Kentucky USDA Rural Housing Mortgage Lender

There is a large portion of Kentucky Counties that are eligible for rural housing no money down loans financed by USDA ! Many suburban areas of large MSAs are eligible  in Kentucky– not just for rural areas of Kentucky. USDA’s foot print actually encompasses entire small towns as well as many suburban areas which border cities of large cities and metro areas like, Northern Kentucky Counties of Boone, Kenton, Campbell, along with cities of  Louisville, Lexington, Paducah, Bowling Green, Henderson, and Frankfort KY. Ability to run GUS through USDA for instant loan pre-approval is one of the best features of getting pre-approved for a USDA 100% LTV available in every area of Kentucky that qualified for a USDA loans Click on Link below for map Key Benefits of USDA Loans in Kentucky are as follows: No down payment required in most cases. Low monthly mortgage insurance .35% factor vs FHA which is 85% Typically lower interest rates than ot...

Today I would like to discuss how long you should anticipate that it will take to close on your Kentucky Rural Housing USDA Loan.  The loan approval process for a USDA Loan in Kentucky is not like any other loan when compared to FHA, VA, Fannie Mae Conventional loans.. Like all loan programs, the Kentucky  USDA Loan will have a lender that will assign the loan file to an Underwriter, who in turn will determine if the loan meets the loan program guidelines for approval using the automated software system called GUS, which stands for the Guarantee Underwriting System. . Unlike other loan program, once the loan is approved by the lender/Underwriter, the file will be sent to the local Kentuck USDA Rural Development Office for final approval. The turn time for final loan approval for a rural housing loan varies greatly for Rural Development state offices. While some state offices have same day turn times, other states can take several weeks to ...