Kentucky USDA Mortgage Loans get Drastically Lowering Costs for Buyers

Kentucky USDA Mortgage Loans get Drastically Lowering Costs for Buyers

Here's an example of the savings: The current funding fee on a $100,000  purchase would be about $2,50  financed on top of the loan but 1% would make it just a little over $1,000.  That is a great savings, then there will be an additional lower payment because of the lower annual fee. For example on the monthly payment savings you are now looking at about an $14 monthly difference in your monthly payment.

Not only buyers looking for a no money down purchase at a great fixed rate can take advantage of this but also borrowers with a  current USDA loan can use these features to refinance to a new USDA loan even with no appraisal
.  


Call us for questions/scenarios you have and approving buyers up-front or if you have an issue on a borrower. 







-- 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)



 phone: (502) 905-3708
 Fax:     (502) 327-9119







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Kentucky FHA, VA, USDA Appraisal Requirements for Mortgage Loans.

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http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu








Joel Lobb (NMLS#57916)

Senior  Loan Officer

Text/call 502-905-3708

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 MB73346


 kentuckyloan@gmail.com



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#57916 http://www.nmlsconsumeraccess.org/






Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Development Housing Loans Cred...

Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Development Housing Loans Cred...

KHC has $5 million in special funding available at 2.00 percent fixed interest rate for 30 years for Kentucky Home Buyers in 2016

2.00 percent fixed interest rate for 30 years for Kentucky Home Buyers in 2016 from KY Housing


 
KHC has $5 million in special funding available at 2.00 percent fixed interest rate for 30 years. The Mortgage Revenue Bond (MRB) Special Funding Program is available on a first-come, first-served basis, with reservations available on Monday, March 7, 2016. New reservations only. 
Who can qualify for this deal?
  • Households that do not exceed $35,000 gross annual income, and meet ONE of the following:
    • At least one home buyer is 62 years old or older.
    • At least one member is disabled and is receiving disability income.
    • A single- or two-parent household with at least one dependent child under the age of 18 living in the home.
Special Funding qualifications included:
  • Must be a first-time home buyer, unless property in targeted county.
  • Existing and new construction (purchase price limit of $115,000).
  • Regular and Affordable Down payment Assistance Program available.
  • 640 minimum credit score.
  • FHA, VA, and RHS first mortgage options.




 


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