Kentucky Mortgage Lender

Kentucky Mortgage with Variable Income: FHA, VA, USDA & Fannie Mae Approval Guide Expert Guide by Joel Lobb How to Get Approved for a Kentucky Mortgage with Variable Income: Complete FHA, VA, USDA & Fannie Mae Guide Helping Kentucky families with irregular income qualify for mortgages since 2004. Over 1,300 families approved. Quick Answer: If your income includes hourly wages with fluctuating hours, commissions, bonuses, or overtime, you have variable income. The good news? You can still get approved for FHA, VA, USDA, and Fannie Mae loans—but lenders use a specific averaging method to calculate your qualifying income. This guide explains exactly how that works. Table of Contents What Is Variable Income? How Lenders Calculate Variable Income Income History Requiremen...

Analysis of Prospects for Continued Employment for a Kentucky VA Mortgage Loan Cases involving recently discharged Kentucky Veterans often require the underwriter to exercise a great deal of judgment and flexibility in determining whether the employment income will continue in the foreseeable future. This is because some Veterans may have little or no employment experience other than their military occupation. Continuity of employment is essential for a Kentucky Veteran with no retirement income, or insufficient retirement income, to support the loan obligation. If the duties the borrower performed in the military are similar or directly related to the duties of the present position, use this as one indicator that the employment is likely to continue. Most cases fall somewhere between these extremes. Fully develop the facts of each case to make a determination Borrowers Employed for Less than 12 Months for a Kentucky Mortgage Loan Generally, employment less than 12 months is not consid...