Wednesday, January 29, 2014

News on Kentucky Rural Housing Development Eligible Areas

News on Kentucky Rural Housing Development Eligible Areas
Kentucky Census Eligibility Maps for RHS Loans
Barring Congressional action, USDA will begin using 2010 Census data to determine eligible rural areas for Kentucky Rural Development housing programs on October 1, 2014.  Changes to eligible areas can be viewed by selecting the applicable program listed under “Future Eligible Areas” at
NOTE:  Complete applications received prior to October 1, 2014, will continue to use the existing eligible rural area definitions based on 2000 Census data.
The uncertainty of whether an area will be eligible or not has been challenging for everyone. You can encourage buyers to move ahead with plenty of time to BUY, BUILD, AND REFINANCE using the Kentucky USDA Guaranteed Loan Program. There is ample funding and turns times have been shortened to 6-8 business days. It is a win-win situation for everyone!
Turn times will get better as we receive complete, correct loan packages. Please make sure that the following items have been completed before sending in your loan submissions:
GUS is final
Income Attachment A matches the income in GUS and the 1980-21
1980-21 is filled out completely (use the (2/13) revision) with the correct household members
The appraiser states that the house meets the HUD Handbooks 4150.2 and 4905.1 and has commented if he has appraised the property in the last 36 months
Student loan debt entered in correctly
Read the View Findings page for additional information that may be needed to be submitted with the loan package such as FULL DOCUMENTATION
 If you have questions about the  Kentucky USDA Guaranteed Loan Program, or want to get pre-approved for free,  call or email us below for an exceptional year for you and the future home owners in rural parts of Kentucky.
Joel Lobb
Senior  Loan Officer

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346