Kentucky HUD Homes for Sale with the FHA $100 Down Program


FHA $100 DOWN HUD HOME PROGRAM IN KENTUCKYvia Kentucky HUD Homes for Sale with the FHA $100 Down Program

Kentucky HUD Homes for Sale with the FHA $100 Down Program


via Kentucky HUD Homes for Sale with the FHA $100 Down Program

 

Search Results for HUD Homes in KY

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34 listings found
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details
201-225565 2008 Standard Ave
Louisville, KY, 40210
Jefferson County
$12,000 2 1.00 Extended  08/05/2019 View Street
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201-308494 919 Rose Dr
Hopkinsville, KY, 42240
Christian County
$63,000 3 2.10 Extended  08/05/2019 View Street
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201-321862 1309 Couchtown Road
Busy, KY, 41723
Perry County
$40,000 5 1.00 Extended  08/05/2019 View Street
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201-335969 422 Daviess St
Harrodsburg, KY, 40330
Mercer County
$40,000 3 1.00 Extended  08/05/2019 View Street
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201-340123 178 Slate Ridge Rd
Lily, KY, 40740
Laurel County
$47,000 3 1.00 Exclusive  08/12/2019 View Street
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201-355195 359 Shadowwood Dr
Grayson, KY, 41143
Carter County
$55,800 3 2.00 Extended  08/05/2019 View Street
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201-369441 124 Nicholas St
Elizabethtown, KY, 42701
Hardin County
$35,000 2 1.00 Extended  08/05/2019 View Street
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201-373082 1414 Obryne St
Henderson, KY, 42420
Henderson County
$27,000 2 1.00 Extended  08/05/2019 View Street
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201-374214 2620 Thomas Ave
Louisville, KY, 40216
Jefferson County
$45,000 2 1.00 Extended  08/05/2019 View Street
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201-374690 5925 Dewitt Dr
Louisville, KY, 40258
Jefferson County
$108,000 2 1.10 Extended  08/05/2019 View Street
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201-375828 2816 Alabama St
Paducah, KY, 42001
Mccracken County
$25,000 2 1.00 Exclusive  08/12/2019 View Street
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201-393697 33 Mine 18 Road
Stearns, KY, 42647
Mccreary County
$44,100 2 1.00 Extended  08/05/2019 View Street
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201-397942 401 Ky Route 1107
Van Lear, KY, 41265
Johnson County
$77,000 3 2.00 Exclusive  08/12/2019 View Street
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201-398608 621 Scenic Dr
Harrodsburg, KY, 40330
Mercer County
$115,000 3 1.00 Extended  08/05/2019 View Street
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201-402408 380 Bent Creek Dr
Smiths Grove, KY, 42171
Barren County
$70,000 3 2.00 Exclusive  08/06/2019 View Street
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201-406743 223 Richmond Dr
Ermine, KY, 41815
Letcher County
$27,000 3 2.10 Exclusive  08/12/2019 View Street
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201-407638 1898 Apple House Rd
Beaver Dam, KY, 42320
Ohio County
$70,000 3 2.00 Extended  08/05/2019 View Street
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201-427286 9010 N Highway 421
Manchester, KY, 40962
Clay County
$40,000 3 1.00 Extended  08/05/2019 View Street
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201-429878 710 Old Brownie Rd
Central City, KY, 42330
Muhlenberg County
$44,000 4 2.00 Extended  08/05/2019 View Street
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201-441028 145 Weddington Lane
Prestonsburg, KY, 41653
Floyd County
$69,300 4 2.00 Extended  08/05/2019 View Street
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1 | 2 | 

Search Results for HUD Homes in KY

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34 listings found
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details
201-464311 425 Denver Ave
Paducah, KY, 42001
Mccracken County
$62,000 3 2.00 Exclusive  08/12/2019 View Street
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201-466826 25 Cub Ct
East Point, KY, 41216
Floyd County
$35,000 3 2.00 Exclusive  08/05/2019 View Street
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201-500252 1024 Williams St
Maysville, KY, 41056
Mason County
$21,120 2 1.00 Extended  08/05/2019 View Street
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201-522693 167 Bridge Branch Rd
Allen, KY, 41601
Floyd County
$40,000 3 1.10 Extended  08/05/2019 View Street
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201-529534 2012 Granger Rd
Fairdale, KY, 40118
Jefferson County
$80,000 2 1.00 Exclusive  08/06/2019 View Street
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201-535817 304 Indian Dr
West Van Lear, KY, 41268
Johnson County
$125,000 3 2.00 Extended  08/05/2019 View Street
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201-546748 1738 Macedonia Rd
Adolphus, KY, 42120
Allen County
$102,000 3 1.00 Exclusive  08/06/2019 View Street
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201-581912 631 Peters Rd
Mc Kee, KY, 40447
Jackson County
$82,800 3 1.00 Extended  08/05/2019 View Street
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201-600689 383 Tygart St
Olive Hill, KY, 41164
Carter County
$49,000 3 1.00 Extended  08/05/2019 View Street
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201-602124 345 Church St
Lebanon Junction, KY, 40150
Bullitt County
$38,000 2 1.00 Extended  08/05/2019 View Street
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201-607030 114 Bethlehem Rd
Pleasureville, KY, 40057
Henry County
$100,000 3 1.00 Extended  08/05/2019 View Street
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201-613915 4039 Brewers Hwy
Benton, KY, 42025
Marshall County
$100,000 3 1.10 Exclusive  08/06/2019 View Street
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201-615020 2621 Harmons Ferry Rd
Utica, KY, 42376
Ohio County
$95,000 3 2.00 Extended  08/05/2019 View Street
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201-616777 1080 Lone Star Rd
Upton, KY, 42784
Hart County
$49,500 3 1.00 Extended  08/05/2019 View Street
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hud-homes-100-down-payment-program-reo-foreclosure-bank-owned1

KENTUCKY HUD REO PROPERTIES ELIGIBLE FOR THE $100 DOWN PAYMENT INCENTIVE

KENTUCKY HUD REO PROPERTIES ELIGIBLE FOR THE $100 DOWN PAYMENT INCENTIVE


via KENTUCKY HUD REO PROPERTIES ELIGIBLE FOR THE $100 DOWN PAYMENT INCENTIVE

Search Results for HUD Homes in KY

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40 listings found
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Property CaseAddressPriceStatusBedBathListing PeriodBid Open DateDetails 201-6167771080 Lone Star Rd
Upton, KY, 42784
Hart County
$49,50031.00Extended 07/15/2019View Street
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Email Info201-600689383 Tygart St
Olive Hill, KY, 41164
Carter County
$49,00031.00Extended 07/15/2019View Street
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Email Info201-3742142620 Thomas Ave
Louisville, KY, 40216
Jefferson County
$45,00021.00Extended 07/15/2019View Street
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Email Info201-3570973705 Kahlert Avenue
Louisville, KY, 40215
Jefferson County
$45,00031.00Exclusive 07/23/2019View Street
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Email Info201-39369733 Mine 18 Road
Stearns, KY, 42647
Mccreary County
$44,10021.00Extended 07/15/2019View Street
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Email Info201-429878710 Old Brownie Rd
Central City, KY, 42330
Muhlenberg County
$44,00042.00Extended 07/15/2019View Street
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Email Info201-4272869010 N Highway 421
Manchester, KY, 40962
Clay County
$40,00031.00Extended 07/15/2019View Street
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Email Info201-335969422 Daviess St
Harrodsburg, KY, 40330
Mercer County
$40,00031.00Extended 07/15/2019View Street
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Email Info201-3218621309 Couchtown Road
Busy, KY, 41723
Perry County
$40,00051.00Extended 07/15/2019View Street
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Email Info201-522693167 Bridge Branch Rd
Allen, KY, 41601
Floyd County
$40,00031.10Exclusive 07/23/2019View Street
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Email Info201-41070612201 Sand Springs
Mount Vernon, KY, 40456
Rockcastle County
$39,00000.00Exclusive 07/23/2019View Street
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Email Info201-602124345 Church St
Lebanon Junction, KY, 40150
Bullitt County
$38,00021.00Exclusive 07/23/2019View Street
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Email Info201-40711916902 Dry Ridge Rd
Louisville, KY, 40299
Jefferson County
$35,00021.00Exclusive 07/15/2019View Street
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Email Info201-369441124 Nicholas St
Elizabethtown, KY, 42701
Hardin County
$35,00021.00Extended 07/15/2019View Street
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Email Info201-460646117 Mandy Ct
Pendleton, KY, 40055
Trimble County
$35,00022.00Exclusive 07/15/2019View Street
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Email Info201-345319124 West 4th Street
Silver Grove, KY, 41085
Campbell County
$31,50041.00Extended 07/15/2019View Street
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Email Info201-3730821414 Obryne St
Henderson, KY, 42420
Henderson County
$30,00021.00Extended 07/15/2019View Street
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Email Info201-369247402 Smallmouth Dr
Scottsville, KY, 42164
Allen County
$25,00032.00Exclusive 07/17/2019View Street
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Email Info201-5002521024 Williams St
Maysville, KY, 41056
Mason County
$21,12021.00Extended 07/15/2019View Street
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Email Info201-2255652008 Standard Ave
Louisville, KY, 40210
Jefferson County
$12,00021.00Extended 07/15/2019View Street
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details
201-431136 4922 Friden Way
Louisville, KY, 40214
Jefferson County
$135,000 3 2.00 Extended  07/15/2019 View Street
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201-519791 1601 Elliott Ave
Ashland, KY, 41102
Boyd County
$131,200 4 3.00 Extended  07/15/2019 View Street
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201-374690 5925 Dewitt Dr
Louisville, KY, 40258
Jefferson County
$108,000 2 1.10 Extended  07/15/2019 View Street
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201-607030 114 Bethlehem Rd
Pleasureville, KY, 40057
Henry County
$100,000 3 1.00 Exclusive  07/16/2019 View Street
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201-504352 8 Levassor Ave
Covington, KY, 41014
Kenton County
$99,000 2 1.00 Exclusive  07/22/2019 View Street
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201-615020 2621 Harmons Ferry Rd
Utica, KY, 42376
Ohio County
$95,000 3 2.00 Extended  07/15/2019 View Street
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201-378264 2999 Pendleton Road
Pendleton, KY, 40055
Henry County
$90,000 3 2.00 Extended  07/15/2019 View Street
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201-406139 135 Van Voast Ave
Bellevue, KY, 41073
Campbell County
$84,000 2 1.10 Exclusive  07/15/2019 View Street
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201-581912 631 Peters Rd
Mc Kee, KY, 40447
Jackson County
$82,800 3 1.00 Extended  07/15/2019 View Street
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201-447030 194 Silver Dr
Sonora, KY, 42776
Hardin County
$80,000 3 1.00 Extended  07/15/2019 View Street
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201-609165 9613 Scarborough Av
Louisville, KY, 40272
Jefferson County
$72,000 3 1.00 Exclusive  07/22/2019 View Street
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201-407638 1898 Apple House Rd
Beaver Dam, KY, 42320
Ohio County
$70,000 3 2.00 Extended  07/15/2019 View Street
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201-441028 145 Weddington Lane
Prestonsburg, KY, 41653
Floyd County
$69,300 4 2.00 Extended  07/15/2019 View Street
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201-561372 130 Wilton Circle
Paducah, KY, 42003
Mccracken County
$69,300 3 1.10 Extended  07/15/2019 View Street
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201-520622 101 Roger Ln
Florence, KY, 41042
Boone County
$68,000 3 1.00 Exclusive  07/22/2019 View Street
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201-308494 919 Rose Dr
Hopkinsville, KY, 42240
Christian County
$63,000 3 2.10 Extended  07/15/2019 View Street
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201-489670 5523 W Highway 72
Harlan, KY, 40831
Harlan County
$58,500 3 2.00 Extended  07/15/2019 View Street
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201-378499 8310 State Highway 1056
Mccarr, KY, 41544
Pike County
$57,000 4 2.00 Extended  07/15/2019 View Street
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201-600004 71 Wright Loop
Greenville, KY, 42345
Muhlenberg County
$56,000 3 1.10 Extended  07/15/2019 View Street
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201-493196 6508 Lucerne Ave
Louisville, KY, 40216
Jefferson County
$50,000 3 1.00 Exclusive  07/15/2019 View Street
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American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
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/

— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

Down Payment Assistance Kentucky First Time Homebuyer Program


 

 

 

via Down Payment Assistance Kentucky First Time Homebuyer Program

Debt-to-Income Ratio for Kentucky Mortgage Loans:


 

 

Debt-to-Income Ratio for Kentucky Mortgage Loans Debt-to-Income Ratio: What It Is and Why You Should Care for A Kentucky Mortgage Loan  Debt-to-Income Ratio: What It Is and Why You Should Care for…

Source: Debt-to-Income Ratio for Kentucky Mortgage Loans:

Five strategies for first time home buyers Kentucky


 

There are 4 basic things that a Kentucky First Time Home buyers in 2020 needs to show a lender in order to get approved for a mortgage. Each category has so many what ifs and sub plots that each box can read as it’s own novel. In other words, each category has so many variables that can affect what it takes to get approved, but without further adieu here are the four categories in no particular order as each without any of these items, you’re pretty much dead in the water:
1. Income

You need income. You need to be able to afford the home. But what is acceptable income? Let’s just say that there are two ratios mortgage underwriters look at to qualify you for mortgage payment:

First Ratio – The first ratio, top ratio or housing ratio. Basically that means out of all the gross monthly income you make, that no more that X percent of it can go to your housing payment. The housing payment consists of Principle, Interest, Taxes and Insurance. Whether you escrow or not every one of these items are factored into your ratio. There are a lot of exceptions to how high you can go, but let’s just say that if your ratio is 33% or less, generally, across the board, you’re safe.

Second Ratio- The second ratio, bottom ratio or debt ratio includes the housing payment, but also adds all of the monthly debts that the borrower has. So, it includes housing payment as well as every other debt that a borrower may have. This would include, Auto loans, credit cards, student loans, personal loans, child support, alimony….basically any consistent outgoing debt that you’re paying on. Again, if you’re paying less than 45% of your gross monthly income to all of the debts, plus your proposed housing payment, then……generally, you’re safe. You can go a lot higher in this area, but there are a lot of caveats when increasing your back ratio.

What qualifies as income? Basically, it’s income that has at least a proven, two year history of being received and pretty high assurances that the income is likely to continue for at least three years. What’s not acceptable? Unverifiable cash income, short term income and income that’s not likely to continue like unemployment income, student loan aid, VA education benefits,or short term disability are not allowed for a mortgage loan.

2. Assets

What the mortgage underwriter is looking for here is how much can you put down and secondly, how much will you have in reserves after the loan is made to help offset any financial emergencies in the future.

Do you have enough assets to put the money forth to qualify for the down payment that the particular program asks for. The only 100% financing or no money down loans still available in Kentucky for home buyers are available through USDA, VA, and KHC or Kentucky Housing Loans. Most other home buyers that don’t qualify for the no money down home loans mentioned above, will turn to the FHA program. FHA loans currently requires a 3.5% down payment.

Kentucky Home buyers that have access to putting down at least 5% or more, will usually turn to Fannie Mae or Freddie Mac mortgage programs so they can get better pricing when it comes to mortgage insurance.

These assets need to be validated through bank accounts, 401k or retirements account and sometimes gifts from relatives or employer.. Can you borrower the down payment? Sometimes. Generally if you’re borrowing a secured loan against a secured asset you can use that. But rarely can cash be used as an asset. FHA will allow for gifts from relatives for down payments with little as 3.5% down but Fannie Mae will require a 20% down payment when a gift is being used for the down payment on the home.

The down payment scenarios listed above are for Kentucky Primary Residences only. There are stricter down payment requirements for investment homes made in Kentucky.

3. Credit

620 is the bottom score (again with few exceptions) that lenders will permit. Below a 620, then you’re in a world of hurt with most FHA, VA, Fannie Mae and USDA Lenders that we deal with. I do deal with some lenders that offer a FHA loan down to a 560 credit score, but most FHA and VA lenders will wanta 580 to 620 score. Fannie Mae or Conventional loans will not go below 620.

Even at 620, people consider you a higher risk that other folks and are going to penalize you or your borrower with a more expensive loan. 720 is when you really start to get in the “as a lender we love you” credit score. 740 is even better. Watch your credit scores carefully. You have three credit scores from Experian, Equifax and Transunion, and the lender will take your middle score. For example, Experian comes back with a 598, Transunion a 620 score, and Equifax a 615 score, then your qualifying middle credit score would be 615.

Your scores will have to come from the mortgage company’s credit report bureau they use so please be aware that sites like Credit Karma and Credit Sesame will show different estimates of your scores that could vary once the lender pulls your true fico scores. Getting your fico scores costs money, so you can always pay and get your score first or have the lender pull it for free.

AS FAR AS PREVIOUS BANKRUPTCIES AND FORECLOSURES:
Kentucky FHA Mortgage Loans currently requires 3 years removal from a foreclosure or short sale and 2 years on a bankruptcy with good re established credit.

Kentucky Fannie Mae Mortgage Loans currently requires 4 years removal from a bankruptcy, and 7 years on a foreclosure.

Kentucky VA Mortgage Loans currently requires 2 years removal from a bankruptcy or foreclosure with good re established credit.

Kentucky USDA loans require 3 years removal from bankruptcy and foreclosure with good re established credit.

4. Appraisal

Generally, there’s nothing you can do to affect this. Bottom line here is…..”is the value of the house at least the value of what you’re paying for it?” If not, then not good things start to happen. Generally you’ll find less issues with values on purchase transactions, because, in theory, the realtor has done an accurate job of valuing the house prior to taking the listing. The big issue comes in refinancing. In purchase transactions, the value is determined as the

Lower of the value or the contract price!!!

That means that if you buy a $1,000,000 home for $100,000, the value is established at $100,000. Conversely, if you buy a $200,000 home and the value comes in at $180,000 during the appraisal, then the value is established at $180,000. Big issues….Talk to your loan officer.

For each one of these boxes, there are over 1,000 things that can effect if a borrower has reached the threshold to complete that box. Soooooooooooo…..talk to a great loan officer. There are so many loan officers that don’t know what they’re doing. But, conversely, there’s a lot of great ones as well. Your loan is so important! Get a great lender so that you know, for sure, that the loan you want, can be closed on!

 

 

 

Kentucky FHA Loan Guidelines


hud-100-incentive-program-fha-home-loan-group-1gdsgdsgdfgdHere is my Top 5 List for getting a Kentucky FHA Mortgage Loan: 1.A Low Down Payment –  Kentucky FHA Mortgage Loans only require a 3.5% down payment. And what makes that even more attractive is tha…

Source: Kentucky FHA Loan Guidelines

 

FHA Guidelines: How to Qualify for an FHA Loan

The first step to qualifying for an FHA loan is to work with a loan officer at an FHA approved lender. General FHA guidelines that the loan officer will discuss with you include:

  • Documenting an employment history over the last two years. FHA guidelines consider the last two years of employment and look at a steady pay history or employment with the same employer.
  • Providing a valid social security number and proof that you’re a resident of the United States. There are exceptions for resident aliens, but these exceptions will vary by lender.
  • Producing the necessary down payment. FHA loans require a minimum down payment of 3.5% when buying a home — but the down payment may be a gift under certain conditions.
  • Performing the necessary due diligence. The property will need to be inspected by an FHA appraiser and an FHA approved appraisal must be done.
  • Assessing how much you can afford. Although there is some flexibility, the total monthly mortgage payment generally should not exceed 30-32% of your gross monthly income.
  • Assessing your level of debt. Your total debt should not be more than 43% of your gross monthly income. Again, there is some flexibility with this number, but this is a good guideline.
    • Note from mortgage professional, Albert Bui, “the 43% DTI to income is mainly a guideline max for many loans out on the market to comply with certain qualified mortgages (QM) guidelines however in reality the max on FHA I’ve seen is 46.99% on the front ratio (housing payment only) and 56.99% on the backend when factoring in all other obligations. So this means you can borrow up to 46.99% on the front ratio for your housing payment but it doesn’t mean the borrower should max it out, rather they “can.”
  • Knowing your credit score. Minimum credit scores now apply with FHA loans and can vary by lender. A credit score of 580 and above requires a 3.5% down payment, and a credit score of 500-579 requires a 10% down payment. Credit score requirements will vary by lender.
    • According to Mr. Bui, “a 3.5% down payment is the min however there are many down payment assistance (DPA) programs that will either grant you the 3.5% for free with no repayment’s, offer the borrower a 3.5% community 2nd loan that is silent (no payment) and may be forgivable after a certain period of time, or a 2nd that has a silent payment but is due at a certain period of time or payoff in the future. So you can bring in as little as $0.00 with qualifying income or additional requirements.”
  • Disclosing prior bankruptcies. If you have had a bankruptcy that has been discharged, the waiting period is 2 years.
  • Disclosing prior foreclosures. If you have had a foreclosure, the waiting period is 3 years, and you must have good credit

https://www.biggerpockets.com/users/Fin_savvy