, KY 40324 Foreclosure Sale
3429 Stevenson Mill Rd 3/2 $40,200.00 – GovtBid
Russellville, KY 42276 Foreclosure Sale
302 9th Street 2/1 $24,100.00 – GovtBid
Carrollton, KY 41008 Foreclosure Sale
3079 Pope Road 4/2 $68,065.00 – GovtBid
Scottville, KY 42164 Foreclosure Sale
302 Circle Dr. 3/1 $30,485.00 – GovtBid
West Liberty, KY 41472 Foreclosure Sale
37 Old High Top Road 3/1 $20,770.00 – GovtBid
Corbin, KY 40701 Foreclosure Sale
71 Apricot Lane 4/2 $62,685.00 – GovtBid
Flemingsburg, KY 41041 Foreclosure Sale
30 Turkey Run Road 3/2 $38,860.00 – GovtBid
Campton, KY 41301 Foreclosure Sale
760 Andrew Mason Rd 2/1 $21,440.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
48 Turner Lane 3/2 $75,180.00 – GovtBid
Monticello, KY 42633 Foreclosure Sale
1026 Raceland Ave 3/1 $18,760.00 – GovtBid
Raceland, KY 41169 Foreclosure Sale
1729 Hillsboro Rd 3/1 $23,450.00 – GovtBid
Flemingsburg, KY 41041 Foreclosure Sale
208 Shannon Court 3/2 $66,605.00 – GovtBid
Winchester, KY 40391 Foreclosure Sale
735Ray Smith Road 3/1 $32,160.00 – GovtBid
Corbin, KY 40701 Foreclosure Sale
35 Smith St. 2/1 $68,275.00 – GovtBid
Monticello, KY 426338366 Foreclosure Sale
255 Meadow Grove Road 3/1 $26,800.00 – GovtBid
Pine Knot, KY 42635 Foreclosure Sale
182 Honeysuckle Lane 3/1 $15,410.00 – GovtBid
Mt. Vernon, KY 40456 Foreclosure Sale
230 Grantland Drive 3/1 $42,880.00 – GovtBid
Dry Ridge, KY 41035 Foreclosure Sale

 

 

Joel Lobb
Senior  Loan Officer

(NMLS#57916)

American Mortgage Solutions, Inc.

10602 Timberwood Circle, Suite 3

Louisville, KY 40223

text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.

All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.

Kentucky USDA Rural Housing Guidelines for Home Insurance Deductibles and POA’S for 2017

USDA REVISIONS TO HB-1-3555
 
THE REASONS BELOW ARE THE ONLY ACCEPTABLE TIMES A POWER OF ATTORNEY WILL BE ALLOWED. BORROWER UNAVAILABILITY OR FOR CONVENIENCE WILL NO LONGER BE AN ACCEPTABLE REASON TO USE A POWER OF ATTORNEY ON KENTUCKY USDA LOANS FOR THE 502 GUARANTEE LOAN PROGRAM
 
Use of a Power of Attorney (POA):
A Power of Attorney (POA) may only be used when the Mortgagee verifies and documents that all of the following requirements have been satisfied:
  • For military personnel, a POA may only be used for one of the applications (initial or final), but not both:
    • when the service member is on overseas duty or on an unaccompanied tour;
    • when the Mortgagee is unable to obtain the absent Borrower’s signature on the application by mail or via fax;

And

    • where the attorney-in-fact has specific authority to encumber the Property and to obligate the Borrower. Acceptable evidence includes a durable POA specifically designed to survive incapacity and avoid the need for court proceedings.
  • For incapacitated Borrowers, a POA may only be used where:
    • a Borrower is incapacitated and unable to sign the mortgage application;
    •  the incapacitated individual will occupy the Property to be insured;

And

    • the attorney-in-fact has specific authority to encumber the Property and to obligate the Borrower. Acceptable evidence includes a durable POA specifically designed to survive incapacity and avoid the need for court proceedings.
Hazard Insurance Maximum Deductible:
On Kentucky USDA Rural Housing Loans effective now, they have clarified that the maximum deductible may not exceed the greater of $1,000 or 1% of the face amount of the policy similar to the policy for flood insurance deductibles.
 MRB Special Funding Program 


KHC has $5 million available at 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting today, Wednesday, March 8, 2017, with new reservations. This program is targeted to:
  • Households whose gross annual income does not exceed $40,000.
  • An existing or new construction property (purchase price limit $130,000) in a county not receiving HHF DAP funds*.
  • 640 minimum credit score.
  • FHA, VA, or RHS first mortgage options.
  • Households who meet one of the following criteria:
    • At least one of the home buyers is age 62 or older.
    • At least one member of the household is disabled and receiving disability income.
    • A single-or two parent household with at least one dependent child under the age of 18 living in the household.


http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 
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

http://www.nmlsconsumeraccess.org/
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#57916 http://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.
 

List of Kentucky USDA Single Family Housing For Sale Feb 2017

 

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Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 02/08/2017

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
T
Address Bed/Bath Price
255 Meadow Grove Road 3/1 $26,800.00 – GovtBid
Pine Knot, KY 42635 Foreclosure Sale
862 Andrew Mason Rd 2/1 $21,440.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
171 Fairview Ave. 3/1 $38,190.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
519 Hickory Hill Dr. 3/1 $63,885.00 – GovtBid
Nicholasville, KY 40356 Foreclosure Sale
417 Creekview Dr 3/1 $26,800.00 – GovtBid
Paris, KY 40361 Foreclosure Sale
10854 Hope Means Rd. 4/2 $62,725.00 – GovtBid
Means, KY 40346 Foreclosure Sale
831 Strawberry Ln 3/1 $37,520.00 – GovtBid
Franklin, KY 42134 Foreclosure Sale
71 Apricot Lane 4/2 $62,685.00 – GovtBid
Flemingsburg, KY 41041 Foreclosure Sale
1781 Highway 490 3/1.5 $16,080.00 – GovtBid
East Bernstadt, KY 40729 Foreclosure Sale
403 Greenview Drive 3/1 $42,210.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
452 Silverhawk Rd. 3/1 $22,110.00 – GovtBid
Olive Hill, KY 41164 Foreclosure Sale
21 N Carolina Ave 3/2 $47,235.00 – GovtBid
Morehead, KY 40351 Foreclosure Sale
85 Fanning Lane 3/2 $53,970.00 – GovtBid
Salt Lick, KY 40371 Foreclosure Sale
5052 Paddock Loop 3/2 $98,450.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
502 Mallard Park 3/1.5 $83,060.00 – GovtBid
Versailles, KY 40383 Foreclosure Sale
832 Old Whitley Rd. 2/1 $52,260.00 – GovtBid
London, KY 40744 Foreclosure Sale
129 Nipper Dr. 3/1 $16,080.00 – GovtBid
Ezel, KY 41425 Foreclosure Sale
808 Daniels Dr. 3/1 $28,140.00 – GovtBid
Worthington, KY 41183 Foreclosure Sale
208 Shannon Court 3/2 $66,605.00 – GovtBid
Winchester, KY 40391 Foreclosure Sale
2319 Redbud Lane 3/1 $43,550.00 – GovtBid
Paris, KY 40361 Foreclosure Sale
 Home-SPECS-USDA-rev
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Kentucky USDA Rural Housing Foreclosure Sale for 2017

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Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 01/06/2017
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
Address Bed/Bath Price
171 Fairview Ave. 3/1 $38,190.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
519 Hickory Hill Dr. 3/1 $63,885.00 – GovtBid
Nicholasville, KY 40356 Foreclosure Sale
417 Creekview Dr 3/1 $26,800.00 – GovtBid
Paris, KY 40361 Foreclosure Sale
65 Bon Jan Lane 3/1 $51,590.00 – GovtBid
Highland Heights, KY 41076 Foreclosure Sale
1254 Baker Branch Rd 2/1 $60,195.00 – GovtBid
Tutor Key, KY 41263 Foreclosure Sale
510 Harrison Hollow Rd 3/1 $16,750.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale


The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people

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USDA Single Family Housing Homes for Sale in Kentucky Currently

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Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 12/06/2016
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

 

Kentucky
8 Properties
BOYD County
picture of property
7234 Nekirk Rd. 3/1 $25,460.00
Ashland,KY 41102
View Property Details Foreclosure Sale
CAMPBELL County
picture of property
65 Bon Jan Lane 3/1 $51,590.00
Highland Heights,KY 41076
View Property Details Foreclosure Sale
FRANKLIN County
picture of property
2 Pebble Court 3/1 $30,820.00
Frankfort,KY 40601
View Property Details Foreclosure Sale
FULTON County
picture of property
171 State Route 1461 3/2 $24,790.00
Fulton,KY 42041
View Property Details Foreclosure Sale
OWEN County
picture of property
275 Highway 227 N 3/1 $42,210.00
New Liberty,KY 40355
View Property Details Foreclosure Sale
picture of property
204 N. Madison St. 2/1 $26,800.00
Owenton,KY 40359
View Property Details Foreclosure Sale
SHELBY County
picture of property
1721 Village Lane 3/1 $23,450.00
Shelbyville,KY 40065
View Property Details Foreclosure Sale
picture of property
125 Gloria Dr. 3/1 $36,850.00
Shelbyville,KY 400658910
View Property Details Foreclosure Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To change your preferences, click here.
Address Bed/Bath Price
65 Bon Jan Lane 3/1 $51,590.00 – GovtBid
Highland Heights, KY 41076 Foreclosure Sale
7234 Nekirk Rd. 3/1 $25,460.00 – GovtBid
Ashland, KY 41102 Foreclosure Sale
275 Highway 227 N 3/1 $42,210.00 – GovtBid
New Liberty, KY 40355 Foreclosure Sale
1721 Village Lane 3/1 $23,450.00 – GovtBid
Shelbyville, KY 40065 Foreclosure Sale
415 Grassy Knoll Rd. 2/2 $28,140.00 – GovtBid
Flemingsburg, KY 41041 Foreclosure Sale
171 State Route 1461 3/2 $24,790.00 – GovtBid
Fulton, KY 42041 Foreclosure Sale
204 N. Madison St. 2/1 $26,800.00 – GovtBid
Owenton, KY 40359 Foreclosure Sale
125 Gloria Dr. 3/1 $36,850.00 – GovtBid
Shelbyville, KY 400658910 Foreclosure Sale
2 Pebble Court 3/1 $30,820.00 – GovtBid
Frankfort, KY 40601 Foreclosure Sale
If you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.


The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people
 

Kentucky USDA Foreclosed Homes List 2016 for Sale by Rural Development Rural Housing

USDA Single Family Housing is kentuckyloan@gmail.com as of 10/06/2016
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
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
164 Hart Road 3/1 $31,490.00 – GovtBid
Corbin, KY 40701 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
104 Brooks Road 3/2 $86,050.00 – GovtBid
Richmond, KY 40475 Foreclosure Sale
1023 Byrtle Grove Rd 3/1 $63,085.00 – GovtBid
Leitchfield, KY 42754 Foreclosure Sale
201 Brooks Rd 3/1 $30,150.00 – GovtBid
Richmond, KY 40475 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 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
91 Roxanne St 3/1 $18,760.00 – GovtBid
Clearfield, KY 403139771 Foreclosure Sale
177 Crawford Rd 3/1 $30,820.00 – GovtBid
Clearfield, KY 403139648 Foreclosure Sale
2201 Brent Drive 3/1 $8,500.00 – GovtBid
Madisonville , KY 42431 Foreclosure Sale
1225 Tim Tam Way 3/2 $64,695.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
381 Dunroven Dr. 4/1.5 $40,200.00 – GovtBid
Versailles, KY 40383 Foreclosure Sale
377 Damron Br. 3/1 $26,130.00 – GovtBid
Grayson, KY 41143 Foreclosure Sale
1304 Winchester Ave 5/2 $57,620.00 – GovtBid
Middlesboro, KY 40965 Foreclosure Sale

 

 

In order to get you pre-approved for your max loan amount, I will need the following items from you. This is a free process and I will give you a copy of your credit report for free!

 

 Mortgage Pre-Approval Checklist:

  1. One full month’s or 30 days worth of pay stubs
  2. Last 2 years W-2′s
  3. Last 2 years tax returns
    4.  Last two months bank statements for all accounts including 401 k or retirement account  if you have one


_______________________________________________

 


if you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.



The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people

 

http://www.mylouisvillekentuckymortgage.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Can you refinance a Kentucky Rural USDA Housing Loan?

You can refinance your existing USDA Rural Housing Loan. See details below:

 

 

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Can you refinance a Rural Housing Loan? The short answer is yes. See below for qualifying criteria

 

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KENTUCKY  USDA LOAN GUARANTEED RURAL HOUSING REFINANCE FEATURES

  • Loan must be secured by the same property as the original loan. The original loan must be Guaranteed Rural Housing (GRH) or USDA Section 502 Direct only. The Program may not be used to refinance FHA, VA, or other government or conventional mortgages.
  • Term of the new loan will be 30 years.
  • Interest rate of the new loan cannot exceed the interest rate of the loan being refinanced. However, the interest rate of the new loan does not have to meet the interest rate requirements established in RD Instruction 1980-D, §1980.320 Interest rate.
  • Property must be owned and occupied by the borrowers as their principal residence.
  • The guarantee fee is 1.00% of the total principal obligation of the new loan.
  • The 1.00% guarantee fee may be always financed into any GRH refinancing transaction. As usual, borrowers may finance other closing costs and fees up to 100% of the current appraised value. However, it is possible for the loan-to-value (LTV) of the new loan to reach 101% if the 1% guarantee fee is financed. Loans may exceed 100% LTV only to the extent that the excess represents a financed guarantee fee of no more than 1.00%.
  • Total household income cannot exceed the moderate level for the area as established in RD Instruction 1980-D, Exhibit C.
  • GRH refinance loans are permitted for properties in areas that have been determined to be non-rural since the existing loan was made.
  • Applicants are not eligible to receive “cash out” from the refinancing transaction. However, applicants may receive reimbursement from loan proceeds at settlement for their personal funds advanced for eligible loan purposes that are part of the refinance transaction, such as an appraisal fee or credit report fee. At loan closing, a nominal amount of “cash out” to the applicants (beyond reimbursement of these “prepaid” items) may occasionally result due to final escrow and interest calculations. This amount, if any, must be applied to a principal reduction of the new loan.
  • Subordinate financing such as home equity seconds and down payment assistance “silent” seconds cannot be included in the new loan amount. Any existing secondary financing must be subordinate to the new first lien.
  • Maximum loan amount cannot exceed the balance of the loan being refinanced, plus the guarantee fee, and reasonable and customary closing costs, including funds necessary to establish a new escrow account.
  • Unpaid fees, such as late fees due the current servicer, are not eligible to be included in the new loan amount.
  • eligible areas on USDA Rural Development’s web-site at:
  • http://eligibility.sc.egov.usda.govhttp://eligibility.sc.egov.usda.gov

 


For commitments issues on or after October 1, 2016:

USDA charges the lender, who can pass the charge to the borrower, a one-time up-front cost, which is known as a Guarantee Fee. The Guarantee Fee can be financed in addition to the maximum base loan amount. The Guarantee Fee is calculated as follows as of October 1, 2016:
PURCHASE TRANSACTION CALCULATION:

  • 1.00% of the TOTAL loan amount for commitments issued on or after 10/1/16.
  • Calculation: Base loan amount divided by .99 = Total loan amount (round down to nearest dollar). Total loan is then multiplied by 1.00% to get the amount of the guarantee fee.
  • A Guarantee Fee & Annual Fee (monthly) Calculator can be found on the USDA training resource website.

CALCULATION FOR REFINANCE TRANSACTIONS:

  • 1.00% of the TOTAL loan amount for commitments issued on or after 10/1/16.
  • Calculation: Base loan amount divided by .99 = Total loan amount (round down to nearest dollar). Total loan is then multiplied by 1.00% to get the amount of the guarantee fee.
  • A Guarantee Fee & Annual Fee (monthly) Calculator can be found on the USDA training resource website.

ANNUAL FEE:
All loan transactions will include an annual fee of .35%

 

 

 

REPAYMENT RATIOS REFINANCE FOR BOTH GUARANTEED LOAN TO GUARANTEED LOAN AND DIRECT LOAN TO GUARANTEED LOAN:
USDA – GUS Approved
USDA – Manual Underwrite – Must meet USDA guideline maximum debt ratios of 29 & 41%–No Exceptions Allowed.
TERM OF NEW LOAN FOR BOTH GUARANTEED LOAN TO GUARANTEED LOAN AND DIRECT LOAN TO GUARANTEED LOAN:
TERM OF THE NEW LOAN WILL BE A 30 YEAR FULLY AMORTIZED FIXED RATE MORTGAGE ONLY.
INTEREST RATE
  • Interest rate of the new loan must be a fixed rate.
  • The interest rate must be lower than the existing loan to be refinanced.
  • Funded buy down accounts are not permitted.
HOUSEHOLD INCOME Total adjusted income for the household cannot exceed the moderate level for the area as established in HB-1-3555.
LOAN SECURITY
  • Loan security must include the same property as the original loan.
  • The security property must be owned and occupied by the applicants as their principal residence.
RURAL / NONRURAL AREAS SFHGLP refinance loans are permissible for properties in areas that have been determined to be non-rural since the existing loan was made.
PROPERTY VALUATION
  • The value of the new mortgage loan request must be supported by a new appraisal. The loan amount cannot exceed the present market value plus the one-time 2 percent guarantee fee. The new loan amount can include closing costs or lender fees if supported by market value.
INSPECTIONS
  • The lender must confirm the property meets or continues to meet the current requirements of HUD Handbook 4150.2 and 4905.1.
  • No further inspections or repairs required by Rural Development.
  • Lender may require inspections or repairs. Expenses related to inspections or repairs may not be financed.
NET TANGIBLE BENEFIT Every refinance
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The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage] Kentucky USDA Refinance Funds Have Been Exhausted for Fiscal Year 2012

 Kentucky USDA Refinance Funds Have Been Exhausted for Fiscal Year 2012!
August 21, 2012
USDA Mortgage Purchase and Refinance Funding Update for Kentucky Homeowners and Buyers 
This announcement is to inform you of the current commitment authorities available for the Single Family Housing Guaranteed Loan Program (SFHGLP) loans.
Due to a change in Fiscal Year (FY) 2013 fee structure which goes into effect October 1, 2012, Lenders are urged to check with States to determine application processing time frames before underwriting applications.
 USDA Mortgage Refinance Funds:
FY (fiscal year) 2012 USDA Mortgage refinance funds have been exhausted.
We expect to run out of refinance commitment authority no later than Monday, August 20, 2012.  When USDA Mortgage refinance commitment authority is exhausted, refinance loan requests for which a conditional commitment (Form RD 1980-18) has not been issued will be returned to the lender and require underwriting under the fiscal year 2013 fee structure.  The FY 2013 fee structure will require a one-time upfront guarantee fee of 2 percent and an annual fee of 0.40 percent.  At this time, the Agency will not issue conditional commitments “subject to” receipt of FY 2013 funding or commitment authority.
USDA Mortgage Purchase Funds:
Lenders are urged to be cognizant of the differing backlogs and processing time frames from state to state.  If it is determined unrealistic that the State will be able to review the USDA loan guarantee application and issue a conditional commitment before September 30, 2012, lenders are urged to underwrite the USDA Mortgage application at the FY 2013 fee structure.  The FY 2013 guarantee fee structure will require purchase and refinance loans to carry a one-time upfront guarantee fee of 2 percent and an annual fee of 0.40 percent.
In addition, if the state where the property is located is experiencing longer processing time frames, lenders should advise the applicant accordingly when discussing interest rate locks and potential loan closing dates.
Joel Lobb (NMLS#57916)
Senior  Loan Officer
Key Financial Mortgage Co. (NMLS #1800)
107 South Hurstbourne Parkway
Louisville, KY 40222

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Posted By Blogger to Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage at 8/28/2012