Kentucky Housing Corporation Products on FHA, VA, USDA for both Refinance and Purchase Transactions


Kentucky Housing Corporation Products on FHA, VA, USDA for both Refinance and Purchase Transactions!
Products Offered:  Conventional Financing with No MI

  • 97% Financing with No Mortgage Insurance/100% Financing with Down Payment Assistance
  • 680 Minimum Credit Score, Maximum Debt Ratio 45%
  • Down Payment can be Gifted

FHA/VA Purchase

  • 96.5% Financing/100% Financing with Down Payment Assistance
  • 640 Minimum Credit Score, Maximum Debt Ratio 45%
Property Eligibility
  • Purchase price limit: $243,000
  • Owner Occupied Transactions Only
  • One-unit, SFR (attached or detached), new or existing property located in Kentucky.
  • May own other real estate at closing except with Conventional No MI program
  • Borrower(s) must qualify with inclusion of the second home or investment property monthly payment.

Manufactured Housing

  • FHA Transactions Only, Doublewides Only
  • Affidavit of Conversion of Real Estate is required
  • An engineer’s certification report is required verifying the property meets the guidelines published in the Permanent Foundations Guide for manufactured housing.

Condominiumns

  • Condominium or PUD’s must follow agency guidelines
  • For FHA, condominium must be listed on HUD’s website as approved
  • For Conventional No MI, must be approved by Fannie Mae
  • KHC website has a condo list. This list must be used to determine if additional interior insurance coverage is required. This does not warrant that the condo is approved by HUD or Kentucky Housing. If condo is not listed, proof of whether the interior coverage is included in the master policy is required. If not, a separate interior policy equal to half of the total loan amount is required

 

Down Payment Assistance Program
Regular DAP
  • Income Limits must meet secondary market limits
  • Eligible on new and existing properties
  • Allowed up to $6,000. Must go maximum LTV allowed on first mortgage amount. The Conventional NO MI program can go to 95% LTV
  • Terms: 5.50% amortized over 10 years
Regular DAP
  • Income limits must meet Affordable Income Limits. Income limits for the Affordable DAP are determined off of Household Income
  • Eligible on new and existing properties
  • Allowed up to $4,500. Must go maximum LTV allowed on first mortgage amount. The Conventional No MI program can go to 95% LTV
  • Terms: 1% amortized over 10 years

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
 Company ID #1364 | MB73346

 

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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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