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Kentucky USDA Rural Development Fee Reduction
USDA has just announced that they are planning to lower both the Guarantee Fee and the Annual Fee for RHS loans in Fiscal Year 2017. Effective for loans receiving commitments from RHS on or after October 1, 2016, the following fee changes will be in effect
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KENTUCKY USDA UP-FRONT GUARANTEE FEE INCREASE
KENTUCKY USDA UP-FRONT GUARANTEE FEE INCREASE
As announced by Rural Development, the upfront Guarantee Fee for purchase and refinance loans will increase as follows for Rural Housing USDA loans in Kentucky:
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EFFECTIVE 10/1/15
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All Transactions
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2.0%
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2.75%
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The new fee structure is applicable to all Conditional Commitments issued by Rural Development on or after October 1, 2015. Loan guarantee requests submitted to Rural Development (RD) on which a conditional commitment has not been issued by September 30, 2015, will be subject to the new, higher guarantee fee structure.
| Kentucky USDA Guaranteed Rural Housing Loans are one of the only “no money down” options available to home buyers today. Kentucky USDA loans aren’t just in the country. Many other areas fall within the USDA Kentucky Rural Housing designated areas, so opportunities may be closer than you think. To view eligible rural areas near you, CLICK HERE to access the USDA lookup tool on their website. This program is very attractive to low-to-moderate income buyers: |
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KY USDA Homes for Sale
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Joel Lobb
Senior Loan Officer
Senior Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
phone: (502) 905-3708
Fax: (502) 327-9119
Company ID #1364 | MB73346
Bullitt County Kentucky USDA Home Loan and Rural Housing Loans for Bullitt County KY
Bullitt County Kentucky USDA Home Loan and Rural Housing Loans for Bullitt County KY.
via Bullitt County Kentucky USDA Home Loan and Rural Housing Loans for Bullitt County KY.
Bullitt County, Bullitt County Kentucky, first time buyer, Home, Hurstbourne Kentucky, Kentucky, Loan, Loan officer,louisville, Louisville Kentucky, Mortgage, Real Estate, Rural housing, United States, United States Department of Agriculture, USDA, zero down.
USDA Lending Tip; Eligible Homes Locator Map
USDA Lending Tip; Eligible Homes Locator Map.
via USDA Lending Tip; Eligible Homes Locator Map.
| Type of Mortgage | Conventional Loan | FHA Loans | Conventional Financed MI | Conventional Lender Paid MI |
| Purchase Price | $300,000 | $300,000 | $300,000 | $300,000 |
| Mortgage Amount W/5% Down | $285,000 | $289,987 | $289,547 | $285,000 |
| Interest Rate W/1.75 points | 5.25% | 4.50% | 5.25% | 5.75% |
| Principal Interest Payment | $1,573.78 | $1,469.90 | $1,626.50 | $1,663.11 |
| Mortgage Insurace Payment | $185.25 | $118.75 | Built into MTG | Built into MTG |
| Total Mortgage Payment-P&I and Mortgage Insurance | $1,759.03 | $1,588.67 | $1,626.50 | $1,663.11 |
| Monthly Saving | Winner against all 3 read below |
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Kentucky USDA Mortgage Lender for Rural Housing Loans 