Kentucky FHA Loan Qualifying Summary


Kentucky FHA Loan Qualifying Summary

 

Kentukcy FHA Loan Qualifying Summary
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Kentucky FHA loans are the easiest type of real estate mortgage loan to qualify for. The FHA loan requirement guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment.

Basic Kentucky FHA loan requirements.

  • Two Years of steady employment,
  • Last two years Income should be the same or increasing.
  • Credit report should typically have less than two thirty day lates in last two years with a minimum credit score of 580 or higher or in some cases no credit score at all.
  • Bankruptcy’s must be at least two years old, with perfect credit since discharge.
  • Foreclosure’s must be at least three years old, with perfect credit since.
  • Your new mortgage payment should be approximately 30% of your gross (before taxes)  income.

These are some of the most basic of Kentucky FHA loan requirements  for qualifying for a Kentucky FHA loan.  If   you have answered yes to most of these statements, you probably qualify for a FHA mortgage loan.

Get prequalified for a FHA loan >> Here – or-  Apply now for a FHA loan >> Here.

If you are unsure about your credit score or credit report, you can get a free credit score and view your credit report online instantly.

Following are some hyperlinks to some more detailed descriptions of Kentucky FHA guidelines for qualifying for a Kentucky FHA loan. Please click on the item that you require additional information on FHA requirements.

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Author: Louisville Kentucky Mortgage

I have helped over 589 Kentucky families buy or refinance their home over the last 18 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. Give us a try or let us compare your options on your next mortgage transaction. Call me locally at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at kentuckyloan@gmail.com with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance. This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. NMLS# 57916 http://www.nmlsconsumeraccess.org/ Joel Lobb Senior Loan Officer (NMLS#57916) American Mortgage Solutions, Inc. 800 Stone Creek Pkwy, Ste 7, Louisville, KY 40223 phone: (502) 905-3708 Fax: (502) 327-9119 kentuckyloan@gmail.com Company ID #1364 | MB73346 http://mylouisvillekentuckymortgage.com Equal Housing Lender

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