Kentucky USDA Rural Housing Loans Have Funds Now for 2016 and 2017

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.

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Joel Lobb
Senior Loan Officer
text or call my phone: (502) 905-3708
email me at

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, ( 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.


5 thoughts on “Kentucky USDA Rural Housing Loans Have Funds Now for 2016 and 2017

  1. MRB Special Funding Program–Monies Still Available
    Kentucky Housing Corporation (KHC) still has $1 million in special funding available at 2.00 percent fixed interest rate for 30 years. The Mortgage Revenue Bond (MRB) Special Funding Program is available on a first-come, first-served basis with new reservations only.

    The MRB Special Funding Program flier is available on KHC’s website, under Lenders, Marketing Tools.
    FHA Revises Student Loan Payment Calculation
    The Federal Housing Administration (FHA) revised guidelines for lenders when calculating student loan obligations for use in borrowers’ debt-to-income ratio calculations. Consistent with industry practice, the revised guidance allows the same calculation criteria to be applied regardless of student loan payment plan type, such as income-based payment plans, or deferral status. Lenders may begin using the new guidance immediately, but must use the guidance for all case numbers assigned on or after Thursday, June 30, 2016.

    The new guideline requires the lender to utilize 1 percent of the outstanding balance to establish the monthly payment or use the actual documented payment when the payment is fully amortized over the loan’s term.

  2. Reblogged this on Kentucky VA Mortgage Home Lender and commented:

    100% Rural Housing loan in Kentucky2016 USDA Changes in KentuckyDown Payment Assistance Program – Housing – Louisville KyFannie Mae New Lending Guidelines for KentuckyFirst Time Home Buyer in Kentucky Zero DownFirst Time Home Buyer Program Specialist-Zero Down LoansKentucky First Time Home Buyer Education LinksKentucky Mortgage ApprovalKentucky State Loan ProgramsKentucky State Mortgage RatesLouisville First Time Buyer Mortgages

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