Kentucky Guaranteed Rural Housing Program 2012

Kentucky Guaranteed Rural Housing Program 2012


Overview of the Guaranteed Rural Housing for Kentucky Home Buyers 

Kentucky Loan Program
 100% financing. No down payment required. The GRH fee may be included in the loan
amount in excess of the RMV for up to 102% financing.
 Guarantee fee is 2.0 of loan amount.

 Single family homes, townhouses and approved condos in eligible rural areas.

 Repayment Ratios: PITI = 29% & total debt ratio = 41%. Ratio waivers are available with
compensating factors.


 Closing costs can be included in the loan (points cannot be included unless applicant is
low income). If sale price is less than appraised value borrower can include closing
costs up to appraisal amount.

 No limit on seller contributions.

  Not limited to First Time Home Buyers. Typically cannot own another home.


Fixed Interest Rates ‐ Rate may not exceed the FNMA 90 day yield rate plus 60 basis
points rounded up to the next full quarter percentage. See Fannie Mae website:

 30 year term fixed rates only. No 15 year or 20 year terms loans

 No loan amount limit.

 Refinancing Rural Development direct and guaranteed loans is allowed under certain
conditions. Guarantee fee is 1.5% for refinancing.


4 thoughts on “Kentucky Guaranteed Rural Housing Program 2012

  1. Pingback: Kentucky Ineligible Rural Housing Areas October 2012 | Kentucky USDA RHS Rural Housing Mortgage Loans

  2. Pingback: Kentucky Single Family Housing Guaranteed Loan Program | Kentucky USDA RHS Rural Housing Mortgage Loans

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