Many mortgage applicants will get a surprise boost in their credit scores


Kentucky Waiting times for a Mortgage loan Pre-Approval After A Bankruptcy and Foreclosure or Short Sale
Bankruptcy, Foreclosures, and Short Sale and how they affect your mortgage loan approval for a Conventional Loan, FHA Loan, USDA Loan, and VA loan.

 

In a little-known policy shift, the three national credit bureaus — Equifax, Experian and TransUnion — plan to stop collecting and reporting substantial amounts of civil judgment and tax lien information on public records affecting millions of American consumers starting July 1.

 

 

Both types of information have negative impacts on credit scores and remain in credit files for extended periods. Tax liens are levied against properties when the owner is delinquent on payment of taxes. Civil judgments — debts owed by the losing party in legal disputes that typically involve monetary damages — are ordered by courts.

With the elimination of this information from vast numbers of consumer credit files, some lenders are concerned that when they order credit reports to evaluate an applicant, they may no longer get the full picture of the risk of nonpayment posed by the consumer.

 

 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916 http://www.nmlsconsumeraccess.org/
 
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

 

Source: Many mortgage applicants will get a surprise boost in their credit scores

Credit Scores Needed To Qualify For A Kentucky Mortgage Loan Approval?


 

 

Credit Scores Needed To Qualify For A Kentucky Mortgage Loan Approval
Credit Scores Needed To Qualify For A Kentucky Mortgage Loan Approval

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Credit Scores Needed To Qualify For A Kentucky Mortgage Loan Approval

Source: Credit Scores Needed To Qualify For A Kentucky Mortgage Loan Approval?

The difference between a front-end and a back-end debt-to-income ratio for a Kentucky Mortgage Loan FHA, VA, KHC, USDA, Fannie Mae


The difference between a front-end and a back-end debt-to-income ratio for a Kentucky Mortgage Loan FHA, VA, KHC, USDA, Fannie Mae You should know what you can afford before beginning your search f…

Source: The difference between a front-end and a back-end debt-to-income ratio for a Kentucky Mortgage Loan FHA, VA, KHC, USDA, Fannie Mae

Bank Statement Basics for A Kentucky Mortgage Loan Approval for USDA, KHC, FHA, VA, Fannie Mae and Rural Housing Mortgage Loans


Assets: Assets are not required; however, any assets disclosed must be supported with appropriate documentation Satisfactory explanation and documentation should be provided for large deposi…

Source: Bank Statement Basics for A Kentucky Mortgage Loan Approval for USDA, KHC, FHA, VA, Fannie Mae and Rural Housing Mortgage Loans

8 New Fannie Mae Homes in Kentucky


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$77,900Just Listed

250 Commerce St
Hardin, KY 42048

4 Beds |2 Baths | 2210 sq. ft.

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$37,500Back on Market

1618 Parkside Dr
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2 Beds |2 Baths | 1147 sq. ft.

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$119,000Active

120 Ridgemont Rd
Paducah, KY 42003

3 Beds |3 Baths | 2429 sq. ft.

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3 Beds |2 Baths | 1284 sq. ft.

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Louisville, KY 40211

3 Beds |1 Baths | 1199 sq. ft.

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3 Beds |1 Baths | 1511 sq. ft.

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10520 Pinoak View Dr
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3 Beds |2 Baths | 1402 sq. ft.

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Kentucky First Time Home Buyer Mortgage Loans: Four things to know about…:

 

$10,000 DOWN PAYMENT ASSISTANCE GRANT FOR LOUISVILLE KENTUCKY HOME BUYERS BEGINNING SEPTEMBER 1ST 2016


Get Ready Louisville Kentucky First Time Home Buyers. KHC is offer $4 million in funding available with new reservations on or after Thursday, September 1, 2016. This will go super fast so I…

Source: $10,000 DOWN PAYMENT ASSISTANCE GRANT FOR LOUISVILLE KENTUCKY HOME BUYERS BEGINNING SEPTEMBER 1ST 2016

Zero Down Mortgages In Kentucky ? Yes, With The Kentucky Rural HousingUSDA Home Loan


Zero Down Mortgage?  Yes, With The USDA Home Loan As a loan originator, I get lots of questions from home buyers and Realtors about 100% financing. After the recent home mortgage meltdown crisis, n…

Source: Zero Down Mortgage? Yes, With The USDA Home Loan

August 11, 2016

Funding is Available for your SFH Guaranteed Applications!

As we enter the last two months of Fiscal Year (FY) 2016, Rural Development is pleased to announce that USDA has more than $10 billion available to guarantee no-down payment loans for your rural customers through our Single Family Housing Guaranteed Program. 

Today’s low interest rate environment, coupled with new program features such as the single-close construction loan and the streamlined-assist refinance option, makes this a great opportunity for rural Americans!  Please visit our SFH Guarantee website or contact a Guaranteed Loan Specialist for more information!

Thank you for your support of the Single Family Housing Guaranteed Loan Program!  We are proud to partner with you to serve the rural homebuyers of America.