Home Buying in 40047>Question Details

Home Buyer, Home Buyer in Mount Washington, KY

Do you have/ know of any lease option homes in Mt. Washington, ky ?

Asked by Home Buyer, Mount Washington, KY Thu Apr 16, 2009

Help the community by answering this question:


I am aware of a couple of homes that are advertised For Sale or Rent.
1 vote Thank Flag Link Tue Jul 31, 2012
USDA may be willing to give a borrower an exception to a past bankruptcy or foreclosure prior to the three year period provided the borrower can document the cause of the past negative credit experience as being related to an illness or job loss and unlikely to reoccur.
Once the credit score exceeds 640, USDA allows this score to be considered as justification for allowing the borrowers debt-to-income-ratio to exceed the target ratios of 29% for the housing costs and 41% for the total debt ratio. Frequently USDA will approve loans where the housing ratios are in the high 30% range and total debt ratios are in the high 40% range.
Bottom line the Kentucky USDA Rural Development Loan Program is more flexible in approving a perspective borrower than any other loan program. But like any loan program today, theLoan Officer shouldn’t assume that this level of credit flexibility will result in an automatic positive underwriting decision if the Underwriter doesn’t feel strongly that the borrowers chance of success at homeownership is strong.
0 votes Thank Flag Link Thu May 9, 2013
There aren't any advertised in the MLS at this time. There are landlords that own multiple properties that might consider it. And, you can always ask a seller if they would consider it. How much do you have down and what price range are you looking for?
0 votes Thank Flag Link Thu May 12, 2011
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