Kentucky Mortgage Lender

A Kentucky Veteran Can Have Multiple VA Loans: In the most basic of terms, VA Second-Tier Entitlement gives a qualified military person the ability to have two KY VA mortgages out simultaneously. VA will allow a Kentucky Veteran to have multiple Kentucky  VA loans provided they meet the required GNMA 25 percent guaranty. Are you unsure of how to calculate the maximum loan amount for a Veteran based on their used entitlement? I am Kentucky Veteran myself and have done over 50 VA loans for past customers in Kentucky. I am here to help with your Kentucky VA mortgage questions! Click here and download an interactive, Kentucky Mortgage VA Entitlement and Loan Amount worksheet  to help you determine their Kentucky VA Home loan maximum loan amount. This worksheet also works great to determine the maximum loan amount for a Veteran when they are buying a home over their county loan limit. First let’s explain the difference between entitlement and maximum loan amount. E...

Louisville Kentucky VA Home Loan Mortgage Lender: Understanding Your Kentucky VA Home Loan Benefits Kentucky VA Home Loan Mortgage Lender: 👇👇👇👇👇👇👇 Is your credit score high enough for a  Kentucky VA Home Loan Approval? Usually, 620 or Higher is better for 2 reasons lower rate and less stipulations from the underwriter Do you have sufficient credit depth for a Kentucky VA Home Loan Approval? Generally, all on-time payments in the last 12 months. They like to see two-three paid on time  for the last 12 months Do you make enough money to cover all your debts, including the new Kentucky VA mortgage? Debts divided by your gross monthly income is lower than 50%. I have seen many exceptions to this with compensating factors. I have seen as high as 78% debt ratio get approved through the AUS if you have high credit scores (720 or higher, good residual income, a lot of assets, ie money in the bank, retirement, etc. -Do you have a high probability o...

Louisville Kentucky VA Home Loan Mortgage Lender: How to Get Approved for a Kentucky VA Home Mortgag... : Basic Understanding of a Kentucky VA Mortgage Loan Approval Process. The VA makes a guarantee to the lending institution (the insurance)-for... Basic Understanding of a Kentucky VA Mortgage Loan Approval Process. The VA makes a guarantee to the lending institution (the insurance)-for 25% of the loan amount (from a lenders perspective the effective LTV is 75%). Because the risk to the bank is reduced, the bank can provide more affordable loans to the Veteran: • Eliminating the need for a down payment (100% Mortgage) • Provides the Veterans favorable interest rates • Eliminating Mortgage Insurance (NO PMI) Crushing the Myths of the VA Loan • VA Mortgage Benefits do not expire. • You can use your VA benefits as many times as you wish. • You can have more than 1 at a time. (See occupancy rules) • There is no limit to the size of a VA loan. (There is a county loan limit, but veterans ca...

Louisville Kentucky VA Home Loan Mortgage Lender: Tips on getting a Kentucky VA Mortgage Guidelines ... : Getting  your Louisville  Kentucky VA  Loan  Approval Run a 25-year loan if you are not getting an approval with a 30-year. Even with higher... Run a 25-year loan if you are not getting an approval with a 30-year. Even with higher ratios, 25-year loans are considered lower risk and can be key to getting an Approve Eligible • You can do a VA IRRRL on a property that the veteran no longer lives in • Payoff debts at closing with seller concessions. When writing the offer, this information goes in the “under additional provisions or other terms” section • No seasoning requirement for being added to the title (No flip rule) • Only type of loan where an SAR Underwriter can adjust the value after a secondary review in Tidewater with a request from the borrower. That gives us two chances to increase the value if it comes in under. • You can have more than one at the same...