Tag: rhs kentucky

Kentucky USDA Income Limits for 2018 Changed to Higher Limits

Kentucky USDA Income Limits for 2018 Changed to Higher Limits

June 13, 2018

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Kentucky USDA Income Limits Increased for most areas for 2018

USDA Loans: Low Rates With No Down Payment

Kentucky USDA Loans are mortgage loans which are backed and guaranteed by the United States Department of Agriculture. These loans are sometimes known as Rural Housing Loans or “Section 502” loans, which are named for it’s place in the USDA Charter.

USDA loans are extremely popular by both first-time homebuyers and even previous homeowners due to their low, competitive interest rates but also there is no need for a down payment.

USDA loans also offer lower monthly mortgage insurance premiums (MIP) than some of it’s popular counterparts, FHA and Conventional loans.

CLICK HERE TO GET A USDA HOME LOAN QUOTE NOW!

2018 USDA Loan Income Limits

For the SFGLP, the 2018 income limits were updated on June 13, 2018.  Most counties saw increases. The floor income limit in all counties across the United States went up.

While underwriting requirements for USDA loans will vary based on the credit profile of the borrower, there is one requirement where there is absolutely no leeway and that is with the household income limit for the area you are purchasing in.

USDA has set specific income limits based on the size of the household. Categories are based on household sizes of 1-4 and then household sizes of 5-8.

2018 Income Limits are based on household size:

  • 1-4 member household : $82,700

  • 5-8 member household : $109,150

There are some areas with slightly higher limits.  For example, in Northern Kentucky Counties of Boone, Kenton, Campbell, and Gallantin Counties the income limits for a 1-4 member household is $90,500 while a 5-8 member household is $119,450.  **Income limits vary my county and MSA***

USDA has published a great new PDF document that lists every area in every state.  You can view that document by here.

You can always go to the USDA eligibility website and lookup the income limit for the area you live or are wanting to purchase here.

Get a Free USDA Home Loan Quote

If you’re looking for a low- or no-money-down home loan, then the USDA loan may be the perfect option for you.

You can get a free USDA home loan quote now! There is no obligation to proceed, and we’ll be happy to answer all your questions.

CLICK HERE TO GET A USDA HOME LOAN QUOTE NOW!

Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
 
American Mortgage Solutions, Inc.
 

Text/call:      502-905-3708

fax:            502-327-9119
email:
          kentuckyloan@gmail.com
 
 

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Kentucky USDA Rural Development Loans

 

USDA-Loan-Apply-Today

Frequently Asked Questions

Are only first-time homebuyers eligible?

No, you do not have to be a first time home buyer.  The USDA Loan program has no restrictions that prevent previous homeowners from using the program.


What is the maximum amount that I can borrow?

There isn’t a limit to the amount a homeowner can borrow; however, most lenders conform to the loan limits set forth by Fannie Mae and Freddie Mac and will extend financing for up to $424,100.


How much are the closing costs for a USDA mortgage?

Closing costs vary from lender to lender and state to state. The charges from the USDA are a Guarantee fee of 1% of the loan amount. Additionally, there is a monthly mortgage insurance factor of .35% of the principal balance.


Can closing costs be financed into a USDA Loan?

Yes! The USDA home loan has the ability to finance closing costs up to the appraised value or to get a 6% seller contribution to closing costs from sellers on the contract.

What are USDA eligibility requirements?

USDA requires that the borrower demonstrates a reasonable ability and willingness to repay the mortgage loan. USDA lenders will view your credit history, income, and assets to verify your ability to repay the mortgage.


What is the USDA’s minimum credit requirement?

The USDA has no minimum score required; however, most lenders require a minimum credit score of 620 to obtain financing. Exceptions can be made and you should talk to a loan specialist about this.


Can you qualify for a USDA loan if your credit score is below 640?

Many lenders do require a 640 minimum Fico score to be eligible for a USDA home loan, however, exceptions can be made. It is important to note that the derogatory credit is temporary in nature, beyond the applicant’s control, and the circumstances that caused the adverse credit are no longer a factor.


What does the USDA require for employment eligibility?

You must have established employment to be eligible for a USDA Loan. Almost all lenders will require a minimum of two years of steady employment or schooling prior to your current employment if less than 2 years. If you are self-employed, you are eligible but will be required to provide two years of federal tax returns to verify your income.


Do USDA home loans have PMI?

USDA mortgages do have a guarantee fee and monthly PMI. The rate for the mortgage insurance is .35% of the outstanding principal balance and the current guarantee fee is 1% of loan amount. For example, if you borrowed a full $150,000 from your lender, the guarantee fee would be $1,500, which you can finance into your mortgage. The monthly PMI would be about 44.00 dollars a month on a 151,500 loan amount. (which includes the guarantee fee of 1%)


Can I get a USDA Mortgage after bankruptcy?

Yes, the USDA Loan Program requires the bankruptcy to be discharged for at least 3 years for a CH 7 and at least 12 months of on time payments on a CH 13. You can be in a CH 13 currently as long as 12 months of on-time payments have been made and verified.


How soon can you qualify for a mortgage after foreclosure?

 VA Loans: 2 years after foreclosure
 USDA Loans: 3 years after foreclosure (Exceptions are possible!)
 FHA Loans: 3 years after foreclosure
 Conventional Loans (Fannie Mae and Freddie Mac): 7 years after foreclosure


Can I use a USDA Loan on investment property or Second Home?

No, the USDA Rural Housing Program is for primary residences only. Furthermore, any property that is income producing (farms, multi-family, over 30 acres, etc.) cannot qualify for the 502 Guaranteed Rural Home Loan.


Can a USDA loan finance a condominium?

Yes, you can use a USDA loan to finance a condo; however, there are requirements that will need to be met.


Does a USDA home loan finance modular or manufactured homes?

Modular and manufactured homes can be considered a USDA eligible property, but additional appraisal requirements will apply. Most lenders do not offer Section 502 USDA loans on manufactured homes; however, they do finance modular homes. The difference between a modular and manufactured is how and where the home is constructed. A manufactured home is already fully built and put on a foundation and modular homes are built in pieces, and then taken to the site to be constructed.


How fast can you close a USDA loan?

USDA loans have a 2 prong process. The loan is first approved by the lender and then sent to the local USDA field office to be insured. Depending on the turn-times at the local USDA office, closing can be as fast as 20 days or up to 60 days.

 

Kentucky USDA Rural Development Loans

  • Looking for 100% Financing without the Military Service Requirement?
  • Tired of Sourcing Funds for a Down Payment?
  • Need a New Product Niche Designed Specifically for Purchases?

100% Financing – If your borrower wants low down payment options, Kentucky USDA Rural Housing is the only widely available zero-down loan (other than VA which includes military service requirements).  Plus – reduced MI and no cash reserve requirements! *

Not a Farm Loan – It takes just a few minutes to check property eligibility – moving to a farm isn’t required – in fact, many suburban and rural parts of the country are eligible. Visit the USDA Mapping Tool Site (for residential properties only).

Program Minimum Down
Payment
Conventional 3%
FHA 3.5%
USDA 0%
VA 0%

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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

 

Jo

USDA Guaranteed Rural Housing Loans are one of the only “no money down” options available to home buyers today. USDA loans aren’t just in the country. Many other areas fall within the USDA Rural Housing designated areas, so opportunities may be closer than you think. To view eligible rural areas near you, CLICK HERE to access the USDA lookup tool on their website.
This program is very attractive to low-to-moderate income buyers:
  • Zero percent down
  • CLTV up to 102.04%
  • 6% seller contributions allowed
  • Credit scores as low as 620
  • No reserves required

KY USDA Single Family Housing Homes for Sale in 2017 Currently.

Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 10/24/2017
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
To change your preferences, click here.
Address Bed/Bath Price
117 Dove Drive 3/1 $34,840.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
301 Eastview Circle 2/1 $51,135.00 – GovtBid
Shelbyville, KY 40065 Foreclosure Sale
1006 Twelve Oaks Dr 3/2 $67,000.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
117 Western Ave 3/2 $26,800.00 – GovtBid
Cynthiana, KY 41031 Foreclosure Sale
427 Earl St. 3/1.5 $30,150.00 – GovtBid
Danville, KY 40422 Foreclosure Sale
200 Verde Dr. 3/2 $36,850.00 – GovtBid
Padacah, KY 42003 Foreclosure Sale
136 Fuller Way 3/1 $28,810.00 – GovtBid
Mount Sterling, KY 40353 Foreclosure Sale
139 Pearl Street 2/1.5 $30,820.00 – GovtBid
London, KY 40741 Foreclosure Sale
609 Ridgeview Drive 3/2 $46,230.00 – GovtBid
London, KY 40741 Foreclosure Sale
261 Bridlewood Ave 3/2 $114,330.00 – GovtBid
Shelbyville, KY 400657222 Foreclosure Sale
265 Meadowbrook Rd. 2/1 $13,400.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
50 Crabtree Rd 3/2 $43,515.00 – GovtBid
Strunk, KY 42649 Foreclosure Sale
412 Chestnut St. 3/1 $12,060.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
508 Hickory Hill Drive 3/1 $13,400.00 – GovtBid
Monticello, KY 42633 Foreclosure Sale
105 Woodland Place 3/1.5 $18,090.00 – GovtBid
Mt Vernon, KY 40456 Foreclosure Sale
502 N. Main St. 2/1.5 $25,795.00 – GovtBid
Brownsville, KY 42210 Foreclosure Sale
66 Craycraft Rd 2/1 $47,280.00 – GovtBid
Tollesboro, KY 41189 Foreclosure Sale
328 E. Legend Dr 3/2 $40,200.00 – GovtBid
Mount Sterling, KY 40353 Foreclosure Sale
90 Brewer Subdivision 3/1 $21,440.00 – GovtBid
Campton, KY 41301 Foreclosure Sale
RR 746 Box 5230 3/1.5 $16,750.00 – GovtBid
Campton, KY 41301 Foreclosure Sale
234 Gardner Lane 3/1 $25,460.00 – GovtBid
Mt Sterling, KY 40353 Foreclosure Sale
221 Man O War Dr 3/2 $103,525.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
111 Beechmount Drive 3/1 $54,885.00 – GovtBid
Nicholasville, KY 40356 Foreclosure Sale
5915 Woodcreek Crossing W 3/2 $46,900.00 – GovtBid
Crestwood, KY 400148229 Foreclosure Sale

 

 

 

***********Please Do Not Reply To This Message**********
Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 07/09/2017
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
To change your preferences, click here.
Address Bed/Bath Price
245 Miller Lane 3/2 $34,170.00 – GovtBid
London, KY 40741 Foreclosure Sale
6080 Franklintown Road 3/1 $22,780.00 – GovtBid
Pleasureville, KY 40057 Foreclosure Sale
197 Reynolds Hill 3/1 $26,800.00 – GovtBid
Allen , KY 41601 Foreclosure Sale
335 Harrisburg Ave 2/1 $14,740.00 – GovtBid
Owingsville, KY 40360 Foreclosure Sale
1026 Raceland Ave 3/1 $18,760.00 – GovtBid
Raceland, KY 41169 Foreclosure Sale
98 Thompson Ridge Rd 4/2 $23,450.00 – GovtBid
Germantown, KY 41044 Foreclosure Sale
12016 Bethlehem Road 3/1 $66,585.00 – GovtBid
Bethlehem, KY 40007 Foreclosure Sale
5442 Scenic Vista Dr. 3/1.5 $38,190.00 – GovtBid
Somerset, KY 425018138 Foreclosure Sale
25 River Valley Run 3/2 $80,550.00 – GovtBid
Ghent, KY 41045 Foreclosure Sale
3175 State Rt.2 3/2 $27,470.00 – GovtBid
Greenup, KY 41144 Foreclosure Sale
1019 Parkside Drive 2/1 $33,500.00 – GovtBid
Georgetown, KY 40324 Foreclosure Sale
69 Veterinarian Lane 2/1 $77,835.00 – GovtBid
West Liberty, KY 41472 Foreclosure Sale
283 Simmons Lane 3/2 $86,200.00 – GovtBid
Flemingsburg, KY 41041 Foreclosure Sale
11 Roe Street 2/1 $36,850.00 – GovtBid
Walton, KY 41094 Foreclosure Sale
4837 Elkwood Dr 3/1.5 $38,190.00 – GovtBid
Burlington, KY 41005 Foreclosure Sale
3008 Allens Fork Dr 4/1 $44,220.00 – GovtBid
Burlington, KY 41005 Foreclosure Sale
5 Terence Dr. 2/1 $24,120.00 – GovtBid
Williamstown, KY 41097 Foreclosure Sale
132 OI’ Stable Drive 3/2 $45,560.00 – GovtBid
Somerset, KY 42503 Foreclosure Sale
10897 Pleasant Ridge Rd 3/1 $21,440.00 – GovtBid
Alexandria, KY 41001 Foreclosure Sale
78 Cedar Brook Way 3/2 $48,240.00 – GovtBid
Morehead, KY 403517242 Foreclosure Sale

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
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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
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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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Kentucky USDA Rural Housing Eligibility Map for 2018


Type in your address below and hit go here to see if the home is in an eligible USDA Rural Housing Area for a Kentucky Property

















 

Kentucky USDA Guidelines for 2018

 

 

 

 

 

 

 

 



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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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