Friday, October 4, 2013

Kentucky FHA, Kentucky VA and USDA loans


If you’re a prospective Kentucky first-time home buyer  we have some great news: We've added Kentucky FHA,  Kentucky VA and USDA loans to our current mortgage options in Kentucky !

Kentucky FHA Loans
These mortgages are insured by the FHA (Federal Housing Administration), which is part of HUD (U.S. Department of Housing and Urban Development), making it possible for us to offer a more affordable opportunity to our members. Here are some of the features of an FHA loan:

  • Down payments as low as 3.5%
  • Low closing costs — the seller can pay up to 6% towards closing costs
  • Easy credit qualifying
  • Closing costs can be included in the loan
  • Ideal for Kentucky first-time home buyers

Kentucky VA Guaranteed Home Loans
Kentucky VA guaranteed loans offer benefits to assist eligible veterans in buying a home. These loans have a guaranty provided by the Department of Veterans Affairs that enables lenders to finance mortgages without requiring a down payment*. Other features include:

  • Competitive interest rate
  • No mortgage insurance premiums
  • Seller can pay up to 4% towards closing costs
  • No pre-payment penalties 
 Those eligible for VA loans are:
  • Veterans
  • Active duty personnel
  • Reservists/National Guard members
  • Some surviving spouses

*Unless required by the lender or the purchase price exceeds the reasonable value of the property.


Kentucky USDA Guaranteed Rural Housing Home Loans
USDA guaranteed loans are designed to make home ownership possible for low- and moderate-income families. Offered through USDA Rural Development, these loans feature:

  • No down payment requirement
  • Low monthly mortgage insurance premiums
  • Flexible credit and qualifying guidelines

Eligibility requirements include (but are not limited to):

  • Borrowers must not currently have adequate housing
  • Borrowers must occupy the purchased home
  • Homes must be in a residential Rural Development eligible area

For more information and to apply for an Kentucky FHA, VA, USDA or other type of Kentucky mortgage, contact one of our and take the next step toward home ownership today!


-- 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
 
http://mylouisvillekentuckymortgage.com 


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