In This Issue

Like us on Facebook  Follow us on Twitter  View our videos on YouTube

KHC Offices Closed for Independence Day   

Kentucky Housing Corporation (KHC) offices will be closed on Friday, July 3, 2015, in honor of Independence Day. KHC offices will re-open on Monday, July 6, 2015, at 8 a.m. ET. Please have a safe and happy holiday.

Third Party Originator (TPO) Closings 

Due to KHC offices being closed for Independence Day, closings scheduled for Monday, July 6, must be sent to KHC by 10 a.m. ET, Wednesday, July 1, 2015. No closings will be scheduled for Friday, July 3, 2015.

SOAR Special Funding Program  

KHC has $6 million in 1 percent special financing to provide housing to low- to moderate-income home  buyers in the SOAR region. This is a first-come, first-served program. 


A downloadable SOAR flier is available on KHC's website, under Lenders, Marketing Tools.   

MRB Special Funding Program - 2.00 Percent Funds   

KHC has $3.5 million in special funding available at 2.00 percent fixed interest rate for 30 years. This special funding program is available on a first-come, first-served basis, starting with new reservations on Wednesday, July 8, 2015.

Who can qualify for this deal?
  • Households that do not exceed $35,000 gross annual income, and meet ONE of the following:
    • At least one home buyer is 62 years old or older.
    • At least one member is disabled and is receiving disability income.
    • A single- or two-parent household with at least one dependent child under the age of 18 living in the home.

Special Funding qualifications included:
  • Must be a first-time home buyer, unless property in a targeted county.
  • Regular and Affordable DAP available.
  • Existing and new construction (purchase price limit of $115,000).
  • 640 minimum credit score.
  • FHA, VA, and RHS first mortgage options.
A downloadable MRB Special Funding Program flier  is available on KHC's website, under Lenders, Marketing Tools. Make someone happy today by telling them, even with lower income, their dream of homeownership can be a reality.

Tips for Successful Electronic Uploads  

KHC's paperless system is now up and going! Keep in mind that if the file began as a true paper file, then it will finish as a paper file. If a paper file has not been sent in for underwriting, Correspondent and TPO lenders may begin submitting their files electronically. Follow these helpful tips for a successful electronic delivery:

  • Once a lender uploads the initial electronic underwriting bundle, but inadvertently forgets an item, please send that item to underwriting at [email protected].
  • Only upload one bundle. Do not upload individual documents!
  • The MCC Only-Closed Loan File task is only for a MCC (non-KHC first mortgage) closed loan file.
  • Select appropriate task, i.e., Underwriting File, Appraisal, Pend Conditions, MCC Only-Closed Loan File, Closed Loan File, or Security Documents.
  • All electronic uploads received after 3 p.m. ET will be logged in the following business day.
  • Delegated lenders will upload the closed loan bundle, which includes the credit package and the security documents bundle. The final appraisal will be uploaded separately to the appraisal bundle.
  • TPO Lenders will need to submit the pre-closing items through the Schedule Closing tab without including them within the electronic upload of the underwriting bundle.
  • Lenders must continue to send any additional items required by KHC on true paper files to [email protected] and [email protected].

 

If you have any questions, please contact Single-Family Programs toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 291; TTY 711. The electronic checklists of required documents and a Electronic Document Upload and PowerPoint are located on KHC's website, under Lender, Lender Resources, Training. 

DO NOT REPLY-This is an unmonitored email address.

 

Kentucky Housing Corporation prohibits discrimination on the basis of race; color; religion; sex; national origin; sexual orientation or gender identity; ancestry; age; disability; or marital, familial, or veteran status. 

 

To change your eGram preferences or to sign up for an eGram list, please visit KHC's website and click on the eGram icon under Quick Links.    

 

If you have subscription problems, please contact KHC's Nicole Morris toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 459; TTY 711; or email [email protected].