Wednesday, September 4, 2013

KENTUCKY RURAL AND USDA ELIGIBLE RURAL AREA CHANGE REMINDER

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September 3, 2013
KENTUCKY RHS USDA 2010 CENSUS DATA IMPLEMENTATION
KENTUCKY RURAL AND USDA ELIGIBLE RURAL AREA CHANGE REMINDER
 
Barring any Congressional actions, implementation of the 2010 Census Data is scheduled for October 1, 2013, which will modify the eligible rural areas for the Kentucky RHS housing Loan Mortgage programs. The future eligibility area maps can be viewed on the USDA Eligibility web site at: http://eligibility.sc.egov.usda.govTHIS MEANS THAT KENTUCKY USDA AND RURAL HOUSING  PROPERTIES THAT ARE ELIGIBLE TODAY, MAY NOT BE ELIGIBLE ON AND AFTER OCTOBER 1, 2013.
NOTE: COMPLETE applications (including all information necessary to make a final credit, capacity and collateral decision) must be RECEIVED by Kentucky USDA prior to October 1, 2013, in order for USDA to accept the old eligibility areas. It is imperative that all USDA files be sent to  in time for to send the completed file to USDA. Applications received by USDA on and after October 1, 2013, will be subject to the eligible rural area changes. Nothing can be changed once USDA deems the property to be located in an ineligible area.
With the impending change, Plat, we encourage you to submit your Kentucky USDA loans immediately.
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*