Monday, September 30, 2013

Kentucky VA Loans Cash Out Requirements on a VA refinance




Effective for new Kentucky VA loans  on or after Monday, September 30th 2013
Kentucky VA Mortgage Loan Full Documentation Cash-Out:

  • Primary Residence Only
  • Maximum 100% LTV (plus funding fee). Includes debt consolidation and cash in hand
  • Maximum 100% LTV (plus funding fee) permitted when solely used to pay off existing liens on subject property - not to exceed $500 cash-back to borrower at closing
  • A 580 minimum credit score is required for all Cash-Out transactions exceeding 90% LTV (plus funding fee)


The 2019 Basic Allowance for Housing (BAH) rate increase is currently proposed at 2.9% according to the Department of Defense’s FY2019 Defense Budget. The January 1, 2018, and January 1, 2019, average BAH inflation rate assumptions are respectively, 1.7 percent and 2.9 percent on average, reflecting the Department’s move to slow the growth of pay and benefits.
The 2019 BAH increase will be effective on January 1, 2019, and service members would see their first increase in their January 15th, 2019 pay. The actual BAH increase will always vary by area.



For  Information:Visit our Website at www.kentuckyvaloan.com