Tag: Rural area

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

 

 

 

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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
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Rural Development Kentucky Eligibility Maps Change 2015

 

Rural Development Kentucky Eligibility Maps Change on February 2, 2015
Barring Congressional action that extends current eligible areas, effective February 2, 2015, Rural Development will, with a few exceptions, implement the eligibility maps in accordance with the Agricultural Act of 2014, Pub. L. 113-79 (“Farm Bill”).  The changes will be those already published on the “Future Eligible Areas” maps posted on the

 

Kentucky Rural Housing 2015 Maps for Rural Development Housing Loans Eligibility Website.


In order to be subject to current eligibility maps, a “complete” loan guarantee request (application) must be received by the RHS, prior to February 2, 2015.  A “complete” loan guarantee request received by the RHS on or after February 2, 2015 will be subject to the new rural area designations/maps.

 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

Kentucky USDA Guaranteed Rural Housing Loans

Kentucky USDA Guaranteed Rural Housing LoansDid you know that Kentucky home buyers can still get a mortgage with no money down, even with less than perfect credit? The Kentucky Guaranteed Rural Housing Loan Program offers these options in a wide range of areas, including many suburbs outside the major metro areas of Louisville, Lexington, Bowling Green, Owensboro, Paducah, Hopkinsville, and Northern Kentucky cities of Florence, Covington and Newport.This loan program is offered through the Kentucky Rural Housing Service, an agency of the U.S. Department of Agriculture and designed to assist low and moderate-income residents by providing better access to affordable housing finance options including little or no out-of-pocket costs in eligible areas.

  • To see if your market area falls in a designated Rural area, visit:http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
  • Available to low- and moderate-income borrowers whose adjusted income is equal to or less than 115% of the area median income
  • Owner-occupied single family non-farm residences, approved condos and PUDs
  • New construction properties are eligible
  • Home buyers can finance up to 100% of the market appraised value, including all recurring and non-recurring closing costs, in some circumstances Loan amounts as high as $417,000 in the continental U.S. Higher in Alaska and Hawaii.
  • No foreclosures in last 3 years. Can be a previous homeowner
  • No bankruptcies in last 3 years for A chapter 7. Chapter 13 are usually okay with 12 months history.
  • Credit scores as low as 620 No asset or reserve requirements. Gift funds are allowed

 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

USDA Rural Development No Money Down USDA Rural Housing Loan Program for Shelby County Kentucky

USDA Rural Development No Money Down USDA Rural Housing Loan Program for Shelby County Kentucky

 

For Shelby County Kentucky USDA Rural Mortgage buyers, there are certain income limits you must meet for the Shelby County Rural Housing homebuyers Program:

Section 502 Guaranteed Rural Housing Loan Program
 income limits for usda rural housing loan program for shelby county kentucky
Maximum Adjusted Household Income for Selected State and County :  $83,950.00
Section 502 Direct Rural Housing Loan Program
 
Maximum Adjusted Household Income for Selected State and County :  $58,400.00

 

Changes for USDA rural development housing loans – kentucky rhs loan

Changes for USDA rural development housing loans – Kentucky rhs loan

Rural Development may continue to process applications on hand received prior to the time an area has been determined to be not “rural”. Complete Single Family Home Direct and Guaranteed loan applications submitted on or before Sept. 30, 2013, will not be subject to the new rural area designations, providing the application is complete. Applications received by close of business on Sept. 30, and processed on/after Oct. 1, will be subject to the newly designated rural areas if the application is incomplete.

Rural housing program breaks city limits | HousingWire

Rural housing program breaks city limits | HousingWire.

Rural housing program breaks city limits

Rural Housing announced today that the Kentucky eligible property map will NOT be changing

Kentucky USDA and Rural Development Eligible Areas in Kentucky

January 2014 USDA RURAL HOUSING UPDATE 

eligible Kentucky Map for Kentucky USDA Mortgage Loans for Rural Housing Mortgages in Kentucky
eligible Kentucky Map for Kentucky USDA Mortgage Loans for Rural Housing Mortgages in Kentucky

The new 2014 Farm Bill has now passed the House and the Senate in Congress. This is a big deal for home buyers in the Louisville, Kentucky area and surrounding areas in Central Kentucky. This bill grandfathered the existing communities in that qualify for Rural Housing USDA Loans 100% financing until 2020.

This means a qualified buyer can purchase a home in Shepherdsville, Mt Washington, Shelbyville, Elizabethtown, Bardstown, Nicholasville, Georgetown, Kentucky cities  with Zero Down until at least 2020. Great news Indeed!


Call or email below to qualify for free for your next USDA Home loan in Kentucky.

2014 Kentucky USDA Rural Housing eligible areas
2014 Kentucky USDA Rural Housing eligible areas

Joel Lobb
Senior  Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 Company ID #1364 | MB73346

October 1, 2012 over 900 communities across the USA will lose their eligibility for 100% USDA Rural Housing loans including cities in Kentucky that where once eligible. If you know of buyers looking in these communities they need to act now. They should probably be under contract by end of August to be safe. There is no indication this expiration will be delayed. See the cities below that will be no longer eligible come 10/1/2012 for a Rural Housing USDA Loan in Kentucky 

No Longer Eligible for Kentucky RHS USDA Loans come 10/1/2012 below:

 Bardstown,  KY, Nelson County  

 Burlington, KY,   Boone County 

  Elizabethtown, KY,   Hardin County 

 Georgetown, KY,  Scott County

  Independence, KY,   Kenton  County 

 Nicholasville , KY, Jessamine County

 Shelbyville, KY , Shelby County

 Shepherdsville. KY , Bullitt County 

 Bardstown KY1

Table 1. Metropolitan Kentucky USDA Eligible Areas Potentially Impacted by Population Change

KY Burlington 8.84 15,926 10,779
KY Elizabethtown 25.36 28,531 22,542
KY Georgetown 15.84 29,098 18,080
KY Independence 17.44 24,757 14,982
KY Nicholasville 13.01 28,015 19,680
KY Shelbyville 8.06 14,045 10,085
KY Shepherdsville 9.67 11,222 8,334

To see an eligible Kentucky Map for Kentucky USDA Mortgage Loans for Rural Housing Mortgages in Kentucky  Please clink the following link below:

https://kentuckyusdaloan.com/

Breaking News!! USDA Announcement.

All current eligible areas of Kentucky for Rural Development loans will remain the same until March 27, 2013 unless directed otherwise.

SFH Origination News

From the National Office in Washington DCSingle Family Housing Guaranteed Loan Program

September 26, 2012

Implementation of 2010 Census Data

No changes to rural designated areas based on the 2010 Census Data will occur until March 27, 2013 unless directed otherwise.

For additional information on this subject, attached is the Administrative Notice, AN 4679 with additional information. Below is an exert directly from the AN

   SFH Origination News
     
 
Single Family Housing Guaranteed Loan Program

USDA RD Approved Map Locations 2013

Rural Housing announced today that the Kentucky eligible property map will NOT be changing until March 2013.  Many were reporting the map change that determines what homes would be eligible was going to happen in October 2012, this is not the case.   Please bookmark the blog to stay informed of the latest USDA mortgage program changes
For the USDA approved map, please click here
Call us today at 502-905-3708 or visit Free Kentucky Rural Development and USDA Loan Approvals to learn more about 100% Rural Housing loans and application requirements

Fill out my form!

Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program

Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program

Kentucky Guaranteed Loans Offer Affordable Financing To Rural Homebuyers.

The mission of Kentucky Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural Kentucky  homebuyers achieve their dream of homeownership!

Kentucky Rural Development partners with approved local lenders to extend 100% financing opportunities to eligible rural individuals and families for the purchase of safe and sanitary dwellings. Guaranteed loans have assisted thousands of homeowners to purchase a home with affordable interest rates and loan terms.

Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located. Additional Guaranteed Loan Features include but are not limited to:

  • 100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included.
  • Guarantee Fee applies: may be rolled into the loan amount.
  • Flexible credit guidelines. Non-traditional credit histories may be accepted.
  • Fixed 30 year interest rates apply. Lenders and applicants agree upon interest rate.
  • Qualifying ratios are 29% for housing costs and 41% for total debt. Lenders may request an exception to exceed these ratios when strong compensating factors are identified.
  • No maximum purchase price. Qualifying ratios and the applicant’s stable and dependable income will determine home affordability.
  • Eligible property types include existing homes, new construction, modular homes, Planned Unit Developments (PUD’s), eligible condominiums and new manufactured homes.
  • Eligible closing costs and lender fees may be included in the loan or paid by the applicant.
  • Gift/Grant Funds/Mortgage Credit Certificates (MCC’s)/Seller Concessions are allowed.
  • Eligible repairs and improvements may be included in the loan.
  • Applicants apply with an approved lender of their choice.
  • Not limited to first time homebuyers.

 

Changes to RHS Guarantee and Annual Fee

Effective on October 1, 2012, RHS will revise the Up-Front Guarantee Fee and Annual Fee structure as follows:

 

Up-Front Guarantee Fee

Through

Sept. 30, 2012

Effective  Oct. 1, 2012

Purchase Transactions (no change)

2%

2%

Refinance Transactions

1.5%

2%

 

Annual Fee

Through

Sept. 30, 2012

Effective  Oct. 1, 2012

Purchase Transactions

.30%

.40%

Refinance Transactions

.30%

.40%

 

Loan guarantee requests submitted to RHS by September 30, 2012, in which a conditional commitment has not been issued, will be subject to the new, October 1, fee structure.  Lenders are encouraged to plan for the changes because, as mentioned previously, some RHS offices are experiencing extreme backlogs in loan guarantee delivery.

 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Kentucky USDA Rural Development Guaranteed Section 502 Loans

Kentucky Rural Development Guaranteed Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Guaranteed Section 502 Loans Kentucky

Eligibility: Applicants for Kentucky loans may have an income of up to 115% of the median income for the area. Area income limits for this program are here.   Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.  In addition, applicants must have reasonable credit histories.
Approved lenders under the Single Family Housing
Guaranteed Loan program include:

Terms: Loans are for 30 years.  The promissory note interest rate is set by the lender.
There is no required down payment. The lender must also determine repayment feasibility, using ratios of repayment (gross) income to PITI and to total family debt.

Standards: Under the Section 502 program, housing must be modest in size, design, and cost.   Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards. New Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.  Existing manufactured housing will not be guaranteed unless it is already financed with an HCFP direct or guaranteed loan or it is Real Estate Owned (REO) formerly secured by an HCFP direct or guaranteed loan.

Approval:Rural Development officials have the authority to approve most Section 502 loan guarantee requests.

Guaranteed Section 502 Loans Kentucky

Basic Instruction: 7 CFR Part 1980.

We are not affiliated with, nor a part of USDA or any other Government Agency.

USDA Has $11.2 Billion to Guarantee No-Down Mortgages in Kentucky

USDA Has $11.2 Billion to Guarantee No-Down Mortgages in Kentucky

By Steve Cook Print Article Print Article

The U.S. Department of Agriculture has only two months to spend $11.2 billion on its no-down payment rural development loan program, a record amount at this juncture in the federal fiscal year for the program that provides no-down payment mortgages to borrowers in rural and suburban markets.

Usually by August, the program—which has become extraordinarily popular since the demise of private no-down financing—runs out of money and applications are put on hold until more money becomes available with the beginning of a new federal fiscal year on October 1.

This year, however, the program is enjoying a windfall—the result of a continuing resolution signed by President Obama that doubled the size of the USDA’s Rural Development Service’s Section 502 single family guaranteed loan program, taking it from $12 to $24 billion. Some $12 billion has been allocated over the past three months.

Founded in 1949 to spur home sales and development in rural areas, the U.S. Department of Agriculture’s popular direct and guaranteed rural housing loans are one of the few places in America you can still get a mortgage with no money down at competitive rates.

Borrowers don’t have to be lower income—in fact they can make slightly more than the median. To qualify for the government guaranteed loans, borrowers can earn up to 115 percent of the median income for the area. Nor do they have to buy in rural area. They can live relatively close to a major urban area or in a popular resort community; however qualifying areas were recently redrawn to comply with the program’s rural mandate.

Effective October 1 the USDA will begin collecting a monthly mortgage insurance of .3 percent, but their up-front mortgage insurance will be reduced from 3.5 percent to 2 percent. On a $200,000 purchase with a USDA guaranteed mortgage at 5 percent, a buyer’s current mortgage payment will increase $34/month under this new split premium mortgage insurance structure, which could potentially make it more difficult for some buyers to get financing.