Maps for Kentucky USDA Rural Housing Eligible Areas
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Kentucky USDA Rural Housing Applications submitted to RD for borrowers in the affected eligible areas (that will become ineligible) must be complete packages, including any required property appraisals and must be received by RD prior to February 2, 2015, to remain eligible for GRH approval.
USDA/Rural Housing:
USDA or Rural Housing loans are not available in the more highly populated counties in Kentucky . The counties of Jefferson and Fayette Counties are not eligible for USDA loans.
USDA loans require no down payment and are subject to income and property eligibility requirements by County..
Check Kentucky USDA Income Limits Here"----->>>>
Check Kentucky USDA Property Eligibility Limits Here--->>>>
All Kentucky Rural Housing Loans are ran through GUS, Guarantee Underwriting System, an online to determine your loan approval
The Automated Underwriting engine will come back with an Accept, Refer, or Ineligible.
Most USDA mortgage investor want an Accept on the initial underwriting approval to do the loan.
640 is the score that most USDA lenders want, but USDA will go down to a 580 credit score in their guidelines but it is very difficult to get approved.
If you have a score below 640 and trying to go USDA, work on getting your credit scores up first
Joel Lobb (NMLS#57916)
Senior Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
Text/call 502-905-3708
kentuckyloan@gmail.com
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant's eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/
