USDA Rural Housing on or after October 1, 2020, will continue to require an upfront guarantee fee of 1 percent accompanied by an annual fee of 0.35 percent

Per the Fiscal Year 2021 Commitment Notice released September 14, 2020, funding for the USDA Rural Housing Loan Program will be temporarily unavailable beginning October 1, 2020.

Fiscal year 2021 begins October 1, 2020 and ends at the close of business September 30, 2021. The guaranteed loan program is not available for a brief period of time at the beginning of each fiscal year, and during the temporary lapse in funding, Rural Housing Development will issue Conditional Commitments “subject to the availability of commitment authority” for purchase and refinance
transactions.

As a reminder, all loans obligated by USDA Rural Housing on or after October 1, 2020, will continue to require an upfront guarantee fee of 1 percent accompanied by an annual fee of 0.35 percent, applicable to all Rural Housing transactions.

Mortgage Application Checklist of Documents Needed below  👇

W-2 forms (previous 2 years)
Paycheck stubs (last 30 days – most current)
Employer name and address (2 year history including any gaps)
Bank accounts statement (recent 2 months – all pages
Statements for 401(k)s, stocks and other investments (most recent)
federal tax returns (previous 2 years)
Residency history (2 year history)
Photo identification for applicant and co-applicant (valid Driver’s License

click on link for mortgage pre-approval

Joel Lobb (NMLS#57916)

Senior Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223

Company ID #1364 | MB73346

Text/call 502-905-3708

kentuckyloan@gmail.com

If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/

NMLS Consumer Access for Joel Lobb

Accessibility for Website

Privacy Policy

Kentucky USDA Rural Development Guarantee Fee Increasing on October 2014

 

 

Kentucky Rural Housing USDA Loans will increase the annual guarantee fee from 0.4% to 0.5% of the unpaid principal balance for loans obligated on or after October 1, 2014. The upfront fee will remain at 2.0%.

 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
 

.