Kentucky HUD Homes for Sale with the FHA $100 Down Program

HUD HOMES SALES INCENTIVES

For a limited time, FHA offers sales incentives on HUD homes that will make these homes more affordable for home buyers when purchasing a property using FHA-insured financing. The incentives VARY from State to State but may include: low down payments; sales allowances that can be used to pay closing costs, make repairs, or pay down the mortgage amount; broker bonuses for owner-occupant sales. The benefits of FHA financing are low down payments; competitive interest rates; flexible credit qualifying. To find a HUD-Approved Lender, and for the latest sales incentives in your areas, visit HUDhomestore.com. The program incentives are subject to change without prior notice.

Sales Incentives

(subject to change without prior notice)

Participating States

$100 Down Payment! Available to Owner Occupant Homebuyers when purchasing a property using FHA-insured financing.

Illinois, Indiana, Kentucky, Tennessee, S. Carolina,N. Carolina, Georgia, Mississippi, Alabama, Florida, Puerto Rico, Virgin Islands

 

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Kentucky FHA Streamline Refinance

Our Kentucky FHA lenders can help you buy a home with no money down or refinance to the lowest rates possible!

via Kentucky FHA Streamline Refinance.

Kentucky FHA Streamline Refinance

Welcome to the Kentucky FHA Streamline Refinance program! Our KY FHA lenders can help you save money each month on your FHA mortgage.  Want to take advantage of the current low rates?  No problem!  We service all areas of The Bluegrass State and we’re here to help!

This FHA Streamline Refi process is so simple that it’s been called “Streamline” because it allows you to refinance the interest rate on your current home mortgage rather quickly. Appraisals are usually not required and there is also less paperwork involved – saving both you and the lender time and money!

***Starting June 11, 2012 if you currently have an FHA loan you may qualify for a refinance that will reduce your upfront mortgage premium to only .01 percent and your annual premium of .55 percent!***

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell

Louisville Ky  homeowners looking to for a  FHA refinancing offers benefits for current real estate home owners who are seeking to complete a refinance mortgage of their existing real estate mortgage (s). 


Some advantages of using a Louisville KY FHA mortgage for your mortgage refinance are as follows:

  • Cash-Out up to 85% of your properties value.
  • Consolidate first and second mortgages into single loan.
  • Bill consolidation programs.
  • Easier credit and income qualifications.
  • FHA  regulated closing costs.
  • Rate and Term Mortgage Refinancing up to 96.5% of your homes value.
  • Consolidate first and second mortgages* into a single loan.
  • min. 640 credit score.
  • Competitive rates for borrowers with a Bankruptcy older than two years.
  • Competitive rates for borrowers with a Foreclosure older than three years.
  • Easier credit and income qualifications.
  • FHA regulated closing costs.
  • No Cost Interest Rate Reductions programs.
  • No Income or Credit Qualifications*.
  • Zero cost refinance options available.
  • Easily switch amortization for adjustable to fixed or vice versa.
  • Easily shorten or lengthen term of your existing loan.
  • Easier credit and income qualifications.

What Are the New Changes That Make FHA Streamline Loans Even Better?

These home loans have been available for years. Unfortunately, recent increases to mortgage insurance (MI) premiums often wiped out the savings for those refinancing.

At least until now…

New changes to the FHA Streamline program apply to those whose FHA-insured home loans were endorsed on or before May 31st, 2009.

In an effort to assist more Kentucky homeowners with FHA mortgages to refinance at today’s incredibly interest rates FHA mortgage insurance rates were reduced, effective June 11th, 2012.

This new change alone means thousands of dollars in savings for most borrowers.

According to the FHA, based upon a $200,000 30 year mortgage with a loan-to-value higher than 95%, those who took out loans on or before May 31st, 2009, will now realize the following savings:

Before June 11th, 2012

After June 11th, 2012

Mortgage Premium at Closing

$3,500

$20

Monthly MI Premium

$208.33

$91.67

Upfront MI Premium Percentage

1.75%

0.01%

Annual MI Premium Percentage

1.25%

0.55%

 



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Government shutdown hits mortgage market – wave3.com-Louisville News, Weather & Sports

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Title Insurance Information

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Louisville Kentucky FHA Loan Streamline Refinance

FHA Loan Streamline Refinance Program Is Helping USA Homeowners to Refinance Mortgage with Lower Mortgage Payments (via SBWire)

Market And The Mortgage Rate Prevalent In The Market Tend To Change Constantly. Today, Due To The Drastic Drop In The Housing, Millions Of People Are Suffering From Declined Worth Of Their Homes. In Order To Allow Them To Refinance Their Mortgage, FHA…

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