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Author, health consultant to talk about infectious disease in past and today

Human bones are made of the same elements as the earth, Terry Foody said, and “we can’t deny the fact that they are part of our environment.” 621 more words

Community

The Origins of Kentucky University and The Kentucky A&M …and How They Came to Ashland

Founder and Regent of Kentucky University, John Bryan Bowman (1824-1891) held a lofty vision for higher education in Kentucky and was devoted to the ideal of egalitarian education, proclaiming, “I want to build up a People’s Institution, a great university eventually accessible to the poorest boy in all the land…” 992 more words

Ashland

Gratitude

I’m thankful for my wonderful mom. There is a quote from Abraham Lincoln that says, “Everything I am or ever hope to be, I owe to my angel mother.” 282 more words

Life

USDA Home Loans : 100% Financing And Very Low Mortgage Rates

For home buyers today, there are two mortgage programs which offer 100% financing. The first is the VA loan from the Department of Veterans Affairs. It’s available to most active military personnel and veterans nationwide. 647 more words

Louisville Kentucky Mortgage reblogged this on Kentucky USDA Rural Housing Mortgage Loans and commented:

Kentucky USDA Rural  Home Loans : 100% Financing [caption id="attachment_2009" align="alignleft" width="220"]Kentucky USDA Rural Development Housing Zero Down USDA Home Loans : 100% Financing Kentucky USDA Rural Development Housing Zero Down
Kentucky USDA Mortgage Loans
Kentucky Single Family Housing Guaranteed Loan Program[/caption] The program's full name is the Kentucky USDA Rural Development Guaranteed Housing Loan program. Most people call them "USDA loans" or "Rural Housing Loans." Kentucky USDA loans are insured by the U.S. Department of Agriculture and the program's most popular feature is its option for "no money down" financing. Via the USDA, you can finance 100% of a home's purchase price. It is a common misconception that these loans are only for farm types of properties. In fact, income producing farms are not eligible for the program. 118 of Kentucky's 120 counties contain areas that are eligible for program (The whole area of Jefferson & Fayette Counties currently are ineligible).  Parts of Bullitt County, McCracken, Christian, Boone, Kenton, Campbell Counties are ineligible.   The property cannot be located within the city limits of a municipality with a population level determined by the U.S Census with a limit set by the USDA. A Kentucky USDA loans are similar to other loan types including loans via Fannie Mae and Freddie Mac. Kentucky USDA loans differ in their down payment requirements (none required) and its simpler loan approval standards. Kentucky Rural loans can be used by first-time buyers and repeat home buyers alike. Homeowner counseling is not required to use the Kentucky USDA program. Mortgage insurance premiums are also often more attractive than many alternative financing types. Since October 1, 2012, USDA mortgage insurance rates have been : •For purchases, 2.00% of loan amount upfront fee paid at closing •For refinances, 2.00% of loan amount upfront fee paid at closing •For all loans, 0.40% annual fee, based on the remaining principal balance As a real-life example, then, a homebuyer with a $100,000 loan size in Kentucky would be asked make a $2,000 upfront mortgage insurance premium payment at closing, plus $33.33 in mortgage insurance monthly. The upfront mortgage insurance is not required to be paid as cash and the amount is often added to your loan balance even above the purchase price and appraised value of the home. USDA is one of the only loan types that allows you to also finance in other closing costs and prepaid items above the purchase price up the appraised value if it is greater than the purchase price of the home. Also similar to the FHA, the USDA requires mortgage insurance premiums to be paid until the loan is paid-in-full, or until the home is sold. USDA mortgage insurance rates are lower than those for a comparable FHA mortgages.assess a 1.75% upfront mortgage insurance premium and charge as much as 1.55% in MIP annually. -- [contact-form][contact-field label='Name' type='name' required='1'/][contact-field label='Email' type='email' required='1'/][contact-field label='Website' type='url'/][contact-field label='Comment' type='textarea' required='1'/][/contact-form]

 
Joel Lobb Senior  Loan Officer
(NMLS#57916)
 
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

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