Looking for 100% Financing, No Money Down Home Loan in KY? Kentucky Rural Housing Development Loans

Looking for 100% Financing, No Money Down Home Loan in KY? Kentucky Rural Housing Development Loans offer:

  • Effective 10/1/2016 the Up Front Guarantee Fee is reduced to 1.0%*
  • No down payment required
  • Up to 6% Seller Concessions
  • Minimum 640 FICO
  • GUS Accept Eligible (lenders run this for you)
  • No Bankruptcies or foreclosure in last 3 years
  • Max household income limits vary from $76k up to $99k depending on family size
  • Home must be in an eligible USDA Area. See links below for income and property 
  • For list of eligible properties: Kentucky USDA Property Eligibility Map?
  • For income eligibility limits: Kentucky RHS USDA Income Eligibility?

Good News for Kentucky First Time Home Buyers Using the USDA Rural Housing Loan Program!

 Most are familiar with USDA Rural Housing Loan Program  being a great no money down program available and it is not just for Kentucky first time buyers
But starting with commitments on October 1, the funding fee that is financed is going from 2.75% to only 1%!  On a $100,000 loan, a buyer saves about $1750!  In addition, the annual fee (like PMI) reduces from .5% to .35% which lowers the monthly payment by $15 a month on an $100,000 loan amount.

Joel Lobb
Senior Loan Officer
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). USDA Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.