Kentucky USDA Mortgage Loans | Rural Housing Ky Loans


Kentucky USDA Mortgage Loans | Rural Housing Ky Loans

Kentucky Mortgage USDA Loan Requirements

What are the Kentucky USDA Mortgage Loan Requirements?
To decide if you qualify for an USDA Mortgage Loan, we will look at:

  • Your income and your monthly expenses. Standard debt-to-income ratios are 29/41 for USDA Loans. These ratios may be exceeded with compensation factors.
  • Your credit history (this is important, but USDA’s credit standards are flexible). A FICO score of 620 or above is required for all loans
  • Your overall pattern rather than to individual problems you may have had.

To be eligible for an Kentucky USDA Mortgage, your monthly housing costs (mortgage principal and interest, property taxes and insurance) must meet a specified percentage of your gross monthly income (29% ratio). Your credit background will be fairly considered. At least a 620 FICO credit score is required to obtain an USDA approval through Lending. You must also have enough income to pay your housing costs plus all additional monthly debt (41% ratio). These percentages may be exceeded with compensating factors. Applicants for loans may have an income of up to 115% of the median income for the area. Maximum USDA Loan income limits for your area can be found at below Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.

Can I get an USDA Mortgage Loan after bankruptcy?
Criteria for USDA loan approvals state that if you have been discharged from a Chapter 7 bankruptcy for three years or more, you are eligible to apply for an USDA mortgage. If you are in a Chapter 13 bankruptcy and have made all court approved payments on time and as agreed for at least one year, you are also eligible to make an Kentuck USDA Loan application

What are the USDA Down Payment Requirements? 
USDA Mortgages have no down payment requirement. Other loan programs don’t allow this.

What types of property are eligible?
While USDA Mortgage Guidelines do require that the property be Owner Occupied (OO), they do allow you to purchase condos, planned unit developments, manufactured homes, and single family residences.

What is the maximum amount that I can borrow?
The maximum amount for an Kentucky USDA Mortgage Loans are determined by:

Maximum loan amount: The is no set maximum loan amount allowed for an USDA Mortgage. Instead, your debt-to-income ratios will dictate how much home your can afford (29/41 ratios). Additionally, your total household monthly income must be within USDA allowed maximum income limits for your area. Maximum USDA Loan income limits for your area can be found at here.

Maximum financing: The maximum USDA Mortgage amount will be 100% of the appraised value of the home.

What kinds of loans does USDA offer?

Fixed rate loans – All Rural Housing and USDA loans are fixed-rate mortgages. In a fixed rate mortgage, your interest rate stays the same during the whole loan period, normally 30 years. The advantage of a fixed-rate mortgage is that you always know exactly how much your monthly payment will be, and you can plan for it.

What is Considered a Rural Area by the USDA?
Rural areas include open country and places with population of 10,000 or less and—under certain conditions—towns and cities. There is an automated rural area eligibility calculator at:http://eligibility.sc.egov.usda.gov.

Kentucky USDA Loans

What are USDA Home Loans?
USDA stands for United States Department of Agriculture. A USDA Mortgage provides a low-cost insured home mortgage loan that suits a variety of options. A USDA mortgage is likely the best home loan option if you want to purchase a home with no down payment. If you’re unsure about your credit rating, or have concerns about a down payment when you’re doing a home loan comparison,

What Types of Loans does USDA offer in Kentucky?
Currently, there are two kinds of USDA Homeo Loans available in Kentucky for single family households:

. USDA Guaranteed Rural Housing Loans
USDA Guaranteed Kentucky USDA Mortgage are the most common type of USDA loanin Kentucky and allow for higher income limits and 100% financing for home purchases. USDA Guaranteed Loan applicants may have an income of up to 115% of the median household income for the area. Area income limits for this program can be viewed here. All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.

. USDA Direct Rural Housing Loans
USDA Direct Housing Loans are less common than USDA Guaranteed Loans and are only available for low and very low income households to obtain homeownership, as defined by the USDA. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. Click here to see area income limits for this program.

What factors determine if I am eligible for a USDA Loan in Kentucky?
To be eligible for A USDA Kentucky USDA Mortgage Loans | Rural Housing Ky Loans in Kentucky, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income (29% ratio). Your credit background will be fairly considered. A 620 FICO credit score is required to obtain a USDA Kentucky USDA Mortgage Loans | Rural Housing Ky Loans approval . You must also have enough income to pay your housing costs plus all additional monthly debt (41% ratio). These ratios can be exceeded somewhat with compensating factors. Applicants for loans may have an income of up to 115% of the median income for the area. Maximum USDA Guaranteed Loan income limits for your area can be found at here. Maximum USDA Direct Loan income limits for your area can be found at here. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.

What is the maximum amount that I can borrow?
The maximum amount for an USDA home loan is determined by:

Maximum Loan Amount: The is no set maximum loan amount allowed for USDA Kentucky USDA Mortgage Loans | Rural Housing Ky Loans. Instead, your debt-to-income ratios will dictate how much home your can afford (29/41 ratios). Additionally, your total household monthly income must be within USDA allowed maximum income limits for your area. Maximum USDA Guaranteed Loan income limits for your area can be found at here.

Maximum financing: The maximum USDA Kentucky USDA Mortgageamount is 102% of the appraised value of the home (100% plus the 2% USDA Kentucky USDA Mortgage RD Loan guarantee fee).

How much money will I need for the down payment and closing costs?
USDA Kentucky USDA Mortgage Loans require no down payment and they allow for the closing costs to be included in the loan amount (appraisal permitting).

What property types are allowed for USDA Rural Loan Mortgages?
While USDA mortgage guidelines do require that the property be Owner Occupied (OO), they do allow you to purchase condos, planned unit developments, manufactured homes, and single family residences.
Additional offers from other lenders.

Kentucky USDA Loan Adjusted Maximum Income Limits by County\\\\\\\\\

Kentucky USDA Mortgage Loans | Rural Housing Ky Loans
Updated 05/01/2009

County Name
1-4 Person Households
(Guaranteed Loans)
5-8 Person Households
(Guaranteed Loans)
NON-METRO
ADAIR
$73,600
$97,150
NON-METRO
ALLEN
$73,600
$97,150
FRANKFORT, KY (MICRO)
ANDERSON
$73,600
$97,150
PADUCAH, KY-IL (MICRO)
BALLARD
$73,600
$97,150
GLASGOW, KY (MICRO)
BARREN
$73,600
$97,150
MOUNT STERLING, KY (MICRO)
BATH
$73,600
$97,150
MIDDLESBOROUGH, KY (MICRO)
BELL
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
BOONE
$73,600
$97,150
LEXINGTON-FAYETTE, KY (MSA)
BOURBON
$73,600
$97,150
HUNTINGTON-ASHLAND, WV-KY-OH (MSA)
BOYD
$73,600
$97,150
DANVILLE, KY (MICRO)
BOYLE
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
BRACKEN
$73,600
$97,150
NON-METRO
BREATHITT
$73,600
$97,150
NON-METRO
BRECKINRIDGE
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
BULLITT
$73,600
$97,150
NON-METRO
BUTLER
$73,600
$97,150
NON-METRO
CALDWELL
$73,600
$97,150
MURRAY, KY (MICRO)
CALLOWAY
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
CAMPBELL
$73,600
$97,150
NON-METRO
CARLISLE
$73,600
$97,150
NON-METRO
CARROLL
$73,600
$97,150
NON-METRO
CARTER
$73,600
$97,150
NON-METRO
CASEY
$73,600
$97,150
CLARKSVILLE, TN-KY (MSA)
CHRISTIAN
$73,600
$97,150
LEXINGTON-FAYETTE, KY (MSA)
CLARK
$73,600
$97,150
NON-METRO
CLAY
$73,600
$97,150
NON-METRO
CLINTON
$73,600
$97,150
NON-METRO
CRITTENDEN
$73,600
$97,150
NON-METRO
CUMBERLAND
$73,600
$97,150
OWENSBORO, KY (MSA)
DAVIESS
$73,600
$97,150
BOWLING GREEN, KY (MSA)
EDMONSON
$73,600
$97,150
NON-METRO
ELLIOTT
$73,600
$97,150
NON-METRO
ESTILL
$73,600
$97,150
LEXINGTON-FAYETTE, KY (MSA)
FAYETTE
$73,600
$97,150
NON-METRO
FLEMING
$73,600
$97,150
NON-METRO
FLOYD
$73,600
$97,150
FRANKFORT, KY (MICRO)
FRANKLIN
$73,600
$97,150
UNION CITY, TN-KY (MICRO)
FULTON
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
GALLATIN
$73,600
$97,150
NON-METRO
GARRARD
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
GRANT
$73,600
$97,150
MAYFIELD, KY (MICRO)
GRAVES
$73,600
$97,150
NON-METRO
GRAYSON
$73,600
$97,150
NON-METRO
GREEN
$73,600
$97,150
HUNTINGTON-ASHLAND, WV-KY-OH (MSA)
GREENUP
$73,600
$97,150
OWENSBORO, KY (MSA)
HANCOCK
$73,600
$97,150
ELIZABETHTOWN, KY (MSA)
HARDIN
$73,600
$97,150
NON-METRO
HARLAN
$73,600
$97,150
NON-METRO
HARRISON
$73,600
$97,150
NON-METRO
HART
$73,600
$97,150
EVANSVILLE, IN-KY (MSA)
HENDERSON
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
HENRY
$73,600
$97,150
NON-METRO
HICKMAN
$73,600
$97,150
MADISONVILLE, KY (MICRO)
HOPKINS
$73,600
$97,150
NON-METRO
JACKSON
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
JEFFERSON
$73,600
$97,150
LEXINGTON-FAYETTE, KY (MSA)
JESSAMINE
$73,600
$97,150
NON-METRO
JOHNSON
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
KENTON
$73,600
$97,150
NON-METRO
KNOTT
$73,600
$97,150
NON-METRO
KNOX
$73,600
$97,150
ELIZABETHTOWN, KY (MSA)
LARUE
$73,600
$97,150
LONDON, KY (MICRO)
LAUREL
$73,600
$97,150
NON-METRO
LAWRENCE
$73,600
$97,150
NON-METRO
LEE
$73,600
$97,150
NON-METRO
LESLIE
$73,600
$97,150
NON-METRO
LETCHER
$73,600
$97,150
MAYSVILLE, KY (MICRO)
LEWIS
$73,600
$97,150
DANVILLE, KY (MICRO)
LINCOLN
$73,600
$97,150
PADUCAH, KY-IL (MICRO)
LIVINGSTON
$73,600
$97,150
NON-METRO
LOGAN
$73,600
$97,150
NON-METRO
LYON
$73,600
$97,150
RICHMOND-BEREA, KY (MICRO)
MADISON
$73,600
$97,150
NON-METRO
MAGOFFIN
$73,600
$97,150
NON-METRO
MARION
$73,600
$97,150
NON-METRO
MARSHALL
$73,600
$97,150
NON-METRO
MARTIN
$73,600
$97,150
MAYSVILLE, KY (MICRO)
MASON
$73,600
$97,150
PADUCAH, KY-IL (MICRO)
MCCRACKEN
$73,600
$97,150
NON-METRO
MCCREARY
$73,600
$97,150
OWENSBORO, KY (MSA)
MCLEAN
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
MEADE
$73,600
$97,150
MOUNT STERLING, KY (MICRO)
MENIFEE
$73,600
$97,150
NON-METRO
MERCER
$73,600
$97,150
GLASGOW, KY (MICRO)
METCALFE
$73,600
$97,150
NON-METRO
MONROE
$73,600
$97,150
MOUNT STERLING, KY (MICRO)
MONTGOMERY
$73,600
$97,150
NON-METRO
MORGAN
$73,600
$97,150
CENTRAL CITY, KY (MICRO)
MUHLENBERG
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
NELSON
$73,600
$97,150
NON-METRO
NICHOLAS
$73,600
$97,150
NON-METRO
OHIO
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
OLDHAM
$73,600
$97,150
NON-METRO
OWEN
$73,600
$97,150
NON-METRO
OWSLEY
$73,600
$97,150
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
PENDLETON
$73,600
$97,150
NON-METRO
PERRY
$73,600
$97,150
NON-METRO
PIKE
$73,600
$97,150
NON-METRO
POWELL
$73,600
$97,150
SOMERSET, KY (MICRO)
PULASKI
$73,600
$97,150
NON-METRO
ROBERTSON
$73,600
$97,150
RICHMOND-BEREA, KY (MICRO)
ROCKCASTLE
$73,600
$97,150
NON-METRO
ROWAN
$73,600
$97,150
NON-METRO
RUSSELL
$73,600
$97,150
LEXINGTON-FAYETTE, KY (MSA)
SCOTT
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
SHELBY
$73,600
$97,150
NON-METRO
SIMPSON
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
SPENCER
$73,600
$97,150
CAMPBELLSVILLE, KY (MICRO)
TAYLOR
$73,600
$97,150
NON-METRO
TODD
$73,600
$97,150
CLARKSVILLE, TN-KY (MSA)
TRIGG
$73,600
$97,150
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
TRIMBLE
$73,600
$97,150
NON-METRO
UNION
$73,600
$97,150
BOWLING GREEN, KY (MSA)
WARREN
$73,600
$97,150
NON-METRO
WASHINGTON
$73,600
$97,150
NON-METRO
WAYNE
$73,600
$97,150
EVANSVILLE, IN-KY (MSA)
WEBSTER
$73,600
$97,150
CORBIN, KY (MICRO)
WHITLEY
$73,600
$97,150
NON-METRO
WOLFE
$73,600
$97,150
LEXINGTON-FAYETTE, KY (MSA)
WOODFORD
$73,600
$97,150

Why choose a USDA Mortgage?

  • The loans  require no down payment.
  • There are no prepayment penalties for USDA Kentucky USDA Mortgage Rural Home Loans
  • A USDA Kentucky USDA Mortgage Rural Housing has no monthly mortgage insurance.
  • A USDA Kentucky USDA Mortgage Rural Housing is available all rural areas of the country, provided a market exists for the property and the home meets HUD’s minimum property standards.
  • A USDA Kentucky USDA Mortgage Rural Housing Loan can be used to purchase a new or existing one family home in rural areas.
  • USDA RD LOANS are offered at terms of 30 years with a fixed interest rate.

USDA Loan FAQ’s

Kentucky USDA Mortgage Loans | Rural Housing Ky Loans

What is the Maximum LTV for a USDA Loan?
The maximum USDA rural loan  LTV can be up to 100% LTV plus the Agency guarantee fee.

Can Closing Costs be Financed into the Loan?
Yes, any difference between the contract price and the appraisal value can be used to finance normal closing costs for a Kentucky USDA Mortgage

What is a USDA Loan Guarantee?
USDA Rural Development Single Family Housing Program serves as a safety net for mortgage lenders. The USDA provides the full faith and assurance of the U.S. government that any financial loss resulting from servicing the loan will be reimbursed in full up to an amount not exceeding 90% of the original loan amount. All loss up to an amount not exceeding 35% of the original loan is fully reimbursed. Any loss amount exceeding the 35% is 85% reimbursed. This leaves the lender only 15% exposed on the loss amount above the 35% of original loan. In the majority of cases, the total loss does not exceed 35% of the original loan and the lenders are fully reimbursed. This guarantee provides lenders an expanded level of protection against losses. The quality of this guarantee allows lenders to easily sell the loans on the secondary market.

Kentucky USDA Mortgage Loans | Rural Housing Ky Loans

Louisville Kentucky USDA Loans               Lexington Kentucky USDA Loans               Fayette Kentucky USDA Loans

Owensboro Kentucky USDA Loans           Bowling Green Kentucky USDA Loans     Florence Kentucky USDA Loans

Paducah Kentucky USDA Loans Richmond Kentucky USDA Loans              Elizabethtown Kentucky USDA Loans


First Time Home Buyers Louisville, KY


Buying Your First Home in Louisville KY

Kentucky Housing Corporation down payment assistance to $4000
Buying your first home is an exciting time. Looking through all the properties on line, picking those you want to see and touring all the homes to find just the right place can be a great experience. But, if you have never bought a home before, there are a few things you will need to do to be prepared for the adventure of buying your first home.

What is the first Step?

Most important, before you do anything else, get pre approved for your mortgage. You want to make sure before you get excited about a specific house, just how much it is going to cost you to buy a home. You want to make sure your expectations and pocket book are on the same page. Avoid falling in love with a house and find out too late it is out of the price range. Not only will you need to know how much you will qualify for to find out your monthly payment, you will need to have a solid idea of how much it will cost up front to purchase your house. How much of a down payment will be required and how much closings costs (costs associated with getting the loan) and prepaid expenses (setting up escrows for taxes and insurance) are going to be will help you tighten up your search before you get started. 

There are several reputable banks and mortgage companies in town. It is encouraged to get quotes from several to make sure you are getting the best deal.

Don’t forget First Time Home Buyers Seminar

I will be holding First Time Home Buyers’ Seminars over the next several months. Let me know if you are intersted and we will get you signed up.

Call us today for a free preappoval 502-905-3708

How Much Money Will I Need?

This is a question I get a lot from first time home buyers in the Louisville, KY area. This might seem like a silly answer, but you will need all of it and then some. You need to come up with the entire purchase price plus, good faith money, closing costs, prepaid expenses and cost of inspections. 

Here is the Breakdown. Of course you will not have to save up every penny of the purchase price, but not a bad idea. The majority of the the purchase price typically comes from you mortgage. But here are some initial amounts you will need.

1. Good Faith Desposit- $500-$2500. This is given to the seller’s real estate broker at the time of your offer. If the offer is accepted, the Broker will deposit the check in their escrow account and hold it hostage until closing where you will be credited that amount toward down payments and closing costs. This puts a little skin in the game for the buyer, so they just don’twalk away from the deal for reasons not stipulated in the contract.

2. Down Payment- You may be looking at anywhere from 3.5%-20% of the purchase price for the down payment. The days of the 100% loans are but a distant memory, so start rolling those coins. FHA loans only requre 3.5% down and are the lowest down payment option for most folks.

3. Closing Costs and Pre Paid Expenses-here you are looking at about 3%-4% of the purchase price for closing costs (costs associated with getting the loan) and Pre-paid expenses (such as insurance, escrows for taxes and insurance if required).

4. Don’t forget about inspections-they are not always a required part of the purchase process, but I highly, highly without question, even on new construction encourage all buyers to have at least a Home Inspection and Wood Destroying Insect Inspection when they are buying a house. In Louisville, KY and the surrounding areas you should be able to get a home inspection done for $250-500, depending on the size of the house and $40-$50 for the “termite” inspection. These are usually paid to the service providers at the time of the inspections. Not at closing, so you will need to be prepared to scratch these checks, plus your Good Faith Deposit pretty soon after getting under contract, so at the very least, near that $1000 mark to get started.

The best way to get an accurate estimate of how much money you will need to get in to a house is to get pre-qualified with a mortgage professional and get a god faith estimate that breaks down the expenses and what your down payment will look like.

Let’s Start Looking at Houses

Now for the fun part. Once you have your pre approval in hand, know what your budget is and your target price range you can get down tobusiness. Now you can determine what you want in your first home.
Are you looking for a single family home or condo? How many bedrooms and baths? Do you want a basement? Is a garage or covered parking important? What part of town best meets your needs? And the list can go on and on. Now, unless budget and price does not matter to you might want to prioritize what you need in a house. You may be able to find everything, but you may also have to compromise a bit on a few things to hit your budget.
First Time Home Buyer Loans for Kentucky Home buyers

Kentucky Housing KHC Credit Standards and Guidelines


KHC Credit Standards as of October 2010

Credit Standards
Insuring agency credit standards for the loan type the borrower
receives.
 Minimum credit score required for FHA, VA, and RHS: 620.
Minimum score for conventional: 660.
 FHA, VA, and Conventional loans: AUS approval required;
follow findings with maximum debt ratios of 40/45.
 RHS loans: maximum debt ratios of 29/41 for manual
underwriting; with GUS approval 40/45 and follow findings.
 Collections: for FHA, VA and Conventional loans, AUSapproved
findings to be followed. For RHS loans, follow agency
guidelines and/or GUS findings.
Bankruptcies must be discharged for 2-7 years, according to

Kentucky Housing KHC Credit Standards and Guidelines

FHA KHC Mortgage Guidelines

 Minimum 620 credit score required.
Financing to 96.50% of lesser of sales price or appraised value.
 All KHC DAPs and other KHC-approved secondary financing may be used.
 Maximum 6% seller-paid items.
 Maximum ratios of 40/45 with AUS approval.

agency guidelines and AUS findings.
Foreclosures must be discharged for a minimum 2-7 years
according to agency guidelines and AUS findings.
 For most loan types, non-taxable income can be grossed-up by
15%. Must follow insuring agency guidelines.

Rural Housing Services (RHS)

 Minimum 620 credit score required.
 Financing to 100% of the appraised value, plus guarantee fee of 3.5%.
 All KHC DAP programs and other KHC-approved secondary financing may be used.
 No maximum on seller-paid items.
 Ratio requirements and guarantee fee per agency guidelines.
 KHC will accept Government Underwriting System (GUS) findings, including reduced documentation and, with approval, expanded
ratios up to 40/45.

Veteran’s Administration (VA)

 Minimum 620 credit score required.
 Ratios up to 40/45% with AUS Approval.
 Financing to 100% of the lesser of the appraised value or sale price.
 All KHC DAP programs and other KHC-approved secondary financing may be used.
 Maximum 4% seller-paid items.
 Follow agency guidelines for ratio requirements and funding fee.
Mortgage Revenue

Louisville Ky Mortgage Lender FHA VA KHC Kentucky Mortgage: Louisville FHA and VA Home Loans


Louisville Ky Mortgage Lender FHA VA KHC Kentucky Mortgage: Louisville FHA and VA Home Loans.

Louisville Ky Mortgage Lender FHA VA KHC Kentucky Mortgage: Louisville FHA and VA Home Loans


Louisville FHA and VA Home Loans


Louisville FHA and Louisville VA home loans. Louisville FHA home loans can help Louisville borrowers obtain a Louisville mortgage more easily. Louisville VA home loans can help Louisville Veterans secure Louisville home loans to purchase their dream home. Contact for help with your Louisville FHA and VA home loans.

1 hour preapproval and 21 day closings– call toay for your free application  an credit report
502-905-3708
Key Financial Mortgage
107 South Hurstbourne Parkway
Louisville Ky 40222

Kentucky Housing Mortgage Rates—Kentucky
Louisville Kentucky Mortgage | August 18, 2010 at 8:05 pm
Interest Rates.
700+ Credit Score Mortgage Revenue Bond (MRB) Interest Rates
• KHC-funded down payment assistance not available with these rates
Loan Type
Regular Rate
*Government Rates only
3.500%
620+ Credit Score Mortgage Revenue Bond (MRB) Interest Rates
• KHC-funded down payment assistance may be utilized with these rates
Loan Type
Regular Rate
*Government Rates only
3.875%
* Government includes FHA, RHS, and VA.

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Joel Lobb
Senior Mortgage Loan Officer

Key Financial Mortgage
107 S. Hurtsbourne Parkway
Louisville Ky 40222

ph# 502-905-3708
fax# 502-895-2266

jlobb@keyfinllc.com

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FHA Mortgage Kentucky Buying your First Home Louisville Kentucky


FHA Mortgage Kentucky Buying your First Home Louisville Kentucky.

Louisville, Ky Mortgage Lenders: For a Quick Easy Loan Approval:Have These Items Re…


Louisville, Ky Mortgage Lenders: For a Quick Easy Loan Approval:Have These Items Ready

Employment

____ Name and address of employers for the past two years
____ Copy of pay stubs for the previous 30 days
____ Copy of last two years w-2 forms
        (if commissioned or paid by 1099, copy of last two years complete tax returns)
 

Self-employed

____ Copy of last two years tax returns (personal and corporate);
        year to date P&L and Balance Sheet through the most recent quarter
 

Liabilities

____ Name and account numbers for all revolving and installment accounts
____ Name and account number for all mortgage loans for the previous two years
____ Name and address for landlords for the previous two years
 

Assets

____ Name, address, and account number for all bank accounts
____ Name, address, and account numbers for all brokerage accounts
____ Copies of statements covering last 3 months on asset accounts
____ Copy of most recent statement for 401K, Savings Plan, etc.
 
 

Miscellaneous

____ Copy of driver’s license and social security card
____ Copy of fully executed divorce decree if applicable
____ Copy of signed earnest money contract
____ Copy of lease agreements on rental properties
____ Veterans! Copy of DD 214 and Eligibility Cert. if you have it
____ Check for the cost of your credit report and appraisal