- Kentucky First-time Home Buyer Programs
- Kentucky General Mortgage Guide for Underwriting Approval
- 4 Things you need to know
- Credit Scores Needed for a Kentucky Mortgage Loan
- KENTUCKY FHA MORTGAGE LENDER GUIDELINES
- Zero Down Home Loans available in Kentucky
- Kentucky USDA Rural Development Housing Zero Down
- Kentucky VA Home Loans Mortgage Guidelines
- KHC Loan Programs Down Payment Assistance for 2017
- (HARP) Home Affordable Refinance Program HARP 2.0
- Common Questions from First-time Home-buyers in Kentucky
- Documents Needed for Mortgage Loan Approval in Kentucky
- Glossary /Mortgage Terms
- Mortgage Calculator for Kentucky FHA, VA, USDA, KHC Mortgage Loans
- Locking in your Kentucky Mortgage Loan Rate
- Kentucky FHA/VA Approved Condos
- Do's & Dont's before closing:
- Legal Disclaimers
Tuesday, October 29, 2013
100% financing-Downpayment Assistance and Zero Down Home loans Exist
GRH Guaranteed Rural Housing Program
Talk with us about this 100 percent financing program if you are looking to buy or refinance a single family home in a rural area. All of Kentucky may be eligible by county and income limit. Contact us to verify if your property is eligible.
Some key features include:
- No PMI. That's right, no private mortgage insurance. Like VA, this program has a Guaranteed fee that can be financed into the loan the same way VA loans have a Funding fee.
- 6% seller help/contribution is allowed
- No minimum contribution from your own funds. FHA has a 3.5% requirement. There are also no cash reserves required, as is the case with your typical conventional loan.
- This program only offers a fixed rate option for primary 1 unit residences. Current maximum loan amount is $417,000.
There are income limitations to qualify. Contact a Loan Officer and we will help you find a home where you can take advantage of this great 100% financing program. Contact us to see if your property is eligible for the USDA 100% program.
The VA does not make home loans, they insure them. We are VA approved and can help you with your VA loan request. Some VA benefits include:
- No downpayment is required in most cases
- Borrow up to 100% of purchase price
- Lower closing costs
- Mortgage is assumable
- No Private Mortgage Insurance (PMI)
- No penalties if you prepay the loan
- You may be eligible for waiver of VA funding fee
- VA support during temporary financial difficulties
More on 100% VA financing
FHA financing & down payment help
gift funds are allowed for the entire down payment, closing costs, and pre-paid items. Down payment can come as a gift from a family member, an employer (tip: convert a raise or bonus into down payment assistance), or from a nonprofit institution or government grant.