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
Kentucky USDA Rural Housing Loans : Kentucky Rural Housing USDA Income Eligibility gu...
Kentucky USDA Rural Housing Loans : Kentucky Rural Housing USDA Income Eligibility gu...: Today I will like to discuss what income is allowed by USDA Lenders in Kentucky when calculating your income, as well as income that is ...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky Home Buying Programs for FHA, VA, USDA, Rural Housing and Kentu...
Apply for a home loan by clicking the link below:
It's free and takes less than 5 minutes
Or call us at 502-905-3708 for your free application over the phone
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky FHA Home buyers with heavy debt might find it tougher to get a mortgage with FHA in 2019
Homebuyers with heavy debt might find it tougher to get a mortgage:
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Text/call: 502-905-3708
Here’s what’s happening: For several years, FHA has insured loans to buyers who previously would have been considered too risky or marginal at best. Those applicants often carried crushing monthly personal debts — for credit cards, auto loans, student loans and other obligations — totaling more than half of their monthly incomes. Many also had histories of credit problems that lowered their credit scores. Combined with skimpy down payments of 3.5 percent and minimal bank reserves, these borrowers have a high statistical probability of defaulting on their loans.
To prevent big losses to FHA’s insurance fund, the agency recently informed lenders nationwide that from March 18 onward, it would be applying more stringent standards to applications from high-risk home-buyers. In its letter, FHA documented its reasons for the crackdown. According to FHA Commissioner Brian Montgomery, the agency has been seeing disturbing trends in the quality of loans lenders have been delivering to it:
— Nearly one of every four approved home purchasers had a debt-to-income (DTI) ratio exceeding 50 percent, the worst since 2000. In January, 28 percent of buyers were in that category.
— FICO credit scores are tanking. They’ve fallen to the lowest level since 2008 — an industry-low average of 670. In the first quarter of fiscal 2019, more than 28 percent of all new purchase loans had FICOs below 640. In the same quarter, more than 13 percent of new loans had scores under 620 — 19 percent higher than the same period in the previous fiscal year. (FICO scores range from 300 to 850; low scores predict higher risks of nonpayment. Average scores for purchasers at giant mortgage investors Fannie Mae and Freddie Mac average around 750.)
— Borrowers are siphoning equity from their homes at an alarming rate. In fiscal 2018, FHA saw a 60 percent increase in “cash-out” refinancing as a percentage of all refinancings. Cash-outs allow borrowers to convert equity into spendable money.
— Growing numbers of loans have multiple indications of serious future risk of nonpayment — combinations of low credit scores of 640 or less and DTI ratios that exceed 50 percent.
Given these omens, FHA clamped down by amending its automated underwriting system. Lenders must now conduct time-consuming “manual” analysis of every new loan application flagged as high risk. Compared with standard automated underwriting, manual processing is far more intensive and entails higher staffing costs and liabilities for lenders. Many balk at it. Some investors refuse to buy manually underwritten loans. As a result, fewer of them make it through the process.
“Absolutely they’re going to turn a lot of loans down,” said Skeens. Joe Metzler, a loan officer at Mortgages Unlimited in St. Paul, Minnesota, welcomes the stricter standards. “FHA has become the dumping ground for crappy [loan] files with ridiculous DTI allowances and bad scores,” he said. “A lot of it lately has been straight-up subprime. We should not be doing them.”
According to FHA, nearly 83 percent of its home-purchase loans in January went to first-time buyers. Just under 40 percent went to minorities. Those who have the weakest financial profiles — FICO scores under 640 with debt ratios above 50 percent — could be shocked when they go to buy a house this spring. They may have to turn to subprime lenders who charge much higher interest rates, or they may have to simply postpone their purchase until they’re in better financial shape.
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant's eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916http://www.
Joel Lobb
Mortgage Loan Officer
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
fax: 502-327-9119
email: kentuckyloan@gmail.com
email: kentuckyloan@gmail.com
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky USDA Rural Housing Loans : How much money do I have to make to qualify for a ...
Kentucky USDA Rural Housing Loans : How much money do I have to make to qualify for a ...: Kentucky Rural Housing Loans and Debt To Income Calculations (DTI) "How Much House Can I Afford if I use the U...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Mortgage Refinance
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Mortgage Refinance: Kentucky VA Mortgage Refinance Guidelines 100% of the home's value No Income or Asset verification is...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: FHA says as many as 50,000 mortgages will be affec...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: FHA says as many as 50,000 mortgages will be affec...: FHA says as many as 50,000 mortgages will be affected by new lending rules : The move upset a number of lenders who feared that som...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Development Loan Credit Score ...
Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Development Loan Credit Score ...: What kind of Credit Scores Do you need for a USDA Loan in Kentucky? Kentucky USDA Rural Development Loan, I am providing you with a ser...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky Home Buying Programs for FHA, VA, USDA, Rural Housing and Kentu...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: How to qualify for a Kentucky FHA, VA, USDA and Fa...
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Fill out my form!
Fill out my form!
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Different Types of Kentucky Home Loans
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Different Types of Kentucky Home Loans: Different Types of Kentucky Home Loans Conventional Loan • At least 3%-5% down • Closing costs will vary o...
Fill out my form!
Fill out my form!
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: 4 Things Every Borrower Needs to Get Approved for ...
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: 4 Things Every Borrower Needs to Get Approved for ...: There are 4 basic things that a borrower needs to show a lender in order to get approved for a mortgage. Each category has so many what ...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Latest FHA shift to mitigate risks may shut out some homebuyers
Latest FHA shift to mitigate risks may shut out some homebuyers: Last week, the Federal Housing Administration took steps to mitigate risks to its single-family portfolio, announcing updates to its TOTAL Mortgage Scorecard that may flag some loans for manual underwriting. Chatter among members of the lending community suggests a number of originators are unhappy about the changes, fearing that the end result may be that some of their borrowers will be shut out of FHA financing.
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: Latest FHA shift to mitigate risks may shut out so...
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: Latest FHA shift to mitigate risks may shut out so...: Latest FHA shift to mitigate risks may shut out some homebuyers : Last week, the Federal Housing Administration took steps to mitigate...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky First Time Home Buyer Programs for 2019
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Mortgage Guidelines For Approval in 20...
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Mortgage Guidelines For Approval in 20...: Kentucky Mortgage VA Underwriting Changes for 2019 Kentucky VA has just revised Chapter 4 - Credit Underwriting and Chapter 11 -...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: FHA eliminates two unnecessary and outdated lendin...
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: FHA eliminates two unnecessary and outdated lendin...: FHA eliminates two unnecessary and outdated lending roadblocks : The Federal Housing Administration has taken steps to reduce some of...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
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Kentucky USDA Rural Housing Loans : How to Search for Kentucky USDA Properties Using t...: How Kentucky USDA loans work A Kentucky USDA home loan is a mortgage option that allows you to purchase with zero down payment. The ...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA loans skyrocket in popularity for firs...
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA loans skyrocket in popularity for firs...: VA loans skyrocket in popularity for Kentucky first-time homebuyers : Servicemembers are far more likely to opt for a Department of Veterans...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
100% Financing Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: Kentucky First Time Home Buyer Programs For Home M...
100% Financing Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: Kentucky First Time Home Buyer Programs For Home M...: Kentucky First Time Home Buyer Programs For Home Mortgage Loans: 5 Things to Know For First Time Home Buyers in Ken... : Kentucky First Time...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: 5 Things to Know For First Time Home Buyers in Ken...
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: 5 Things to Know For First Time Home Buyers in Ken...: Kentucky First Time Home Buyers Questions Answered Below: 1. Do Mortgage Rates Change Daily? Just like the gas prices ...
Fill out my form!
Fill out my form!
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: 5 Things to Know For First Time Home Buyers in Ken...
Kentucky First Time Home Buyer Programs For Home Mortgage Loans: 5 Things to Know For First Time Home Buyers in Ken...: Kentucky First Time Home Buyers Questions Answered Below: 1. Do Mortgage Rates Change Daily? Just like the gas prices ...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
100% Financing Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: What are closing costs typically in Kentucky for a...
100% Financing Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: What are closing costs typically in Kentucky for a...: What are closing costs typically in Kentucky for a Mortgage Loan? Application fee. This covers the upfront cost of processing and ta...
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
How to get approved for a Kentucky VA Mortgage Loan?
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Kentucky VA Guaranteed Loan Requirements
What Is a VA Guaranteed Loan?
A VA-guaranteed loan can be used to:
• Buy a home as a primary residence (This can be either existing or new construction.)
• Refinance an existing loan
Benefits of a VA Guaranteed Loan
• No down payment, unless:
o It is required by the lender.
• The purchase price is more than the reasonable value of the property
• No mortgage insurance
• Reusable
• One-time VA funding fee (can be included in the loan)
o If you receive VA disability compensation, you are exempt from the VA funding fee.
• Minimum property requirements
o Ensure the property is safe, sanitary and sound
• VA staff assistance if you become delinquent on your loan
• Can be assumed by qualified persons
• Equal opportunity for all qualified Veterans
Updated October 2018 2
Who Is Eligible?
In general, the following people are eligible:
• Veterans who meet service length requirements
• Service members on active duty who have served a minimum period
• Certain Reservists and National Guard members
• Certain surviving spouses of deceased Veterans
Apply at www.ebenefits.va.gov to determine your eligibility or call 877-827-3702 for more information.
Key Underwriting Criteria
• There is no maximum debt ratio. However, the lender must provide compensating factors if the total debt ratio is more than 41 percent.
• There is no maximum loan amount. However, VA does limit its guaranty. Veterans can borrow up to $484,350 without a down payment in most of the country. You can find out the limit in any county at www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp.
• VA’s residual income guidelines ensure Veteran borrowers can afford the loan. These guidelines establish how much money a Veteran must have left over after all debts and living expenses are considered.
• There is no minimum credit score requirement. Instead, VA requires a lender to review the entire loan profile.
For more information, see the complete VA credit guidelines at
www.benefits.va.gov/warms/pam26_7.asp.
How Can You Start the Process?
VA provides policy, guidelines and oversight of the program. Lenders provide financing for eligible Veterans. The guaranty allows Veterans to obtain a loan without a down payment or mortgage insurance premiums. Veterans need to obtain a Certificate of Eligibility (COE) to prove entitlement. You can obtain the COE online through eBenefits
Updated October 2018 3 at www.ebenefits.va.gov.
Lenders also have the ability to request the COE on your behalf.
You should talk to several lenders to find the one that fits your needs. They should know the VA loan program. They should also offer competitive rates and terms.
Note: The VA appraisal is not intended to be an “inspection” of the property.
Before committing to a purchase agreement, you should get expert advice. Talk to a qualified residential inspection service. You should also have radon testing performed.
Can VA Help If You’re Having Trouble Making Payments?
VA loan technicians may be able to help you retain your home and avoid foreclosure. Call 877-827-3702 to speak to a VA loan technician. For more information, visit www.benefits.va.gov/homeloans/resources_payments.asp.
The Department of Veteran Affairs does not set a minimum credit requirement for a VA home loan. However, there may be credit requirements established by the lender who funds it.
As a benefit of military service, a VA home loan helps U.S. veterans and their spouses become homeowners without having to make a down payment and regardless of having less than fair credit scores. Lenders all over the country offer these loans, which the United States Department of Veterans Affairs (VA) insures. Aside from having no obligation to make a down payment, there are other significant benefits of a VA mortgage:
No Minimum Credit Score Required
Each VA home loan gets insured by the VA, and they do not need veterans to have any particular credit score. However, the loans offered by private lenders may have the requirement for a minimum score, which usually ranges from 580 to 620. Veterans need to be eligible for a credit. That is determined when lenders analyze their credit profile. Typically, lenders pull reports from the three primary agencies for credit-reporting: TransUnion, Experian, and Equifax. For qualification, the median or middle rating gets used as your credit score.
Since the VA is not funding the loan, it is the lender who sets a specific benchmark for the credit score. Not all vendors use the same parameter, but reports indicate the average credit score requirement is a FICO score of 620.
Credit scores aren’t the only things checked within the qualifying credit profile. Also, your past patterns with credit get used in the establishment of your repay willingness. If for at least 12 months, a veteran has made payments on time, he or she shows a readiness to repay any credit obligations to come.
Contrarily, a borrowing veteran who has a history of making payments late, delinquent accounts, or judgments, lenders may not consider him or her a satisfactory applicant to receive a loan.
Good Credit Means Better Mortgage Rates Today
While having a low credit score does not completely disqualify you from getting a VA home loan, but having a higher score is helpful. You can get better loan terms and better mortgage rates today than you would with less than fair credit. It is at the discretion of the lender to decide the percentage offered to each borrower. In general, those individuals with the excellent credit get offered the best rates. However, many homeowners and homebuyers are taking advantage of the current mortgage rates trend which shows the rates retreating.
Other Factors Affecting Approval of VA Loans
There are other financial considerations lenders make to help them determine if you can repay a VA home loan. They consider various factors, such as current income and employment record. Additionally, there are veteran requirements that need to be met, like the character of service, duty status, and length of service. Having a VA Certificate of Eligibility (COE) is an essential component of your loan application. To qualify for a VA loan, you must meet at least one of these conditions:
- You are the spouse of a service member who is no longer alive because of a service-related disability or died while in active duty.
- During wartime, you have served in active service for 90 consecutive days.
- You have over six years of Reserves or National Guard service.
- During peacetime, you have served in active service for 181 days.
There are six items which could negatively affect your ability to obtain a VA loan and impact your credit profile:
Foreclosure
If a borrower’s past residence or real property got foreclosed on or you were given a deed-in-lieu of foreclosure in the last two years after the date of disposition, a person would generally not be eligible to receive a VA loan. FHA loan defaults can lead to waiting of three years for a VA loan. If it was a VA loan foreclosure, full entitlement for a new mortgage might not be available.
Late Payments on Mortgage
In cases unrelated to bankruptcy, a Veteran or spouse and Veteran can have reestablishment to satisfactory credit if for 12 months after the derogatory credit item there were adequate payments made. Having more than one 30-day late payments may be acceptable by some lenders. The policies regarding late payments are different for each vendor. If the court has made a judgment on account balances, it is subject to a plan with timely repayments or it must be paid in its entirety. Judgment policies can vary from lender to lender
Federal Debts and CollectionsDerogatory and collection debt may be allowable within a threshold of which the caps would vary by other factors but primarily the lender. There needs to be a history of timely repayments on a plan for federal debt delinquency or default. It is possible for lenders to put a halt to a VA loan until the borrower is no longer in CAIVRS, which is the federal debt database.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy
According to VA guidelines, at least two years must pass by after the date of discharge for the borrower or spouse’s Chapter Seven bankruptcy. It is not the date it got filed. The borrower would need to provide a detailed explanation of the bankruptcy. Also, he or she must have a stable income, be eligible for the loan financially and have re-established decent credit.
According to VA guidelines, at least two years must pass by after the date of discharge for the borrower or spouse’s Chapter Seven bankruptcy. It is not the date it got filed. The borrower would need to provide a detailed explanation of the bankruptcy. Also, he or she must have a stable income, be eligible for the loan financially and have re-established decent credit.
Chapter 13 Bankruptcy
Under the VA guidelines, a borrower is still paying on a Chapter 13 bankruptcy if it’s verifiable that satisfactory payments got made to the court for one year. To proceed, the court trustee must provide written approval to do so. There needs to be a complete explanation of the bankruptcy, and the borrower must have secure employment, re-established good credit, and financially qualify.
No Credit to Report
Lenders do not find a lack of established credit history favorable. If a borrower has only one credit score, it must meet the lender’s in-house benchmark for some to see it as permissible. Without a credit score, borrowers will have to spend a lot of time building a credit profile before getting the ability to secure a VA home loan. Consideration of a borrower’s non-traditional credit tradelines may have guidelines that vary by lender.
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant's eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916http://www.
Read more: https://usa.inquirer.net/19880/do-va-home-loans-require-a-minimum-credit-score#ixzz5gvZnc8MI
Why Work With Me?
Local Expertise: I know the ins and outs of Kentucky’s housing market and loan programs.
Fast Approvals: I offer free mortgage applications with same-day approvals to keep the process moving quickly.
Customized Loan Solutions: Whether you’re buying a home or refinancing, I’ll find the right loan program to fit your needs.
Personalized Service: I treat every client like family, ensuring you’re supported and informed throughout the process.
About My Website
Visit my website for a wealth of resources tailored to Kentucky homebuyers. You’ll find:
Step-by-step guides for first-time homebuyers.
Information on loan programs like FHA, VA, USDA, and KHC.
Tools to help you calculate potential payments and affordability.
Blog posts with tips and updates on the Kentucky housing market.
A secure portal to start your loan application and upload documents.
Please Note: My website is not endorsed by the FHA, VA, USDA, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools.
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