Friday, January 18, 2019

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: What are the requirements to buy a house in Kentuc...

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: What are the requirements to buy a house in Kentuc...: Credit Score and Income Requirements to Buy a Home in Kentucky in 2019 KENTUCKY CONVENTIONAL FIXED RATE MORTGAGES Get you...

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Federal Shutdown Puts Stress On Rural Development Home Loans

Realtors call for restart of the Government shutdown of USDA-loan program


In a letter to the Trump administration, the Realtors trade group said the administration should reopen the Rural Housing Services, a branch of the USDA, to address a backlog of USDA-guaranteed loans, which are home loans guaranteed by the agency for people who typically live in rural areas. USDA announced it was temporarily reopening Farm Services Agency offices, a separate branch of the USDA, on Wednesday to process farming loans during the shutdown. 

read more here:
https://www.scotsmanguide.com/News/2019/01/Realtors-call-for-restart-of-the-USDA-loan-program/



“The USDA loan is the one that is 100 percent you don't need a down payment,” Moberly explained. “So of course that is a very popular loan. But at the same time, obviously we'd rather get you closed and into a home. So if that's not going to be the case where the shutdown doesn't stop, then we need to move you to a different program.”
Federal Housing Administration and Veterans Affairs home loans have not seen an impact locally and are still closing on time. Once other loan programs are affected, Moberly said the impact of the shutdown will become more of a concern.




USDA originators have told Scotsman Guide News they haven’t been able to close on loans that didn’t have commitments from the USDA prior to the shutdown. The USDA-loan program is relatively small in scale. It is designed for lower- to mid-income households in specific geographic areas that require up to 100 percent financing.  
According to the American Enterprise Institute, USDA guaranteed 103,000 home-purchase loans and 1,200 refinances in 2018 through October.  
The Community Home Lenders Association (CHLA), which represents nonbanks, also has called on the Trump administration to restart the program.
“The shutdown has cast a pall over our members' ability to originate RHS [Rural Housing Services] loans for their borrowers, and just yesterday a [CHLA] member indicated they can't get an RHS-loan payoff done and RHS is not responding,” said CHLA Executive Director Scott Olson. Olson said the shutdown has also begun to cause “headaches” for lenders in programs not directly impacted by the shutdown.  
“The mortgage industry is trying to do workarounds of various things, but the longer the shutdown goes on, the harder it is to do that,” Olson said.


https://www.scotsmanguide.com/News/2019/01/Realtors-call-for-restart-of-the-USDA-loan-program/






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.

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Friday, January 4, 2019

Kentucky USDA Rural Housing Loans : USDA Mortgage Loans in Kentucky Are Currently Shut...





Kentucky USDA Rural Housing Loans : USDA Mortgage Loans in Kentucky Are Currently Shut...: Kentucky Rural Housing Loans issued by the USDA During the government shutdown, Federal Government Partial Shutdown 2019 and...







Federal Government Shutdown – Kentucky USDA Loans
















As a reminder, Kentucky USDA Rural Housing Loans will not Clear to Close, Fund or Purchase loans without Conditional Commitments from USDA. Due to the government shutdown and USDA not currently being staffed to issue Conditional Commitments, there may be significant delays in approvals and loan closings or purchases. Kentucky Homebuyers are encouraged to seek out alternative options to better serve Borrowers during the government shutdown. For additional information, refer to the Rural Development Plan for Operations in the Absence of Appropriations.















































Joel Lobb
Mortgage Loan Officer


Individual NMLS ID #57916






American Mortgage Solutions, Inc.


10602 Timberwood Circle


Louisville, KY 40223


Company NMLS ID #1364






click here for directions to our office





Text/call: 502-905-3708


fax: 502-327-9119
email: kentuckyloan@gmail.com










https://www.mylouisvillekentuckymortgage.com/