Tag: Rural Housing Service

INCOME ELIGIBILITY FOR KENTUCKY USDA LOANS AND RURAL HOUSING DEVELOPMENT RHS

INCOME ELIGIBILITY

502-905-3708
ACCEPTABLE INCOME FOR A KENTUCKY USDA AND RURAL HOUSING LOAN FOR THE 502 GUARANTEE LOAN

 

 

 

 

 

 
• For the Guaranteed Loan Program, the borrower’s adjusted income may not exceed 115% of the U.S. median income
• An income calculator is available on the Rural Development Web site at
http://eligibility.sc.egov.usda.gov. From the home page, click “Single Family Housing” under “Income  Eligibility.”
• The following are included in annual income to qualify for an RHS guaranteed loan:
− Gross amount of wages, salaries, overtime pay, commissions, fees, tips, bonuses and other compensation for personal services of all adult members of the household
Net income from the operation of a farm, business or profession, interest, dividends and other net income of any kind from real or personal property
− Payments from social security, annuities, insurance policies, pensions, unemployment, workers compensation, alimony and/or child support and other types of periodic receipts.
− All regular pay, special pay and allowances of a member of the armed forces who is the
borrower or spouse whether or not that family member lives in the unit
− All rental income, regardless if using to qualify, must always be considered when calculating total household income for program eligibility as follows:

• The following sources are not included in annual income but will be considered in determining the ability to repay the loan:
− Income from minors
Food stamp allotment
− Payments from foster care
− Irregular cash gifts
Lump sum additions, such as capital gains, etc.
− Medical reimbursements
− Educational benefits
− Hazardous duty pay for military person exposed to hostile fire Note: Not every situation can be thoroughly addressed and this sellers guide is not all-encompassing. At
underwriter discretion, additional documentation may be required on any loan.

USDA Guidelines

− Income exempted by Federal Statute (details noted in 1980-D Exhibit F). Adjustments to reduce
annual income include $480.00 for each minor child, full time student or a disabled member of
the family. $400.00 may be deducted from annual income for each family member over 62
years of age. An additional deduction may be calculated for certain expenses when added
together exceed 3% of gross annual income

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

 

 

 

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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

 

2010 Census Data Implementation – Eligible Rural Area Change for Kentucky USDA and Rural Housing Mortgage Loans RHS KY

– Eligible Rural  Area Change for Kentucky USDA and Rural Housing Mortgage Loans RHS KY

Kentucky Mortgage Usda Loan Zero Down Home Loans Still Exist
On March 26, 2013, the President signed “H.R.933 – Consolidated and Further
Continuing Appropriations Act, 2013” which provided funding through September 30,
2013. The Bill also extended the eligible rural areas that were in effect as of September
30, 2012 until September 30, 2013 for Kentucky Rural Housing Service (RHS) housing programs.
Barring any Congressional action, implementation of the 2010 Census Data is on
schedule for October 1, 2013, which will modify the eligible rural areas for the Kentucky USDA Rural Development loan  RHS
housing programs.

 

The future eligibility maps can be viewed on the Kentucky USDA Eligibility
web site at: http://eligibility.sc.egov.usda.gov. Due to these changes, some of the areas
that were previously eligible for Kentucky USDA financing will no longer qualify for the
program.

 
This change will significantly affect the processing and underwriting of USDA loans.
The national USDA office has advised that a complete loan guarantee request received by
the USDA office on or before September 30, 2013, will not be subject to the new rural
area designations that will take place on October 1, 2013. Applications received by close
of business on September 30, 2013 and processed on, or after, October 1, 2013, due to
state loan processing times will be subject to the newly designated rural areas if the
application is incomplete.

502 905 3708
We t will make every effort to get your Rural Development loan packages
submitted to the appropriate USDA office prior to the deadline. However, we urge you
to review the new data to determine what the impact is in your area. For those areas that
will not be eligible after October 1, you must get the complete loan packages in to
early so that the conditions can be cleared and the loans submitted to USDA
prior to the deadline

 

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Kentucky Rural Development and Rural Housing USDA Loan Program

Kentucky Rural Development and Rural Housing USDA Loan Program

    1. General Information

The Rural Housing Service (RHS) provides a number of housing and community facility programs in rural areas. The direct rural housing programs provide subsidy for home ownership, rental housing, home repairs, and rehabilitation. Only one of 16 direct programs is not subsidized. RHS also has two unsubsidized loan guarantee programs. All RHS housing, except Section 514/516 Farm Labor Housing, must be located in rural areas as defined in this guide. The programs are carried out by the Department of Agriculture’s Rural Development staff through a network of local, area, and state offices. Offices can be located through Rural Development’s website.

RHS’s funding priorities have gradually shifted from a focus on making direct loans to an emphasis on guaranteeing loans made by private lenders and/or partnering with states and the private sector to make leveraged loans. This change is intended to extend limited federal appropriations.

Most applications for the direct single-family housing programs are received, processed, and approved by Rural Development employees, primarily in local offices (previously known as county offices). Local office staff also provide counseling, supervision, and site inspection, in addition to assisting with multifamily applications. Loan servicing is now centralized at an office in St. Louis, Mo. Applications for multifamily assistance are processed in the area or state offices depending on the structure approved in each state. Rural Development staff also serve as field staff for the two other Rural Development agencies – the Rural Utilities Service and the Rural Business-Cooperative Service.

Program instructions and applicable forms are available at the Rural Development website at http://rdinit.usda.gov/regs or at Rural Development offices.

It is useful to understand the following general information before discussing RHS housing programs.

      1. Definitions
        1. Rural Areas. With the exception of its farm labor housing program (Sections 514/516), which is also available in urban areas, RHS/Rural Development makes housing loans and grants only in rural areas. Each Rural Development local office maintains a map delineating eligible rural areas. Different definitions of “rural” apply to USDA’s community facility (e.g., water and waste disposal) and business loan programs. These programs are discussed in later sections of this guide. For all housing programs, RHS defines rural as: 1) open country that is not part of or associated with an urban area, or 2) any town, village, city, or place, including the immediately adjacent densely settled area, that:
          • has a population not in excess of 2,500 and is not part of or associated with an urban area;
          • has a population under 10,000 and is rural in character;
          • has a population under 20,000, is outside a Metropolitan Statistical Area (MSA), and has a serious lack of mortgage credit for low-income families, as agreed to by the Secretaries of Agriculture and Housing and Urban Development (Rural Development district or local offices provide a listing of eligible areas with populations under 20,000); or
          • was determined to be rural prior to October 1, 1990 and whose population after the 1990 decennial Census did not exceed 25,000 (this provision may be changed – either to update it when data from the 2000 Census become available or, as proposed in Congress in 2000, to maintain eligibility based on the 1980 Census through 2010).
          • Specifically accepted as rural are Pajero, Calif.; Guadalupe, Ariz.; Plainsview, Texas; and Altus, Okla.
        2. Income Limits. Very low-, low-, and moderate-income families or individuals may be eligible for RHS housing. Funding for new loans is currently limited to very low- and low-income applicants, with the exception of Section 502 guaranteed loans and Section 515 rental projects, for which moderate-income households are also eligible. A family’s adjusted income determines both its eligibility for RHS housing assistance and the level of assistance provided. RHS uses HUD’s determinations of low and very low income levels, which are established by county or by Metropolitan Statistical Area. RHS has a unique definition of moderate income, however; generally moderate income is $5,500 over the area’s low-income ceiling. Income limits are available at http://www.huduser.org/datasets/il.html or from Rural Development offices.
        3. “Credit Elsewhere” Conditions. In general, an applicant for an RHS housing loan must be unable to obtain credit elsewhere on reasonable terms and conditions. The restriction does not apply, however, to public housing agencies or to any other public body applicant. This requirement is clearest in the case of home mortgage borrowers. The “credit elsewhere” criterion for Section 515 rental project loans refers to the project sponsor’s ability to obtain credit enabling it to provide housing with rents affordable to eligible households.
        4. Housing Types and Costs. Housing or public facilities built under RHS programs must be modest and must meet the minimum standards for the voluntary national model building codes adopted in each state, as well as RHS thermal and site standards. The housing may be located on scattered sites or in a subdivision.

         

      2. Programs for Persons with DisabilitiesTitle V of the Housing and Community Development Act of 1977 and the Americans with Disabilities Act extended the use of RHS programs for elderly people to include persons with disabilities. Regulations for each program specify the benefits for which persons with disabilities are eligible. Provisions of the 1988 Fair Housing Act apply.
      1. DemonstrationsRHS/Rural Development will consider applications to demonstrate housing design, systems, financing mechanisms, etc. that do not conform to agency regulations but do adhere to the law. Demonstrations are authorized through the RHS National Office. Administrative Notices describing how to apply for demonstration funding are usually published each fiscal year.
      1. Housing LocationRHS has rules covering housing location. The primary regulation is Instruction 1924-C, which contains a site approval process. The agency environmental regulations (Instruction 1940-G) and specific program instructions also regulate housing location within eligible rural areas.
      1. AppealsMost adverse decisions may be appealed administratively. USDA has a separate appeal staff that conducts hearings and has the authority to overturn decisions. The appeal staff central office may also review decisions made by hearing officers. The covering regulations are presently in 7 CFR Part 11 and Instruction 1900-B. A separate grievance and appeal procedure (Instruction 1944-L) is maintained for tenants in RHS-financed rental housing, including that for farmworkers. Decisions made in connection with Section 502 guaranteed loans are essentially not appealable.
      1. AuthorizationThe RHS housing programs are authorized in Title V of the Housing Act of 1949, as amended. The number cited for each program (502, 504, etc.) refers to the section in Title V.
      1. Targeted AreasRHS annually sets aside a percentage of Section 502 direct, 504 loan and grant, 515, and Rental Assistance funds for areas targeted due to the extent of poverty and deficient housing. These implement the specific percentage set-aside of funds to counties required in Section 509(f) of the law. Specific set-aside information can be found in annual exhibits to Instruction 1940-L. A packaging grant program is operated as a capacity building component of Section 509(f) and is available to 300 counties whose occupied substandard housing is 10 percent or higher and whose poverty rate is 20 percent or more.
    1. HAC ManualsHAC has developed and maintains manuals to assist in understanding and using the RHS rural housing programs. These publications are periodically updated as regulations are amended and include:

      Section 502 Homeownership Direct Loans
      Section 504 Very Low-Income Repair Loans and Grants
      Section 514/516 Farm Labor Housing Program
      Section 515 Rural Rental Housing
      Section 515 Rural Cooperative Housing
      Section 533 Rural Housing Preservation Grants
      Section 538 Guaranteed Rural Rental Housing
      Environmental Regulations
      Appealing RHS/Rural Development Decisions
      Preventing Displacement in RHS/Rural Development Rural Rental Housing

      Where links appear in this list, the guides are available free on HAC’s website. Print copies of any of the guides may be ordered, for the cost of copying and postage, from HAC’s Washington, D.C. office.

  1. Homeownership Direct Loan Program (Section 502 Direct) (CFDA 10.410)The Section 502 program has two major parts: direct loans and guaranteed loans. The two share a single CFDA number, but are described separately here.
      1. PurposeSection 502 direct mortgage loans enable low- and very low-income households to purchase, build, repair, renovate, or relocate houses, including manufactured homes. These loans are also used to purchase and prepare sites and/or to provide water supplies and sewage disposal for sites. Section 502 loans may be used to refinance debts when necessary to avoid losing a home or when required to make necessary rehabilitation of a house affordable.
      2. EligibilityEligible applicants must have very low or low incomes. Adjusted income ceilings are the same as for the HUD Section 8 Housing Choice Voucher program, and are available at http://www.huduser.org/datasets/il.html or from Rural Development or HUD offices. Families must be without adequate housing; able to afford the mortgage payments, taxes and insurance, typically within 22 to 26 percent of their incomes; and unable to obtain credit elsewhere. They must have reasonable credit histories. Priority is provided to families with hardships, including those living in deficient housing; to participants in mutual self-help housing; to servicing loans; and to participation loans.
      1. TermsLoans are for terms up to 33 years (38 years for those with incomes below 60 percent of the area median and who cannot afford 33-year terms, or 30 years for manufactured homes). No down payment is required. The promissory note interest rate is set by RHS. Payment assistance subsidy is provided and is directly related to the applicant/borrower’s adjusted income as a percentage of area median income. Families without leveraged loans must pay a minimum of 22, 24, or 26 percent of their income (the percentages depend again on their income as a percent of area median) for principal, interest, taxes, and insurance (PITI) up to an amount not exceeding the promissory note rate. Families with leveraged (participation) loans are not required to meet the 22, 24, or 26 percent of adjusted income conditions.
      1. StandardsHousing built under the Section 502 program must be modest. As of March 24, 2003, a modest home is defined as one with a market value below the limit established for its state. The limit for a state can be established by a formula that takes cost into account, or it may be a limit set by the state housing finance agency or by HUD’s Federal Housing Administration for Section 203(b) loan guarantees. Check with a Rural Development office to find the limits applicable in a particular place. Houses constructed, purchased, or rehabilitated must comply with the voluntary national model building code adopted for the state as well as with RHS thermal and site standards. Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and RHS thermal standards.
      1. CommentsRHS is authorized to compensate Section 502 borrowers for construction defects.
      1. Variationsi) Deferred Mortgage Payment Demonstration. For very low-income applicants unable to afford payments at 1 percent for 38 years, up to 25 percent of the required payment may be deferred. This option can reduce required incomes by 10 to 20 percent. However, the program has not been re-authorized or funded since FY 1995.

        ii) Rural Housing Demonstration Program. This program finances innovative housing that does not meet existing published standards, rules, regulations, or policies, provided that the housing is not constructed contrary to law and does not present an impediment to health or safety. Ten million dollars is available annually for this purpose. RHS issues an annual Notice of Funding Availability, usually in December.

        iii) Guaranteed Homeownership Loans. The Section 502 guaranteed program is discussed in more detail below.

        iv) Conditional Commitments. For a fee of $350, which includes appraisal and inspection, builders or manufactured home contractors may receive a commitment by Rural Development to finance a given house, conditioned on sale to a qualified applicant and the availability of funds.

        v) Homeownership Loan Inventory Program. From time to time, RHS/Rural Development has homes for sale that have been acquired through liquidation of loans. These homes may be purchased with Section 502 credit. Priority is given to those eligible for the program and to applicants for the purchase of these “inventory” homes. When no eligible applicants apply, the homes are available for others. Following price reductions, the homes are again first available only to households eligible for Section 502.

      1. ApprovalRural Development local managers have authority to approve most Section 502 loans. Decisions on applications should be made within 30 to 60 days if no backlog exists.
      1. Availability of FundsAppropriated funds are apportioned for use by quarter for each fiscal year. After national and designated reserves are deducted, the balance is allocated to states by formula. RHS pools its unused money each fiscal year, usually in mid-summer. The demand for funds normally exceeds supply and RHS may choose to make all unused funds available on a first come, first served basis. Over-subscription in the program has resulted in more restricted, computerized pooling, but eligible applicants with viable applications should request processing even if a local or state office has used its initial allocation.
      1. Basic Instruction7 CFR Part 3550 subparts A, B, D and E and HB-1-3550
    1. ContactContact a Rural Development office.
  2. Homeownership Guaranteed Loan Program (Section 502 Guaranteed) (CFDA 10.410)
      1. PurposeLike direct loans, Section 502 guaranteed mortgage loans may be used to purchase, build, repair, renovate, or relocate houses, including manufactured homes; to purchase and prepare sites and/or to provide water supplies and sewage disposal for sites; and in some circumstances to refinance debts. A guaranteed loan is made by a bank or another private lender rather than by RHS/Rural Development, and RHS/Rural Development guarantees repayment if the borrower defaults.
      1. Eligibilityi) Borrower. Eligible applicants must have incomes below 115 percent of area median income. Like Section 502 direct borrowers, families must be without adequate housing; able to afford the mortgage payments, taxes and insurance; and unable to obtain credit elsewhere. They must have reasonable credit histories.

        ii) Lender. Lenders must be approved by RHS/Rural Development.

      1. TermsLoans are for terms up to 30 years. The promissory note interest rate is set by the lender. No down payment is required. Currently, the program is limited to unsubsidized loans. The subsidy, when available, provides interest assistance and is based solely on income.
      1. StandardsThis program previously used the HUD 203(b) limits to denote “modest,” but had to stop using them due to an adverse legal ruling. For this program, then, a “modest” home is one whose price the applicant/borrower can afford to pay. Like those financed by Section 502 direct loans, houses constructed, purchased, or rehabilitated with Section 502 guaranteed loans must comply with the voluntary national model building code adopted for the state as well as with RHS thermal and site standards. Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and RHS thermal standards.
      1. CommentsBecause of the differences in interest rate and subsidy, the guaranteed program serves a much higher income level than the direct loan program.
      1. ApprovalRural Development local managers have authority to approve most Section 502 guaranteed loans. Decisions on applications should be made within 30 to 60 days if no backlog exists.
      1. Basic Instruction7 CFR Part 1980
    1. ContactContact a Rural Development office.
  3. Very Low-Income Housing Repair Loans and Grants (Section 504) (CFDA 10.417)
      1. PurposeLoans up to $20,000 and grants up to $7,500 (loans and grants can be combined up to $27,500) are provided to very low-income homeowners to repair, improve or modernize their dwellings or to remove health and/or safety hazards, and to make dwellings accessible for household members with disabilities.
      1. Eligibilityi) Loans. Eligible homeowner-occupants must have incomes below 50 percent of area median and be unable to obtain affordable credit elsewhere. Applicants must need to make repairs and improvements to make their dwellings more safe and sanitary or to remove health and safety hazards.

        ii) Grants. Grants are available only to those homeowners 62 years of age or older who cannot repay part or all of Section 504 loans. Grant funds may be used only to pay for repairs and improvements resulting in removal of health and/or safety hazards. If a person can pay part of the cost, a combination grant and loan is made.

      1. TermsLoans are for a period of up to 20 years at 1 percent interest. A grant may be recaptured if the property is sold in less than three years.
      1. SecurityReal estate mortgages are required for loans of $7,500 or more. Full title services are required for loans of $7,500 or more.
      1. StandardsRepaired properties do not need to meet other RHS code requirements, except that installation of water and waste systems and related fixtures must meet local health department requirements. Water supply and sewage disposal systems should normally meet RHS requirements. All work must meet local codes and standards.
      1. ApprovalThe Rural Development local office should make a decision on an application within 30 to 60 days if no backlog exists.
      1. CommentsNot all the health and safety hazards in a home must be removed with Section 504 funds, provided major health and safety hazards are removed. The covering regulations provide for a liberal interpretation of the term “owner.”
    1. Basic Instruction7 CFR Part 3550 Subpart A, C, D and E and HB-1-3550

Kentucky Rural Housing USDA Guidelines

Kentucky Rural Housing and USDA Credit Score Requirements, Kentucky Rural Housing USDA Guidelines 2011, Kentucky USDA Loan Adjusted Maximum Income Limits by County, Kentucky USDA Loans, Kentucky USDA/Rural Housing Areas, no down payment, QUICK GUIDE for Kentucky USDA Rural Development Housing Loan, rhs, rhs loans kentucky, rural housing, Rural Housing Loans No Money Down Program, usda, USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixedKentucky Rural Housing and USDA Credit Score Requirements, Kentucky Rural Housing USDA Guidelines , Kentucky USDA Loan Adjusted Maximum Income Limits by County, Kentucky USDA Loans, Kentucky USDA/Rural Housing Areas, no down payment, QUICK GUIDE for Kentucky USDA Rural Development Housing Loan, rhs, rhs loans kentucky, rural housing, Rural Housing Loans No Money Down Program, usda, USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fiThis website is not an government agency, and does
not officially represent the HUD, VA, USDA or FHA or any other government agency.

DIFFERENCES BETWEEN THE SECTION 502 GUARANTEED AND DIRECT LOAN PROGRAMS

DIFFERENCES BETWEEN THE SECTION 502 GUARANTEED AND DIRECT LOAN PROGRAMS FOR RURAL DEVELOPMENT RHS 

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There are several other Section 502 loan programs, but the only one that approaches the guaranteed program in number of loans made is the Homeownership Direct Loan Program

This program once accounted for almost all the Section 502 loans, but the number of guaranteed loans has greatly increased in the last few years. In Fiscal Year 2001, the guaranteed program obligated approximately $2.3
billion for 29,326 loans, while the direct program obligated approximately $1.07 billion for a total of 14,789 loans. The important differences between the Section 502 guaranteed and direct loan programs are as follows:

ƒ The lender for Section 502 guaranteed loans is a private savings and loan institution, bank, or mortgage company which also handles all the loan servicing. The lender for the direct program is the Rural Housing Service; Rural Development handles the servicing.

ƒ Income levels for Section 502 guaranteed borrowers are capped at 115 percent of the area median income. Income levels for the direct program must be no more than 80 percent of the AMI. ƒ Payment assistance subsidy is not available 
through the guaranteed program. Payment assistance, which can reduce the interest paid on the mortgage to as low as 1 percent, is available for borrowers in the direct program and is based on the borrower’s income as a percent of AMI.
ƒ Borrower protections differ between the programs. Applicants for guaranteed loans do not have the rights of moratorium or of appeal that accompany the direct program. Also, in the case of default, Section 502 guaranteed loans are liquidated by
the commercial lender, while direct loans are liquidated by the government

Louisville Kentucky Mortgage Rates

ADDITIONAL INFORMATION

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell

kentuckyloan@gmail.com

502 905 3708

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities

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As of Thursday, March 28, 2013, RHS  or Rural Housing Loans will use the 2010 Census Data for Kentucky cities, which will impact certain cities in regards to their eligibility for RHS or USDA , rural housing  loans in Kentucky .  Unless there are other changes to this regulation, the cities that would become ineligible include:

Kentucky USDA and Rural Housing Guaranteed Home Loan Program

Joel Lobb (NMLS#57916)Senior  Loan Officer

502-905-3708 cell

502-813-2795 fax

jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Fill out my form!

 

 

Kentucky USDA Loans | Rural Housing Loans Kentucky

Kentucky USDA Loans | Rural Housing Loans Kentucky.

via Kentucky USDA Loans | Rural Housing Loans Kentucky.

100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans

Buy a Home with No Down-Payment or Refinance Your Mortgage to 100% Just a few years ago, most mortgage companies offered no money down home loans, but today only there are only a handful of experienced lenders offering the USDA and VA home loans. Don’t miss out on affordable mortgage rates for no equity mortgages. Now is the time to discuss no money down home buying or no equity refinancing while rates are low and the programs still exist.

 

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Joel Lobb
Senior  Loan Officer
(NMLS#57916)
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 Rural Development, Rural Housing Service Properties for Sale in Ky.

Kentucky Rural Development, Rural Housing Service Properties and homes for Sale in Ky. 

Kentucky
Click on an address to view detailed property information.
City Address Bed Bath Agency
Artemus 1008 Ramsey Branch RD, 40309   0   0.0    RD
Bagdad 235 Jacksonville Road, 40003   2   1.0    USMS
Bagdad 1771 Lebanon Ridge Road, 40003   3   2.0    USMS
Bardstown 1009 W. Milestone Court, 40004   0   0.0    RD
Calvert City 244 Arizona Street, 42029   0   0.0    RD
Corbin 332 Forego Trail, 40701   0   0.0    RD
Corbin 96 Sandy Hill Circle, 40701   0   0.0    RD
Custr 7066 Highway 1073, 40115   0   0.0    RD
Cynthiana 168 Cedarbrook Drive, 41031   0   0.0    RD
Elkton 1410 Blue Gray Parkway, 42220   0   0.0    RD
Eminence 314 Vernon Street, 40019   0   0.0    RD
Ezel 14699 Hwy 460 W, 41425   0   0.0    RD
Ezel 1785 Hwy 882, 41425   0   0.0    RD
Falmouth 8137 HWY 10 N, 41040   0   0.0    RD
Frenchburg 528 Lantern Way, 40322   0   0.0    RD
Georgetown 103 Blackberry Ridge Ct, 40324   4   3.5    USMS
Grayson 610 Holcomb St, 41143   0   0.0    RD
Grayson 466 Leadingham Branch, 41143   2   1.0    USMS
Harlan 105 Sally Rachel Rd, 40831   0   0.0    RD
HICKMAN 106 BERNAL ST, 42050   0   0.0    RD

 

City Address Bed Bath Agency
INDEPENDENCE 30 PEACH DRIVE, 41051   0   0.0    RD
Irvine 25 McClanahan Court, 40336   0   0.0    RD
Lawrencburg 1808 ADDALYNE CT, 40342   0   0.0    RD
Lawrenceburg 104 HOLLY COURT, 40342   0   0.0    RD
Lawrenceburg 1516 BROOKE DRIVE, 40342   0   0.0    RD
Manchester 229 Laurel Heights Road, 40962   0   0.0    RD
McKee 447 TURKEY FOOT RD, 40447   0   0.0    RD
Monticello 102 Wells Court, 42633   0   0.0    RD
Mt. Sterling 287 Woodland Lane, 40353   0   0.0    RD
OWENSBORO 5438 DIANA AVE, 42301   0   0.0    RD
Perryville 141 SOUTHERN DRIVE, 40468   0   0.0    RD
Prestonsburg 25 Herald Lane, 41653   0   0.0    RD
Prestonsburg 1476 Ruff and Tuff Br, 41653   0   0.0    RD
Raceland 517 Greenup Ave., 41169   0   0.0    RD
Russellville 218 Center Street, 42276   0   0.0    RD
Scottsville 906 East Walnut, 42164   0   0.0    RD
Scottsville 422 SOUTH 3RD ST, 42164   0   0.0    RD
Sitka, KY 4888 KY RT 1559, 41255   0   0.0    RD
Somerset 5323 Beechwood Drive, 42501   0   0.0    RD
Somerset 249 Ridgeview Drive, 40741   0   0.0    RD
City Address Bed Bath Agency
Stanford 175 Young Dr., 40484   0   0.0    RD
Stanford 180 Robin Dr, 40484   0   0.0    RD
TOLLESBORO 6560 WEST KY 10, 41189   0   0.0    RD
West Paducah 7520 Nathan Drive, 42086   0   0.0    RD
Williamsburg 1355 New Zion Road, 40769   0   0.0    RD
Williamsburg 274 Shelby Hurst Rd, 40769   0   0.0    RD
Wilmore 324 Wise Drive, 40390   0   0.0    RD
Wilmore 609 TOCHER DR, 40390   0   0.0    RD
WINCHESTER 110 COLONIAL PARK DRIVE, 40391   0   0.0    RD
Winchester 608 Dixiana Dr, 40391   0   0.0    RD
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities Bardstown Burlington Elizabethtown Georgetown Independence Nicholasville Shelbyville Shepherdsville

 

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities

New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities

 

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As of Thursday, March 28, 2013, RHS  or Rural Housing Loans will use the 2010 Census Data for Kentucky cities, which will impact certain cities in regards to their eligibility for RHS or USDA , rural housing  loans in Kentucky .  Unless there are other changes to this regulation, the cities that would become ineligible include:

  • Bardstown
  • Burlington
  • Elizabethtown
  • Georgetown
  • Independence
  • Nicholasville
  • Shelbyville
  • Shepherdsville

 

 

 

 

 

Kentucky USDA and Rural Housing Guaranteed Home Loan Program

 

 

Joel Lobb (NMLS#57916)Senior  Loan Officer

502-905-3708 cell

502-813-2795 fax

jlobb@keyfinllc.com

 

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

 

 

 

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Related Articles

Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013

Kentucky Rural Housing and USDA Property Eligibility Requirement Changes March 27,2013

by Louisville Kentucky Mortgage

 

Kentucky Rural Housing and USDA Property Eligibility

 

 Beginning March 27, 2013, RHS  will begin using the 2010 Decennial Census data to determine property and income eligibility for Kentucky properties for USDA and Rural Housing Loans in Kentucky . This means that a borrower in any area which has experienced a significant change in population and/or median income between 2000 and 2010 may lose eligibility for the Kentucky Rural Housing or USDA RHS Loan Program. Loans on hand will be allowed to continue using the 2000 Census data eligibility requirements only if there is a completed loan application (and all the documentation that entails) dated on or before March 26, 2013. Any loan using the 2000 Census data eligibility requirements must close and fund by September 30, 2013.

 

RHS or Rural Housing / USDA  has not yet released a list of the county specific changes that will occur for Kentucky Properties. . We encourage everyone to make their borrowers aware that changes will occur and to try and get applications completed  for a Kentucky USDA Property by March 26th for any cases where continued eligibility may be in jeopardy.


 

Joel Lobb (NMLS#57916)Senior  Loan Officer

 

502-905-3708 cell

502-813-2795 fax

jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*

 

107 South Hurstbourne Parkway*
Louisville, KY 40222*

 

Fill out my form!