FHA/VA KHC USDA Kentucky Mortgage:

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Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: KENTUCKY USDA RURAL DEVELOPMENT LOANS ZERO DOWN

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: KENTUCKY USDA RURAL DEVELOPMENT LOANS ZERO DOWN: ” KENTUCKY USDA RURAL DEVELOPMENT LOANS Kentucky USDA is a manually underwritten product that has to be delivered to the Local USDA branc…”

KENTUCKY USDA RURAL DEVELOPMENT LOANS ZERO DOWN

KENTUCKY USDA RURAL DEVELOPMENT LOANS

Kentucky USDA is a manually underwritten product that has to be delivered to the Local USDA branch to give the final UW approval and the Guarantee Commitment.

Ensure property eligiblty: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

Borrowers household must meet income requirement *: http://www.rurdev.usda.gov/HSF-Guar_Income_Limits.html

*All household income, must be used to determine if they qualify for RD. (even if they are not on the loan)

Guidelines:

Score – Middle FICO 620

Tradelines- 3 tradelines with 12 months reporting (2 if we have 12 months rent checks also) VOR or Rent free letter on every file

Employment – 2 years of employment in same field (recent college graduate – transcripts w/ employment within the field studied)

Funding Fee – 3.5% (see worksheet to determine loan amount)

Loan Amount – 103.5% can be calculated using appraised value if higher. Allowing all fees to be rolled into the loan amount.

DTI – Standard USDA DTI’s are 29/41%

Debt ratio waiver to 50% with compensating factors. **

The USDA has a max payment shock of 100%.

Seller paid closing cost - up to 6%

** Compensating factors would include reserves, down payment, 5 years on job, 24 months rent checks pd on time

CREDIT

BK’s- discharged 3 years (ch 7 or 13)

Foreclosures- 5 years

Collections- UW judgment, $1500 or less in medical can be left open, all others paid

INELIGIBLE

Titles to be held in a Trust

Non- Occupying Co-borrower

Leasholds

Escrow Holdbacks for repairs

fill-out my free pre-qualification form by clicking here for USDA loans !

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About Louisville Kentucky Mortgage

As a life-long Kentucky resident, I have helped over 589 families buy or refinance their home over the last 13 years. You can trust me for your next mortgage loan. I deliver on what I say and I will give you honest, up-front personal attention you deserve for your home loan. I have several advantages over the big- mega banks in town. First, I can shop your loan thru different mortgage companies across the country to get you the best deal out there, whereas most banks will offer offer you there one and only deal. I have access to over 15 different mortgage companies to broker your loan thru. My rates and fees are just as good or better than local banks and you will not get lost in the shuffle like most borrowers do at the mega banks; your just not a number at our company, you are a person and we will treat you like one throughout the entire process. Free pre-approvals within 2 hours and get your loan closed within 15 days. Give us a try or let us compare what you have now. Call me locally at 502-905-3708; this is my personal cell phone and I carry it on me at all times. Free credit reports and approvals. Stop by and see my at 107 South Hurstbourne Pky Louisville Ky 40222- or email me at kentuckyloan@gmail.com nmls# 57916

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