Kentucky Housing Corporation (KHC) will be closed Friday, July 3, 2020, in honor of Independence Day, and will reopen at 8 a.m. ET Monday, July 6, 2020. There will be no loan purchases or closings for third-party originating (TPO) lenders on this day. Have a safe and enjoyable holiday!
For Secondary Market products, the purchase price will increase to $327,334. For the Homebuyer Tax Credit, the purchase price will increase to $294,600. Most county income limits increased, with a few exceptions.
KHC's program guides on AllRegs will be updated on July 1, 2020.
The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2020-20 on June 29, 2020 extending the effective date of Mortgagee Letter 2020-05 published on March 27, 2020.
The extension of Appraisal guidance in Mortgagee Letter 2020-05 is effective immediately for appraisal inspections completed on or before Monday, August 31, 2020.
The extension of re-verification of employment guidance in Mortgagee Letter 2020-05 is effective immediately for cases closed on or before Monday, August 31, 2020.
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