Tuesday, January 25, 2011

Louisville Kentucky HomePath Financing (FannieMae)





Home >> Louisville Kentucky HomePath Financing for Fannie Mae Properties



Louisville Kentucky Properties with this logo are eligible for special financing that includes:



•Low down payment and flexible mortgage terms


•Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a secured loan from a nonprofit organization, state or local government, or employer


•No appraisal required


•No mortgage insurance*


•Available for primary residences, second homes, and investment properties


•One loan to fund both your purchase and light renovation


•Low down payment and flexible mortgage terms


•Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a secured loan from a nonprofit organization, state or local government, or employer


•No mortgage insurance*


•Available for primary residences, second homes, and investment properties


•Low down payment and flexible mortgage terms


•Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a secured loan from a nonprofit organization, state or local government, or employer


•No appraisal required


•No mortgage insurance*


•Available for primary residences, second homes, and investment properties



Note: Potential buyers should always use the lender and financing product that best meets the needs of the buyer and property, and should always consider requesting a home inspection of the property. *Ask your lender for cost details for loans with no mortgage insurance.

Louisville Kentucky



I’ve put together a brief outline of the Kentucky Fannie Mae Renovation Program:

- minimum 3% down payment


- no private mortgage insurance


- full “as completed” appraisal required
- seller will pay up to 3.5% closing costs


- 660 minimum credit score required


- covers up to $35,000 in repairs/improvements to the property (contact Dan for eligible repairs)


- 1-4 unit, owner-occupied residences only



1. Apply online –
2. Gather all of the items on the Mortgage Pre-Approval Items Needed Checklist
3. Fax or scan the Items Needed to me at (fax) – 502-813-2795or (scan) – kentuckyloan@gmail.com



ITEMS NEEDED TO PROCESS YOUR LOAN PRE-APPROVAL

- 2009 tax returns

- 2009 W-2′s

- 2010 tax returns

- 2010 w-2′s

- most recent 30 days pay stubs

- most recent 60 days bank statements

- most recent 2 investment account statements (401k, annuity, etc.)

- copy of your driver’s license

- copy of your social security card



Once steps one through three are complete, I look forward to scheduling a Pre-Mortgage Credit Analysis to help you learn a little more about your credit score, as well as to discuss the loan programs available, today’s rates, and the final steps to take in purchasing your new Home!



Please feel free to call me directly or text me if you may have any questions! I can be reached at:



One of Kentucky's #1 Loan Officers 5 years running. Give me a try today 502-905-3708



Joel Lobb



Key Financial Mortgage



107 South Husrtbourne Parkway Louisville Ky 40222



502-905-3708



kentuckyloan@gmail.com