Tag: Rural development

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

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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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2017 STUDENT LOAN GUIDELINES FOR A KENTUCKY USDA RURAL HOUSING MORTGAGE LOAN

 

 

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Lenders must include the greater of:
• 1 percent of the outstanding loan balance; or
• The fixed payment as reflected on the credit report.

Income Based Repayment (IBR) plans, graduated plans, adjustable rates, interest-only and deferred plans are examples of repayment plans that are subject to change and do not represent a fixed payment or repayment plan. These types of repayment plans are unacceptable to represent a long-term fixed payment repayment plan. It is the lender’s responsibility to ensure the correct fixed payment is utilized in the capacity analysis.

No additional documentation is required if a credit report is obtained.

Guide Reference – http://www.rd.usda.gov/files/3555-1chapter11.pdf

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text/talk 502-905-3708 kentuckyloan@gmail.com

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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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2017 KY USDA Rural Housing Income Limits for Kentucky Counties Kentucky Rural Development Mortgage Guide

2017 Kentucky Rural Development Mortgage Guide

  • 30 year fixed rate only for Purchases and Existing USDA loans Refinances.
  • Zero down Mortgage loan with a loan limit of $424,000
  • Upfront funding fee is 1.0% and annual mi fee is .35% (very low compared to FHA)
  • Typically cannot own other real estate. There are exceptions to this.
  • You do not have to be a first-time home buyer in Kentucky
  • Can refinance existing USDA loan as long as lowering rate by 1% and can do without an appraisal. There are overlays to this by lenders.
  • Closing costs and prepaids can be paid by seller but must be put into contract
  • Closing costs may be financed into the loan up to the appraised value.
  • You will need two credit trade lines reporting at least for 12 months on your credit file. They don’t have to be open and active. Just reporting on your credit report.
  • All Guaranteed Mortgage Loans are ran through GUS. GUS stands for the Guaranteed Underwriting System. USDA and their underwriters use this system to pre-approve you. They review credit score/history, income, debt to income ratio and assets to determine your loan eligibility. If your credit score is below 640 or your debt to income ratio is over 45%, it will get a refer and you will find most lenders will not approve the loan.
  • Some lenders will do a credit score down to 600, but they will want a lot of documentation to overturn the refer and compensating factors for the lower credit score. They typically will need to verify rent for last 12 months, with no lates, cash payments are not acceptable, and debt to income ratios are set at 29% and 41% respectively. Reserves are typically helpful too on lower credit scores, so keep in that in mind, if you have money in a savings account, for a rainy day fund, this will help sometimes get the loan approved.
  • If you have access to 20% down payment you cannot use the USDA Program. Money in a retirement account does not account toward the 20% rule.
  • Properties must be located in an eligible area of Kentucky. Typically the large metro areas of Kentucky including the following: all of Jefferson County,  all of Fayette County, Owensboro, Paducah, Hopkinsville, Bowling Green, Richmond, Frankfort and Northern KY cities of Covington, Florence, Erlanger, Beechwood, Richwood are not eligible
USDA Eligible Areas In Northern Kentucky for Boone, Kenton, Campbell, Grant Counties
  • Independence
  • Burlington
  • Hebron
  • Highland Heights
  • Walton
  • Alexandria
  • Cold Springs
  • All Of Grant County, Pendleton County And Owen County

Search for Kentucky USDA Eligible Properties 

A property must be located in an eligible area in order to use a USDA loan to purchase a home.  Contrary to belief, Rural Development loans are not only for farms or very rural homes.  

Actually, a property with an operating and income producing farm is not eligible for these loans!

Kentucky USDA Rural Max Income Limits:

  • The total household income must be within the county limits for household size.  Typically a family household of 4 can make up to around $75,650  and a family of five or more  can make up to $99,850 for a household- Some KY counties allow for higher like Shelby County, and the Northern Kentucky Counties of Boone, Kenton, Campbell allow $82,000 (household income of four) up to $108,250 (household income of five or more)

Check Your Kentucky County for USDA Rural Housing Income Limits

 

Some More Facts about a Kentucky USDA loan:


It’s a two step approval process.  The chosen USDA lender must first underwrite the file and get it approved based on the income, assets, and credit report submitted. Then, the lenders must submit to USDA for a “conditional commitment”.  This conditional commitment is the final loan approval paperwork you are looking for. 


Even though the lender may have approved the file, it still must go to USDA office in Lexington for an assignment to SFH underwriter for the final approval process. They typically are checking the appraisal and income at this stage. There have been instances where the lender would approve the file but USDA would not due to appraisal issues or income and job history. 
This is very rare instances, so keep that in mind when it comes to final loan approval. 

This two-step approval process usually adds 4-6 days to the final loan approval process, so keep that in mind when you are writing up your contract because it takes a little longer to close these loans vs FHA, VA, and Fannie Mae loans.

Well Test Treatments:  Properties with a well as the primary drinking source will require a well water test.  There are local labs to perform this test and the water must pass.

Septic Test: Sometimes they will require the septic tank to be inspected if called for in the appraisal report or home inspection. 

Older Homes: As a general rule, USDA does not like homes older than 100 years old. They will sometimes require a home inspection in addition to the mandatory appraisal on older homes.

USDA Loan After a Short Sale:  A short sale is not the end of the world.  So it is very possible to obtain a USDA loan if 3 years have passed after the short sale.  But a buyer would need re-established good rent and other credit history.

Bankruptcy and Foreclosure:  If the mortgage debt that was foreclosed, was included in a Bankruptcy – then the USDA Home Loan waiting periods after foreclosure “waiting period” of 3 years, starts from the date of the discharge of the Bankruptcy.  Because it can take 6 months or more for Banks to process the Foreclosure, and transfer title, this is a tremendous plus.

Put my experience of originating KY USDA loans to work for you. I have successfully originated over 200 Rural Housing Mortgage Loans in Kentucky. I offer free pre-approvals and will help you from start to finish and I usually attend all my closings in Kentucky. 

Get Qualified for a Kentucky USDA Loan Now!

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.

Posted by joel lobb at 6:28:00 AM Links to this post

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Labels: bankruptcy, debt ratio, first time buyer kentucky usda, foreclosure, GUS approval, Kentucky Rural Housing and USDA Loans, Kentucky USDA Rural Development For 2017 Guide, rd, rhs

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Kentucky Rural Housing Mortgage offer zero down payments and low 30 year fixed rates with lower monthly mortgage insurance requirements than FHA currently
County Name Family Size 1 -4 Family Size 5 – 8
Adair $75,650 $99,850
Allen $75,650 $99,850
Anderson $78,900 $104,150
Ballard $75,650 $99,850
Barren $75,650 $99,850
Bath $75,650 $99,850
Bell $75,650 $99,850
Boone $82,000 $108,250
Bourbon $78,400 $103,500
Boyd $75,650 $99,850
Boyle $75,650 $99,850
Bracken $82,000 $108,250
Breathitt $75,650 $99,850
Breckinridge $75,650 $99,850
Bullitt $75,650 $99,850
Butler $75,650 $99,850
Caldwell $75,650 $99,850
Calloway $75,650 $99,850
Campbell $82,000 $108,250
Carlisle $75,650 $99,850
Carroll $75,650 $99,850
Carter $75,650 $99,850
Casey $75,650 $99,850
Christian $75,650 $99,850
Clark $78,400 $103,500
Clay $75,650 $99,850
Clinton $75,650 $99,850
Crittenden $75,650 $99,850
Cumberland $75,650 $99,850
Daviess $75,650 $99,850
Edmonson $75,650 $99,850
Elliott $75,650 $99,850
Estill $75,650 $99,850
Fayette $78,400 $103,500
Fleming $75,650 $99,850
Floyd $75,650 $99,850
Franklin $76,850 $101,450
Fulton $75,650 $99,850
Gallatin $82,000 $108,250
Garrard $75,650 $99,850
Grant $75,650 $99,850
Graves $75,650 $99,850
Grayson $75,650 $99,850
Green $75,650 $99,850
Greenup $75,650 $99,850
Hancock $75,650 $99,850
Hardin $75,650 $99,850
Harlan $75,650 $99,850
Harrison $75,650 $99,850
Hart $75,650 $99,850
Henderson $75,650 $99,850
Henry $75,650 $99,850
Hickman $75,650 $99,850
Hopkins $75,650 $99,850
Jackson $75,650 $99,850
Jefferson $75,650 $99,850
Jessamine $78,400 $103,500
Johnson $75,650 $99,850
Kenton $82,000 $108,250
Knott $75,650 $99,850
Knox $75,650 $99,850
Larue $75,650 $99,850
Laurel $75,650 $99,850
Lawrence $75,650 $99,850
Lee $75,650 $99,850
Leslie $75,650 $99,850
Letcher $75,650 $99,850
Lewis $75,650 $99,850
Lincoln $75,650 $99,850
Livingston $75,650 $99,850
Logan $75,650 $99,850
Lyon $75,650 $99,850
Madison $75,650 $99,850
Magoffin $75,650 $99,850
Marion $75,650 $99,850
Marshall $75,650 $99,850
Martin $75,650 $99,850
Mason $75,650 $99,850
McCracken $75,650 $99,850
McCreary $75,650 $99,850
McLean $75,650 $99,850
Meade $75,650 $99,850
Menifee $75,650 $99,850
Mercer $75,650 $99,850
Metcalfe $75,650 $99,850
Monroe $75,650 $99,850
Montgomery $75,650 $99,850
Morgan $75,650 $99,850
Muhlenberg $75,650 $99,850
Nelson $75,650 $99,850
Nicholas $75,650 $99,850
Ohio $75,650 $99,850
Oldham $75,650 $99,850
Owen $75,650 $99,850
Owsley $75,650 $99,850
Pendleton $82,000 $108,250
Perry $75,650 $99,850
Pike $75,650 $99,850
Powell $75,650 $99,850
Pulaski $75,650 $99,850
Robertson $75,650 $99,850
Rockcastle $75,650 $99,850
Rowan $75,650 $99,850
Russell $75,650 $99,850
Scott $78,400 $103,500
Shelby $84,750 $111,850
Simpson $75,650 $99,850
Spencer $75,650 $99,850
Taylor $75,650 $99,850
Todd $75,650 $99,850
Trigg $75,650 $99,850
Trimble $75,650 $99,850
Union $75,650 $99,850
Warren $75,650 $99,850
Washington $75,650 $99,850
Wayne $75,650 $99,850
Webster $75,650 $99,850
Whitley $75,650 $99,850
Wolfe $75,650 $99,850
Woodford $78,400 $103,500

Kentucky USDA Rural Housing Loans : Kentucky Rural Development Guidelines for 2015:

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Kentucky USDA Rural Housing Development Eligible Properties and Income Limits for 2017

usda-rural-housing-wisconsin-2

Search for Kentucky USDA Eligible Properties 

A property must be located in an eligible area in order to use a USDA loan to purchase a home.  Contrary to belief, Rural Development loans are not only for farms or very rural homes.  

Actually, a property with an operating and income producing farm is not eligible for these loans!

92e6b340d7ddfc1129f96e36194cf580

Kentucky USDA Rural Max Income Limits:

  • The total household income must be within the county limits for household size.  Typically a family household of 4 can make up to around $75,650  and a family of five or more  can make up to $99,850 for a household- Some KY counties allow for higher like Shelby County, and the Northern Kentucky Counties of Boone, Kenton, Campbell allow $82,000 (household income of four) up to $108,250 (household income of five or more)

Check Your Kentucky County for USDA Rural Housing Income Limits

 

Some More Facts about a Kentucky USDA loan:


It’s a two step approval process.  The chosen USDA lender must first underwrite the file and get it approved based on the income, assets, and credit report submitted. Then, the lenders must submit to USDA for a “conditional commitment”.  This conditional commitment is the final loan approval paperwork you are looking for. 


Even though the lender may have approved the file, it still must go to USDA office in Lexington for an assignment to SFH underwriter for the final approval process. They typically are checking the appraisal and income at this stage. There have been instances where the lender would approve the file but USDA would not due to appraisal issues or income and job history. 
This is very rare instances, so keep that in mind when it comes to final loan approval. 

This two-step approval process usually adds 4-6 days to the final loan approval process, so keep that in mind when you are writing up your contract because it takes a little longer to close these loans vs FHA, VA, and Fannie Mae loans.

Well Test Treatments:  Properties with a well as the primary drinking source will require a well water test.  There are local labs to perform this test and the water must pass.

Septic Test: Sometimes they will require the septic tank to be inspected if called for in the appraisal report or home inspection. 

Older Homes: As a general rule, USDA does not like homes older than 100 years old. They will sometimes require a home inspection in addition to the mandatory appraisal on older homes.

USDA Loan After a Short Sale:  A short sale is not the end of the world.  So it is very possible to obtain a USDA loan if 3 years have passed after the short sale.  But a buyer would need re-established good rent and other credit history.

Bankruptcy and Foreclosure:  If the mortgage debt that was foreclosed, was included in a Bankruptcy – then the USDA Home Loan waiting periods after foreclosure “waiting period” of 3 years, starts from the date of the discharge of the Bankruptcy.  Because it can take 6 months or more for Banks to process the Foreclosure, and transfer title, this is a tremendous plus.

Put my experience of originating KY USDA loans to work for you. I have successfully originated over 200 Rural Housing Mortgage Loans in Kentucky. I offer free pre-approvals and will help you from start to finish and I usually attend all my closings in Kentucky. 

Get Qualified for a Kentucky USDA Loan Now!

Text or call 502-905-3708
Text or call 502-905-3708

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.

Posted by joel lobb at 2:35:00 PM

Email ThisBlogThis!Share to TwitterShare to FacebookShare to Pinterest

Labels: bankruptcy, debt ratio, first time buyer kentucky usda, foreclosure, GUS approval, Kentucky Rural Housing and USDA Loans, Kentucky USDA Rural Development For 2017 Guide, rd, rhs

USDA Single Family Housing Homes for Sale in Kentucky Currently

usda1

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
 

Rural Housing Funds for Kentucky USDA Loans Now Available for 2017 and 2016 Mortgage Loans

updates
RHS Funding Now Available for Kentucky Rural Housing Mortgage Loans for 2017
Funding has now been authorized for RHS loans. Over the next two to three business days, USDA will be obligating all conditional commitments in their system. An updated Conditional Commitment will be issued for each loan removing the “contingent upon” language. Once Century has received this updated commitment, the loan will be eligible to close.

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

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Upfront guarantee fee will change from 2.75% to 1.0% Annual fee will change from 0.50% to 0.35%-Huge Savings for Kentucky Home Buyers using the Rural Housing USDA Program

USDA_fee-reduction.jpg

*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!

 

5a28150380c342e1ee53c35829ffc688

kentuckyloan@gmail.com
Call or Text 502-905-3708 with your KY USDA Rural Housing Questions

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Kentucky USDA Rural Housing Streamline Refinance Changes in 2016

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Kentucky USDA Mortgage holders should look to  Streamline Refinance  for Customers wanting to lower their payments and reduce their mortgage insurance

 

PROGRAM REQUIREMENTS
Existing Loan Current loan may be a section 502 Guaranteed or Direct loan.
New Interest Rate The new interest rate must meet the following requirements: 1) Fixed, and 2) The interest rate may not exceed the existing rate (that described in RD
440.1)Maximum Interest Rate The maximum interest rate is based on the 90 day FNMA 30 year A/A Remittance rate as of the lock date + 100 basis points and rounded up to the next1/4%. The rates are found on the Fannie Mae website: http://www.efanniemae.com/sf/refmaterials/hrny/index.jsp

Net Tangible Benefit The new principal, interest, taxes, and insurance (PITI) must have at least a $50 reduction compared to the existing PITI. The reduction ($50) must be
independent of any change in the annual fee, which is included in the calculation.

Term The new term must be 30 years only.

Adding/Removing Borrowers Borrowers may be added, but not removed (unless deceased) from the current loan.

Maximum Mortgage Amount The mortgage amount may include the principal balance plus a portion or the full amount of the applicable upfront guarantee fee, accrued interest, funds to establish tax and insurance escrow, and eligible loan closing costs (discount points not permitted see below)

COLLATERAL
Appraisal No Appraisal required. A new appraisal is only required for direct loan borrowers that received a subsidy.

Eligible Collateral All dwellings must provide decent, safe, and sanitary at a modest cost (a dwelling with a purchase price not exceeding the FHA Single Family mortgage
limit for its county is considered modest), Owner Occupied Only. 1 Unit, PUD’s, Condos,
Ineligible Collateral Mobile homes, single-wide manufactured homes, co-ops, Condo Hotels, State approved medical marijuana producing properties, income producing farms, ranches, mixed use, commercial properties, leaseholds, properties with sink holes, properties served by cisterns, properties serviced by hauled water,
properties with a wastewater stabilization pond/lagoon (aka sewage lagoon), properties with individual water purification systems required to make the
water safe for human consumption (does not include systems installed to improve the taste or softness of the water).

CREDIT
CAIVRS and Exclusionary List CAIVR clearance must be obtained for all borrowers on the transaction. GSA/LDP/SAM clearance is required for all parties of the transaction within 30 days of USDA’s Conditional Commitment date.

Bankruptcy Chapter 7 and 13 must be discharged. The borrower(s) may not currently be in bankruptcy.
Judgments/Liens All outstanding judgments and liens must be paid.
Foreclosure / Deed-in-lieu Subject property may not have an active foreclosure.
Credit Report A tri-merge mortgage only rating for subject property with credit scores will be used. Not required.
Mortgage History 0x30 in the previous 12 months. Must have evidence of payment history over the previous 12 months. No exceptions. A mortgage-only credit report or
servicing verification (FiServ) is acceptable

INCOME/ASSETS
Income Documentation Income for all household members is required to determine if household income is under the USDA moderate income area limit. Income documentation is not used to calculate qualifying ratios.
Annual Income Limits Annual income is the basis for determining adjusted income. Annual income includes the total gross income of the borrower, co-borrower, and any otheradult (age 18 and up) household members, any amount anticipated to be received from a source outside of the family during the 12-month period, and all
amounts derived during the 12-month period from assets to which any member of the family has access.

If a cost of living allowance or a proposed
increase in income has been estimated to be in effect prior to the first month’s mortgage payment due date, this amount must be included as income. For
annual income, count only the first $480 of earned income from adult full time students who are not the borrower, co-borrower, or spouse.
Rental income is included regardless of duration. Include total rental real estate income reported on most recent IRS form 1040 Schedule E for previous 12
months.

If no schedule E, cancelled checks, money order receipts, bank statements, or other documents may be used to support rent amounts received

 

The USDA has announced effective October 1, 2016:

  • Reduction in the Upfront Guarantee Fee: the upfront guarantee fee for purchase and refinance transactions will decrease from 2.75% of the loan amount to 1.00% of the loan amount.
  • Reduction in the Annual Fee: The 0.50% annual fee will also decrease to 0.35%.

The new fee structure must be used for loans submitted in GUS on or after, Thursday, September 1, 2016.

Contact your Account Executive for more information on the fee changes or our USDA Streamline Assist Program.

 

gs

Joel Lobb
Senior  Loan Officer
(NMLS#57916)
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
Kentucky USDA and Rural Housing Guaranteed Home Loan Program
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.