1. FHA Loans in Kentucky
2. USDA Loans in Kentucky
I live in a rural area and need financing for a home and have no money down in Kentucky for a home loan
3. Conventional Loans in Kentucky
I am able to make a larger down payment and have a good credit score.
4. VA Loans in Kentucky
I am an active member of the military or a veteran in Kentucky
5. FHA Manufactured Home Guidelines for Mobile homes in Kentucky
KHC requires an Affidavit of Conversion to Real Estate per KRS186A.297, when manufactured home is permanently affixed to land.
The Certificate of Title is surrendered.
If manufactured house has not been converted to real estate, then this can be done at closing.
The following items need to be uploaded in the Closed Loan Package:
A copy of the recorded affidavit and the surrendered title to the manufacture home.
A copy of the executed affidavit and title (to be surrendered) sent to the county clerk for recording.
If a new manufactured home, copy of the original certificate of origin from the manufacturer that is going to be delivered to the county clerk so that title can be ordered.
After title is received, affidavit is prepared for recording and title is surrendered.
Within 90 days or less from closing date, need original of newly recorded affidavit and coy of surrendered title.
Failure to send to KHC within timeframe could result in repurchase.
Affixations are not acceptable.
Do not record affixations with the mortgage.
Manufactured Housing Guidelines for Mobile homes in Kentucky
FHA and VA Loan with Manufactured Homes
Both new and existing manufactured housing is allowed.
FHA requires a foundation inspection by a structural engineer.
RHS Loans with Manufactured Home
KHC only allows new manufactured housing.
Dealer to property and set up like a stick built house.
Conventional Loans with Manufactured Home
Both new and existing manufactured housing is allowed with Conventional Preferred and Preferred Risk programs.
95% LTV / 105% CLTV.
No Structural Engineer inspection required for Conventional Loans