Kentucky FHA Loan Requirements For Loan Approval.

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FHA Handbook 4000.1 Updates

Administration (FHA) Single Family Housing Policy Handbook 4000.1. These updates are effective September 30, 2016 and

 Clarification that an Upfront Mortgage Insurance Premium (UFMIP) refund calculation applies even if original UFMIP was
not financed.
 Mortgage Debt Not Included in Credit Report: Clarification that a manual downgrade is not required when there is no history of late payments, as detailed below.
o Not currently delinquent; and
o No 30 day late payments within 12 months of the case number assignment date; and
o No more than 2 x 30 day late payments within 24 months of the case number assignment date.
 A link has been added in the FHA Product Description from Mortgage Payment History requirements to “Credit History
Requirements for Manually Underwritten Loans.”
Appliances that add contributory value must be operable.
 Mechanical components and utilities: The appraiser must report the utility, safety, and capacity of the mechanical systems.
The appraiser must observe and operate all applicable mechanical systems and utilities. In conjunction with this guidance,
existing FHA Handbook guidance on the following topics will be added:
o Electrical System
o Heating and Cooling
o Plumbing
o Utilities

If you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.


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 views of my employer. Not all products or services mentioned on this site may fit all people

FHA mortgage insurance premiums won’t be going down in 2015 | 2014-11-18 | HousingWire

FHA mortgage insurance premiums won’t be going down in 2015 | 2014-11-18 | HousingWire.

Frequently Asked Questions about FHA Kentucky Home Loans

Frequently Asked Questions about FHA Kentucky Home Loans.

via Frequently Asked Questions about FHA Kentucky Home Loans.

 

FHA to 50%…up to 55% with comp factors and a strong borrower

Manual UW’s on FHA/ to 620 Score

FHA purchases and R/t refi’s down to a 580 with DU Approved Eligible

— 

 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
 
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

Underwriting Rental Income for a Kentucky Mortgage Loan in 2014

Underwriting Rental Income.

 

Rental income can be used if all of the following conditions apply:

• The borrower has a two year history of managing rental properties as demonstrated by two years personal tax returns (1040’s) and schedule E.
• If the borrower wishes to qualify with rental income on the subject property in an investment transaction, they must provide evidence of rent loss insurance to cover six month’s rent in the event of a property vacancy.
• If the borrower owns a rental property that is not yet reflected on schedule E, they may use income from this property to qualify with a lease agreement. However, if the borrower does not have a two year demonstrated history of managing rental properties, this guideline is not valid. Also note, when a property is reflecting on the schedule E of the personal tax returns, lease agreements may not be used to determine qualifying income for any reason.

Once the gross rental income has been calculated from the schedule E of the tax returns OR using 75% of the monthly lease payment, you must deduct the monthly housing expense to determine net rental income. Net rental income is the final figure that is used to calculate the total debt ratio.

For example:

• Using a 24 month average of the calculated schedule E the underwriter has determined there is $300 monthly gross rental income.
• The underwriter then verifies the monthly PITI (principle, interest, taxes, and insurance) of $450 on the rental property. Note: If the rental property has a mortgage insurance or homeowners association dues expense, these amounts will be included in the PITI calculation.
• $300 gross rental income minus $450 monthly PITI nets a rental loss of $150. As a result, a $150 monthly liability is added to the total debt ratio.
This calculation is commonly referred to as “washing” the housing expenses on the property. Even though we still have a net loss that is included in the debt ratio, we were able to “wash” $300 of the $450 monthly PITI thereby improving our total debt ratios.

— 


Joel Lobb
Senior  Loan Officer

(NMLS#57916)
 
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

Wells Fargo cheered by Realogy, Home Depot leaders for loosening up on FHA loans | Inman News

Wells Fargo cheered by Realogy, Home Depot leaders for loosening up on FHA loans | Inman News.

via Wells Fargo cheered by Realogy, Home Depot leaders for loosening up on FHA loans | Inman News.

Louisville Ky FHA Loans

Free Home Loan Application-Call today at 502-905-3708 or email kentuckyloan@gmail.com for your free credit application today
NMLS# 57916
Equal Housing Lender

Louisville Ky FHA Loans.

via Louisville Ky FHA Loans.

Louisville Ky FHA Loans

Louisville Ky FHA Loans

The Federal Housing Administration (FHA) is a federal agency within the U.S. Department of Housing and Urban Development (HUD). FHA’s primary objective is to assist in providing housing opportunities for lo to moderate income families. FHA has both single family (1-4 unit homes) and multi-family (5 or more units) mortgage lending programs. The agency does not generally provide funds for the mortgages, but rather insures home mortgage loans made by private industry lenders such as mortgage bankers, savings and loans and banks.


Is there a Loan Limit on Louisville Ky FHA Loans?
FHA Maximum Loan Amounts are set by HUD for every county in the United States. Maximum loan amounts vary from one county to another. It is critical that the borrower’s loan amount, including financed closing costs, not exceed the maximum set by FHA for the county in which the subject property is located. There are no income limits on Louisville Ky FHA Loans  . Check with you Loan Consultant for the maximum Mortgage amount allowed in the county you are considering purchasing a home in.


Is Mortgage Insurance Required On Louisville Ky FHA Loans?
FHA is a government insured program with a unique mortgage insurance program. Although not as expensive monthly, you have an up front MIP fee. FHA requires a mortgage insurance premium on the 203(b) program. An up front premium of  1.0% of the loan amount is paid at closing and can be financed into the mortgage amount. In addition there is a monthly MIP amount included in the PITI of 1.15% . Condos do not require up front MIP, only monthly MIP.


Can I Use Gift Funds for the Down Payment for a Louisville Ky FHA Loans   ?

One of the most popular aspect of FHA financing is the ability to receive your down payment as a gift. It just needs to be from a relative. The down payment can be 100% gift funds. This is one of the key benefits to the Louisville Ky FHA Loans and FHA program. Most conventional mortgages do not allow 100% gift funds. Generally the borrower must have 5% of the funds.

Verification of the source of gift money is not required. However, it is necessary that the gift funds be deposited in the borrower’s bank account, or in an escrow account, prior to underwriting approval. Proof of deposit is required.

Gift donors are restricted primarily to a relative of the borrower. They can also be certain organizations, such as a labor union or charitable organization. Contact your Loan Consultant for complete information.


What are the Rules Regarding Bankruptcy for a Louisville Ky FHA Loans?
FHA may have the most lenient policies towards bankruptcy, but you still must have a valid reason and re-established credit. Generally, a bankruptcy will not necessarily disqualify a potential borrower. Guidelines are as follows:

Chapter 7: Two years must have passed since the bankruptcy was discharged. (Note: Discharge, not Filing Date) The borrower must have re-established good credit without delinquencies for two years (or has chosen not to incur new credit obligations), and has demonstrated an ability to manage financial affairs. If the borrower does not incur new credit, such thing as, Car Insurance, Telephone, Cable, Utilities, Medical Payments, Etc. will be used to demonstrate re-established credit.

Chapter 13: A borrower currently paying off debts through this process may qualify if a minimum of one year of the pay out period had elapsed and payment performance has been satisfactory with no new derogatory credit and the borrower must receive court approval to enter into the mortgage transaction.

Louisville Ky FHA Loans

Call me for your next Louisville Kentucky FHA Loan; I have closed over 300 FHA loans in my career

2011 Kentucky FHA Mortgage Loan Limits

2011 Kentucky FHA Mortgage Loan Limits

 

Kentucky FHA Mortgage Limits List – FHA Forward

Message: MORTGAGE LIMITS SUCCESSFULLY COMPLETED

Mortgage maximums as of Wednesday November 30, 2011
(120 records were selected, records 1 through 50 displayed)

MSA Name MSA Code Division County Name County
Code
State One-Family Two-Family Three-Family Four-Family Median Sale Price Last Revised Limit Year
NON-METRO 99999   ADAIR 001 KY $271,050 $347,000 $419,425 $521,250 $73,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   ALLEN 003 KY $271,050 $347,000 $419,425 $521,250 $89,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
FRANKFORT, KY (MICRO) 23180   ANDERSON 005 KY $271,050 $347,000 $419,425 $521,250 $115,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
PADUCAH, KY-IL (MICRO) 37140   BALLARD 007 KY $271,050 $347,000 $419,425 $521,250 $83,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
GLASGOW, KY (MICRO) 23980   BARREN 009 KY $271,050 $347,000 $419,425 $521,250 $105,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MOUNT STERLING, KY (MICRO) 34460   BATH 011 KY $271,050 $347,000 $419,425 $521,250 $85,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MIDDLESBOROUGH, KY (MICRO) 33180   BELL 013 KY $271,050 $347,000 $419,425 $521,250 $67,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   BOONE 015 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LEXINGTON-FAYETTE, KY (MSA) 30460   BOURBON 017 KY $271,050 $347,000 $419,425 $521,250 $161,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
HUNTINGTON-ASHLAND, WV-KY-OH (MSA) 26580   BOYD 019 KY $271,050 $347,000 $419,425 $521,250 $115,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
DANVILLE, KY (MICRO) 19220   BOYLE 021 KY $271,050 $347,000 $419,425 $521,250 $114,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   BRACKEN 023 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   BREATHITT 025 KY $271,050 $347,000 $419,425 $521,250 $51,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   BRECKINRIDGE 027 KY $271,050 $347,000 $419,425 $521,250 $60,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   BULLITT 029 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   BUTLER 031 KY $271,050 $347,000 $419,425 $521,250 $85,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CALDWELL 033 KY $271,050 $347,000 $419,425 $521,250 $58,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MURRAY, KY (MICRO) 34660   CALLOWAY 035 KY $271,050 $347,000 $419,425 $521,250 $95,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   CAMPBELL 037 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CARLISLE 039 KY $271,050 $347,000 $419,425 $521,250 $69,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CARROLL 041 KY $271,050 $347,000 $419,425 $521,250 $92,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CARTER 043 KY $271,050 $347,000 $419,425 $521,250 $74,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CASEY 045 KY $271,050 $347,000 $419,425 $521,250 $54,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CLARKSVILLE, TN-KY (MSA) 17300   CHRISTIAN 047 KY $271,050 $347,000 $419,425 $521,250 $136,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LEXINGTON-FAYETTE, KY (MSA) 30460   CLARK 049 KY $271,050 $347,000 $419,425 $521,250 $161,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CLAY 051 KY $271,050 $347,000 $419,425 $521,250 $20,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CLINTON 053 KY $271,050 $347,000 $419,425 $521,250 $33,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CRITTENDEN 055 KY $271,050 $347,000 $419,425 $521,250 $46,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   CUMBERLAND 057 KY $271,050 $347,000 $419,425 $521,250 $59,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
OWENSBORO, KY (MSA) 36980   DAVIESS 059 KY $271,050 $347,000 $419,425 $521,250 $48,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
BOWLING GREEN, KY (MSA) 14540   EDMONSON 061 KY $271,050 $347,000 $419,425 $521,250 $153,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   ELLIOTT 063 KY $271,050 $347,000 $419,425 $521,250 $60,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   ESTILL 065 KY $271,050 $347,000 $419,425 $521,250 $80,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LEXINGTON-FAYETTE, KY (MSA) 30460   FAYETTE 067 KY $271,050 $347,000 $419,425 $521,250 $161,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   FLEMING 069 KY $271,050 $347,000 $419,425 $521,250 $30,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   FLOYD 071 KY $271,050 $347,000 $419,425 $521,250 $68,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
FRANKFORT, KY (MICRO) 23180   FRANKLIN 073 KY $271,050 $347,000 $419,425 $521,250 $115,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
UNION CITY, TN-KY (MICRO) 46460   FULTON 075 KY $271,050 $347,000 $419,425 $521,250 $55,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   GALLATIN 077 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   GARRARD 079 KY $271,050 $347,000 $419,425 $521,250 $92,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   GRANT 081 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MAYFIELD, KY (MICRO) 32460   GRAVES 083 KY $271,050 $347,000 $419,425 $521,250 $71,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   GRAYSON 085 KY $271,050 $347,000 $419,425 $521,250 $76,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   GREEN 087 KY $271,050 $347,000 $419,425 $521,250 $57,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
HUNTINGTON-ASHLAND, WV-KY-OH (MSA) 26580   GREENUP 089 KY $271,050 $347,000 $419,425 $521,250 $115,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
OWENSBORO, KY (MSA) 36980   HANCOCK 091 KY $271,050 $347,000 $419,425 $521,250 $48,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
ELIZABETHTOWN, KY (MSA) 21060   HARDIN 093 KY $271,050 $347,000 $419,425 $521,250 $125,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   HARLAN 095 KY $271,050 $347,000 $419,425 $521,250 $50,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   HARRISON 097 KY $271,050 $347,000 $419,425 $521,250 $70,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   HART 099 KY $271,050 $347,000 $419,425 $521,250 $84,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MSA Name MSA Code Division County Name County
Code
State One-Family Two-Family Three-Family Four-Family Median Sale Price Last Revised Limit Year
EVANSVILLE, IN-KY (MSA) 21780   HENDERSON 101 KY $271,050 $347,000 $419,425 $521,250 $154,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   HENRY 103 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   HICKMAN 105 KY $271,050 $347,000 $419,425 $521,250 $29,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MADISONVILLE, KY (MICRO) 31580   HOPKINS 107 KY $271,050 $347,000 $419,425 $521,250 $80,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   JACKSON 109 KY $271,050 $347,000 $419,425 $521,250 $62,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   JEFFERSON 111 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LEXINGTON-FAYETTE, KY (MSA) 30460   JESSAMINE 113 KY $271,050 $347,000 $419,425 $521,250 $161,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   JOHNSON 115 KY $271,050 $347,000 $419,425 $521,250 $79,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   KENTON 117 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   KNOTT 119 KY $271,050 $347,000 $419,425 $521,250 $73,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   KNOX 121 KY $271,050 $347,000 $419,425 $521,250 $79,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
ELIZABETHTOWN, KY (MSA) 21060   LARUE 123 KY $271,050 $347,000 $419,425 $521,250 $125,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LONDON, KY (MICRO) 30940   LAUREL 125 KY $271,050 $347,000 $419,425 $521,250 $88,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   LAWRENCE 127 KY $271,050 $347,000 $419,425 $521,250 $61,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   LEE 129 KY $271,050 $347,000 $419,425 $521,250 $59,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   LESLIE 131 KY $271,050 $347,000 $419,425 $521,250 $66,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   LETCHER 133 KY $271,050 $347,000 $419,425 $521,250 $56,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MAYSVILLE, KY (MICRO) 32500   LEWIS 135 KY $271,050 $347,000 $419,425 $521,250 $104,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
DANVILLE, KY (MICRO) 19220   LINCOLN 137 KY $271,050 $347,000 $419,425 $521,250 $114,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
PADUCAH, KY-IL (MICRO) 37140   LIVINGSTON 139 KY $271,050 $347,000 $419,425 $521,250 $83,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   LOGAN 141 KY $271,050 $347,000 $419,425 $521,250 $70,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   LYON 143 KY $271,050 $347,000 $419,425 $521,250 $68,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
RICHMOND-BEREA, KY (MICRO) 40080   MADISON 151 KY $271,050 $347,000 $419,425 $521,250 $133,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MAGOFFIN 153 KY $271,050 $347,000 $419,425 $521,250 $68,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MARION 155 KY $271,050 $347,000 $419,425 $521,250 $59,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MARSHALL 157 KY $271,050 $347,000 $419,425 $521,250 $97,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MARTIN 159 KY $271,050 $347,000 $419,425 $521,250 $80,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MAYSVILLE, KY (MICRO) 32500   MASON 161 KY $271,050 $347,000 $419,425 $521,250 $104,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
PADUCAH, KY-IL (MICRO) 37140   MCCRACKEN 145 KY $271,050 $347,000 $419,425 $521,250 $83,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MCCREARY 147 KY $271,050 $347,000 $419,425 $521,250 $43,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
OWENSBORO, KY (MSA) 36980   MCLEAN 149 KY $271,050 $347,000 $419,425 $521,250 $48,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   MEADE 163 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MOUNT STERLING, KY (MICRO) 34460   MENIFEE 165 KY $271,050 $347,000 $419,425 $521,250 $85,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MERCER 167 KY $271,050 $347,000 $419,425 $521,250 $102,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
GLASGOW, KY (MICRO) 23980   METCALFE 169 KY $271,050 $347,000 $419,425 $521,250 $105,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MONROE 171 KY $271,050 $347,000 $419,425 $521,250 $30,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
MOUNT STERLING, KY (MICRO) 34460   MONTGOMERY 173 KY $271,050 $347,000 $419,425 $521,250 $85,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   MORGAN 175 KY $271,050 $347,000 $419,425 $521,250 $71,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CENTRAL CITY, KY (MICRO) 16420   MUHLENBERG 177 KY $271,050 $347,000 $419,425 $521,250 $70,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   NELSON 179 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   NICHOLAS 181 KY $271,050 $347,000 $419,425 $521,250 $37,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   OHIO 183 KY $271,050 $347,000 $419,425 $521,250 $67,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   OLDHAM 185 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   OWEN 187 KY $271,050 $347,000 $419,425 $521,250 $80,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   OWSLEY 189 KY $271,050 $347,000 $419,425 $521,250 $45,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 17140   PENDLETON 191 KY $337,500 $432,050 $522,250 $649,050 $187,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   PERRY 193 KY $271,050 $347,000 $419,425 $521,250 $69,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   PIKE 195 KY $271,050 $347,000 $419,425 $521,250 $40,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   POWELL 197 KY $271,050 $347,000 $419,425 $521,250 $72,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
SOMERSET, KY (MICRO) 43700   PULASKI 199 KY $271,050 $347,000 $419,425 $521,250 $86,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
 The Nov 18, 2011 – Dec 31, 2011 basic standard mortgage limits for FHA insured loans are:
      One-family   Two-family   Three-family   Four-family  
  FHA Forward   $271,050.00   $347,000.00   $419,425.00   $521,250.00  
  HECM   $625,500.00      
  Fannie/Freddie   $417,000.00   $533,850.00   $645,300.00   $801,950.00  

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits
The ceilings for Nov 18, 2011 – Dec 31, 2011 are:
      One-family   Two-family   Three-family   Four-family  
  FHA Forward   $729,750.00   $934,200.00   $1,129,250.00   $1,403,400.00  
  HECM   $625,500.00      
  Fannie/Freddie   $625,500.00   $800,775.00   $967,950.00   $1,202,925.00  

 
      One-family   Two-family   Three-family   Four-family  
  FHA Forward   $1,094,625.00   $1,401,300.00   $1,693,875.00   $2,105,100.00  
  Fannie/Freddie   $938,250.00   $1,201,150.00   $1,451,925.00   $1,804,375.00  

MSA Name MSA Code Division County Name County
Code
State One-Family Two-Family Three-Family Four-Family Median Sale Price Last Revised Limit Year
NON-METRO 99999   ROBERTSON 201 KY $271,050 $347,000 $419,425 $521,250 $77,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
RICHMOND-BEREA, KY (MICRO) 40080   ROCKCASTLE 203 KY $271,050 $347,000 $419,425 $521,250 $133,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   ROWAN 205 KY $271,050 $347,000 $419,425 $521,250 $37,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   RUSSELL 207 KY $271,050 $347,000 $419,425 $521,250 $73,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LEXINGTON-FAYETTE, KY (MSA) 30460   SCOTT 209 KY $271,050 $347,000 $419,425 $521,250 $161,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   SHELBY 211 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   SIMPSON 213 KY $271,050 $347,000 $419,425 $521,250 $89,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   SPENCER 215 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CAMPBELLSVILLE, KY (MICRO) 15820   TAYLOR 217 KY $271,050 $347,000 $419,425 $521,250 $77,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   TODD 219 KY $271,050 $347,000 $419,425 $521,250 $87,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CLARKSVILLE, TN-KY (MSA) 17300   TRIGG 221 KY $271,050 $347,000 $419,425 $521,250 $136,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) 31140   TRIMBLE 223 KY $302,500 $387,250 $468,100 $581,750 $229,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   UNION 225 KY $271,050 $347,000 $419,425 $521,250 $40,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
BOWLING GREEN, KY (MSA) 14540   WARREN 227 KY $271,050 $347,000 $419,425 $521,250 $153,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   WASHINGTON 229 KY $271,050 $347,000 $419,425 $521,250 $103,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   WAYNE 231 KY $271,050 $347,000 $419,425 $521,250 $69,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
EVANSVILLE, IN-KY (MSA) 21780   WEBSTER 233 KY $271,050 $347,000 $419,425 $521,250 $154,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
CORBIN, KY (MICRO) 18340   WHITLEY 235 KY $271,050 $347,000 $419,425 $521,250 $36,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
NON-METRO 99999   WOLFE 237 KY $271,050 $347,000 $419,425 $521,250 $52,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011
LEXINGTON-FAYETTE, KY (MSA) 30460   WOODFORD 239 KY $271,050 $347,000 $419,425 $521,250 $161,000 11/30/2011 Nov 18, 2011 – Dec 31, 2011

 

 

This is a listing of the FHA single family mortgage limits. This listing was downloaded from the Department’s Computerized Home Underwriting Management System. Since mortgage limits are updated constantly, please contact the Homeownership Center if you believe this information is in error.