Kentucky USDA/ KENTUCKY RURAL HOUSING LOAN 2011


Kentucky USDA Rural Housing mortgage loans in Ky.

Why use USDA financing for your next home purchase?

There are very few ways to purchase a home these days without a typical 3.5% down payment that is required for an FHA loan.  Many home buyers are surprised to find that a USDA Home Loan offers a lower payment than an FHA loan, even with NO DOWN PAYMENT!  “How can this be?” you ask.  The reason is because a USDA home loan requires NO MORTGAGE INSURANCE.

FHA Loan vs. USDA Loan Comparison

FHA USDA
$150,000 purchase price $150,000 purchase price
4.75% 30 year fixed rate 4.75% fixed rate
1.00% up front mortgage insurance (financed) 3.5% Guarantee Fee (financed)
****new FHA mortgage insurance requirements effective 10/4/10
$871.19 P&I monthly payment
with monthly mortgage insurance (not including taxes and insurance)
$809.86 P&I monthly payment (not including taxes and insurance
$5250.00 required down payment $0 down payment

A USDA loan saved this client $46.74 per month and they made NO DOWN PAYMENT!

Kentucky USDA/ KENTUCKY RURAL HOUSING LOAN Other benefits

  • Low up front closing costs
  • In some cases closing costs can be financed
  • Minor credit problems OK
  • No maximum loan amounts
  • Fixed Rates Only

we strive to find anyway possible to approve your loan, however there are some cases where a USDA Loan is not an option; a previous bankruptcy must be discharged 3 years, you must occupy the home being purchased as your primary residence, the home may not be used for income producing purposes (farm, rental, etc.), streets and roads must be paved or have an all-weather surface and the home may not be located in a flood zone.   There may be other factors in preventing your loan application from being approved, however these are the most common.  If you have a question on determining your eligibility, don’t hesitate to contact us.  Never assume you don’t qualify without speaking to a loan officer first!

Kentucky USDA/ KENTUCKY RURAL HOUSING LOAN 2011

APPLY BELOW/FREE PREQUALIFICATION AND GUARANTEE CALL BACK WITHIN 1 HOUR OF RECEIPT

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Author: Louisville Kentucky Mortgage

I have helped over 589 Kentucky families buy or refinance their home over the last 18 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process. I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues. You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process. Give us a try or let us compare your options on your next mortgage transaction. Call me locally at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at kentuckyloan@gmail.com with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance. This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. NMLS# 57916 http://www.nmlsconsumeraccess.org/ 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 Equal Housing Lender

9 thoughts on “Kentucky USDA/ KENTUCKY RURAL HOUSING LOAN 2011”

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