Monday, November 4, 2013

What are the requirements for Financing on a Guaranteed Rural Housing Loan in Kentucky?

Kentucky Guaranteed Rural Housing
(102% Financing on appraised value)
*               102% Financing based on appraised value, if appraised value exceeds sales price, borrower can finance closing costs! No Down Payment Required.
*               Low  monthly mortgage insurance, 1-time guarantee fee of 2% that can finance above the    appraised value.
*               No asset requirements  USDA Rural Housing Loans are not allowed if you have access to 20%      down and regular conventional financing 
*               No first time home buyer restrictions. Cannot currently own another Kentucky Home.
*               620 minimum credit score
*              6% seller concessions and 100% gifting is allowed – Your borrower can purchase a home with no money of their own in the transaction
*               Geographic and income restrictions apply
 Call me free over the phone for an application or I can email you one to fill-out for free.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell

Fill out my form!