KENTUCKY FHA MORTGAGE GUIDELINES FOR 2020

FHA – 620+ Min Fico Approve Eligible / NO OVERLAYS-NONE!
FHA – 620+ FICO for PURCH, RT, C/O including Flips & High Balance
FHA – 640+ REFERS OK!—no overlays -u/w directly to 4000.1
FHA – 640+ MANUALS up to 50% DTI (with 2 comp factors)
FHA – 620+ No DTI CAP – Follow AUS Findings!!! (with approved eligible)
FHA – 620+ NO Minimum Credit History or Trades with AUS Approval!
FHA – 620+ – No VOR Unless Required by DU Findings!
FHA – Transfer appraisals from ANY lender/AMC OK!
FHA – ORDER YOUR APPRAISAL FROM 20+ AMCs YOU CHOOSE!
FHA – Collections – HUD Guides Apply –
FHA – Mortgage Lates OK if AUS Approved!!!
FHA – ESCROW STATE – Non Purchasing Spouse derogs ignored – only affects DTI
FHA – Borrower w/ Work Permits, Non-Resident Alien OK!
FHA – 1 Day off Market for Cashout Refi! – Must be off market before date of loan application!
FHA – Rental Income on 2-4 units ok FTHB
FHA – STREAMLINE – 620 Minimum
FHA – Streamline – 620 Score – No Appraisal, No Income, No AVM, No Credit Qualifying!!!
FHA – Streamline -Investment and 2nd Homes OK!
FHA – Streamline – Mtg only on subject property only!