Thursday, September 19, 2013

Kentucky Housing Interest Rates KHC for 09/19/2013

Interest Rates

Interest Rates

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Rates subject to change without notice.

MRB Special Funding  
Limited Availabilty  
Interest Rate:  2.50% without Down Payment Assistance 
                      3.00% with Down Payment Assistance 
  • $35,000 Household Income Limit
  • First time home buyer, unless property located in targeted county
  • Existing or new construction property -- purchase price limit $115,000 
  • Regular and Affordable DAP available
  • FHA, VA or RHS first mortgage programs through MRB Funding
  • 640 credit score
  • Borrower must demonstrate a need for the special funding.  The borrower's housing ratio must be at a minimum of 25%. 
  • Maximum ratios of 40/45% with AUS approval.
  • All household occupants (18 yrs and older) with income must be included on loan and be credit ready.
 

Secondary Market Interest Rates -- 45-Day Lock  


Loan Type 

Rate without Down Payment Assistance 

Rate with Down Payment Assistance 
FHA, VA & RHS 
  • 640 credit score
  • AUS approval
  • Purchases & Refinances
 
4.250% 
 4.750% 
Conventional 
  • 680 credit score
  • No MI required
  • LTV 80.01% -97.00%
  • *DU AUS approval 
  • Purchases
 
5.375% 
5.625% 

Mortgage Revenue Bond Interest Rates -- 45-Day Lock


Loan Type 

Rate without Down Payment Assistance 

Rate with Down Payment Assistance 
FHA, VA & RHS 
  • 640 credit score
  • AUS approval
  • Purchases 
 
4.250% 
 4.750 
Conventional 
  • 680 credit score
  • No MI required
  • LTV 80.01% -97.00%
  • *DU AUS approval 
  • Purchases  
 
5.375% 
5.625%