Kentucky Mortgage Lender

Kentucky homebuyers — big news! For a limited time, you can get up to $12,500 in down payment assistance through the Kentucky Housing Corporation. From August 21st through November 30th, KHC has boosted its assistance from $10,000 to $12,500. That’s more cash to cover your down payment, closing costs, and even prepaids. This program works with FHA, VA, USDA, and Conventional loans. First-time and repeat buyers may qualify, with a minimum credit score of just 620 Example: On a $200,000 home, your down payment and closing costs could total $12,500. With KHC, you could buy with little to no money out of pocket. Here’s how it works: check your credit, verify income, and apply through a KHC-approved lender. Funds are limited, so reserving early is key Don’t miss out — this $12,500 program ends November 30th. Contact Joel Lobb at EVO Mortgage today to get pre-approved and lock in your assistance Joel Lobb – EVO Mortgage NMLS 57916 | EVO Mortgage NMLS 1738461 📞 502-905-3708 📧 ke...

KENTUCKY DOWN PAYMENT ASSISTANCE GRANT FOR 2022 KENTUCKY HOMEBUYERS FHA LOAN WITH DAP ASSISTANCE We will be rolling out our Down Payment Assistance Program (DPA) program… An in-house DPA program that allows FHA borrowers to go to 100% Financing *The DPA will be a fully forgivable grant with no repayment or deed restrictions *Approve/Eligible required *Min FICO= 660 Projected Roll-Out is currently September 1st NMLS 57916 NMLS 1364 Equal Housing Lender For licensing go to nmlsconsumeraccess.org. Subject to credit approval. Restrictions apply. Information provided is for educational purposes only. -- 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. my...

  There are various types of down payment assistance to buy a home in Kentucky with little or no money down! Here are a few: Kentucky FHA loans - federal loan through the Federal Housing Authority-Credit scores low as 620 and gifts can be used or down payment assistance from government agency to meet the 3.5% down payment investment. No income limits but max loan currently is $356,000 in Kentucky for 2021 Kentucky USDA loans - zero down mortgages for rural and suburban homeowners-640 credit score needed currently for most loans and has income limits and property location restrictions Kentucky VA loans - if military service or active duty, can buy a home with zero down with a 620 minimum credit score. No income restrictions and can buy a house anywhere as long as VA appraisal supports the purchase price. No max loan limits but must meet residual income requirements and Eligibility based off Certification of Eligibly Entitlement. Amount. Kentucky Housing Down Payment Assistance o...

  If you’re a Kentucky  first-time homebuyer looking for low down payment mortgage options, several may be available to you. In fact, many of these options are available even if you aren’t a Kentucky first-time homebuyer. Low down payment mortgage options and requirements for Kentucky Homebuyers: Down payment mortgage options and requirements for Kentucky Homebuyers -- 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/

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 ...

Fill out my form! KHC Down payment Assistance for Kentucky First time home buyers Down payment Assistance Program (DAP) 1. Make sure the property is existing (previously occupied) and below the purchase price limit of $195,700.  If not, HOME DAP is eliminated.  Proceed to question 3. 2. To ensure HOME DAP eligibility, ensure the following requirements are met: • Household income below the HOME DAP income limits, available in the MRB Program Guide, page 10. • Borrower requires a minimum of $1,000 assistance, up to a max of $4,500, based on need.  Must use their own liquid funds in excess of two months’ PITI before they look to HOME DAP. • Must go maximum allowed LTV on the first mortgage. • Property must pass HQS inspection (Lead Paint). • Cannot be used in conjunction with REO properties or FHA 203K streamline program. If all of these are met, you must determine how much HOME DAP can be accessed. This is total cash needed to close, minus seller c...

KHC Loan Programs  Conventional Loans The KHC also offers a conventional loan program for borrowers with a credit score of 660 or better. The conventional loan features a quick turnaround time, requires a 20% down payment, and has no up-front or monthly mortgage insurance. Under the program, the loan is insured by an approved mortgage insurance company  FHA Loans The FHA loans offered through the KHC require that borrowers have a minimum credit score of 620. The loans feature down payments of as little as 3.5% and upfront and monthly mortgage insurance. The KHC’s Regular Down payment Assistance Program (DAP) can be used for the 3.5% down payment requirement.  All FHA loans are insured by the Federal Housing Administration  (KHC Loan Programs  VA Loans As with all VA loans, the VA loans offered through the KHC are guaranteed by the Veterans Administration for qualified military veterans with a minimum credit score of 620. These l...

Kentucky Housing Corp or KHC KHC is used for mostly applicants in urban areas of Kentucky that don't have access to USDA or other government agencies to buy a home with no down payment. A minimum of 3.5% down payment is required with this loan. Down payment assistance loans are available from $4500-$6,000, and are paid back over a period of ten years. They are typically offered to buyers with limited cash reserves and carry an interest rate of 1 to 5.5%. These loans can make a critical difference to buyers for whom the down payment is an obstacle. Buyers whose 3.5% down payment is less than the $6000 limit may choose to use the remainder of a down payment loan to pay closing costs, further reducing the amount needed to bring to closing.

Fill out my form! Kentucky Housing first mortgage loans KHC Loan Programs KHC Loan Programs MRB All MRB Kentucky Housing first mortgage loans are for a 30-year term at a fixed rate of interest. The home you purchase through Kentucky Housing must be the only residential property you own and you must occupy the home as your principal residence while the loan debt is still outstanding. To qualify, you must meet KHC’s regular  MRB income guidelines , make a down payment or qualify for down payment assistance, be a US citizen or legal alien and have an acceptable credit history. Some MRB KHC loans are subject to a  federal recapture tax . Recapture is a federal income tax that the borrowers may have to pay if they have considerable growth in their income and they sell or transfer their KHC-financed home within 9 years.  However, KHC has implemented a Recapture Tax Guarantee Program for all loans that close after Oct...