FHA eliminates two unnecessary and outdated lending roadblocks

The Federal Housing Administration has taken steps to reduce some of the regulatory burdens that belabor the lending process, releasing two mortgagee letters Tuesday with updated guidelines on home warranty and inspection requirements for single-family FHA loans. FHA Commissioner Brian Montgomery said the moves align with the administration’s goal streamline and update guidelines in an effort to reduce regulatory barriers.

Source: FHA eliminates two unnecessary and outdated lending roadblocksKentucky FHA Guidelines for Inspections and Warranty's

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How to get rid of Mortgage Insurance on a Kentucky Mortgage Loan.

Eliminate FHA Mortgage Insurance On Your Kentucky FHA Loan.
 
 
Mortgage insurance premium can add almost $200 to the payment on a $265,000 FHA mortgage.  The decision to get an FHA loan may have been the lower down payment requirement or the lower credit score levels, but now that you have the loan, is it possible to eliminate it?
 
Mortgage Insurance Premium protects lenders in case of a borrower’s default and is required on FHA loans.  The Up-Front MIP is currently 1.75% of the base loan amount and paid at the time of closing.  Annual MIP for loans with greater than 95% loan-to-value is .85% per year. 
 
For loans with FHA case numbers assigned before June 3, 2013, when the loan is paid down to 78% of the original loan amount, the MIP can be cancelled.  The borrower may need to contact the current servicer.
 
However, for loans greater than 90% with FHA case numbers assigned on or after that date, the MIP is required for the term of the loan.
 
Most homeowners with FHA mortgages are not eligible to cancel the MIP because they either originated their loan after June 3, 2013, put less than 10% down payment and/or got a 30-year loan.  If they have at least 20% equity in the home, they can refinance the home with an 80% conventional loan which in most cases, does not require mortgage insurance.
 
With normal amortization on a 30-year loan, it takes approximately 11-years to reduce the original loan to the 78-80% requirement based on normal amortization.  There is another dynamic involved which is the appreciation on the home.  As the home goes up in value and the unpaid balance goes down, the equity increases.
 
If the homeowners believe that they have enough equity that would eliminate the need for mortgage insurance, they can investigate refinancing with a conventional loan.  Borrowers refinancing will incur expenses in starting a new mortgage and the interest rate may be higher than the existing rate.  Analysis will determine how long it will take to recapture the cost of refinancing.
 
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.

2019 Kentucky FHA Mortgage Loan Limits

All Kentucky Counties received a loan amount increase in 2019 for FHA loans made starting January 1, 2019

The new loan limits are effective with case numbers assigned on
or after January 1, 2019

Most Kentucky Counties will have a max of $314, 827 for 2019 FHA loans made in KY.
To find the Kentucky FHA  loan limit for a specific county in Kentucky for 2019, please use the link below.

Kentucky FHA Limits for 2019

Kentucky FHA Limits for 2019

 

120 match(es) found.
ADAIR County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ALLEN County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ANDERSON County
FRANKFORT, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BALLARD County
PADUCAH, KY-IL
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BARREN County
GLASGOW, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BATH County
MOUNT STERLING, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BELL County
MIDDLESBOROUGH, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BOONE County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BOURBON County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BOYD County
HUNTINGTON-ASHLAND, WV-KY-OH
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BOYLE County
DANVILLE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BRACKEN County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BREATHITT County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BRECKINRIDGE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
BULLITT County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
BUTLER County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CALDWELL County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CALLOWAY County
MURRAY, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CAMPBELL County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CARLISLE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CARROLL County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CARTER County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CASEY County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CHRISTIAN County
CLARKSVILLE, TN-KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CLARK County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CLAY County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CLINTON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CRITTENDEN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
CUMBERLAND County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
DAVIESS County
OWENSBORO, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
EDMONSON County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ELLIOTT County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ESTILL County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
FAYETTE County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
FLEMING County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
FLOYD County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
FRANKLIN County
FRANKFORT, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
FULTON County
UNION CITY, TN-KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GALLATIN County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GARRARD County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GRANT County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GRAVES County
MAYFIELD, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GRAYSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GREEN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
GREENUP County
HUNTINGTON-ASHLAND, WV-KY-OH
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HANCOCK County
OWENSBORO, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HARDIN County
ELIZABETHTOWN-FORT KNOX, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HARLAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HARRISON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HART County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HENDERSON County
EVANSVILLE, IN-KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HENRY County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
HICKMAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
HOPKINS County
MADISONVILLE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
JACKSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
JEFFERSON County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
JESSAMINE County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
JOHNSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
KENTON County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
KNOTT County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
KNOX County
LONDON, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LARUE County
ELIZABETHTOWN-FORT KNOX, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LAUREL County
LONDON, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LAWRENCE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LEE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LESLIE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LETCHER County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LEWIS County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LINCOLN County
DANVILLE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LIVINGSTON County
PADUCAH, KY-IL
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LOGAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
LYON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MADISON County
RICHMOND-BEREA, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MAGOFFIN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MARION County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MARSHALL County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MARTIN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MASON County
MAYSVILLE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MCCRACKEN County
PADUCAH, KY-IL
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MCCREARY County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MCLEAN County
OWENSBORO, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MEADE County
ELIZABETHTOWN-FORT KNOX, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MENIFEE County
MOUNT STERLING, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MERCER County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
METCALFE County
GLASGOW, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MONROE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MONTGOMERY County
MOUNT STERLING, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MORGAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
MUHLENBERG County
CENTRAL CITY, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
NELSON County
BARDSTOWN, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
NICHOLAS County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
OHIO County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
OLDHAM County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
OWEN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
OWSLEY County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
PENDLETON County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
PERRY County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
PIKE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
POWELL County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
PULASKI County
SOMERSET, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ROBERTSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ROCKCASTLE County
RICHMOND-BEREA, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
ROWAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
RUSSELL County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
SCOTT County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
SHELBY County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
SIMPSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
SPENCER County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
TAYLOR County
CAMPBELLSVILLE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
TODD County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
TRIGG County
CLARKSVILLE, TN-KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
TRIMBLE County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$316,250 $404,850 $489,350 $608,150
UNION County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WARREN County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WASHINGTON County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WAYNE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WEBSTER County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WHITLEY County
LONDON, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WOLFE County
NON-METRO
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525
WOODFORD County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$314,827 $403,125 $487,250 $605,525

 

 

 

 

👇👇👇👇👇

https://entp.hud.gov/idapp/html/hicostlook.cfm

 

 
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.

KENTUCKY HUD HOMES FOR SALE

KENTUCKY FHA $100 DOWN PROGRAM FOR HOMEBUYERS IN KENTUCKY​

Kiss-your-landlord-goodbye


FHA’s $100 Down Program​ is allowed for Kentucky Home Buyers buying a home that is owned by HUD or FHA​. The $100 Down sales incentive permits a Borrower to purchase a HUD REO Property with FHA-insured financing with a minimum downpayment of $100.

This program can ONLY be used to purchase homes owned by HUD OR FHA.

Check the link below to see if any properties are offered in your area. If a property is eligible, the listing on the website will specify $100 Down Financing Incentivize.

You can find all current listings for sale by HUD here.

100 down payment

The main factors in qualifying for this​ Kentucky FHA ​ program are that the property must be a HUD REO property and purchased using FHA Financing, aside from these, the requirements include:

  1. Occupancy: The property must be purchased for use as your Primary Residence.
  1. Property Type: Eligible properties include 1 or 2 unit homes, manufactured homes, condos, and PUDs.
  1. Full Price Offer: You must submit an offer for the full listing price. Typically, when you purchase a home, you make an offer to the seller…. we all want to get the best deal so you may offer less than the asking price… or you may offer more if the home you want is being bid on by many buyers…. With HUD REO properties this is not allowed. The sales price HUD has on the listing is what you must offer.
  1. Sales Contract: The $100 down payment incentive must be included on the executed sales contract.
  1. Cannot have purchased a HUD home within the preceding 24 months
  1. Credit Score:​ ​580 is the minimum FICO score you must have to qualify for a FHA Kentucky Home Buyer using the HUD $100 Down loan program. 
  2. Usually takes about 30-45 days to close
  3. Earnest Money Deposit usually needs to be at least $500 to $1000
  4. This is a manual underwriter meaning that your debt to income ratio has to be 31 and 43% respectively
  5. No Chapter 7 Bankruptcies in last two years
  6. No Foreclosures in last 3 years
  7. Clear Cavirs on borrowers.
*Required field, except if Property Case # or Zip Code is entered

Search Results for HUD Homes in KY

1 | 2 | 3 | 
47 listings found
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details 
201-271516 345 Concord Dr
White Plains, KY, 42464
Hopkins County
$13,600 3 1.00 Extended  11/29/2018 View Street
Map it
Email Info
201-278709 793 Highway 16
Glencoe, KY, 41046
Gallatin County
$24,000 3 2.00 Extended  11/29/2018 View Street
Map it
Email Info
201-339965 2750 Latonia Ave
Covington, KY, 41015
Kenton County
$33,600 2 1.10 Exclusive  12/03/2018 View Street
Map it
Email Info
201-340924 1309 Little Pigeon Ct
Lexington, KY, 40515
Fayette County
$63,000 3 1.00 Lottery  11/29/2018 View Street
Map it
Email Info
201-347762 307 Elkhorn Green Pl
Georgetown, KY, 40324
Scott County
$105,000 4 2.10 Exclusive  11/29/2018 View Street
Map it
Email Info
201-348170 820 Mars Dr
Verona, KY, 41092
Gallatin County
$48,000 3 2.00 Extended  11/29/2018 View Street
Map it
Email Info
201-362370 194 Batton Loop
Morehead, KY, 40351
Rowan County
$59,400 3 2.00 Extended  11/29/2018 View Street
Map it
Email Info
201-368065 199 Lake Trail Land
Russell Springs, KY, 42642
Russell County
$34,400 3 2.00 Extended  11/29/2018 View Street
Map it
Email Info
201-370012 112 Cherry Lane
Frankfort, KY, 40601
Franklin County
$50,000 2 2.00 Exclusive  12/03/2018 View Street
Map it
Email Info
201-372013 10057 Elizabethtown Rd
Big Clifty, KY, 42712
Grayson County
$32,000 3 2.00 Extended  11/29/2018 View Street
Map it
Email Info
201-386189 4701 Dohn Rd
Louisville, KY, 40216
Jefferson County
$51,000 3 1.00 Exclusive  12/10/2018 View Street
Map it
Email Info
201-387184 12804 Walnut Creek Dr
Alexandria, KY, 41001
Campbell County
$159,000 4 2.10 Extended  11/29/2018 View Street
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201-391357 38 Lovelaceville Rd
Lovelaceville, KY, 42060
Ballard County
$19,600 2 1.00 Extended  11/29/2018 View Street
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201-393499 620 Main Street
Uniontown, KY, 42461
Union County
$26,100 3 1.00 Extended  11/29/2018 View Street
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201-396375 119 Crane St
Somerset, KY, 42501
Pulaski County
$30,000 2 1.00 Exclusive  11/29/2018 View Street
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201-401444 151 Eastside Park Dr
Butler, KY, 41006
Pendleton County
$50,400 3 2.00 Extended  11/29/2018 View Street
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201-407845 824 Pike St
Sadieville, KY, 40370
Scott County
$27,000 1 1.00 Extended  11/29/2018 View Street
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201-411349 115 Jimmy Lovell Ro
Dawson Springs, KY, 42408
Hopkins County
$75,000 2 1.10 Exclusive  12/10/2018 View Street
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201-412276 386 W Elm St
Clay, KY, 42404
Webster County
$35,000 3 2.10 Exclusive  12/03/2018 View Street
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201-417838 147 Main Street
Newport, KY, 41071
Campbell County
$38,500 1 1.00 Extended  11/29/2018 View Street
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1 | 2 | 3 
 

Search Results for HUD Homes in KY

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47 listings found
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details 
201-427873 229 Rosedale Ct
Covington, KY, 41015
Kenton County
$42,400 2 1.00 Extended  11/29/2018 View Street
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201-445853 902 Deer Haven Dr
Owensboro, KY, 42301
Daviess County
$63,000 3 2.00 Extended  11/29/2018 View Street
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201-448631 13302 Horncastle Ave
Louisville, KY, 40272
Jefferson County
$65,000 4 1.10 Exclusive  11/30/2018 View Street
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201-461769 511 1/2 Cleaver St
Elizabethtown, KY, 42701
Hardin County
$20,000 1 1.00 Exclusive  12/03/2018 View Street
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201-481525 216 10th St
Carrollton, KY, 41008
Carroll County
$117,000 4 2.00 Extended  11/29/2018 View Street
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201-483660 204 Village Dr
Frankfort, KY, 40601
Franklin County
$143,000 3 2.10 Exclusive  11/29/2018 View Street
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201-484750 3256 N Highway 259
Hardinsburg, KY, 40143
Breckinridge County
$45,000 3 1.00 Extended  11/29/2018 View Street
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201-503727 207 Canyon Ridge Rd
Wellington, KY, 40387
Menifee County
$76,000 3 2.00 Extended  11/29/2018 View Street
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201-510934 5685 Old State Rd
Guston, KY, 40142
Meade County
$60,000 3 1.00 Extended  11/29/2018 View Street
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201-513130 109 W Chestnut St
Carlisle, KY, 40311
Nicholas County
$73,000 3 2.00 Exclusive  11/29/2018 View Street
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201-528046 330 Brookside Dr
Danville, KY, 40422
Boyle County
$175,000 4 3.00 Extended  11/29/2018 View Street
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201-536556 1504 Robinson St
Grayson, KY, 41143
Carter County
$46,400 3 1.00 Extended  11/29/2018 View Street
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201-537032 307 Liberty St
Carlisle, KY, 40311
Nicholas County
$40,000 3 1.00 Exclusive  11/29/2018 View Street
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201-546596 38 Harrison Holw
Belfry, KY, 41514
Pike County
$7,000 0 0.00 Extended  11/29/2018 View Street
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201-547160 324 Malone Rd
Bradfordsville, KY, 40009
Marion County
$40,000 3 2.00 Exclusive  12/07/2018 View Street
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201-550376 3904 Taffy Rd
Whitesville, KY, 42378
Ohio County
$50,000 3 2.00 Extended  11/29/2018 View Street
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201-557096 237 Wright St
Frankfort, KY, 40601
Franklin County
$40,000 3 1.00 Extended  11/29/2018 View Street
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201-560972 5457 Ky Route 680
Grethel, KY, 41631
Floyd County
$76,000 4 2.10 Extended  11/29/2018 View Street
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201-576631 67 Snake Lick Rd
Berry, KY, 41003
Harrison County
$45,000 3 2.00 Exclusive  11/29/2018 View Street
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201-580027 255 Kingsway Dr
Frankfort, KY, 40601
Franklin County
$65,000 3 2.00 Extended  11/29/2018 View Street
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1 | 2 | 3 | 

Search Results for HUD Homes in KY

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47 listings found
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details 
201-580611 2410 Paddock Ln
Louisville, KY, 40216
Jefferson County
$88,000 4 1.00 Exclusive  11/30/2018 View Street
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201-580733 2294 Josephine Rd
Stamping Ground, KY, 40379
Scott County
$108,000 4 2.00 Extended  11/29/2018 View Street
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201-583071 104 Jonathan Ct
Somerset, KY, 42503
Pulaski County
$108,900 4 2.00 Extended  11/29/2018 View Street
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201-590501 13255 Dawson Springs Rd
Crofton, KY, 42217
Christian County
$45,000 3 1.00 Exclusive  12/07/2018 View Street
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201-601254 1044 Scenic Dr
Radcliff, KY, 40160
Hardin County
$132,300 3 2.00 Extended  11/29/2018 View Street
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201-604473 8180 Georgetown Rd
Owenton, KY, 40359
Owen County
$69,000 3 2.00 Exclusive  12/07/2018 View Street
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202-019773 516 Wood Street
Maysville, KY, 41056
Mason County
$25,000 3 1.00 Extended  11/29/2018 View Street
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1 | 2 | 3 | 

 FHA Mortgage Loans- Gifts to Pay off Debt to Qualify for a FHA Home Loan.

 

FHA Loans in Kentucky  – Gifts to Pay off Debt

Do you know that a gift can be used to pay off Borrower’s debts to qualify on an Kentucky FHA Loan?

A regular gift (this does not include a gift of equity) may be used to pay off a Borrower’s debt(s) for qualifying purposes as long as both the gift funds and the debt(s) being paid off with the gift funds are accurately disclosed and assessed by AUS TOTAL Scorecard. Whenever a gift is received on an Kentucky FHA loan, regardless of what it is being used for, it carries certain risks that must be assessed by TOTAL Scorecard for qualifying purposes.

When a gift is received to pay off debt(s), follow the steps below to ensure that TOTAL Scorecard accurately assesses the risk of using gift funds in paying off debt for qualifying:

  • Verify that evidence of the debt(s) having a zero balance has been obtained,
  • Enter the gift funds received separate from any account balances and check “will be paid off” for debts in loan origination system (not “paid off”), and
  • Submit the loan to TOTAL Scorecard
 
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.

How long do you have to wait to get approved for a mortgage loan after a bankruptcy in Kentucky?

GETTING A MORTGAGE LOAN IN KENTUCKY WHEN YOU HAVE HAD A BANKRUPTCY
ARE YOU CURRENTLY IN A CHAPTER 13 BANKRUPTCY OR HAD A CHAPTER 7 BANKRUPTCY IN THE PAST?

Qualifying For A Kentucky Mortgage After Bankruptcy

Home Buyers can qualify for a Kentucky mortgage after bankruptcy:

  • 2 year waiting period to qualify for FHA Loan to qualify for a FHA Loans after discharge of Chapter 7.
  • One year into a Chapter 7 Bankruptcy to qualify for a Chapter Loan into a Chapter 13 Bankruptcy repayment plan.
  • No waiting period after a Chapter 13 Bankruptcy discharge date.
  • 4 year waiting period to qualify for a Chapter 7 Bankruptcy discharge date to qualify for a Conventional Loan.
  • Two year waiting period to qualify for a Chapter 13 after Chatper 13 discharged date to qualify for a Conventional Loan.
  • Four year waiting period to qualify for a Conventional Loan if you had a mortgage part of bankruptcy but the foreclosure needs to be be finalized

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Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
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/
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#57916 http://www.nmlsconsumeraccess.org/
 

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. Mortgage loans only offered in Kentucky.

Kentucky FHA loans after a bankruptcies, foreclosures, deeds-in-lieu of foreclosure, pre-foreclosures, short sales, and mortgage charge-offs.

Kentucky FHA loans after a significant derogatory credit events which include bankruptcies, foreclosures, deeds-in-lieu of foreclosure, pre-foreclosures, short sales, and mortgage charge-offs.

A Chapter 7 bankruptcy – MUST be discharged at least 2 years from Case Number Assignment Date. Requirements
include:
1. Complete Copy of Bankruptcy paperwork MUST be provided
2. Borrower must write a detailed explanation explaining the reason for the Bankruptcy
3. The Borrower must have re-established good credit; or chosen not to incur new credit obligations.
4. An elapsed period of less than two years, but not less than 12 months, may be acceptable, if the Borrower:
– Can show that the bankruptcy was caused by extenuating circumstances beyond the Borrower’s control; and
– Has since exhibited a documented ability to manage their financial affairs in a responsible manner.
– If a Chapter 7 is discharged less than 2 years from the date of Case Number Assignment Date the loan must be downgraded to Manual Underwriting and meet all requirements listed in HUD 4000.1 Handbook

 

Chapter 13 must be discharged ** Requirements include:
1. Complete Copy of Bankruptcy paperwork MUST be provided
2. Borrower must write a detailed explanation explaining the reason for the Bankruptcy
3. The Borrower must have re-established good credit; or chosen not to incur new credit obligations.
4. An elapsed period of less than two years, but not less than 12 months, may be acceptable, if the Borrower:
‐ Can show that the bankruptcy was caused by extenuating circumstances beyond the Borrower’scontrol; and
‐ Has since exhibited a documented ability to manage their financial affairs in a responsible manner.

5. If a Chapter 13 is discharged less than 2 years from the date of Case Number Assignment Date the loan must be downgraded to Manual Underwriting and meet all requirements listed in HUD 4000.1 Handbook

Foreclosure/Deed-in-Lieu
1. A Borrower is generally not eligible for a new FHA-insured Mortgage if the Borrower had a foreclosure or a DIL of foreclosure in the three-year period prior to the date of Case Number Assignment.
2. This three-year period begins on the date of the DIL or the date that the Borrower transferred ownership of the Property to the foreclosing Entity/designee.

Short Sale

1. A Borrower is generally not eligible for a new FHA-insured Mortgage if they relinquished a Property through a Short Sale within three years from the date of Case Number Assignment.
2. The three-year period begins on the date of transfer of title by Short Sale.

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Kentucky FHA Loan

FHA loans are good for home buyers with lower credit scores and no much down, or with down payment assistance grants. FHA will allow for grants, gifts, for their 3.5% minimum investment and will go down to a 580 credit score.

The current mortgage insurance requirements are kinda steep when compared to USDA, VA , but the rates are usually good so it can counteract the high mi premiums. As I tell borrowers, you will not have the loan for 30 years, so don’t worry too much about the mi premiums.

The mi premiums are for life of loan like USDA.

FHA requires 2 years removed from bankruptcy and 3 years removed from foreclosure.

Maximum FHA loan limits in Kentucky are set around $285,000 -$299,000 depending on the county in Kentucky

Joel Lobb
Senior Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
10602 Timberwood Circle, Suite 3
Louisville, KY 40223

text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice.

Joel E Lobb
American Mortgage
5029053708
email us here

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.

Kentucky FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans.