I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 1300 Kentucky families buy their first home or refinance their current mortgage for a lower payment; Kentucky First time buyers we still how available down payment assistance with KHC. Free Mortgage applications/ same day approvals. Web site is not endorsed by the FHA, VA, USDA govt agency. Text/call 502-905-3708 kentuckyloan@gmail.com NMLS 57916 NMLS 1738461
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Self-Employed and Business Commission Income for a...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Self-Employed and Business Commission Income for a...: Self-Employed and Business Commission Income for a Mortgage Loan Approval A borrower is considered self-employed if they own 25.00% or mor...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Part-time earnings may not count when seeking a mo...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Part-time earnings may not count when seeking a mo...: Part-time earnings may not count when seeking a mortgage The two-year rule for counting part-time income has been an industry standa...
Kentucky VA Loans Cash Out Requirements on a VA refinance
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100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Government Shutdown Affect on Mortgage Rates
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Government Shutdown Affect on Mortgage Rates: Powered by Lender411.com -- Joel Lobb (NMLS#57916) Senior Loan Officer 502-905-3708 cell 502-813-2795 fax kentuckyloan@gmail.com Key...
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100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgag...: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Bullitt County Kentucky Fannie Mae Homepath Homes ... : Listing Results Page 1 ...
Kentucky Mortgage Loans for FHA, VA, KHC, USDA, Fannie Mae and Rural Housing
"It has never been a better time to purchase a home through KHC," said Governor Steve Beshear. "With rates this low and down payment and closing costs assistance, Kentuckians who thought they would not be able to own a home now have an opportunity. These low rates will not last; buyers should contact a KHC-approved lender as soon as possible."
Purchasing a home through KHC is easy. Buyers work with a network of KHC-approved lenders and banking institutions that help the buyer throughout the purchasing process. There are also over 1,000 real estate agents who have become KHC-certified and have committed to helping their buyers with affordable home-financing solutions. A list of lenders and real estate agents is available on KHC's Website. Buyers should ask for a KHC loan.
"Kentuckians can feel comfortable purchasing a home through KHC," said Richard L. McQuady, chief executive officer of KHC. "KHC home loans start with us and end with us. When homeowners make a payment or call about their loan, they are talking to a KHC staff person at our office in Frankfort."
Kentucky Housing is able to offer these low rates through an extension of the New Issue Bond Program (NIBP), a federal bond purchase program provided by the U.S. Department of Treasury.
Kentucky Mortgage Loans
These special financing options are designed to lower your interest rate, down payment amount and/or closing costs. Here are a few examples:
- Federal Housing
Association Louisville Kentucky FHA loans - These loans offer the benefit of a
low, 3.5% down payment.
- Veterans Affairs Louisville Kentucky VA Loans - VA loans make 100-percent financing available
to qualified military veterans with at least six months of active duty.
This loan is also available to the unmarried spouses of a deceased veteran
whose death was service related, or spouse of an MIA or POW.
- Kentucky Housing
Corporation (KHC) - KHC loans are great for the first-time home
buyer. They are subject to income guidelines.
Kentucky USDA Rural Housing Guaranteed Loans!
- Competitive Kentucky USDA Mortgage Rates fixed
- Click here for up-to-date rates.
- Low monthly
mortgage insurance
- No down payment
and no cash reserve requirements
- Finance up to
100% of purchase price, plus closing costs if home appraises for greater
than purchase price
- One-time
guarantee fee, can be financed into the loan
- Gift / Grant
funds allowed
- Seller
concessions allowed
- Home must be
located in an eligible rural area.
Eligible property types include existing and new construction single family residences, condominiums, Planned Unit Development's (PUD's), and new manufactured homes built by an approved dealer-contractor. - Household income
must not exceed the adjusted income limit for the area.
- Borrower must be
a US citizen, permanent resident, or qualified alien.
To determine property and income eligibility or visit Rural Development's online eligibility website at: http://eligibility.sc.egov.usda.gov.
Home Affordable Refinance Program (HARP) New Refinance Program for Fannie Mae and Freddie Mac Kentucky homeowners refinance
FHFA Launches National Education Campaign Campaign Aims to Reach Homeowners Eligible for Mortgage Refinance under HARP
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today launched a nationwide campaign to inform homeowners about the Home Affordable Refinance Program (HARP). The campaign is designed to encourage homeowners who have been making their mortgage payments, but who owe more than their home is worth, to contact their current lender or any other mortgage lender offering HARP refinances to review their refinancing options.
“HARP is an absolute no brainer for eligible homeowners. This program allows underwater homeowners the option to refinance at a lower rate and in my book that is a great deal,” said Aubrey. “I spend my time on TV and as a realtor trying to get great deals for my clients. FHFA has already done the legwork to create an amazing deal. It’s as simple as finding out if you qualify, getting the refinance done and watching the savings add up. “
Louisville Kentucky Harp Refinance Mortgage Guidelines
To be eligible for a HARP refinance, homeowners must meet the following criteria:
• The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
• The current loan-to-value (LTV) ratio must be greater than 80 percent.
• The borrower must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.
To find out if a mortgage is owned or guaranteed by Fannie Mae or Freddie Mac, borrowers can
confirm their mortgage by visiting http://knowyouroptions.com/loanlookup or
https://ww3.freddiemac.com/corporate/
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Washington, D.C. – The Federal Housing Finance Agency (FHFA) today launched a nationwide campaign to inform homeowners about the Home Affordable Refinance Program (HARP). The campaign is designed to encourage homeowners who have been making their mortgage payments, but who owe more than their home is worth, to contact their current lender or any other mortgage lender offering HARP refinances to review their refinancing options.
“HARP is an absolute no brainer for eligible homeowners. This program allows underwater homeowners the option to refinance at a lower rate and in my book that is a great deal,” said Aubrey. “I spend my time on TV and as a realtor trying to get great deals for my clients. FHFA has already done the legwork to create an amazing deal. It’s as simple as finding out if you qualify, getting the refinance done and watching the savings add up. “
Louisville Kentucky Harp Refinance Mortgage Guidelines
To be eligible for a HARP refinance, homeowners must meet the following criteria:
• The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
• The current loan-to-value (LTV) ratio must be greater than 80 percent.
• The borrower must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.
To find out if a mortgage is owned or guaranteed by Fannie Mae or Freddie Mac, borrowers can
confirm their mortgage by visiting http://knowyouroptions.com/loanlookup or
https://ww3.freddiemac.com/corporate/
Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
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Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times
Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times
Last month, 30 percent of all successful applicants for home mortgages had FICO credit scores below 700, compared with 15 percent a year ago. That means that even if don’t have stellar scores, you can still be approved if your application shows compensating strengths
--
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Last month, 30 percent of all successful applicants for home mortgages had FICO credit scores below 700, compared with 15 percent a year ago. That means that even if don’t have stellar scores, you can still be approved if your application shows compensating strengths
• Average FICO scores are down across the board. Conventional Fannie Mae-Freddie Mac scores for approved applicants dropped a point from July to August to 758. That’s still high in historical terms but down from 764 last November.
The biggest drops in scores have been on Fannie-Freddie refinancings, where recent interest-rate jumps have scared away applicants. Approved borrowers in August had average scores of 737 compared with 746 in July.
--
Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Housing Development Subsidy Re...
Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Housing Development Subsidy Re...: Kentucky USDA Rural Housing Development Subsidy Recapture Payoffs on Direct USDA Loans Subsidy Recapture Payment subsidies r...
Louisville Kentucky VA Mortgage Requirements for income and debt to income ratios:
Louisville Kentucky VA Mortgage Requirements for income and debt to income ratios:
Kentucky VA lenders use debt ratios to help determine affordability. The VA Underwriting uses a debt ratio of 41% when approving a Kentucky VA home loan application. That simply means if someone makes $4000 per month, before withholdings, VA loans require mortgage payments plus other revolving and installment debt payments be no greater than $6,000 X .41 = $1640 a month.
Sometimes VA lenders will allow for you to have a debt to income ratio over 41%, but that usually entails you have a credit score of 680 or higher, with at least 6 months reserves.
With most Kentucky VA mortgage Lending tied to the automated underwriting thru Desktop Originator, most Kentucky VA home buyers will get a refer if the score is below 680.
If happen to get a refer eligible on your Kentucky VA loan approval thru DU, then you must make sure your debt to income ratio is not over 41%, and you will have to prove a good payment history on your last 12 months of housing history.
Significant Increases or Decreases in Income
Increase: When a borrower has experienced a significant increase in income, the higher income may not be used to qualify the borrower, unless there is sufficient documentation to determine that the increase is stable and likely to continue at the level used for qualifying (e.g. that the income in not a one-time incentive payment).
Decrease: When the borrower has experienced a significant decrease in income, the income cannot be averaged using a previous higher level unless there is documentation of a one-time occurrence (e.g., injury) that prevented the borrower from working or earning full income for a period of time and proof that the borrower is back to the income amount that they previously earned. The underwriter must focus the analysis on the most recent earnings and the income that is most likely to be received at the level used for qualifying.
Residual Income for A Kentucky VA Loan
Residual income is the amount of net income remaining (after deduction of debts and obligations and monthly shelter expenses) to cover family living expenses such as food, health care, clothing and gasoline. See tables below for residual income requirements.
Count all members of the household (without regard to the nature of the relationship) when determining "family size," including:
An applicant's spouse who is not joining in title or on the note, and
Any other individuals who depend on the applicant for support. For example, children from a spouse's prior marriage who are not the applicant's legal dependents.
Reduce the residual income figure (from the following tables) by a minimum of 5 percent if:
The applicant or spouse is an active-duty or retired serviceperson, and
There is a clear indication that he or she will continue to receive the benefits resulting from use of military-based facilities located near the property.
Use 5 percent unless the VA office of jurisdiction has established a higher percentage, in which case, apply the specified percentage for that jurisdiction.
Louisville Ky Mortgage Lender FHA, VA , KHC USDA Kentucky Mortgage
I specialize in Kentucky FHA, VA, USDA, KHC, Jumbo and Fannie Mae mortgage loans in Ky. I have helped over 589 Kentucky families buy their first home and refinance their current mortgage for a lower rate; For the first time buyer with little money, Kentucky Housing/KHC offers(zero-down)loans with downpayment assistance. Free credit/pre-approvals in 1 hour Call me today at 502-905-3708 or email kentuckyloan@gmail.com I compare Kentucky Mortgage Rates daily for your best interest(NMLS# 57916
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Minimum Credit Score Needed to Buy a House in Kent...
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Minimum Credit Score Needed to Buy a House in Kent...: Minimum Credit Score Needed to Buy a House Fannie Mae According to the "Washington Post," Fannie Mae raise...
Louisville Kentucky Home Sales at Six Year High
Louisville Kentucky Home Sales at Six Year High
Read more: http://www.talkradio1080.com/articles/84-whas-local-news-283307/louisville-home-sales-at-six-year-11660569/#ixzz2fC7aKabS
LOUISVILLE, Ky. -- Homes sales in Louisville and the surrounding area, continue to do well.
The Greater Louisville Association of Realtors has released year to date figures showing the number of homes sold, and the average sale prices, are both at six year highs.
Association President Paul Ogden says mortgage rates, although up from six months ago, are still incredibly low. He adds, they are monitoring the Federal Reserve Policy Board meeting this week, to see what that does to the bond market, which affects mortgage rates.
For more information about GLAR, click HERE.
Read more: http://www.talkradio1080.com/articles/84-whas-local-news-283307/louisville-home-sales-at-six-year-11660569/#ixzz2fC7aKabS
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Kentucky FHA Credit and Income Requirements for C...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Kentucky FHA Credit and Income Requirements for C...: Kentucky FHA Credit and Income Requirements for Credit Approval Frequently Asked Questions from 1/26/12 Kentucky FHA Loan Credit Appr...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: FHA Credit Requirements
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: FHA Credit Requirements: FHA Credit Requirements FHA Credit Score Requirements: 530: Minimum credit score required to qualify for an FHA loan and satisfy ...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Debt to Income Ratios for A Kentucky Mortgage Loan...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Debt to Income Ratios for A Kentucky Mortgage Loan...: Debt to Income Ratios Debt to Income Ratios for A Kentucky Mortgage Loan There are two debt-to-income (DTI) ratios on every loan: hous...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Recently HUD/FHA issued three new mortgagee letter...
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Louisville Kentucky VA Home Loan Mortgage Lender: VA Loan Eligibility Certificate of Eligibility (C...: Certificate of Eligibility After establishing that you are eligible , you will need a Certificate of Eligibility (COE). The COE verifies...
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Louisville Kentucky First Time Home Buyer: 100% Financing Zero Down Payment Financing Kentuck...
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Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Louisville Ky Mortgage Lender FHA, VA , KHC USDA K...
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Louisville Ky Mortgage Lender FHA, VA , KHC USDA K...: I specialize in Kentucky FHA, VA, USDA, KHC, Jumbo and Fannie Mae mortgage loans in Ky. I have helped over 589 Kentucky families buy thei...
September 2013 Mortgage Rule & Regulation Updates [MortgageCurrentcy.com]
Louisville Ky Mortgage Lender FHA HUD Kentucky Mortgage: Kentucky FHA HUD Back to Work Program for FHA Borr... http://www.mylouisvillekentuckymortgage.com/2013/09/kentucky-fha-hud-back-to-work-program.html?spref=tw
Prospect Kentucky Oldham County Mortgage Loans 40059: LOUISVILLE KENTUCKY JUMBO MORTGAGE LOANS
Prospect Kentucky Oldham County Mortgage Loans 40059: LOUISVILLE KENTUCKY JUMBO MORTGAGE LOANS: REAL ESTATE 'Jumbo' Mortgage Rates Fall Below Traditional Ones As banks compete for affluent borrowers, an odd trend has emerged ...
KENTUCKY RURAL AND USDA ELIGIBLE RURAL AREA CHANGE REMINDER
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September 3, 2013
KENTUCKY RHS USDA 2010 CENSUS DATA IMPLEMENTATION
KENTUCKY RURAL AND USDA ELIGIBLE RURAL AREA CHANGE REMINDER
Barring any Congressional actions, implementation of the 2010 Census Data is scheduled for October 1, 2013, which will modify the eligible rural areas for the Kentucky RHS housing Loan Mortgage programs. The future eligibility area maps can be viewed on the USDA Eligibility web site at: http://eligibility.sc.egov.usda.gov. THIS MEANS THAT KENTUCKY USDA AND RURAL HOUSING PROPERTIES THAT ARE ELIGIBLE TODAY, MAY NOT BE ELIGIBLE ON AND AFTER OCTOBER 1, 2013.
NOTE: COMPLETE applications (including all information necessary to make a final credit, capacity and collateral decision) must be RECEIVED by Kentucky USDA prior to October 1, 2013, in order for USDA to accept the old eligibility areas. It is imperative that all USDA files be sent to in time for to send the completed file to USDA. Applications received by USDA on and after October 1, 2013, will be subject to the eligible rural area changes. Nothing can be changed once USDA deems the property to be located in an ineligible area.
With the impending change, Plat, we encourage you to submit your Kentucky USDA loans immediately.
Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: 100% FINANCING Louisville Kentucky Mortgage
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: 100% FINANCING Louisville Kentucky Mortgage: 100% FINANCING Posted by Louisville Kentucky Mortgage on March 1, 2011 1 Vote No or Low Down Payment Options 100% FINANCING For true 100...
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