Kentucky First Time Home Buyer Loan Options

Joel Lobb: Empowering First-Time Home Buyers in Kentucky with FHA, VA, USDA, and KHC Loans

Joel Lobb: Empowering First-Time Home Buyers in Kentucky with FHA, VA, USDA, and KHC Loans

Introduction

Purchasing a home is a significant milestone in anyone’s life. For first-time home buyers, navigating the complex world of mortgages can be daunting. Thankfully, there are experts like Joel Lobb, a seasoned mortgage broker based in Louisville, Kentucky, who specializes in helping individuals achieve their dream of homeownership. With a wealth of experience and a commitment to personalized service, Joel has assisted countless Kentuckians in securing loans tailored to their unique needs.

The Man Behind the Mission

Joel Lobb has been a trusted figure in the mortgage industry for over 18 years. His passion lies in making the home buying process accessible and transparent for his clients. Whether you’re a young couple looking to buy your first house or a family seeking to refinance, Joel is there to guide you every step of the way.

The Loan Programs

1. FHA Loans

  • What are they? Federal Housing Administration (FHA) loans are government-backed mortgages that allow buyers to qualify with lower credit scores and smaller down payments.
  • How does Joel help? Joel assists first-time buyers in Kentucky by explaining the FHA loan process, ensuring they meet the requirements, and helping them secure favorable terms.

2. VA Loans

  • What are they? Veterans Affairs (VA) loans are designed for eligible veterans, active-duty service members, and surviving spouses. They offer competitive interest rates and require no down payment.
  • How does Joel help? Joel works closely with veterans and their families, ensuring they understand their VA loan options and providing personalized support throughout the application process.

3. USDA & Rural Housing Loans

  • What are they? United States Department of Agriculture (USDA) loans are aimed at rural homebuyers. They offer low-interest rates and require no down payment.
  • How does Joel help? Joel educates clients about USDA loans, helps them explore eligible properties, and assists with the application process.

4. KHC Loans

  • What are they? The Kentucky Housing Corporation (KHC) provides various loan programs, including down payment assistance for first-time buyers.
  • How does Joel help? Joel specializes in KHC loans, ensuring that Kentuckians have access to affordable financing options. He helps clients navigate the KHC application process and secure the best terms.

Success Stories

Joel’s dedication to his clients has resulted in numerous success stories:

  1. Angela Forsythe: Angela moved to Louisville from Ohio and found Joel’s website. His quick response, local market knowledge, and efficient loan approval process made her home buying experience seamless.

  2. Monica Leinhardt: Monica refinanced her mortgage with Joel in just 23 days, thanks to his expertise and commitment to delivering on promises.

Conclusion

Joel Lobb is more than a mortgage broker; he’s a trusted partner for those embarking on their homeownership journey. If you’re a first-time home buyer in Kentucky, reach out to Joel for expert guidance and personalized assistance. Your dream home awaits, and Joel Lobb is here to make it a reality.

For inquiries, contact Joel Lobb:

  • Phone: (502) 905-3708
  • Email: kentuckyloan@gmail.com
  • NMLS#: 57916

Remember, at Joel Lobb’s firm, you’re not just a number; you’re a valued individual on the path to homeownership! ๐Ÿก๐ŸŒŸ


Disclaimer: This article is for informational purposes only and does not constitute financial advice. Prospective home buyers should consult with a qualified mortgage professional before making any decisions12

Credit Scores Required for Kentucky Mortgage Loan Approvals for FHA, VA,...

Kentucky Mortgage Rates Today for 30 year fixed rate FHA, VA, USDA Mortgage Home Loans

Rates are subject to change without notice. Other fees, sometimes referred to as "Third-Party Fees", will also be required. Your Loan Officer can provide estimates. You will receive a Loan Estimate that provides details on the total cost of obtaining the loan program you select. The details provided in this Product Comparison are based on the information shown in the "Your Scenario" section. Payment amounts do not include escrow payments for homeowner's insurance or real estate taxes. An escrow account may be required. This Product Comparison does not constitute an offer to extend credit. Joel Lobb  Mortgage Loan OfficerAmerican Mortgage Solutions, Inc. 10602 Timberwood Circle Louisville, KY 40223 Company NMLS ID #1364 Text/call: 502-905-3708 fax: 502-327-9119 email: kentuckyloan@gmail.com http://www.mylouisvillekentuckymortgage.com/ NMLS 57916  | Company NMLS #1364/MB73346135166/MBR1574 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).

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Kentucky Fannie Mae or Freddie Mac $2500 in assistance toward the down payment and/or closing costs.

 

Kentucky Fannie Mae HomeReady and Freddie Mac Home Possible purchase borrowers may receive $2500 in assistance toward the down payment and/or closing costs.

Kentucky Fannie Mae HomeReady

Effective immediately, eligible Kentucky Fannie Mae HomeReady purchase borrowers may receive $2,500 assistance, if the loan meets certain requirements:

  • The loan must be underwritten in DU and receive an Approve/Eligible.
  • The borrower(s) must have qualifying income less than or equal to 50% of the area median income limit for the property’s location.
  • The full amount of the assistance must be applied directly to the borrower through the transaction and applied to down payment and/or closing costs.
  • The assistance can fulfill the 3% minimum contribution requirement for loans on single family properties or for loans on 2-4-unit properties with LTV ratios up to 80%.  

All other Fannie Mae and HomeReady program requirements apply. Loans must be delivered on or before 12/31/2024.

 

Freddie Mac Home Possible Kentucky $2500 Down payment Assistance 

Effective immediately, eligible Home Possible purchase loans may receive $2,500 in assistance if the loan meets certain requirements:

  • The loan must be underwritten in LPA and receive a Risk Class of Accept.
  • The borrower(s) must have qualifying income less than or equal to 50% of the area median income limit for the property’s location.
  • The full amount of the assistance must be applied directly to the borrower through the transaction and applied to down payment and/or closing costs.
  • The assistance may be used to offset the 3% minimum contribution requirement from borrower personal funds. 

All other Freddie Mac and Home Possible program requirements apply. Loans must be delivered on or before 12/31/2024.


Kentucky Fannie Mae HomeReady and Freddie Mac Home Possible purchase borrowers may receive $2500 in assistance toward the down payment and/or closing costs.