I specialize in Kentucky USDA Rural Housing mortgage loans in KY. Apply for free today for a Rural Housing loan Pre-Approval Letter. Same day approvals. I offer the USDA Rural Development Guaranteed Housing Loans for all counties in Kentucky that are eligible. Put my expert advice to use. Call or text 502-905-3708 or email firstname.lastname@example.org
This website is not affiliated with USDA or any other government agency. NMLS# 57916 Equal Housing Lender
1. Lower your interest rate, mortgage insurance premium, and total payment FAST. The USDA will allow you to refinance if your savings is greater than $50.00 per month.
2. Finance up to 100% of your home’s value. The Kentucky USDA Mortgage Loan will allow you to refinance even if you closed at a much higher rate a month ago, there is no seasoning requirement.
3. NO APPRAISAL! That’s right, no meeting for appointments and hoping the value comes in, you already have a Kentucky Rural Housing USDA loan, and therefore you qualify to improve your loan.* (*Only direct borrowers that received subsidy)
4. No Net tangible benefit required!* (*Only the Streamlined Assist – then at least a $50 net reduction to principal, interest, real estate taxes and homeowners insurance (PITI) payments compared to current PITI)
5. No home inspections or calculation of debt ratios. With a GUS Accept, no debt ratio waiver required. With a GUS Refer, debt ratio waiver to meet HB Chapter 11.
This USDA standard streamline program follows generally the same rules as the Streamlined-Assist loan.
No appraisal is required, and underwater homes are eligible. But this option is not as flexible in other ways. For instance, homeowners must provide proof of current income, and meet debt-to-incomestandards that apply to USDA home purchase loans. Additionally, standard streamline borrowers can’t roll closing costs into the new loan. Upfront cash would likely be required.
So, why would a homeowner choose this option? Two reasons:
1.There is no requirement to drop the payment by $50
2.Existing borrowers on the note may be removed if at least one original borrower remains on the loan
So, in the case of divorce, a homeowner might choose a standard streamline loan to remove the ex-spouse. Likewise, if only a $40 per month reduction in payment is being achieved, the homeowner is not eligible for a Streamlined-Assist loan and could choose the standard streamline option.
Complete the information below and I will email a completed pre-qualification certificate. No credit bureau pulled, no obligation. You can always call or text 502-905-3708 to ask questions, or email me at email@example.com if you don't want to fill out this form. Joel Lobb, NMLS# 57916 Equal Housing Lender. This is not a commitment to lend. Subject to credit qualifying criteria and final underwriting approval and guidelines can change without notice. This is not part of any government agency including the USDA and not endorsed by any government agency. I try and respond within minutes of your inquiry but sometimes make take longer due to customers.
Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA