Kentucky Rural Housing USDA Credit and Income Guidelines for 2018

Kentucky Rural Housing USDA Credit and Income Guidelines for 2018

• No Down Payment required, 100% financing available
• 30 year fixed rate only no other terms allowed.
• Not limited to First Time Home buyers! Also available for the move up home buyer.
• More affordable than FHA when compared to mortgage insurance
• Seller concession fees at 6%
• No Bankruptcies last 3 years or foreclosures last 3 years
• Typical max income household income limits are centered on how many people are going to live in the home and which county you are going to buy a home in. Most Counties in Kentucky are maxed at $80k for a household of four or less, and up to $103k for a household of five or more.
• Debt to income ratios are usually centered around 45% on the backend ratio, meaning the new house payment plus the monthly bills…