Tuesday, March 11, 2014

Kentucky Mortgage Underwriting Guidelines Updated 2014 for USDA Rural Housing Loans, Self-Employed and Earnest Money Deposits

  • Kentucky  USDA Map changes are scheduled to take effect 10/1/2014
  • Tax transcripts are required on all Kentucky self employed borrowers, commission borrowers, schedule E or C filed or unreimbursed expenses IF trying to use income for the 2013 year.  THIS DOES NOT APPLY TO STANDARD WAGE EARNERS.
  • Earnest Money Deposits will require the funds to be sourced on all Kentucky Purchase contracts for mortgage loans.  This condition will be applicable on all loan types.  Acceptable documentation will be, but not limited to: bank statement showing clearing of check or withdrawal of funds to match EMD amount.


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