Kentucky Mortgage Lender

Kentucky HUD Homes for $100 Down   If you can handle those qualifiers, here's the deal: • You can only buy HUD homes . Go to the HUD  Homes For Sale  web page. • You must use a  HUD-registered  real estate broker or agent. • You must qualify for and use  Federal Housing Administration (FHA)  financing. • You must plan to be an "owner-occupant," buying the property to live in and not as an investment. • The home's purchase price must be no more than the appraised value of the property. If you bid a higher price you can pay the difference in cash, minus $100. • The $100 down incentive must be on the executed contract. That means you have to specifically request the incentive. Your real estate agent should be aware of this provision. • In some cases, HUD will also cover up to 6 percent of the closing costs . • The $100 down payment program is eligible for the  FHA 203(k)  loans. The loans allow borrower...

Updated August 9, 2026 · Reviewed by Joel Lobb, Kentucky Mortgage Loan Officer, NMLS #57916 FHA $100 Down Payment Program in Kentucky: 2026 HUD Home and Repair Escrow Guide Short answer: An eligible Kentucky buyer may be able to purchase an eligible HUD-owned home with a minimum down payment of $100 when the transaction qualifies for HUD’s $100 Down incentive and uses FHA-insured financing. The executed HUD sales contract and addenda must show the incentive. Depending on the property’s condition, financing may use standard FHA 203(b), FHA 203(b) with a repair escrow, or FHA 203(k) renovation financing. Important: $100 down does not mean $100 total cash to close. Closing costs, prepaid taxes and insurance, inspections, earnest money, appraisal-related items, and other expenses may still apply. The borrower, property, contract, appraisal, and loan must all qualify. Start a free Kentucky mortgage pre-qualification , or call/text Joel Lobb at 502-905-3708 . If you a...

Joel Lobb Mortgage Loan Officer Individual NMLS ID #57916 American Mortgage Solutions, Inc. 10602 Timberwood Circle  Louisville, KY 40223 Company NMLS ID #1364 click here for directions to our office Text/call:      502-905-3708 fax:            502-327-9119 email:            kentuckyloan@gmail.com https://www.mylouisvillekentuckymortgage.com/  

Do you know that appraiser required repairs may be financed into an KY FHA loan? Costs of repairs can be added to the sales price before calculating the mortgage amount if: • The repairs are required by the Appraiser to meet HUD’s MPR; • The repairs are paid for by the Borrower; and • The sales contract or addendum identifies the Borrower as the party responsible for payment and completion of the repairs. Up to the maximum allowable amount. Seller can pay for additional repairs. The maximum amount of repair costs that may be added to the sales price is the lesser of: • The amount by which the value of the Property exceeds the sales price; • The Appraiser’s estimate of repairs; or • The amount of the contractor’s bid. See FHA Handbook 4000.1. II.A.2.a https://www.allregs.com/tpl/Main.aspx Example 1: $105,000 Value $100,000 Sales Price $5,000 Appraiser Required Repairs $105,000 Max Cost of Acquisition (Value) X 96.50 $101,325 Base Loan Amount + $1,773.19 UFMI...

The Good Neighbor Next Door Program offers HUD owned single family (one-unit) homes to eligible participants at a 50% discount. Law enforcement officers, teachers, firefighters and other emergency medical technicians who meet all other requirements of the program are all eligible to participate in this program. Program Summary • Borrower is a full-time law enforcement officer, teacher or firefighter/emergency medical technician • A 50 percent discount from the list price is provided in the form of a forgivable second lien • The second mortgage is a mortgage and note payable to and provided by HUD in the amount of the difference between the list price of the home and discounted selling price - The term of the note is 36 months from the date of owner-occupancy - ...

The Good Neighbor Next Door Sales Program The Good Neighbor Next Door Sales Program was established December 1, 2006. This program as many others are revised and/or clarified periodically by a HUD mortgagee letter. Mortgagee Letter 2013 – 20, dated June 12, 2013 was issued to further clarify the program. This program enables eligible program participants to purchase, at a 50 percent discount from the list price , a specially designated HUD acquired single unit home that is located in a HUD designated Revitalization Area. In return, the eligible purchaser must: • Own and live in the home as his/her sole residence for a term of 36 months, and • Execute a note and second mortgage on the home, payable to HUD, for the difference between the list price and the discounted sales price. To qualify to purchase a home through the GNND Sales Program, a potential purchaser must live and work in the community the property is located in and be employed as a: • Law Enforcement Off...