FHA Announces COVID-19 Temporary Guidance for Kentucky FHA Mortgage Loans

Kentucky FHA Temporary Guideline Changes:
Rental Income & Self-Employment Income

FHA Announces COVID-19 Temporary Guidance for Kentucky FHA Mortgage Loans

Kentucky FHA Mortgage Lender

Kentucky FHA Temporary Guideline Changes:
Rental Income & Self-Employment Income

FHA Announces COVID-19 Temporary Guidance for Kentucky FHA Mortgage Loans
Due to the ongoing effect of COVID-19, FHA has announced in ML 2020-03, updates to the following temporary guidelines below effective with case number assignments on or after 8/12/2020 -11/30/2020:

Rental Income for Kentucky FHA Mortgage Loans

When qualifying utilizing rental income, for each property generating rental income the following is required:
- Reduce the effective income associated with the calculation of rental income by 25%, or
- Verify 6 months PITI reserves, or
- Verify the borrower has received the previous 2 months rental payments as evidenced by borrower’s bank statements showing the deposit. (This option is applicable only for borrowers with a history of rental income from the property).

Self Employment Income for Kentucky FHA Mortgage loans

Self-employment income must be stable with a reasonable expectation that it will continue. Verification of the existence…

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As a life-long Kentucky resident, I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. You can trust me for your next mortgage loan. I deliver on what I say and I will give you honest, up-front personal attention you deserve for your home loan. I have several advantages over the big- mega banks in town. First, I can shop your loan thru different mortgage companies across the country to seek competitive rate options and programs that don’t fit regular bank guidelines, whereas most banks will offer offer you there one and only deal. I have access to over 15 different mortgage companies to broker your loan thru. You will not get lost in the shuffle like most borrowers do at the mega banks; your just not a number at our company, you are a person and we will treat you like one throughout the entire process. Free pre-approvals within 6 hours and get your loan closed within 15-30 days. Give us a try or let us compare what you have now. Call me or text me locally anywhere in KY at call/text me 502-905-3708; this is my personal cell phone and I carry it on me at all times. Free credit reports and approvals.

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FHA Loans
VA Loans
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With over 20 years of lending experience, I’ve had the privilege of helping more than 1,300 Kentucky families achieve their homeownership goals. Whether you’re a first-time homebuyer or seeking a second opinion, I’m here to offer honest, no-pressure advice—always free of charge.

I am dedicated to:

Attending as many closings as possible
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Making myself accessible every step of the way

I’ve been consistently recognized as a top mortgage loan officer in Kentucky for VA, FHA, USDA, and KHC programs. I take pride in being thorough, transparent, and attentive with each and every client.

Please take a moment to read my reviews below. If you have questions or need guidance, feel free to call or text me directly.

Joel Lobb – Senior Loan Officer
NMLS #57916
📞 (502) 905-3708
📧 kentuckyloan@gmail.com

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FHA Announces COVID-19 Temporary Guidance for Kentucky FHA Mortgage Loans

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