Friday, November 8, 2013

Kentucky First Time Home Buyer Down Payment Assistance thru Kentucky Housing up to $15,000 Dap Available.

Interest Rates

*** $15,000 Neighborhood DAP available from loan fallout ***


**** MRB Special Funding ****

Limited Availability -- Monies Still Available 

Interest Rate:  2.50% without Down Payment Assistance 
                      3.00% with Down Payment Assistance 
  • $35,000 Household Income Limit
  • First time home buyer, unless property located in targeted county
  • Existing or new construction property -- purchase price limit $115,000 
  • Regular and Affordable DAP available
  • FHA, VA or RHS first mortgage programs through MRB Funding
  • 640 credit score
  • Borrower must demonstrate a need for the special funding.  The borrower's housing ratio must be at a minimum of 25%
  • Maximum ratios of 40/45% with AUS approval

Secondary Market Interest Rates -- 45-Day Lock  


Loan Type 

Rate without Down Payment Assistance 

Rate with Down Payment Assistance 
FHA, VA & RHS 
  • 640 credit score
  • AUS approval
  • Purchases & Refinances
4.000% 
 4.500% 
Conventional 
  • 680 credit score
  • No MI required
  • LTV 80.01% -97.00%
  • *DU AUS approval 
  • Purchases
5.125% 
5.375% 

Mortgage Revenue Bond Interest Rates -- 45-Day Lock


Loan Type 

Rate without Down Payment Assistance 

Rate with Down Payment Assistance 
FHA, VA & RHS 
  • 640 credit score
  • AUS approval
  • Purchases 
4.000% 
 4.500 
Conventional 
  • 680 credit score
  • No MI required
  • LTV 80.01% -97.00%
  • *DU AUS approval 
  • Purchases  
5.125% 
5.375% 
 * Run through DU for Approve/Eligible BEFORE reserving with KHC.  Select HFA Preferred Risk Sharing program located on Additional Data Screen.  

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/