US Real Estate & Economy: Lower Loan Limits—Let the Games Begin – CNBC


US Real Estate & Economy: Lower Loan Limits—Let the Games Begin – CNBC.

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Vacancies, manufactured homes, unbanked population all contribute to Kentucky mortgage woes


Vacancies, manufactured homes, unbanked population all contribute to Kentucky mortgage woes.

Credit Fico Score for a Kentucky Mortgage FHA VA KHC


Credit Fico Score for a Kentucky Mortgage FHA VA KHC.

As a rule of thumb, however, a credit score below 640 will make buying a home very difficult. A FICO score below 640 is considered sub-prime. In the past there were mortgage companies that specialized in sub-prime mortgages. Because of the challenges in the credit market over the last year or so, however, sub-prime loans have become difficult if not impossible to obtain.

A FICO score between 620 and 650 is considered fair to good credit. But keep in mind, this range of credit scores does not guarantee you will qualify for a mortgage, and if you do qualify, it won’t get you the lowest interest rate possible. Still, to buy a home aim for a score of at least 640, recognizing that other factors weigh in the decision and that some banks may require a higher score.

Joel Lobb
Senior  Loan Officer

(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 

Current kentucky housing KHC interest rates


Interest Rates

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KHC Mortgage Interest Rates as of 06/20/2011, 9:00 a.m. ET

Rates subject to change without notice.

 

 

700+ Credit Score Mortgage Revenue Bond (MRB) Interest Rates     

 

 

 

 

Loan Type

Regular Rate

Zero-Point Rate

*Government Rates only

4.250%

4.625%

 

640+ Credit Score Mortgage Revenue Bond (MRB) Interest Rates 

  • KHC-funded down payment assistance may be utilized with these rates

 

 

 

Loan Type

Regular Rate

Zero-Point Rate

*Government Rates only

4.500%

4.875%

* Government includes FHA, RHS, and VA.

 

660+ Credit Score Mortgage Revenue Bond (MRB) Conventional Interest Rates     

 

 

Loan Type

Regular Rate

Zero-Point Rate

*Conventional Rates

4.250%

4.625%

  • Maximum LTV 80%**
  • No down payment assistance allowed – must be borrowers’ own funds or gift funds
  • AUS required

**At the present time, KHC is not offering a conventional product at 81% or greater LTV.