I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 900 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 ID 1364
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky First Time Home Buyer Programs to Conside...
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky First Time Home Buyer Programs to Conside...: First Time Home Buyer Programs to Consider for 2022 Kentucky Homebuyers. Zero Down Mortgage Loans in Kentucky The Kentucky VA and the Kentuc...
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 Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky FHA Mortgage Information
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky FHA Mortgage Information: How to Qualify For a Kentucky FHA Mortgage Loan 1. Low Down Payment – FHA Mortgage Loans only require a 3.5% down payment. And what m...
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.
Student-Loan Freeze Led to Big Credit-Score Gains
Student-Loan Freeze Led to Big Credit-Score Gains, N.Y. Fed Says
- Some 30 million student borrowers saw scores rise, study says
- Freeze is set to expire on Aug. 31 but Biden may extend it
Share of Borrowers by Credit Score
Credit scores for student loan borrowers increased dramatically
Here are some key takeaways from the New York Fed report.
Better Credit Scores
The share of student-loan balances held by subprime borrowers fell to 26% in 2021, from 36% in 2019. That’s primarily because loans owed to the federal government that were delinquent before the pandemic were marked as current under the forbearance policy, putting millions of households on a sounder financial footing.
“The end of forbearance will have impacts on credit scores, borrowing, and household cash flow over the coming year for the 38 million federal borrowers that have benefited from the pause,” the New York Fed researchers wrote. “Some borrowers will enter delinquency or default.”
Growing Balances
With repayments on hold, about two-thirds of student-debt holders had balances that were growing or flat at the end of 2021, compared with just 48% in 2019. That’s an increase of roughly 3.2 million borrowers.
There was also a shift in the typical size of debts, with larger loans accounting for a bigger share of the total. At the same time, 5.4 million people who were recorded as having student debt outstanding at the end of 2019 no longer owed anything by the end of 2021.
Loan Shifts
Since the pandemic, larger debts have increased as a share of total loans
Source: Federal Reserve Bank of New York Consumer Credit Panel / Equifax
DC Debt Leader
On average, student borrowers in and around the nation’s capital owed the most at the end of 2021. Washington DC topped the list, with an average debt of $53,769, while Maryland ranked second and Virginia fifth.
Student Loans by State
Average balances vary widely across states
Source: Federal Reserve Bank of New York Consumer Credit Panel / Equifax
Note: As of Q4 2021, average balance
“Of the ten states (not including D.C.) with the largest median balance, seven belong to the Southern Census region (Georgia, Maryland, Virginia, North Carolina, South Carolina, Alabama, and Tennessee),” the report found.
Top 10 Student Loan Debt
Seven of top-10 largest belong to the Southern Census region
Source: Federal Reserve Bank of New York Consumer Credit Panel / Equifax
Note: Ranked by median loan amount
Once the forebearence period ends, loan amounts are anticipated to rise and delinquency rates across states in the South are expected to have worse outcomes.
https://www.bloomberg.com/news/articles/2022-08-09/student-loan-freeze-raised-credit-scores-dramatically-ny-fed
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 FHA Acceptable Sources of Heat for Appraisals
Kentucky FHA Acceptable Sources of Heat for A FHA Mortgage Loan Approval
Many people ask me what types of heat sources are okay for homes where the borrower is using FHA to finance the property.
Here’s the information – and by the way, USDA (Rural Housing) uses FHA rules listed below as their heat source guidelines too.
General Guidelines
• All habitable rooms must have a heat source
• Certain areas of the country do not require a heat source if normal for the area (i.e., Hawaii, certain counties in Florida)
Wood Stoves & Solar Systems
• Acceptable with certification that they were installed according to manufacturer’s recommendations.
• Must ALSO have a conventional heat source in all living areas.
• Must also have a heat source to maintain 50 degrees F in rooms where plumbing is located.
(Example: electric baseboard heat in bathroom, kitchen and basement/crawl space where plumbing pipes are located.)
Floor Heaters
• Acceptable
• If needs repairs or insufficient heat source for home, will require upgrade to conventional heat system.
Non-conventional Heating Systems
• Space heaters or non-conventional heat sources must comply with local codes.
• If does not comply, conventional heating system must be installed.
Propane Tanks
• Must be located a safe distance from the home.
• Must have ownership of propane tank UNLESS only leased tanks are available and normal for the area.
• Propane furnaces located in crawl space or basement is not acceptable.
I’m sure I have not covered every possibility but give me a call if you have any questions or reservations about listing a home that you think may not have an acceptable source of heat.
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 USDA Rural Housing Mortgage Lender: Credit Scores - Everything you need to know
Kentucky USDA Rural Housing Mortgage Lender: Credit Scores - Everything you need to know: https://www.kyjustice.org/topics/money-debt/credit-reports
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 Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Louisville Kentucky First Time Home Buyer Programs
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Louisville Kentucky First Time Home Buyer Programs: Kentucky First Time Home Buyer Programs If you are a potential Louisville Kentucky First Time home buyer first time home buyer in ...
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: Kentucky VA Home Pest Termites Inspection Fees and...
Louisville Kentucky VA Home Loan Mortgage Lender: Kentucky VA Home Pest Termites Inspection Fees and...: Veterans Benefits Administration Circular 26-22-11 Department of Veterans Affairs June 15, 2022 Washington, D.C. 20420 Pest Inspection Fees...
Text/call: 502-905-3708
Kentucky VA Home Pest Termites Inspection Fees and Repairs cost for Veterans
Veterans Benefits Administration Circular 26-22-11
Department of Veterans Affairs June 15, 2022 Washington, D.C. 20420
Pest Inspection Fees and Repair Costs
1. Purpose. This Circular addresses the Department of Veterans Affairs policies regarding wood destroying pest inspection fees and repair costs.
2. Background. Historically, VA has authorized, as a local variance, that Veterans may be charged for a wood destroying pest inspection report in a limited number of states and territories.1 Localities susceptible to termites and other wood destroying pests, however, are on the rise. Accordingly, VA requires, as a Minimum Property Requirement, a wood destroying pest inspection report for certain properties located in an area on the Termite Infestation Probability Map2 where the probability of termite infestation is “very heavy” or “moderate to heavy.”3 If applicable, the VA Notice of Value (NOV) will be conditioned for this requirement and MPR repairs identified on a wood destroying pest inspection report must be completed prior to guaranty.4
3. Action. Effective immediately, VA is authorizing in advance, as a local variance, that Veterans may be charged wood destroying pest inspection fees, where required by the NOV. Veterans may also pay for any repairs required to ensure compliance with MPRs. Veterans are encouraged to negotiate the cost of the wood destroying pest inspection and repairs with the seller.
a. Documentation for Audit Purposes. An itemized invoice identifying the Veteran and the property is required to verify the cost on the Closing Disclosure Statement (CD). Lenders should include the invoice(s) to support the cost of the inspection and any repairs in the loan file if the loan is selected for Full File Loan Review (FFLR).
4. Paperwork Reduction Act. The information collection requirements contained in this document have been approved by the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 (44 U.S.C. § 3501-3520) and assigned OMB control number 2900-0515. In accordance with the Paperwork Reduction Act, VA may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection displays a currently valid OMB control number
1 38 C.F.R. § 36.4313(d)(1)(ix).
2 https://basc.pnnl.gov/images/termite-infestation-probability-map-adapted-2021-international-residential-code-irc-figure.
3 VA Lenders Handbook, Chapter 13, Topic 8.c.
4 38 U.S.C. § 3704(a), 38 C.F.R. § 36.4351.
Joel Lobb
Mortgage Loan Officer
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
fax: 502-327-9119
email: kentuckyloan@gmail.com
email: kentuckyloan@gmail.com
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 Metro Down Payment Assistance Program
Down Payment Assistance Program
Applications for this program will reopen on Monday, July 18.
The Louisville Metro Down Payment Assistance Program provides low- to moderate-income homebuyers with down payment and closing cost assistance for purchasing a home in the Louisville Metro area. Funds can be applied to the purchase of an existing or newly constructed home and are NOT limited to first-time homebuyers.
Down Payment Assistance is in the form of a partially forgivable loan with 0% interest. Homebuyers must occupy the purchased home as their primary residence for a period of 5 – 15 years, depending upon the amount of assistance received. By the end of that specified period, 50% of the loan shall be forgiven. The remaining balance is not due until the sale of that home. The maximum amount of assistance per homebuyer will be no more than 20% of the purchase price, but also based on the need the individual buyer. Section 8 Homeownership clients are encouraged to apply.
Goals of the Down Payment Assistance Program
- Encourage homeownership, throughout Louisville Metro, which is economical to low-moderate income consumers in order to assist in preventing future foreclosures.
- Encourage mixed-income neighborhoods and the de-concentration of poverty.
- Encourage homeownership in Metro’s Neighborhood Revitalization Strategy Area – Russell.
- Assist homebuyers in becoming informed consumers in order to successfully navigate real estate transactions and understand the responsibility of homeownership.
- Encourage reinvestment in Louisville Metro’s vacant and abandoned properties.
Eligibility
- Household income at or below 80% of the area median income.
| Persons in Household | 1 | 2 | 3 | 4 | 5 | 6 |
| 80% AMI | $47,450 | $54,200 | $61,000 | $67,750 | $73,200 | $78,600 |
- Homebuyer(s) already pre-approved for a mortgage from a local financial institution.
- Homebuyer(s) credit - no unpaid collections, past due balances or un-discharged bankruptcies. (Exception: Medical collections up to $10,000.00.)
- Homebuyer(s) has at least $1,500 in savings.
- Homes eligible for assistance must meet the Home Ownership Value Limits below.
Existing Homes
| 1-unit | 2-unit (duplex) | 3-unit (triplex) | 4-unit (fourplex) |
| $220,000 | $249,000 | $302,000 | $374,000 |
New Homes
| 1-unit | 2-unit (duplex) | 3-unit (triplex) | 4-unit (fourplex) |
| $257,000 | $329,000 | $399,000 | $494,000 |
How to Apply
- Complete homebuyer counseling (6-hr minimum) from a HUD-approved counseling agency. If applying with co-applicant, both must complete. Married couples must apply as co-applicants.
- Apply to the Down Payment Assistance Program by clicking the green button below. Please allow 30 days for Metro review and verification.
- Homebuyer(s) receives letter of eligibility, stating entrance or denial into Homebuyer Assistance Program.
- Homebuyer(s) engages Realtor to assist in home search.
- Upon an accepted sales contract, homebuyer(s) submits Home Purchase Packet, executed sales contract, and primary loan documents to Metro.
- Metro staff underwrites the loan and presents to the Case Review Board.
- Homebuyer(s) receives conditional commitment letter from Metro, stating the amount of assistance available to purchase that home.
- Metro Office of Housing inspector coordinates with Realtor. Home must receive a passing inspection in order to receive Metro assistance.
- Lender, Realtor, and Metro coordinate with the homebuyer to close on the home.
- To apply now, click here
LOUISVILLE, Ky. Low to moderate-income homebuyers in the Louisville Metro who are seeking assistance with down payments and closing costs can now apply for the city’s Down Payment Assistance Program.
Applications for the program reopened on July 18 for the purchase of an existing or newly constructed home, according to Louisville Metro Government.
A release states program funds are not limited to first-time homebuyers.
The funds will be used as a partially-forgivable loan with 0% interest, where homeowners will need to occupy their purchased home for a period of five to 15 years.
Following that period, 50% of the loan will be forgiven, and the rest of the balance will not be due until the sale of the home.
Officials said the Down Payment Assistance Program encourages home ownership in the Louisville Metro and assisting potential homebuyers in making real estate transactions to understand the responsibilities of homeownership.
The program is available to residents with a household income at or below 80% of the area median income, homebuyers who are already pre-approved for a mortgage and have no unpaid collections or past due balances on their credit.
For more information and how to apply, click or tap here.
Applicant Resources
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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