I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 1300 Kentucky families buy their first home and refinance their current mortgage for a lower rate; Kentucky First time buyers $0 down still available with down payment assistance with KHC. Free Mortgage applications same day approvals. Web site is not endorsed by the FHA, VA, USDA govt agency. Text/call 502-905-3708 kentuckyloan@gmail.com NMLS 57916 NMLS ID1364
Pages
- 4 Things Required for a KY Mortgage Loan Approval
- Down Payment Assistance Kentucky 2024 Kentucky Housing Corporation KHC
- Credit Scores Required For A Kentucky Mortgage Loan Approval in 2024
- Kentucky First-time Home Buyer Programs
- Kentucky FHA Mortgage Information
- Kentucky VA Mortgage Loan Information
- USDA Rural Housing Kentucky Loan Information
- Zero Down Kentucky Mortgages
- First-time Home-buyers in Kentucky
- Documents Needed Mortgage Approval in Kentucky
- Free Credit Score Booklet
- Do's & Dont's before closing:
- Closing Costs Kentucky Mortgage
- Lock Kentucky Mortgage Loan Rate
- Home Inspections Kentucky
- Home
- Accessibility Statement
- Legal / Privacy Policy / Accessibility Statements
Kentucky First Time Home Buyer Mortgage Loans: Bankruptcy Guidelines for Kentucky First Time Home...
Kentucky First Time Home Buyer Mortgage Loans: Bankruptcy Guidelines for Kentucky First Time Home...: You can obtain a copy of your bankruptcy paperwork from the website below: Bankruptcy Courts http://www.pacer.psc.uscourts. go...
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Louisville Kentucky VA Home Loan Mortgage Lender: VA Student Loans
Louisville Kentucky VA Home Loan Mortgage Lender: VA Student Loans: VA Student Loans Did you know that VA has a new policy for calculating student loan payments? Considering the Payment: If the stude...
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Louisville Kentucky VA Home Loan Mortgage Lender: VA Student Loans
Louisville Kentucky VA Home Loan Mortgage Lender: VA Student Loans: VA Student Loans Did you know that VA has a new policy for calculating student loan payments? Considering the Payment: If the stude...
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
100% Financing, Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: Kentucky FHA Guidelines for Credit scores, First-T...
100% Financing, Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: Kentucky FHA Guidelines for Credit scores, First-T...: Kentucky FHA Guidelines for Credit scores, First-Time Buyers, Refinances, Bankruptcy and Foreclosure 11 Questions and...
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
100% Financing, Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: Kentucky HUD Homes for Sale with the FHA $100 Down...
100% Financing, Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers: Kentucky HUD Homes for Sale with the FHA $100 Down...: Kentucky HUD Homes for Sale with the FHA $100 Down Program The appraiser identifies the repairs that are required to satisfy Kentucky ...
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Kentucky Home Loan Mortgage Types
Kentucky Mortgage Loan Terms
Kentucky FHA Loan: | A Kentucky FHA Loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration. FHA loans have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise been able to afford. FHA loans require 3.5% down payment but it can be gifted from relatives or family member or use a state housing agency down payment assistance program. Mi upfront is 1.75% and monthly mi is .85% to .80% depending on your term. |
Kentucky VA Loan: | A Kentucky VA Loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs. The VA loan allows veterans 100% financing without private mortgage insurance for monthly payments but it does have a funding fee upfront varying from 2.15% to 3.3% depending on your situation. Some Veterans are not required to pay if they have a VA disability. |
Kentucky USDA Rural Housing Loan: | Single Family Housing Guaranteed Loan program or Section 502 loans are primarily used to help households purchase homes in rural areas. The Kentucky USDA loan allows for 100% financing with upfront mi fee of 1% and monthly or annual mi of .35%. This is very low compared to FHA loans in Kentucky |
DTI Ratio: | Debt-to-Income Ratio indicates the percentage of income that goes toward paying all recurring debt payments, including mortgage, interest, mortgage insurance, and other debts such as credit card payments, car loan payments, student loan payments, child support payments, alimony payments, and legal judgments. |
Down Payment: | The difference between the investment price and the loan amount. |
Closing Costs: | All the cost that a lender requires to obtain a loan. |
Fixed Rate: | A constant interest rate that does not change for the term of the loan. |
Adjustable rate: | An interest that can change during the term of the loan on an annual basis. |
Rate Buy Down: | Lowers your interest rate for a given duration on a fixed mortgage reducing your monthly mortgage payment. |
Credit Report: | A report that contains a person's credit history. |
Appraisal: | A report that gives the current market value of the home. |
Term: | The number of years to pay off a loan. |
Points: | 1% of the loan amount a lender may charge. |
Pre-Paids: | Expenses that the lender requires being paid upfront. (Homeowners Insurance, Escrow Accounts, Interest) |
Short Interest: | Interest collected from the date of closing to the end of the month. |
Mortgage Insurance: | Insurance required by the lender for loans with less than 20% down payment. |
Home Owners Insurance: | Insurance required by the lender to replace the homes value in the case of disaster. |
Labels:
Conventional loan,
Debt to Income Ratio,
down payments,
FHA,
FHA Loans Kentucky Housing First time home buyer,
Louisville Kentucky First Time Home Buyer,
rhs loans kentucky,
USDA,
VA
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Popular Questions about getting a mortgage loan in Kentucky?
Popular Questions about getting a mortgage loan in Kentucky?
Are VA Loans the only type of mortgage loan that require a Termite Report?
Yes. VA loans require a clear termite report on both purchases and refinances. USDA, FHA, Fannie Mae loans do not require a termite report unless noted in the appraisal report.
Can a buyer have two VA loans at once?
Yes, a Veteran or active service member could have 2 VA loans at once. This is a pretty complex process but it can be done. I have done a few in my mortgage career.
Can I purchase a home without PMI and only put down less than 20%?
Can I purchase a home without PMI and only put down less than 20%?
Yes you can. There are two ways to do this on Conventional loans only. If you have a high credit score, say over 740, and your debt to income ratio is less than 45%, you can buy a home without having to pay mortgage insurance monthly. The offset of this, is it usually entails the lender increasing your interest rate by .25% to 3.375% to cover this risk. For example, if you got quoted a rate of 4% on a 30 year fixed with borrowing paying mi monthly, then you could increase the rate to 4.375%, and drop the mi. You have to weigh the pros and cons to set if it makes sense. The term is called lender paid mi.
On Government loans financed with FHA, USDA, and VA, you don't have this option.
Yes, 2nd home purchases can be as low as 10% down plus there are some very affordable PMI options for buyers with great credit scores. USDA, FHA, and VA are not usually used for 2nd home purchases because they are mainly used for primary residences.
Isn't there a time that the seller must own a property so that the buyer can use an FHA loan?
Yes, it is called FHA Flipping Rules. It is pretty flexible but it flat out must be longer than 3-6 months and may require a 2nd appraisal depending on the acquisition costs and how much they are selling it for.
Joel Lobb
Senior Loan Officer
Senior Loan Officer
(NMLS#57916)
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
email me at kentuckyloan@gmail.com
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
Labels:
Fannie Mae,
FHA Mortgage insurance,
flipping rule FHA,
Kentucky First Time Home Buyer Programs (KY),
lender paid mi,
MIP,
pest termite report,
PMI Mortgage insurance,
second homes,
termites,
upfront mi
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
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