Must be in a rural area as determined by USDA Rural Development. (Website–
No Manufactured homes.
Homes with in-ground pools are eligible on a case-by-case and value of pool must be
subtracted as no financing available for pools. N/A on refinance loans.
Land value not to exceed 30% of total value.
All improvements– repairs must be complete prior to closing, no escrow holdbacks
The property must be non-farm, non-income providing tract.
Appraiser to certify property meets current requirements of HUD Handbooks–
150.2 and 4905.1.
Appraisals are valid for 6 months. If over 6 months a new appraisal is required.
Properties having community wells or sewage systems will require a state operating
permit, evidence of compliance with the Safe Drinking Water Act and Clean Water
Act and a legal binding contract to enforce the obligation of the operator to provide
satisfactory service at reasonable rates-must be maintained in our file.
Senior Loan Officer
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*