Looking for a way to Get 100% Financing on Rural Properties in Kentucky?

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100% FINANCING NO MONEY DOWN ON KENTUCKY RURAL HOUSING LOANS 

What does that mean and how does this Benefit you and Your Borrowers...

  • No down payment on Kentucky Homes located in Rural Areas.
  • Great Rate Options for Kentucky Home buyers in rural areas of Kentucky
  • Lower Credit Requirements vs other programs like, Conventional loans
  • Gift Funds are Allowed on Kentucky USDA loans


Kentucky USDA RURAL HOUSING BENEFITS FOR KENTUCKY HOME BUYERS

  • 550 FICO ALLOWED ON A MANUAL UNDERWRITE
  • No Cash Reserves are Required on Kentucky USDA loans
  • Lower minimum credit score requirement vs other loan programs
  • 6% Seller Concessions Allowed

Eligible Properties for Kentucky Rural Housing Properties.

  • Single Family Detached
  • Condos are Allowed as long as FHA approved
  • Modular Homes are Allowed
  • Leaseholds are Allowed
  • PUDs are Allowed


Feel  free to reach out to me any questions


Joel Lobb  Mortgage Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364

Text/call: 502-905-3708
fax: 502-327-9119
email:
 kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/


NMLS 57916  | Company NMLS #1364/MB73346135166/MBR1574


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 approvalnor 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).


Seller Concessions for Real Estate Commission Fees for 6% Cap on Kentucky USDA Mortgage Loans

The U.S. Department of Agriculture (USDA) has approved a new exemption on seller concessions to meet industry standards while ensuring Kentucky Mortgage borrowers for rural homebuyers in Kentucky remain eligible for affordable financing under the Single Family Housing Guaranteed Loan Program.

This exemption enables Kentucky USDA homebuyers to exclude real estate commission fees from the 6 percent cap on seller, or other interested party, allowances to incentivize a buyer to purchase a home. These concessions may include funding toward the buyer’s mortgage financing costs or loan closing costs.

Under the exemption, real estate commission fees paid by the seller on behalf of the homebuyer will be exempt from this cap to ensure that rural homebuyers will retain affordable access to Kentucky USDA guaranteed home loan financing regardless of changes to real estate commission requirements.

 

Kentucky Rural Housing USDA’s Single Family Housing Guaranteed Loan Program assists lenders in providing low- and moderate-income households the opportunity to purchase safe and affordable homes in rural areas. This change further demonstrates the Biden-Harris Administration's commitment to ensuring that all Americans have an affordable place they can call home and opportunities to build generational wealth through homeownership. 


Joel Lobb  Mortgage Loan Officer

American Mortgage Solutions, Inc.

10602 Timberwood Circle

Louisville, KY 40223

Company NMLS ID #1364


Text/call: 502-905-3708

fax: 502-327-9119

email: kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/ 

NMLS 57916  | Company NMLS #1364/MB73346135166/MBR1574



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).



 

 




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