FHA/VA KHC USDA Kentucky Mortgage:


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Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: KENTUCKY USDA RURAL DEVELOPMENT LOANS ZERO DOWN

 
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: KENTUCKY USDA RURAL DEVELOPMENT LOANS ZERO DOWN: ” KENTUCKY USDA RURAL DEVELOPMENT LOANS Kentucky USDA is a manually underwritten product that has to be delivered to the Local USDA branc…” 

 

   
 

KENTUCKY USDA RURAL DEVELOPMENT LOANS ZERO DOWN

 
 KENTUCKY USDA RURAL DEVELOPMENT LOANS
Kentucky USDA is a manually underwritten product that has to be delivered to the Local USDA branch to give the final UW approval and the Guarantee Commitment.
Borrowers household must meet income requirement *: http://www.rurdev.usda.gov/HSF-Guar_Income_Limits.html
*All household income, must be used to determine if they qualify for RD. (even if they are not on the loan)
Guidelines:
Score –  Middle FICO 620
Tradelines– 3 tradelines with 12 months reporting (2 if we have 12 months rent checks also)    VOR or Rent free letter on every file
Employment – 2 years of employment in same field (recent college graduate – transcripts w/ employment within the field studied)
Funding Fee – 3.5% (see worksheet to determine loan amount)
Loan Amount – 103.5% can be calculated using appraised value if higher.  Allowing all fees to be rolled into the loan amount. 
DTI – Standard USDA DTI’s are 29/41%
Debt ratio waiver to 50% with compensating factors. **
The USDA has a max payment shock of 100%.  
Seller paid closing cost – up to 6%
** Compensating factors would include reserves, down payment, 5 years on job, 24 months rent checks pd on time
CREDIT
BK’s- discharged 3 years (ch 7 or 13)             
Foreclosures- 5 years
Collections- UW judgment, $1500 or less in medical can be left open, all others paid
INELIGIBLE
Titles to be held in a Trust 
Non- Occupying Co-borrower
Leasholds
Escrow Holdbacks for repairs

fill-out my free pre-qualification  form by clicking here for USDA loans !

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33 thoughts on “FHA/VA KHC USDA Kentucky Mortgage:

    1. Current Louisville Kentucky Mortgage Rates Today 05/28/2011

      Best Current Louisville KY Mortgage Rates Today

      I am available from 9 AM to 9 PM daily. I make every effort to take all calls and respond to email promptly.

      Current Mortgage Rates in KY: FHA/VA,KHC,USDA,Conventional

      Current Louisville Kentucky Mortgage Rates for today
      Mortgage Product Mortgage Rates (APR)

      15 Year Fixed Conventional 3.750% 4.135% apr
      30 Year Fixed Conventional 4.375% 4.834% apr
      30 Year Fixed FHA 4.250% 5.275% apr
      30 Year Fixed USDA 4.625% 5.288% apr
      30 year Fixed VA 4.375% 5.189% apr
      30 year Fixed KHC 4.500% 5.377% apr

      Current Louisville Kentucky Mortgage Rates
      Current Rates are subject to qualifying criteria
      Current Rates are subject to change without notice.

      Free Credit Report and Pre qualifications available anytime.

      Key Financial Mortgage of KY is a licensed mortgage broker in the state of Kentucky (NMLS#1800) Key Financial Mortgage of KY is not a part of, nor are we affiliated with, the VA, FHA/HUD, USDA. These entities are a government agency, not a lender. They simply insures the mortgages; they do not loan the money. Joel Lobb (NMLS#57916) is a licensed mortgage loan officer in the state of Kentucky.

      Current Louisville Kentucky Mortgage Rates are updated daily at this blog

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