Kentucky Mortgage Lender

Thinking about buying or refinancing a home in Kentucky and wondering what credit score you need? Your credit score is one of the key factors lenders look at when deciding whether to approve your mortgage and what interest rate to offer. As a Kentucky mortgage loan officer who has helped over 1,300 families across the state, I work every day with first-time homebuyers, repeat buyers and homeowners looking to refinance using programs like FHA, VA, USDA Rural Housing, Conventional (Fannie Mae) and Kentucky Housing Corporation (KHC) down payment assistance. This guide breaks down typical credit score benchmarks for Kentucky mortgage approvals and explains what you can do if your scores are not quite where you want them yet. Why Your Credit Score Matters for a Kentucky Mortgage When you apply for a mortgage in Kentucky, the lender pulls your credit from the three major bureaus and uses your middle score (or the lower middle score if there is more than one borrower). You...

Did you know over 50% of our Kentucky  FHA loans are manual underwrites?   Kentucky FHA will consider the borrower’s entire story, including extenuating circumstances and compensating factors, to justify loan approvals. If your borrower falls under any of these conditions, they may benefit from manual underwriting: Non-traditional credit / lack of credit True extenuating circumstances affecting credit or income history Lack of seasoning on a Chapter 13 Disputed accounts over $1,000 Frequent job changes in the last 12 months If you think your borrower could benefit from  manual underwriting call us to learn more about manual underwriting or submit your scenario today. Lowest Minimum Decision Credit Score  Maximum Qualifying Ratios (%)  Acceptable Compensating Factors All manual underwritten loans require a VOR. If the borrower does not pay rent a letter of explanation from borrower stating where living rent free. 31/43 • No compensating factors required. • Energy...

Joel Lobb Mortgage Loan Officer Individual NMLS ID #57916 American Mortgage Solutions, Inc. 10602 Timberwood Circle  Louisville, KY 40223 Company NMLS ID #1364 click here for directions to our office Text/call:      502-905-3708 fax:            502-327-9119 email:            kentuckyloan@gmail.com https://www.mylouisvillekentuckymortgage.com/