Kentucky Mortgage Lender

-- Joel Lobb   Email -  kentuckyloan@gmail.com    Call/Text -  502-905-3708   www.mylouisvillekentuckymortgage.com   911 Barret Ave., Louisville, KY 40204 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

 Kentucky FHA Gift of Equity and Gift Funds for Down Payment Requirements Gifts may be provided by: •  Borrower's family member*; •  the borrower's employer or labor union; •  a close friend with a clearly defined and documented interest in the borrower; •  a charitable organization; •  a governmental agency or public entity that has a program providing homeownership assistance to: •      low or moderate income families; or •      first-time homebuyers. *Family member defined as: •  child, foster child, parent, or grandparent; spouse or domestic partner; •  legally adopted son or daughter, including a child who is placed with the borrower by an authorized agency for legal adoption; •  brother, stepbrother, sister, stepsister; •  uncle or aunt •  son-in-law, daughter-in­ law, father-in-law, mother­ in-law, brother-in-law, or sister-in-law of the borrower. Guidelines -  Personal Gift Funds •   ...

In most cases, it's ok with lenders to use  gift money  from a family member to make a  down payment . The  FHA  allows  down payments  of as little as 3.5 percent,  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/  

Can a family member help you come up with the down payment for a mortgage? If so, are there any limits on how much they can provide or other restrictions? The answer is yes, in both cases. In today’s economy, many potential home buyers, young people in particular, are looking to their parents or other relatives for help in coming up with money for a down payment. Advantages of a larger down payment A larger down payment can make it easier to get a mortgage, make it possible to get a larger mortgage than you would otherwise have qualified for, or reduce the interest rate on your home loan, so there are a lot of benefits to using gift money for a down payment. There are certain limitations, however, so you want to be aware of them before you get started. Do all lenders allow gift money for a down payment? In most cases, it’s ok with lenders to use gift money from a family member to make a down payment. The FHA allows down payments of as little as 3.5 percent, and al...

KENTUCKY FANNIE MAE CONVENTIONAL LOAN MINIMUM BORROWER CONTRIBUTIONS CHANGES FOR 2019  Fannie Mae New Loan Limits for Kentucky in 2019 Fannie mae has just announced an increase to Kentucky's County Loan Limits for 2019. Effective  Thursday November 29 th , Fusion will be updated to allow Kentucky Conventional loans to be locked using the 2019 Loan Limits. The new loan limits are listed below. Individual County Loan Limits for 2019 can be found on Kentucky Fannie Mae Conventional  Loan Limit Look-Up Table  HERE .   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 ...

Interest Rates *** $15,000 Neighborhood DAP available from loan fallout *** ****  MRB Special Funding  **** Limited Availability -- Monies Still Available   Interest Rate:  2.50% without Down Payment Assistance                         3.00% with Down Payment Assistance   $35,000  Household Income Limit First time home buyer, unless property located in targeted county Existing or new construction property -- purchase price limit  $115,000   Regular and Affordable DAP available FHA, VA or RHS first mortgage programs through MRB Funding 640 credit score Borrower must demonstrate a need for the special funding.  The borrower's housing ratio must be at a minimum of 25% Maximum ratios of 40/45% with AUS approval Secondary Market Interest Rates -- 45-Day Lock    Loan Type ...