CONVENTIONAL FANNIE MAE KENTUCKY LOANS
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I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 900 Kentucky families buy their first home and refinance their current mortgage for a lower rate; Kentucky First time buyers $0 down still available with 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 ID 1364
Showing posts with label Fannie Mae. Show all posts
Showing posts with label Fannie Mae. Show all posts
Fannie Mae Waiting period for Foreclosures, bankruptcies, and short sales for a new mortgage loan approval
Fill out my form!
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
KENTUCKY FANNIE MAE CONVENTIONAL LOAN MINIMUM BORROWER CONTRIBUTIONS CHANGES
KENTUCKY FANNIE MAE CONVENTIONAL LOAN MINIMUM BORROWER CONTRIBUTIONS CHANGES FOR 2019
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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.
Fill out my form!
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Kentucky Fannie Mae HomePath® program for 2014
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| The Kentucky Fannie Mae HomePath® program offers borrowers the opportunity to purchase a Kentucky Fannie Mae owned property with a low down payment and no appraisal or mortgage insurance. For a list of eligible properties, visit the HomePath website at www.homepath.com.
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The following is a list of documents that may be required to process your mortgage loan:
· One full month’s worth of pay stubs
· Last 2 years W-2′s
· Last 2 years tax returns
· Last two months bank statements for all accounts
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I don't need originals, copies are fine. You can fax, email, or drop off at my office below . I will supply you a copy of your credit report for free along with your pre-approval letter to buy a home.
It usually takes about 24 hours for a pre-approval to come back from underwriting department.
Let me know your questions.
Thanks and look forward to helping you
Joel Lobb
Senior Loan Officer
Senior Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
phone: (502) 905-3708
Fax: (502) 327-9119
Fill out my form!
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Kentucky Fannie Mae Conventional Mortgage Insurance for 2014
Conventional Mortgage Insurance for a Kentucky Mortgage Loan Approval
There are different types of traditional monthly PMI for Fannie Mae Conventional Mortgage Loans in Kentucky. Single Financed MI, and monthly mortgage insurance.
The Major MI companies for most Kentucky Fannie Mae Mortgage loans are underwritten by Radian, MGIC, UG and Genworth.
Most companies will not approve MI on a loan if the DTI exceeds 45%. The max LTV we will finance is 95%. For further underwriting details and MI rate quotes, please contact
Fill out my form for your free Kentucky Mortgage Loan Prequalification today!
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Kentucky Mortgage Loan Approval for USDA, FHA, VA, and Fannie Mae with a previous short sale or foreclosure. How long do you have to wait?
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Fill out my form!
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Kentucky Mortgage Fannie Mae Guidelines for 2013 to include Bankruptcies, Foreclosures, Deeds in Lieu, Preforeclosure Short Sale
Kentucky Mortgage Fannie Mae Guidelines for 2013 to include Bankruptcies, Foreclosures, Deeds in Lieu, Foreclosure Short Sale
Please note mortgage investors guidelines vary and may not all be the same
Please note mortgage investors guidelines vary and may not all be the same
Kentucky Mortgage Conforming loans receiving an acceptable finding through DU follow Conforming guidelines.
To be considered for a mortgage loan, the borrower must have re-established a satisfactory credit history and demonstrated the ability to manage financial affairs prudently. (“Satisfactory" means that the most recent rating has a rating of "1".) The bankruptcy must have reestablished a credit record for an elapsed time of 4 years. Elapsed time is measured by comparing the date of the application fort he new mortgage loan to:
The date a Chapter 7, 11, or 12 bankruptcy was discharged;
The date a Chapter 13 repayment plan was successfully completed and discharged. The elapsed time of 7 years is required for the following:
The date of a foreclosure sale.
Borrowers which have previously incurred a Deed in Lieu of Foreclosure or Preforeclosure Sale (Short Sale) are subject to a tieredgroup of waiting period requirements. If the borrower has re-established a satisfactory credit history within a period below, they willbe subject to a maximum LTV as per the following:
Waiting Period
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Additional Requirements
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Two years
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80% maximum LTV ratios
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Four years
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90% maximum LTV ratios
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Seven years
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Standard maximum LTV ratios
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Note: Additional Requirements can never exceed the standard maximum LTV ratio
If a bankruptcy has been discharged within the past 7 years, the following items are required in the Credit
File to determine the credit's acceptability: Discharge of bankruptcy
Schedule of creditors (secured or unsecured)
Detailed explanation from the borrower
Verification that satisfactory credit has been re-established. Regardless of the reason, if the borrower’s credit history includes a bankruptcy filing or foreclosure-related action, she/he must have re-established credit for at least four years (or as dictated by policy) and established a new payment record that illustrates a willingness and ability to manage his/her finances overtime and if applicable, under different economic conditions. All accounts must be current as of the date of the mortgage application. In addition, the borrower’s credit history must include:
o A minimum of four credit references, with at least one traditional credit reference, and one housing related reference, all of which must have a satisfactory payment history. Three of the four credit references (including anyr ental housing reference) must have been active for a full 24 months before the date of the mortgage application.
o No more than two installment or revolving debt payments 30 days past due in the last
24 months.
o No installment or revolving debt payment 60 days past due since the discharge or
Joel Lobb (NMLS#57916)Senior Loan Officer
502-905-3708 cell*
502-905-3708 cell*
PLEASE NOTE THESE GUIDELINES ARE FOR CONFORMING OR CONVENTIONAL LOANS ONLY. THESE MORTGAGE GUIDELINES DO NOT APPLY TO FHA, VA, KHC, USDA CREDIT GUIDELINES FOR FORECLOSURES, SHORT SALES, BANKRUPTCY
Fill out my form!
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
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