Kentucky FHA loans have new guidelines for collections, judgement, and disputed accounts on credit report
HA has published the following guideline updates, which will be effective for all loans with case numbers assigned on or after September 9th
- Specific verbiage for Well Water Testing has been added indicating that it must be performed by a disinterested party in a method acceptable to the local health authority. The borrower or any other interested party may not have contact with the sample. Additionally, cases mandating a Well Water Test have been added to include (but not limited to) the following
- Newly constructed properties and/or wells
- Properties with deficiencies in the well or well water as determined by an appraiser
- Areas where water has been reported or is otherwise known to be unsafe
- Properties located in close proximity to dumps, landfills, industrial sites, farms, or other sites that could contain hazardous waste
- Properties where distance between well and septic systems is less than 100 feet
- Clarification issued indicating…
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Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 