Tuesday, March 11, 2014

Kentucky RHS USDA Underwriting Guidelines for 2014


Kentucky RHS USDA Underwriting Guidelines for 2014


  • As of 12/15/2013 Min credit score of 640 required
  • 30 year term only fixed rate mortgage no prepay penalty
  • 102% LTV max 
  • May finance closing costs if appraised value is higher than purchase price and DTI allows
  • Upfront Guarantee Fee  2%
  • Annual Fee .40%
  • Primary Residence Only
  • DTI allowed to 35/47 for credit scores 
  • Weather related repair escrow allowed for required improvements per appraisal
  • Streamline Program for Kentucky USDA Loans
  • Pilot Program for Kentucky streamline refinance programs

-- 

Joel Lobb
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