Kentucky USDA, FHA, VA, and Refinance Guidelines for 2013

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Kentucky USDA, FHA, VA, and Refinance Guidelines for 2013

USDA

  The USDA Rural   Development Loan program is one of the last true No Money Down Loanoptions on the market. Backed by the United States Department of Agriculture (USDA), these safe and secure loans offer:

• 100% Financing!
• Flexible Credit Guideline
• Fixed Interest Rates
• No Maximum Loan Amount
• Eligibility: New + Existing Homes

In short, affordability - This is what USDA Loans through the experts at the USDA Loan Agency have to offer.

Refinance Pilot

The program you've been waiting for!  USDA has rolled out their Rural Refinance Pilot for eligible borrowers to refinance their current USDA loan to a lower rate.  This program is now being offered in 34 states.   

• No Appraisal!
• No DTI Requirements
• No Credit Qualification 
• Finance Closing Costs

Click here for more details on this exciting new program!

FHA and VA

These government programs are more liberal in terms of qualifying ratios, credit standards and offer higher loan to value limits than Conventional loans.  Someone who lacks traditional credit can still obtain FHA or VA financing. 

• Use of gifts for down payment and/or closing costs
• Loans may be assumable
• Possible leniency in credit score and debt ratio
• No prepayment penalty