- Re-sales of a property less than 90 days after acquisition are not eligible for an Kentucky FHA insured mortgage
- Re-sales occurring between 91 and 180 days of acquisition with a sale price 100% over the original purchase price must have the value supported by a 2ndappraisal
- Re-Sales occurring between 91 days and 12 months of acquisition with a re-sale price 5% greater than the lowest sales price of the property during the 12 months preceding the sales contract may be subject to a 2ndappraisal
- Exceptions to re-sale time restrictions:
- Sales of Kentucky HUD owned properties
- Sales by another agency of the United States Government of REO single family properties
- Sales of properties that were acquired by the sellers through inheritance
- Sales of properties purchased by an employer or relocation agency
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#57916http://www.
-- Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.
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