Kentucky USDA Rural Housing Loans offer borrowers who qualify the opportunity to purchase a home in a designated rural area with no money down and credit scores as low as 620.
- Available to low- and moderate-income borrowers whose adjusted income is equal to or less than 115% of the area median income
- For properties located in a designated rural area as determined by the RHS office.
- Owner-occupied primary single-family non-farm residences, condos and PUDs
- New construction properties are eligible
- Purchase, standard rate/term refinance, streamline refinance or USDA Rural Refinance Pilot Program with no appraisal or LTV calculation
- Up to 100% LTV/CLTV of market appraised value, including all recurring and non-recurring closing costs may be used for purchase transaction.1 If Guarantee Fee is financed, the total note loan amount may exceed 100% of the market appraised value.
- Conforming loan limits apply
- Credit scores as low as 620
- No asset or reserve requirements and gift funds are allowed
The Kentucky Guaranteed Rural Housing Loan Program is offered through the Rural Housing Service (RHS), an agency of the U.S. Department of Agriculture or Rural Development office of Kentucky . It was designed to assist residents outside of metropolitan statistical areas with better access to affordable housing finance options with little or no down payment or out-of-pocket costs.
Senior Loan Officer
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*