Showing posts with label rhs loans kentucky. Show all posts
Showing posts with label rhs loans kentucky. Show all posts

What do I need to get approved for a Rural Housing Loan in Kentucky?





What do I need to get approved for a Rural Housing Loan in Kentucky?

You really need to look at the four following items below:

Credit Score: They typically want a 640 credit score with no bankruptcies or foreclosures in the last 3 years. KY USDA Loans are initially ran thru GUS (Guarantee Underwriting System), an underwriting approval engine online that Kentucky USDA Mortgage lenders use to tell us how much you are qualified for based on the income, assets, property, and credit provided. Most lenders will want an Approved Eligible. If your score is below 640, you will automatically get a refer eligible which most lenders will not do.

Homeownership: You cannot currently own another home with a USDA loan but there are waivers granted if you can show the current living arrangements are not suitable and safe for your family.

Income: Typically, you cannot make more than $86k approximately for a household family of four, and up to $115k for  a household family of five in most Kentucky counties. Some Kentucky Counties are more but not much.

Location: Kentucky has 120 counties, and USDA is not allowed in the following KY Counties: Jefferson, Fayette (whole county)  and parts of  McCracken, Boone, Kenton, Campbell, Bullitt, Daviess, Warren, Franklin and Christian counties. The best thing to do on the location is tell me an address and I can look it up for you.

I have a website that is really good for USDA loans, located at http://kentuckyruralhousingusdaloan.blogspot.com/p/usda-rural-housing-loan-program.html  that may assist and educate you about the program.


KHC's Down payment Assistance Program (DAP)

Down Payment Assistance Programs in Kentucky

From first-time buyers to current homeowners, many state, county and local housing agencies offer affordable loan programs with Down Payment Assistance (DPA), subject to availability of funds and credit qualifying. Down payment assistance can vary with single products or sometimes can be a combination of products such as Mortgage Credit Certificates (MCC), Grants, DPA’s along with closing cost assistance and low interest rates and fees that can help individuals and families become successful homeowners.

All borrowers must qualify for an underlying mortgage product according to the Housing Finance Agency authority (FHA, VA, USDA or Conventional). Housing loan programs are then layered on top to provide additional benefits. If eligible, the borrower can also add a down payment and closing cost assistance to their loan according to individual program guidelines.

What state are you in? I assume Kentucky? I will help you gather more information if this is something you want to look into. The general terms are below:
• Meet minimum credit score requirements
• Meet income limits
• Meet purchase price limits
• Meet loan amount limits
• Require specific homeowner counseling

I hope this gives you some useful input to help guide your decision making. Give me a call if you have more specific questions! Thanks so much 

Sincerely,




Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916

American Mortgage Solutions, Inc.
10602 Timberwood Circle 
Louisville, KY 40223

Company NMLS ID #1364

Text/call:      502-905-3708
fax:            502-327-9119
email:
          kentuckyloan@gmail.com

Kentucky USDA credit score and mortgage requirements

 Credit Scores and the Kentucky USDA Rural Development Loan Program 

The Kentucky USDA Rural Development Loan Program is by far the most credit score friendly loan program currently available. While USDA is willing to work with scores lower than 640 most lenders won't. Thus, pragmatically the minimum credit score required by USDA is 581.


For Kentucky homebuyers with a minimum credit score of 640 lenders may streamline the credit approval process normally required as part of the underwriting process. This means that a borrower:
With a lack of credit "depth" will not have to document non-traditional credit items such as utility or insurance payments
A negative past credit history may allow the Underwriter to not request letters of explanation for the cause of the past challenges
Collection accounts can remain open provided the Underwriter believes it unlikely that the account will eventually turn into a judgment
However, USDA is not willing to overlook certain overtly negative credit items even when the credit scores are over 640. For instance borrowers with any of the following adverse past credit should not expect to obtain credit approval using the USDA loan program:


Foreclosure or short sale within the last 3 years
Chapter 7 bankruptcy discharged within the past 3 years
Chapter 13 bankruptcy debt restricting plan completed within the last 12 months
Late mortgage payments within the last 12 months
Applicant or co-applicant delinquent on a federal debt; such as taxes, student loans, or previous agency loan (i.e. VA loan in which the eligibility was forfeited due to a foreclosure)

USDA may be willing to give a borrower an exception to a past bankruptcy or foreclosure prior to the three year period provided the borrower can document the cause of the past negative credit experience as being related to an illness or job loss and unlikely to reoccur.

Once the credit score exceeds 640, USDA allows this score to be considered as justification for allowing the borrowers debt-to-income-ratio to exceed the target ratios of 29% for the housing costs and 41% for the total debt ratio. Frequently USDA will approve loans where the housing ratios are in the high 30% range and total debt ratios are in the high 40% range.

Bottom line the Kentucky USDA Rural Development Loan Program is more flexible in approving a perspective borrower than any other loan program. But like any loan program today, the Loan Officer shouldn't assume that this level of credit flexibility will result in an automatic positive underwriting decision if the Underwriter doesn't feel strongly that the borrowers chance of success at homeownership is strong.

Kentucky FHA Mortgage Loans vs Kentucky USDA Rural Housing Loans Compared



 
FHA Loan Program for Kentucky


Rural housing loan program in Kentucky




Here are the important points about Kentucky USDA Rural Housing Loans:


  • USDA loan are only available in certain counties of Kentucky.
  • There are two types of USDA loans available: Direct and Guaranteed. 
  • 100% financing. No down payment 
  • USDA will go down to 580 score and uses and  automated underwriting pre-approval system called GUS-Guarantee Underwriting System. The GUS findings will dictate your loan pre-approval.
  • Kentucky USDA Rural Housing Income limits based on county and number of people in household. Currently $86,400  for a family of four and up to $115,600  for a family of five or more. 
  • Must be 3 years removed from bankruptcy and foreclosure
  • No purchase price limit
  • Upfront funding fee of 1% of loan amount paid to RD at closing 
  • Annual mi fee of .35% paid each month for life of loan. 
  • Takes on average 30-45 days to close. 
  • 30 year fixed rate is the only term available and rates are usually comparable to FHA and VA government mortgage insured rates.
  • Do not have to be a first time home buyer and can currently own another home if USDA deems the current living situation not suitable. 
  • Appraisal has to meet FHA minimum standards
  • You can buy a home with land on USDA Loans as long as the property does not have any agricultural characteristics or income producing capabilities. 
  • There is no set max acreage but the appraisal will dictate approval of property by USDA. 
  • You can only use USDA loans to purchase property or refinance an existing USDA loan
  • Pools are okay and homes in a flood zone are okay. This is a recent change 



Here are some important facts about Kentucky FHA Loans:


  • FHA loans can be made in any county of Kentucky. 
  • FHA loans require 3.5% down payment
  • FHA Mortgage terms are available in 30, 20, 15, 10 year terms.
  • Credit score down to 500 are acceptable but subject to investor approval.
  • Most lenders will want a 620 score, with some going down to 580 with conditions
  • FHA loans are pre-approved using DU, an online automated underwriting system that will dictate your loan approval conditions. 
  • FHA has max income limits in Kentucky with the maximum being $314,500 for most Kentucky Counties
  • There are no income limits on the household for FHA loans
  • There is a upfront mi premium of 1.75% and a monthly fee of .85% payable each month. 
  • If you finance over 90% of the homes value, the monthly mi factor of .85% is for life of loan. If less than 90%, 11 year term for annual mi fee.
  • FHA, USDA rates are really comparable on paper, no big difference except for the mi
  • FHA requires 3 years out on a short-sale or foreclosure
  • FHA requires 2 years out on Chapter 7 and 1 year out on a Chapter 13 with good clean history for the last 12 months with no lates. 
  • Not required to be a first time home buyer
  • Can refinance an existing FHA loan to another without appraisal, income, a processed call FHA streamline refinance

Joel Lobb (NMLS#57916)
Senior  Loan Officer


American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346

Text/call 502-905-3708

kentuckyloan@gmail.com

If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

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.nmlsconsumeraccess.org/


Kentucky Home Loan Mortgage Types


Kentucky Mortgage Loan Terms
Kentucky FHA Loan:A Kentucky FHA Loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration.  FHA loans have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise been able to afford. FHA loans require 3.5% down payment but it can be gifted from relatives or family member or use a state housing agency down payment assistance program. Mi upfront is 1.75% and monthly mi is .85% to .80% depending on your term. 
Kentucky VA Loan:A Kentucky VA Loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs.  The VA loan allows veterans 100% financing without private mortgage insurance for monthly payments but it does have a funding fee upfront varying from 2.15% to 3.3% depending on your situation. Some Veterans are not required to pay if they have a VA disability.
 Kentucky USDA Rural Housing Loan:Single Family Housing Guaranteed Loan program or Section 502 loans are primarily used to help households purchase homes in rural areas.  The Kentucky USDA loan allows for 100% financing with upfront mi fee of 1% and monthly or annual mi of .35%. This is very low compared to FHA loans in Kentucky
DTI Ratio:Debt-to-Income Ratio indicates the percentage of income that goes toward paying all recurring debt payments, including mortgage, interest, mortgage insurance, and other debts such as credit card payments, car loan payments, student loan payments, child support payments, alimony payments, and legal judgments.
Down Payment:The difference between the investment price and the loan amount.
Closing Costs:All the cost that a lender requires to obtain a loan.
Fixed Rate:A constant interest rate that does not change for the term of the loan.
Adjustable rate:An interest that can change during the term of the loan on an annual basis.
Rate Buy Down:Lowers your interest rate for a given duration on a fixed mortgage reducing your
monthly mortgage payment.
Credit Report:A report that contains a person's credit history.
Appraisal:A report that gives the current market value of the home.
Term:The number of years to pay off a loan.
Points:1% of the loan amount a lender may charge.
Pre-Paids:Expenses that the lender requires being paid upfront. (Homeowners Insurance, Escrow Accounts, Interest)
Short Interest:Interest collected from the date of closing to the end of the month.
Mortgage Insurance:Insurance required by the lender for loans with less than 20% down payment. 
Home Owners Insurance:Insurance required by the lender to replace the homes value in the case of disaster.




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
(NMLS#57916
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.


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







Fill out my form!

KENTUCKY RURAL HOUSING USDA UP-FRONT GUARANTEE FEE INCREASE


 
 
UPFRONT GUARANTEE FEE
THROUGH 9/30/2015
EFFECTIVE 10/1/15
All Transactions
2.0%
2.75%
 
The new fee structure is applicable to all Conditional Commitments issued by Kentucky Rural Development Offices  on or after October 1, 2015. Kentucky USDA Mortgage Loan guarantee requests submitted to KY Rural Development (RD) on which a conditional commitment has not been issued by September 30, 2015, will be subject to the new, higher guarantee fee structure.





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100% Financing for Kentucky Home Buyers. VA, KHC, USDA,


Buy a home without draining your savings account. The following attractive Kentucky home loan programs below requires no down payment:
  • Kentucky Housing Corp down payment assistance with 100% Financing
  • Kentucky Rural Housing Mortgage Loans in eligible rural areas allow 100% Financing
  • Kentucky VA Mortgage loans allow for 100% Financing for eligible veterans/active duty
  • Credit scores as low as 640 for KHC and RHS loans and 600 score for FHA and VA
  • Specific mortgage insurance requirements apply. Ask for details.



Joel Lobb
Senior  Loan Officer
(NMLS#57916)


 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346



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Mortgage Program Flowchart for Qualifying a mortgage loan in Kentucky

Find out if you qualify for a mortgage loan by using this flowchart
“Do I Qualify for a Mortgage Loan?” – RealEstate.com Flowchart



  Exceptions to flowchart  above.

1. Having a DTI ratio over 36% will not prevent a borrower from qualifying. A Kentucky household can comfortably afford a mortgage with a DTI ratio up to 45% or 55% with a VA or FHA loan with compensating factors such as high credit scores (740+),reserves equal to 12 months or more, large down payment or savings.

 2. Down Payment.

 There are several loan programs in Kentucky that allow a borrower to buy a home with little to $0 down payment. In fact, the USDA loan has a lower payment even when they have no down payment than compared to using an FHA loan with 3.5% down payment. Also there is VA loans which require no down payment if you are a veteran or active duty military, and last but not least, there is KHC or Kentucky Housing which offers down payment assistance on FHA loans in Kentucky so you can buy a home with zero down payment. Questions about qualifying for a mortgage loan?

 Contact me below:

 Joel Lobb Senior Loan Officer (NMLS#57916)

 American Mortgage Solutions, Inc.
 800 Stone Creek Pkwy, Ste 7,
 Louisville, KY 40223
 phone: (502) 905-3708
 Fax:    (502) 327-9119
 kentuckyloan@gmail.com
 Company ID #1364 | MB73346
 http://mylouisvillekentuckymortgage.com

  Fill out my form!

Kentucky USDA Rural Development Single Family Housing Guaranteed Loan Program

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Kentucky USDA Rural Development Single Family Housing
Guaranteed Loan Program

APPLICANT BENEFITS

 100 percent financing available with no down payment required. Eligible repairs and 
closing costs may be included in the loan up to the appraised value of the property. 
 Upfront guarantee fee may be included in the loan amount above the appraised value. 
 Existing or new construction homes including all Planned Unit Development’s (PUD’s) are 
eligible. 
 Condominiums may be eligible. 
 30 year loan terms with fixed interest rates. 
 No pre-payment penalties. 
 Satisfactory credit and qualifying ratios apply. Nontraditional credit histories may be 
eligible. 

APPLICANT REQUIREMENTS

The following information is not all inclusive. For complete information refer to RD 
Instruction 1980-D, supplemented by applicable Administrative Notices (AN) available 
online at http://www.rurdev.usda.gov/RegulationsAndGuidance.html.  http://www.rurdev.usda.gov/RegulationsAndGuidance.html.
APPLICANT ELIGIBILTY 
The applicant must: 
 Be a U.S. Citizen, legally admitted as a permanent resident, or be a qualified alien. 
 Have the legal capacity to incur the loan obligation. 
 Be unable to secure credit with rate and terms reasonable to the applicant without a 
guarantee from the Single Family Housing Guaranteed Loan Program (SFHGLP).
 Not own a home within the local commuting area at the time of loan closing. Applicants that 
do own a home that is structurally unsound or functionally inadequate, or is located outside 
of the local commuting area may still be eligible for guaranteed loan consideration.
 Occupy the home purchased in an eligible rural area as their permanent primary residence. 
 Have stable and dependable income to ensure repayment ability. Households may not 
exceed the moderate income limit established for the applicable rural area. 
 Have an acceptable credit history that demonstrates the willingness and ability to meet 
financial obligations as they become due. If applicants exhibit unacceptable credit per RD 
Instruction 1980-D, section 1980.345(d) the approved lender may still consider the 
applicant if documented evidence of strong compensating factors as outlined in section 
1980.345(d)(3) exists. 

ANNUAL INCOME LIMITS

 Annual income includes the total gross income of the applicant, co-applicant, and any other 
adult (age 18 and up) household members. 
 Adjustments to annual income may be deducted for program eligibility determination. 
Deductions may be made for dependants, eligible annual childcare expenses, disability 
expenses, and annual medical expenses for elderly families. Please discuss eligible 
deductions with your SFHGLP contact. 
 Income limits are published for each county as an Exhibit to RD Instruction 1980-D and are 
available online at: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

REPAYMENT ABILITY: DEBT/INCOME RATIOS

 Repayment ability is determined by calculating the following ratios: 
- PITI (Principal, Interest, Real Estate Taxes, and Homeowner Insurance): The total PITI 
payment divided by the repayment income must be 29 percent or less. 
- Total Debt (TD): The PITI payment plus all other monthly debt obligation payments 
divided by the repayment income must be 41 percent or less.
 Repayment ratios that exceed 29 and/or 41 percentmay be approved by Rural 
Development when a ratio waiver request is provided by the approved lender. The ratio 
waiver must document and provide evidence of strong compensating factors to support the 
request. USDA Rural Development Single Family Housing Guaranteed Loan Division October 2012
1400 Independence Ave., S.W. Washington D.C. 20250-0784
202.720.1452
Examples of strong compensating factors include but are not limited to: 
- Current rent/housing payment is equal to or less than the proposed PITI. 
- Applicant has a history of devoting a similar percentage of income to housing expense 
similar to the PITI over the previous 12 months. 
- Strong credit score and repayment history. 
- Reserves are available post loan closing, which evidence the applicant’s ability to 
accumulate savings. 

PROPERTY REQUIREMENTS
ELIGIBLE RURAL AREA

The property must be located in an eligible rural area as defined in 7 CFR 3550.10 as:
1. Open country which is not part of or associated with an urban area. 
2. Any town, village, city or place, including the immediate adjacent densely settled area, 
which is not part of or associated with an urban area and which: 
a. Has a population not in excess of 10,000 if it is rural in character, or 
b. Has a population in excess of 10,000 but not in excess of 20,000, is not contained within 
a Standard Metropolitan Statistical Area, and has a serious lack of mortgage credit for
very low, low and moderate income households as determined by the Secretary of 
Agriculture and the Secretary of HUD.
Property eligibility is available online and through GUS. 

EXISTING HOMES

 Properties must meet HUD Handbooks 4150.2 and 4905.1. An FHA Roster appraiser or 
licensed residential appraiser deemed qualified by the approved lender may certify to this 
determination. 
 A separate home inspection report prepared by the appraiser or a home inspector deemed 
qualified by the approved lender is an acceptable option to ensure properties meet 
minimum standards. 
 Homes must be structurally sound, functionally adequate and in good repair, or will be 
improved to meet good repair. 
 There are no thermal performance standards for existing homes. 
 Private water systems/wells: The local health authority or state certified laboratory must 
perform a water quality analysis, which must meet state and local standards. 
 Private septic systems: The septic system must be free of observable evidence of failure. An 
FHA Roster appraiser, government health authority, licensed septic professional or 
qualified home inspector may perform the septic system evaluation. 
 Termite: If required by the lender, appraiser, inspector, or State law, a pest inspection must 
be obtained to confirm the property is free of active termite infestation. 
 Repairs: Any repairs necessary for the dwelling to be structurally sound, functionally 
adequate and in good repair must be completed prior to the request of the loan note
guarantee. Exception: Escrow accounts that meet the requirements of RD Instruction 
1980-D, section 1980.315 are allowed for exterior weather delayed repairs. When eligible 
escrow accounts are established per section 1980.360(2)(ii) the loan note guarantee will be 
issued without the repairs complete. 
 Existing homes have been completed for more than 12 months or have been completed for 
less than 12 months but have been previously occupied. USDA Rural Development Single Family Housing Guaranteed Loan Division October 2012

NEW CONSTRUTION

 Evidence the home was built in accordance with certified plans and specifications (e.g., 
International Residential Building Code, CABO, BOCO, etc.) must be obtained through an 
eligible building permit, certificate of occupancy, or certification for a qualified individual or 
organization that reviews plans and specifications. 
 Evidence of construction inspections performed throughout the project in accordance with 
section 1980.341(b)(2) must be retained. Acceptable documentation includes an eligible 
certificate of occupancy or copies of three inspections performed: (1) inspections prior to 
footing and foundation poured, (2) inspections of plumbing, electrical, and mechanicals 
before the shell is enclosed, and (3) a final inspection will meet requirements.
 Evidence of a builder’s warranty. Minimum one year issued by the builder. If the builder 
has offered a 10 year insured builder’s warranty acceptable to the Agency, this may be 
accepted and evidence of construction inspections will be waived. 
 Thermal performance requirements must meet the 2006 IECC code. An eligible building 
permit, certificate of occupancy, final inspection, or 10 year insured builder’s warranty is 
acceptable evidence this requirement has been met. 
 New construction homes have been completed (as evidenced by a certificate of occupancy)
for less than 12 months and have never been occupied. 
 New manufactured homes must be purchased from an approved dealer –contractors (your 
SFHGLP contact can provide a list of those approved in your state). A unit is considered 
new if the purchase agreement is dated within 12 months of the date the unit was 
manufactured. The date of manufacture is available on the factory installed plate on the 
unit. 

LOAN REQUIREMENTS
LOAN PURPOSES

 Loans must be secured by a first lien on real property in an eligible rural area. 
Loan funds may be used to: 
 Purchase an existing or new construction (stick built, modular, or manufactured) home. 
 Purchase or pay off a site as part of a new construction package. 
 Purchase and improve an existing home. Improvements must be complete before a loan 
note guarantee will be issued. Exception: Escrow accounts are allowed for weather delayed 
exterior repairs only.
 Include eligible loan fees, including legal fees, title services, and eligible closing costs. 
 Refinance existing Section 502 Direct and Guaranteed loans. If only the principal balance 
and the guarantee fee will be financed, no new appraisal is required. If the applicant wishes 
to include eligible closing costs into the loan, a new appraisal is required. A new appraisal is 
always required for Section 502 Direct loan refinances. 
LOAN LIMITS
 The maximum loan amount is 100 percent of the appraised value plus the upfront 
guarantee fee.


-- 

Joel Lobb (NMLS#57916)Senior  Loan Officer
502-905-3708 cell