Kentucky Rural Development Guaranteed Loans for USDA Funds are now Available!
USDA Announced TODAY, 10/17/16, that funding is now available with the Rural Development Guaranteed Loan Program! So this means any loans with a “conditional commitment” will be obligated in their system within the next 2-3 days. This should fund this wonderful program through 9/30/17. As you know we are Kentucky Rural Housing USDA experts and are ready to help Kentucky Home
Buyers and Kentucky RHS USDA homeowners!
Looking for 100% Financing?
Check out Kentucky RHS USDA Product!
- Effective 10/1/2016 the Up Front Guarantee Fee is reduced to 1.0%*
- No down payment required
- Up to 6% Seller Concessions
- Minimum 640 FICO
- Aggressive Interest Rates/ Pricing for 30 year fixed rate
- For list of eligible properties: USDA Property Eligibility
- For income eligibility limits: USDA Income Eligibility
*Note – the up front guarantee fee may be financed into the loan
Most are familiar with USDA Rural Housing Loan Program being a great no money down program available and it is not just for Kentucky first time buyers.
But starting with commitments on October 1, the funding fee that is financed is going from 2.75% to only 1%! On a $100,000 loan, a buyer saves about $1750! In addition, the annual fee (like PMI) reduces from .5% to .35% which lowers the monthly payment by $15 a month on an $100,000 loan amount.
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). USDA Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
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