Showing posts with label USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixed. Show all posts
Showing posts with label USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixed. Show all posts

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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100% financing-Downpayment Assistance and Zero Down Home loans Exist




USDA

GRH Guaranteed Rural Housing Program
100% financing

Talk with us about this 100 percent financing program if you are looking to buy or refinance a single family home in a rural area. All of Kentucky may be eligible by county and income limit. Contact us to verify if your property is eligible.

Some key features include:

- No PMI. That's right, no private mortgage insurance. Like VA, this program has a Guaranteed fee that can be financed into the loan the same way VA loans have a Funding fee.

- 6% seller help/contribution is allowed

- No minimum contribution from your own funds. FHA has a 3.5% requirement. There are also no cash reserves required, as is the case with your typical conventional loan.

- This program only offers a fixed rate option for primary 1 unit residences. Current maximum loan amount is $417,000.



There are income limitations to qualify. Contact a  Loan Officer and we will help you find a home where you can take advantage of this great 100% financing program. Contact us to see if your property is eligible for the USDA 100% program.



VA financing
100% financing

The VA does not make home loans, they insure them. We are VA approved and can help you with your VA loan request. Some VA benefits include:

- No downpayment is required in most cases

- Borrow up to 100% of purchase price

- Lower closing costs

- Mortgage is assumable

- No Private Mortgage Insurance (PMI)

- No penalties if you prepay the loan

- You may be eligible for waiver of VA funding fee

- VA support during temporary financial difficulties



More on 100% VA financing









FHA financing & down payment help

gift funds are allowed for the entire down payment, closing costs, and pre-paid items. Down payment can come as a gift from a family member, an employer (tip: convert a raise or bonus into down payment assistance), or from a nonprofit institution or government grant.




KHC's First Mortgage Government Loan Products