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Showing posts with the label Kentucky USDA Streamline Refinance Pilot

Kentucky USDA Rural Housing Streamline Refinance Guidelines and Rates

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How does a Kentucky USDA streamline ​mortgage ​refinance​ ​work? ​Streamline means you don't have to do a lot of things usually required for a regular mortgage transaction, and is is faster than with most types of refinances. You usually don't need to get an appraisal, and in some cases, you don't even need to show your credit score or debt-to-income ratio​, income documents, like paystubs, bank statements, tax returns etc. ​ ​You have two options in regards to a streamline refinance: your USDA refinance, you have two options: a USDA streamline refinance and USDA streamlined assist refinance. They are both tools for refinancing from one USDA mortgage into a new one, and in most cases, neither requires an appraisal. But there are some key differences between the two. You can do either type of refinance if you have a USDA direct loan (one straight from the USDA) or a USDA guaranteed loan (one you got from a private lender that's backed by the USDA). You shouldn't n...

Getting a Gift for A Mortgage Loan Approval?

Gift Comparison - Eligible Gift Donor vs. Ineligible Gift Donor 1. FHA Definition of a Family Member and USDA definition of a Relative is: child, parent, or grandparent; a child is defined as a son, stepson, daughter, or stepdaughter; a parent or grandparent includes a step-parent/grandparent or foster parent/grandparent; spouse or domestic partner; legally adopted son or daughter, including a child who is placed with the Borrower by an authorized agency for legal adoption; foster child;brother, stepbrother; sister, stepsister; uncle; aunt; or son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law of the Borrower.

Kentucky USDA Rural Housing Loans : Single-Family Housing Guaranteed Loan Program will...

Kentucky USDA Rural Housing Loans : Single-Family Housing Guaranteed Loan Program will... : As a brief reminder, the Fiscal Year for RHS or Kentucky Rural Housing Services  ends on September 30 th .  USDA offices in Kentucky... USDA: Upfront Guarantee Fee and Annual Fee for  Fiscal Year 2017/2018 Release Date:   September 29, 2017 Effective Date:   October 1, 2017 Broker Bulletin #:   2017-47 Overview October 1, 2017 begins the new USDA fiscal year. Effective October 1, 2017, the USDA will  NOT CHANGE  the Upfront Guarantee Fee of 1.00% and the Annual Fee of 0.35% collected monthly. During the annual temporary lapse in funding, Rural Development will issue Conditional Commitments (RD 3555-18/18E) as "Subject to the availability of commitment authority."