Denied for a Home Loan in Kentucky? 10 Real Reasons Why (FHA, VA, USDA & Fannie Mae)

Buying a home in Kentucky? Don’t let your mortgage application get denied.

In this video, I break down the Top 10 Reasons Mortgage Loans Are Denied in Kentucky — including FHA, VA, USDA, and Fannie Mae programs.

Whether it’s a high debt-to-income ratio, low credit score, or appraisal issues, I’ll walk you through what really causes a loan denial and how you can avoid these pitfalls before you apply.

As a Kentucky Mortgage Loan Officer with over 20 years of experience, I’ve helped more than 1,300 families become homeowners — even when they thought approval was out of reach.

 Watch until the end for pro tips to boost your approval odds and get that “Clear to Close”!

Joel Lobb 

 Email - kentuckyloan@gmail.com 

 Call/Text - 502-905-3708

 www.mylouisvillekentuckymortgage.com
 911 Barret Ave., Louisville, KY 40204

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Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

Kentucky Mortgage Loan Expert For Kentucky FHA, VA, USDA, Fannie Mae and KHC Down payment Assistance Loans

COMPENSATING FACTORS TO OVERTURN A MORTGAGE DENIAL ON A KENTUCKY FHA AND USDA MORTGAGE LOAN:

COMPENSATING FACTORS TO OVERTURN A MORTGAGE DENIAL

Documentation

- Accumulated Savings
• The borrower has demonstrated an ability to accumulate savings, and a conservative attitude toward using credit.
- Compensation or Income Not Reflected in Effective Income
•
- Down Payment
• The borrower makes a large down payment of 10 percent or higher toward the purchase of the property.
- Housing Expense Payments
•
- Minimal Housing Expense Increase
• There is only a minimal increase in the borrower's housing expense.
- Potential for Increased Earnings
• The borrower has a potential for increased earnings, as indicated by job training or education in his/her profession.
- Previous Credit History
• A borrower's previous credit history shows that he/she has the ability to devote a greater portion of income to housing expenses.
- Primary Wage-Earner Relocation
•
- Substantial Cash Reserves
•••
- Substantial Non-Taxable Income
• The borrower has substantial non-taxable income. This applies if no adjustment was previously made when computing ratios.

Joel Lobb (NMLS#57916)
Senior  Loan Officer

502-905-3708 call or text or email kentuckyloan@gmail.com with your questions?

http://mylouisvillekentuckymortgage.com

Compensating factors to overturn a mortgage denial, Mortgage denied, denied mortgage,turn down for mortgage

Mortgage denied: Sometimes, for no good reason

http://money.cnn.com/2011/04/19/real_estate/low_risk_mortgage_denied/index.htm