KENTUCKY VA MORTGAGE QUALIFYING GUIDELINES

Kentucky VA Mortgage Qualifying Guidelines

Updated for 2025–2026. If you are a veteran, active-duty service member, or eligible surviving spouse looking to buy or refinance a home in Kentucky, the VA home loan program remains one of the most powerful mortgage options available.

This guide explains how Kentucky VA mortgage qualifying really works today, including credit scores, income, debt-to-income (DTI) ratios, residual income, loan limits and entitlement, plus real-world lender overlays that impact approvals in Kentucky.

My role as a local Kentucky mortgage broker is to translate the VA rules and lender overlays into a clear plan so you can see what it takes to qualify, where you stand now, and what steps to take next.

Why Kentucky VA Loans Are So Powerful

• Zero down payment in most cases when entitlement and income qualify.
• No monthly mortgage insurance (PMI), which can mean a much lower payment than FHA or low-down conventional loans.
• Flexible credit guidelines compared to many other loan types.
• Competitive interest rates.
• Reusable benefit – you can use your VA eligibility again, subject to entitlement rules.
• Assumable loans – in some situations a qualified buyer can assume your existing VA mortgage.

If you already know you want to explore Kentucky VA loans, you can review more details here: Kentucky VA Mortgage Loan Information.

Step 1: Basic VA Eligibility and COE

Before we look at credit and income, we confirm that you meet VA eligibility requirements and can obtain a Certificate of Eligibility (COE). Eligibility is based on your service history, discharge status, and other factors defined by the U.S. Department of Veterans Affairs.

Common groups who may qualify include:

• Veterans with sufficient active-duty service.
• Currently serving active-duty service members.
• Certain members of the National Guard and Reserves.
• Eligible surviving spouses of veterans who died in service or from service-connected causes.

If you are not sure whether you qualify, I can help pull your COE electronically and review your eligibility as part of a free pre-approval.

Step 2: Credit Scores and Lender Overlays in Kentucky

One of the most confusing parts of VA qualifying is credit scores, because what you see on the internet does not always match how lenders actually approve files.

What VA Itself Says

The VA Lenders Handbook states that VA does not have a minimum credit score requirement. VA focuses on the overall strength of the credit profile, payment history, and ability to repay.

What Lenders in Kentucky Usually Want

• Most lenders want to see at least the low-600s for a smooth automated approval.
• Some lenders may consider scores below 620 with stronger compensating factors (residual income, savings, strong payment history).
• Manual underwrites usually require a more conservative profile even when the score is acceptable.

A borderline credit score does not automatically kill a VA loan, but it does change how tight we need to be on your DTI, residual income, reserves, payment shock, and overall risk layering.

Important: Guidelines vs. Lender Reality

The credit-score ranges you see online (for example, 580–620) are lender overlays, not VA policy. The VA does not publish a minimum score. Each lender sets its own credit floor to manage risk and investor requirements.

That means you can be fully VA-eligible and still not qualify with a particular lender because of their internal overlays. In those cases, a different lender or a brief time spent improving your credit profile can make a material difference.

Step 3: Income, DTI and Residual Income

VA underwriting looks at both your debt-to-income (DTI) ratio and your residual income. Residual income is the amount of money left over each month after paying your mortgage, taxes, insurance, and all other monthly debts.

Debt-to-Income Ratio (DTI)

• The VA “guide” DTI ratio is 41% of your gross monthly income.
• Many Kentucky VA approvals close with DTIs above 41% when the rest of the file is strong.
• Higher DTI cases often require more residual income and stronger overall credit.

In practice, automated underwriting systems commonly approve VA loans in the 45–55% DTI range when the borrower shows strong residual income and stable credit. Manual underwrite files are usually held closer to the 41% guideline.

Residual Income

Residual income is a core part of VA’s ability-to-repay test. The VA publishes residual income tables by region, family size, and loan amount. Kentucky falls in the South region. The larger your family and the higher your loan amount, the more residual income is required.

Underwriters typically want to see:

• At least the minimum VA residual income for your region and family size.
• A cushion above the minimum if your DTI is higher than 41% or your credit is borderline.

This is why two borrowers with the same DTI can get different results: one has more residual income left over after all bills and therefore represents less risk.

Step 4: VA Loan Limits, Entitlement and Purchase Price

With full VA entitlement, many Kentucky buyers are no longer limited by a traditional county loan limit for no-down-payment purchases. Instead, the main question becomes: what is the maximum loan amount a lender is comfortable approving based on your income, credit, and obligations.

For veterans with partial entitlement, or who still have a VA loan on another property, county-based loan limits can still apply and may influence whether a down payment is required. These limits are adjusted periodically and follow conforming-loan benchmarks.

If you are not sure whether you have full or partial entitlement, that is something we confirm when we review your COE and run numbers for your specific scenario.

Step 5: Property Eligibility and VA Appraisal

The property must meet VA guidelines and Minimum Property Requirements (MPRs). At a high level, the home must be safe, sound, and sanitary for you to live in as your primary residence.

Key points:

• VA loans are for primary residences only, not second homes or investment properties.
• Single-family homes, some approved condos, and certain multi-unit properties can qualify if you live in one of the units.
• The VA appraiser will call out repairs that are health, safety, or structural in nature, and those items typically must be resolved before closing.

Cosmetic issues are usually less of a concern. Major safety or structural issues can delay or prevent closing until repaired.

VA Refinance Options in Kentucky

VA loans also offer strong refinance options for eligible Kentucky homeowners.

VA Interest Rate Reduction Refinance Loan (IRRRL)

• Streamlines an existing VA loan into a new VA loan with a lower rate or better terms.
• Often requires no appraisal, no full income documentation, and less paperwork than a standard refinance, subject to lender guidelines.
• Cannot be used to take out cash; its focus is on rate/term improvement and payment stability.

VA Cash-Out Refinance

• Allows you to refinance into a new VA loan and access equity for home improvements, debt consolidation, or other large expenses.
• VA historically permits high loan-to-value (LTV) options, but most lenders now cap cash-out closer to about 90% of your home’s value, sometimes less depending on credit and risk.
• Loan purpose, seasoning, and net tangible benefit requirements apply.

This is an area where lender overlays matter a lot. The same borrower might qualify for different maximum LTVs at different lenders.

What To Treat as Guidelines, Not Guarantees

There are three common areas where borrowers can be misled by oversimplified rules they find online.

Credit-score ranges like “580–620” are lender overlays, not VA rules. The VA does not publish a minimum credit score, but most lenders do, and those cutoffs change over time. A score that was acceptable two years ago may not be acceptable today with the same lender.

The 41% DTI number is a guideline, not a hard stop. Many VA loans close above 41% DTI when residual income, credit strength, and reserves support it. Files with DTI above 41% often face closer scrutiny and may require stronger residual income.

Cash-out refinance limits you see, such as “up to 90% of your home’s value,” are not universal. Actual LTV caps depend on lender overlays, current market conditions, and the risk profile of your file.

Because of this, any online rule of thumb should be treated as a starting point, not a guarantee of approval.

What You Should Always Double-Check

Before you lean on any online guideline, it is smart to verify a few key items for your specific situation:

• Confirm your accurate mortgage credit scores and recent credit history, not just a consumer score from a phone app.
• Run full DTI and residual income numbers that include all debts, taxes, insurance, HOA dues, and any support obligations.
• Verify that the property you want meets VA occupancy and property-condition rules.
• For refinance scenarios, confirm current value, desired loan amount, purpose (rate/term versus cash-out), seasoning, and lender LTV overlays.

This is exactly what a complete pre-approval is designed to do: translate general guidelines into a clear yes/no answer and a realistic price range for your specific file.

Related Kentucky Loan Programs

If you are comparing VA with other options, you may also want to review:

• Kentucky FHA Mortgage Loans
• Kentucky First-Time Home Buyer Programs and KHC
• Additional Kentucky first-time buyer resources

Frequently Asked Kentucky VA Loan Questions

Do I need a 620 credit score for a Kentucky VA loan?

No. VA itself does not set a minimum score, but many lenders in Kentucky prefer at least the low-600s for smoother approvals. Some lenders may consider lower scores if the rest of the file is strong.

Can I get a Kentucky VA loan with a DTI above 41%?

Yes, it is possible. Many VA approvals close above 41% DTI when residual income is strong and the rest of the file is solid. Higher DTIs often require more careful underwriting and compensating factors.

Can I use a VA loan to buy a home with zero down in Kentucky?

In many cases yes, provided you have sufficient entitlement and qualify based on income, credit, and property guidelines. With full entitlement, many buyers can purchase with no down payment.

Can I refinance my current loan into a Kentucky VA loan?

Yes, if you are eligible and the new VA loan provides a documented benefit. That could be a rate reduction using an IRRRL or a cash-out refinance if you want to access equity, subject to current lender LTV limits and guidelines.

How do I get started with a Kentucky VA pre-approval?

The first step is a conversation and a basic application. I will pull your COE, review your credit, income and obligations, and then walk you through your approval range and next steps.

Next Step: Talk Through Your Kentucky VA Options

If you are a veteran or active-duty service member looking to buy or refinance in Kentucky, I can walk you through your numbers, explain your options in plain language, and help you build a game plan that fits your budget and timeline.

Call or text, email, or use the contact form on the site to get started.

Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA
Phone/Text: 502-905-3708
Email: kentuckyloan@gmail.com
Office: 10602 Timberwood Cir, Suite 3, Louisville, KY 40223
NMLS #57916 | Company NMLS #1738461
Mortgage loans only offered in Kentucky.

This information is for educational purposes only and does not constitute a commitment to lend. All loans are subject to credit approval, acceptable appraisal, and underwriting terms. Not affiliated with or endorsed by any government agency, including the VA.

KENTUCKY VA MORTGAGE LOAN INFORMATION

COMMON KENTUCKY VA LOAN MYTHS FOR KENTUCKY VETERANS AND ACTIVE DUTY BORROWERS

1. VA loans are difficult to qualify for.
2. All VA loans require a down payment.
3. VA loans require private mortgage insurance (PMI).
4. You can't refinance a VA loan.
5. You can only have one VA loan.
6. You can use a VA loan once.
7. VA loans are not assumable.
8. You can't buy land with a VA loan.
9. You can't build a house with a VA loan.
10. VA loans only apply to the home purchase itself.

Is it hard to qualify for a VA loan?

Myth #1: Kentucky VA loans are difficult to qualify for.

Fact: VA loans have fewer credit restrictions compared to conventional loans. These reduced restrictions, like a higher debt-to-income (DTI) ratio and more leniency regarding credit scores, mean it can be easier to qualify. VA has no minimum credit score but lenders will have overlays with most being 620 and some going down to 580, with a few going all the way down to 500 but it is very difficult to get approved at this level --- though each individual case and lender will vary.

Do VA loans require a down payment?

Myth #2: All Kentucky VA loans require a down payment.

Fact: While conventional loans generally require down payment options that can reach up to 20%, no such thing is required with a VA home loan at or under the local conforming limit. Down payments are still an option, of course, but they are not a requirement.

The VA allows you to purchase jumbo loans, but the down payment depends on your entitlement:

• Full entitlement - 100% LTV (loan-to-value) maximum
• Partial entitlement - Maximum loan must be calculated using 25% guarantee of 1 unit county loan limit. Max LTV is lesser of max allowed or LTV required to meet 25% guaranty

Do VA loans have PMI?

Myth #3: VA loans require private mortgage insurance (PMI).

Fact: Private mortgage insurance is not required for VA loans. PMI typically adds 0.2%-0.9% of expenses to your monthly mortgage payments when you put less than 20% down. That’s a big additional expense you don’t have to worry about when you get a VA loan. Remember, VA loans do come with a funding fee.

Can you refinance a VA loan?

Myth #4: You can’t refinance a Kentucky VA loan.

Fact: Thanks to VA streamline and cash-out loan programs, VA loans are actually easier to refinance than conventional mortgages. The streamline version lowers the mortgage rate of an already existing VA loan, usually for less than the current principal and interest. This means it doesn't require a credit check or appraisal. The cash-out option involves a credit check and appraisal, since the home’s value represents the maximum loan amount and the new loan will be larger than the existing loan.

How many VA loans can you have?

Myth #5: You can only have one Kentucky VA loan.

Fact: There is no limit to the number of VA loans you can have. While it is possible to have multiple VA loans at once, this depends on VA loan entitlement. VA loan entitlement refers to the amount that the VA will pay your lender if you default on your loan. There is a limit on your VA entitlement. It can be split across multiple loans but the limit remains the same. For full entitlement, the VA covers:

• Up to $36,000 for loans < $144,000
• Up to 25% for loans > $144,000

If, however, you’ve used a portion of your entitlement in one loan that you’re still actively paying off (or defaulted on), the amount of entitlement you have on any new loan is reduced. This means that you may need to put money down yourself instead of having the usual benefit of a zero down payment for VA loans. To learn about VA loan limits and entitlement, visit us here.

How many times can you use a VA loan?

Myth #6: You can only use a Kentucky VA loan once.

Fact: There is no limit on the number of times you can use the VA loan benefit. You can use the benefit an unlimited number of times throughout your life, as long as you still qualify. To qualify, you need to meet certain requirements, which you’ll already be aware of if you’ve taken out a VA loan in the past. For those who haven’t taken out a VA loan prior, you can learn how to qualify here.

Are VA loans assumable?

Myth #7: Kentucky VA loans are not assumable.

Fact: Federally insured and guaranteed loans are usually assumable. This includes VA loans. What does it mean if a loan is assumable? An assumable mortgage is when the lender allows you, the buyer, to take over the current mortgage that the seller has. This can save a lot of money if the interest rates are lower on the existing mortgage than they would be to take out a new mortgage. Assumable mortgages allow buyers, who otherwise wouldn’t qualify for a VA loan, to take over a VA mortgage. This means that you would get most, if not all, of the benefits that come with VA loan eligibility. In order to assume a VA mortgage, you will need to meet certain requirements, such as:

• acceptable credit history and  credit score
• debt-to-income ratio to meet guidelines 
• No Bankruptcies or foreclosures in last 2 years ( Chapter 7) --Chapter 13 is possible within one year in the plan.
• acceptable work history for last two years
• residual income requirements
• property passing VA standards

You will also be required to pay the VA funding fee that comes with VA loans. This equates to 0.5% of the total loan amount. This may be waived if you’re an eligible military borrower who qualifies for an exemption. Other fees may be required as well.

For sellers, if a non-military borrower assumes your mortgage, your VA entitlement won’t be restored until the loan is paid in full. You will want to request that the lender releases you from liability on the loan to avoid dips in your credit reports if the buyer defaults or makes a late payment.

Can you buy land with a VA loan?

Myth #8: You can’t buy land with a Kentucky VA loan.

Fact: The VA doesn’t authorize buyers to singularly purchase land with a VA loan. However, you can purchase land and build a home on it. This is partially because VA loans are granted with a required occupancy period — you must use the property as your primary residence for at least one year. If there is already a home on the land, this is acceptable. Another acceptable scenario is if you plan to immediately build a home on the land after purchase. This may require a purchase/construction loan.

You can also purchase land with a conventional loan or certain other types of loans. Then you can build a home on the land using a VA construction loan. Upon completion, military borrowers can refinance VA construction loans into permanent VA loans. Builders must be VA-approved.

Finally, you can purchase land and build a property using a non-VA purchase/construction loan. Then you can refinance the loan upon completion of the build into a permanent VA loan (as long as the property meets the VA’s requirements).

Can you use a VA loan to build a house?

Myth #9: You can’t build a house with a Kentucky VA loan.

Fact: VA construction loans do exist, as mentioned above, and under the right circumstances, they can be refinanced into permanent VA loans. Ask your lender about VA purchase/construction loan options.

Can you use a VA loan for home improvement?

Myth #10: Kentucky VA loans only apply to the home purchase itself.

Fact: The VA allows for increases to purchase loans for the purpose of making renovations. The VA’s Energy Efficiency Mortgage program, for instance, lets borrowers add up to $6,000 to their home loan amount to install solar heating, insulation and storm windows, among other features.

In conclusion

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. 

1 -  Email - kentuckyloan@gmail.com 

2.   Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

---

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

2025 Kentucky VA Mortgage Guidelines

Things to know about getting a VA Mortgage Loan in Kentucky in 2025

Are you a veteran, active-duty service member, or surviving spouse looking to purchase a home in Kentucky?

 VA mortgage loans are one of the best financing options available for military personnel. With no down payment requirements, competitive interest rates, and flexible credit guidelines, these loans are designed to make homeownership more accessible.

Here’s everything you need to know about qualifying for a Kentucky VA mortgage loan in 2025:

1. No Loan Limits on VA Mortgages in Kentucky

One of the biggest advantages of a Kentucky VA loan is that there’s no limit on the loan amount you can borrow if you have full entitlement. However, keep in mind that the VA guarantees a portion of the loan, which may influence how much lenders are willing to lend without a down payment.

For high-cost areas in Kentucky, the loan amount may vary based on county-specific limits. Be sure to check with your lender or the VA's official website for updated limits in 2025.

2. VA Loans Are for Primary Residences Only

A Kentucky VA mortgage loan must be used to purchase or refinance your primary residence. Vacation homes, second homes, and investment properties are not eligible. However, VA eligible properties include:

Single-family homes
Multi-family homes (up to four units)
Condominiums approved by the VA
Manufactured or mobile homes on a permanent foundation that have only been moved once (from the factory or dealership to the land).

3. Surviving Spouses May Qualify

VA loans aren’t just for veterans and active-duty service members. Certain Kentucky VA surviving spouses may also be eligible. Here are some situations where eligibility applies:

The veteran was killed in action or died from a service-connected disability.
The spouse has not remarried (or remarried on or after age 57 and after December 16, 2003).
The spouse of a veteran who is missing in action or a prisoner of war.
The spouse of a totally disabled veteran whose death was not related to their disability.

4. Certificate of Eligibility (COE) Is Required

To qualify for a Kentucky VA mortgage loan, borrowers must obtain a Certificate of Eligibility (COE) from the VA. This document proves you meet the eligibility criteria for a VA loan. Here’s what you’ll need to get your COE:

Veterans: DD Form 214 (showing character of service and reason for separation).
Active-duty service members: A statement of service signed by your commander or personnel officer.
Surviving spouses: VA Form 26-1817 and the veteran’s DD Form 214, if available.
You can apply for your COE online, via mail, or through your lender.

5. Credit Score Requirements

While the VA itself does not set a minimum credit score, most lenders in Kentucky require a credit score of at least 620. Some lenders may approve scores as low as 500, but this often comes with stricter underwriting requirements and may delay the approval process.

To increase your chances of approval, it’s best to improve your credit score to 580 or higher. This will make the underwriting process smoother, especially if the automated underwriting system (AUS) is used.

6. VA Loans After Bankruptcy or Foreclosure

VA loans provide flexibility for borrowers who have faced financial difficulties. Here’s how you can qualify after a bankruptcy or foreclosure:

Chapter 7 Bankruptcy: Eligible 2 years after discharge.
Chapter 13 Bankruptcy: Eligible 1 year after filing, with on-time payments.
Foreclosure: Eligible 2 years after the foreclosure is finalized.
Short Sale:  Treated like a foreclosures and 2 years needed Some lenders may not require a waiting period.

7. Residual Income Requirement

VA loans are unique because they require borrowers to meet residual income requirements, ensuring you have enough money left over each month after paying your bills. This includes:

Mortgage payment (including taxes and insurance)
Credit card and loan payments
Utilities and other fixed expenses
Federal, state, and local taxes
The amount of residual income required depends on your family size and location. For example, in Kentucky (Southern region), a family of five needs to have $1,039 in residual income to qualify for a VA loan.

8. Key Benefits of Kentucky VA Loans

No Down Payment: You can finance 100% of the home’s purchase price.
No Private Mortgage Insurance (PMI): This can save you hundreds of dollars each month.
Competitive Interest Rates: VA loans typically have lower rates than conventional loans.
Flexible Credit Guidelines: More lenient than conventional and FHA loans.
No Loan Limits: Borrow as much as your lender approves based on your financial profile.

9. How to Apply for a Kentucky VA Mortgage Loan in 2025

Follow these steps to apply for your VA loan:

Check Your Eligibility: Obtain your COE through the VA or your lender.
Improve Your Credit: Aim for a credit score of 580 or higher. '
Find a VA-Approved Lender: Work with an experienced lender familiar with VA loans in Kentucky.
Get Pre-Approved: Provide your lender with income, asset, and debt information to secure pre-approval.
Choose Your Home: Select a property that meets VA guidelines (primary residence, approved property type, permanent foundation, etc.).
Close on Your Loan: Finalize your loan with your lender and move into your new home!

As a veteran myself (19K Tanker) and a mortgage professional, I’ve helped over 100 veterans secure VA loans in Kentucky. Whether you’re buying your first home, upgrading, or refinancing, I’m here to make the process seamless.

Have questions about qualifying for a Kentucky VA mortgage loan in 2025? Call, text, or email me today!

Qualifying for A VA Home Loan in KY

Kentucky VA Mortgage Question and Answers for Qualifying for A VA Home Loan in KY?

Does the Kentucky VA Home Loan benefit expire?   NO Can the Kentucky VA Home Loan Benefit be used more than once?  YES Can you have MORE than one active Kentucky VA loan at one time?  YES Is there a limit to the size of the Kentucky VA loan?  NO Are VA appraisals difficult?  NO Are VA loans expensive?  NO Do you need to be a combat veteran to be eligible?  NO Do National Guard or Reservists qualify?  YES Do VA loans take longer to close?  NO Can my service-connected disability reduce my VA loan costs?  YES ­ ­

I have a website below about me so check it out. I have great reviews and will get you the best deal out there on your loan. 

https://www.mylouisvillekentuckymortgage.com/p/va-loans.html

My reviews on google below 

https://www.google.com/maps/place/Joel+Lobb,+Mortgage+Broker+FHA,+VA,+KHC,+USDA/@38.2347121,-85.5770432,17z/data=!3m1!4b1!4m5!3m4!1s0x88699fedadd9407f:0xbdaebf3c776087b0!8m2!3d38.2347121!4d-85.5748545?hl=en-US

Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Mortgage Checklist Documents for Approval

Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Mortgage Checklist Documents for Approval: Required for all Borrowers Pre-Approval Required Documents W-2’s (2 years) Drivers License Tax Returns (2 years) Bank Statements (2 months- ...

Kentucky VA Mortgage Checklist Documents for Approval

Required for all Borrowers

Pre-Approval Required Documents W-2’s (2 years)

Drivers License

Tax Returns (2 years)

Bank Statements (2 months- all accounts)

Employed Borrowers (with a W-2) Paystubs (totally one month) Retirement Statement (most recent)

*SSI Disability Requirement - SSI Reward Letter

Self-Employed Borrowers

(1099/Schedule C/Schedule S, etc.)

Tax Returns (2 years; Personal and business with statements and schedules)

Retirement Statement (most recent)

*SSI Disability Requirement - SSI Reward Letter

Veteran (VA) Borrowers

Pension Reward letter

Social Security Reward Letter Social Security Card

Retired Borrowers

Social Security Reward Letter & 1099 2 years W-2’s (where applicable) Social Security Card

Retirement Statement (most recent 2 months)

Social Security Income Borrower

VA Benefits Award Letter Social Security Card

Retirement Statement (most recent 2 months)

How to apply for a Kentucky VA Home Loan?

• Kentucky VA guaranteed home loans benefit veterans because they do not need to make a down payment and there is no upper limit or required cap on the income of the borrower.  Without a down payment as security against foreclosure, lenders receive a certificate of guaranty from VA. 
•  In essence, as gratitude for honorable military service, the government is vouching for the veteran's trustworthiness to repay his/her debt.  

• To determine eligibility, a military veteran, active duty person, or a member of the national guard or selected reserves, must submit a VA Form 26-1880 (2 pages) (Form is now in a FILLABLE format - but people with Adobe 5.0 seem to have trouble with it) along with proof of service (DD Form 214, a statement of active duty, or proof of participation in the national guard or reserves) to the VA Eligibility Center, P.O. Box 100034, Attn. COE (@^@), Decatur, GA 30331. 
• 
  
•  Based on the applicant's length and type of service, VA issues a certificate for each person determined eligible to apply for a VA guaranteed home loan.  Check the status after ten days by calling 1 (888) 768-2132, option 1, between 8:00 - 4:00 Eastern time.

2. Viewing and Inspecting the Home

• Kentucky Home buyers usually use the services of state-licensed real estate agents to: determine an affordable price range, suggest certain home features suitable for the buyer, schedule home tours, negotiate sales contacts and hold earnest money deposits.  
• State-licensed real estate professional can explain the legal requirements for buyers and sellers, and can refer buyers to local lenders and certified home inspectors.  Buyers should accompany their preferred home inspector during the inspection of the property to ask questions about the home's systems.  

3. Requesting the Loan

• Kentucky Home buyers may want to contact a lender even before they sign a contract for a home, so that they can be pre-approved to determine their maximum mortgage amount.  Home buyers who wish to obtain a VA guaranteed loan should make sure that the sales contract includes a phrase, sometimes called a financing contingency, making the contract subject to approval for a Kentucky VA guaranteed loan.  
• Lenders verify and review past and present job and credit history of home applicants and compare it with VA loan approval guidelines.  If the documents with the loan request cannot be approved, then additional written information must be presented to the lender or the Kentucky VA for further consideration.

• Kentucky VA Lender Appraisal Processing Program (LAPP) lenders can process loans faster than other lenders. Kentucky VA LAPP lenders do not need to send any paperwork to VA until after the home sale is closed. VA's long-standing policy is not to recommend any specific lender.

• VA recommends that buyers compare lending terms among several lenders in order to find the best combination of interest rates, discount points, and other negotiable costs for a Kentucky VA guaranteed loan.

4. Appraising the Property

• When an eligible veteran contacts a lender to request a Kentucky VA guaranteed loan, the lender obtains a VA number for the request via the Internet.  The lender uses the VA number to monitor progress of the appraisal and loan application.  The lender also sends a VA form to a state-licensed real estate appraiser who will visit the home to give the lender and VA an opinion of the market value of the property. 
•  The appraisal tells the lender and VA whether the property is expected to be adequate collateral for the requested loan.  Neither the appraisal of the home nor the VA guaranty is a warranty from constructional defects and their resulting repair costs.  Builders and brokers can issue warranties for the condition of the home's structure and systems.

5. Closing the Sale

• If the loan and home are approved, the buyer needs to contact a state-licensed insurance agent who will provide homeowner coverage to protect the owner and lender from property damage and loss.  
• Title to the home is usually examined and insured by a title insurance company that may also prepare closing documents and enter them into public records after the closing. After the home is purchased and the loan is originated, the lender usually sells the active loan to another company which will receive the loan payments and pay the real estate taxes and insurance premiums. 

6. Closing Costs for Kentucky VA Home Loans

• VA regulates the closing costs that a veteran can be charged when obtaining a VA home loan. The closing cost regulation is designed to keep lenders from charging veterans those closing costs that VA has determined as being beneficial to the lender and not necessarily beneficial to the veteran. For a list of allowable and unallowable closing costs, please follow the link below.

• 
  

• A List of Allowable and Unallowable VA Closing Costs.    

7. Prequalifying Worksheet

• The Prequalifying Worksheet will give you a general idea of what you can afford, and whether you are within VA underwriting guidelines for approval.  This Prequalifying Worksheet is not a commitment to lend, nor can it be used to determine whether a lender will approve the Kentucky VA loan.   Please note, the Prequalifying Worksheet is in Excel format.   Prequalifying Worksheet    

Mortgage Application Checklist of Documents Needed 

below  👇

W-2 forms (previous 2 years)
Paycheck stubs (last 30 days - most current)
Employer name and address (2 year history including any gaps)
Bank accounts statement (recent 2 months – all pages
Statements for 401(k)s, stocks and other investments (most recent)
federal tax returns (previous 2 years)
Residency history (2 year history)
Photo identification for applicant and co-applicant (valid Driver’s License







Joel Lobb (NMLS#57916)

Senior Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223

Company ID #1364 | MB73346

Text/call 502-905-3708

kentuckyloan@gmail.com


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.nmlsconsumeraccess.org/

NMLS Consumer Access for Joel Lobb 

Accessibility for Website 

Privacy Policy

Louisville Kentucky VA Home Loan Mortgage Lender: Tips on getting a Kentucky VA Mortgage Guidelines ...

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 time.
• If the DD-214 is a Dishonorable Discharge, the Veteran can re-apply and get their
benefits reinstated and then buy their home. (Apply to the BCMR to upgrade on
basis of clemency)
• No max loan amount & no max amount of closing costs a seller can pay.
• Time of service requirements can be appealed if they are discharged due to a
service-related disability
• Student loans in deferred status that go by old guidelines can be omitted.
• Disputes do not need to be removed to qualify. This is a good trick if you need a
couple extra points. (Disputing collections)
• Time of service requirements can be appealed if they are discharged due to a
service-related disability.
• LP is generally nicer to VA Loans that have derogatory trade lines

Mortgage Application Checklist of Documents Needed below  👇

W-2 forms (previous 2 years)
Paycheck stubs (last 30 days - most current)
Employer name and address (2 year history including any gaps)
Bank accounts statement (recent 2 months – all pages
Statements for 401(k)s, stocks and other investments (most recent)
federal tax returns (previous 2 years)
Residency history (2 year history)
Photo identification for applicant and co-applicant (valid Driver’s License







Joel Lobb (NMLS#57916)

Senior Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223

Company ID #1364 | MB73346

Text/call 502-905-3708

kentuckyloan@gmail.com


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.nmlsconsumeraccess.org/

NMLS Consumer Access for Joel Lobb 

Accessibility for Website 

Privacy Policy

Kentucky VA Allowable Closing Costs On a VA Mortgage

ALLOWABLE CLOSING COSTS ON A KENTUCKY VA MORTGAGE LOAN

Maximum 1% origination fee or mortgage broker fee
Appraisal and compliance inspections for followups (442)
Recording fees 
Credit report fees
Prepaid items (taxes, assessments and similar items) 
Hazard insurance fee
Flood determination 
Survey 
Title examination 
Title insurance 
Special mailing fees for refinancing loans 
(MERS) fee 
Other fees authorized by VA 
If an origination fee is charged, lenders may NOT assess veterans any other 
fees, other than the allowable fees noted above.

Joel Lobb
Senior  Loan Officer

(NMLS#57916)

 phone: (502) 905-3708

 Fax:     (502) 327-9119

kentuckyloan@gmail.com

 Company ID #1364 | MB73346

http://mylouisvillekentuckymortgage.com/

Fill out my form!