Tag: KY VA MORTGAGE

Kentucky Homebuyers Down Payment Grants for 2019


PRMI_Dreammakerdec 16Kentucky First Time Home Buyer Loans for 2019$6000 Kentucky housing grant for 2019 first time home buyersa8a1e-unnamed2B2528152529via Kentucky Homebuyers Down Payment Grants for 2019

Here are action steps you can take right now to buy a home in Kentucky in 2019

1. Focus on your credit score

FICO credit scores are among the most frequently used credit scores, and range from 350-800 (the higher, the better). A consumer with a credit score of 750 or higher is considered to have excellent credit, while a consumer with a credit score below 620 is considered to have poor credit.

To qualify for a mortgage and get a low mortgage rate, your credit score matters.

Each credit bureau collects information on your credit history and develops a credit score that lenders use to assess your riskiness as a borrower. If you find an error, you should report it to the credit bureau immediately so that it can be corrected.

2. Manage your debt-to-income ratio

Many lenders evaluate your debt-to-income ratio when making credit decisions, which could impact the interest rate you receive.

A debt-to-income ratio is your monthly debt payments as a percentage of your monthly income. Lenders focus on this ratio to determine whether you have enough excess cash to cover your living expenses plus your debt obligations.

Since a debt-to-income ratio has two components (debt and income), the best way to lower your debt-to-income ratio is to:

First Ratio – The first ratio, top ratio or housing ratio. Basically that means out of all the gross monthly income you make, that no more that X percent of it can go to your housing payment. The housing payment consists of Principle, Interest, Taxes and Insurance. Whether you escrow or not every one of these items are factored into your ratio. There are a lot of exceptions to how high you can go, but let’s just say that if your ratio is 33% or less, generally, across the board, you’re safe.

Second Ratio- The second ratio, bottom ratio or debt ratio includes the housing payment, but also adds all of the monthly debts that the borrower has. So, it includes housing payment as well as every other debt that a borrower may have. This would include, Auto loans, credit cards, student loans, personal loans, child support, alimony….basically any consistent outgoing debt that you’re paying on. Again, if you’re paying less than 45% of your gross monthly income to all of the debts, plus your proposed housing payment, then……generally, you’re safe. You can go a lot higher in this area, but there are a lot of caveats when increasing your back ratio.

3. Keep credit utilization low on your credit cards

Lenders also evaluate your credit card utilization, or your monthly credit card spending as a percentage of your credit limit.

Ideally, your credit utilization should be less than 30%. If you can keep it less than 10%, even better.

For example, if you have a $10,000 credit limit on your credit card and spent $3,000 this month, your credit utilization is 30%.

Here are some ways to manage your credit card utilization:

  • set up automatic balance alerts to monitor credit utilization
  • ask your lender to raise your credit limit (this may involve a hard credit pull so check with your lender first)
  • pay off your balance multiple times a month to reduce your credit utilization

4 . Look for down payment assistance in Kentucky

There are various types of down payment assistance, even if you have student loans.

Here are a few:

  • FHA loans – federal loan through the Federal Housing Authority
  • USDA loans – zero down mortgages for rural and suburban homeowners
  • VA loans – if military service
  • Kentucky Housing Down Payment Assistance of $6000

There are federal, state and local assistance programs as well so be on the look out.

If you want a personalized answer for your unique situation call, text, or email me or visit my website below:

Joel Lobb
Mortgage Loan Officer

Individual NMLS ID #57916

American Mortgage Solutions, Inc.
10602 Timberwood Circle 
Louisville, KY 40223
Company NMLS ID #1364

Text/call: 502-905-3708

email: kentuckyloan@gmail.com

https://kentuckyloan.blogspot.com/

Kentucky VA Loans for Kentucky First-Time Home Buyers


via Kentucky VA Loans for Kentucky First-Time Home Buyers

Kentucky VA Homes for Sale- Kentucky VA Assumable Mortgages


via Kentucky VA Homes for Sale- Kentucky VA Assumable Mortgages

10412 KNIFLEY RD , KNIFLEY KY 42753
$69,500
Beds / Baths
4.00 / 2.50
Year Built
1970
Square Feet
1600
MLS
32049
Lot Size
 1-2 ac
Listing Date
8/14/2018
280 RUSSELL CAVE RD , GEORGETOWN KY 40324
$85,950
Beds / Baths
3.00 / 1.00
Year Built
1950
Square Feet
1552
MLS
18189723
Lot Size
 0.25-0.50 ac
Listing Date
8/23/2018
16 GLENN ST , FLORENCE KY 41042
$120,000
Beds / Baths
3.00 / 2.00
Year Built
1962
Square Feet
1873
MLS
518289
Lot Size
 0-0.25 ac
Listing Date
8/24/2018
2719 SHAMU DR , HEBRON KY 41048
$109,500
Beds / Baths
3.00 / 2.00
Year Built
2002
Square Feet
1500
MLS
519915
Lot Size
 0-0.25 ac
Listing Date
8/27/2018
268 ALLBURN HOLW , MC CARR KY 41544
$19,500
Beds / Baths
4.00 / 2.00
Year Built
1970
Square Feet
1900
MLS
110800
Lot Size
 0-0.25 ac
Listing Date
8/28/2018
1755 HIGHWAY 1161 , WEST LIBERTY KY 41472
$75,000
Beds / Baths
3.00 / 2.00
Year Built
1950
Square Feet
1196
MLS
111010
Lot Size
 0.50-1 ac
Listing Date
8/29/2018
107 NAPLES CT , RADCLIFF KY 40160
$119,500
Beds / Baths
3.00 / 2.00
Year Built
2007
Square Feet
1713
MLS
10045216
Lot Size
 0.25-0.50 ac
Listing Date
8/31/2018
125 ANSPAUGH AVE , BELLEVUE KY 41073
$69,000
Beds / Baths
3.00 / 1.00
Year Built
1928
Square Feet
605
MLS
519900
Lot Size
 0.25-0.50 ac
Listing Date
9/7/2018
131 CALLOWAY LN , HARDIN KY 42048
$129,900
Beds / Baths
4.00 / 3.50
Year Built
2001
Square Feet
3652
MLS
98350
Lot Size
 1-2 ac
Listing Date
9/7/2018
Showing 1 to 10 of 16 property(s).Showing 1 to 10 of 16 property(s).
 
1755 HIGHWAY 1161 , WEST LIBERTY KY 41472
$75,000
Beds / Baths
3.00 / 2.00
Year Built
1950
Square Feet
1196
MLS
111010
Lot Size
 0.50-1 ac
Listing Date
8/29/2018
268 ALLBURN HOLW , MC CARR KY 41544
$19,500
Beds / Baths
4.00 / 2.00
Year Built
1970
Square Feet
1900
MLS
110800
Lot Size
 0-0.25 ac
Listing Date
8/28/2018
2719 SHAMU DR , HEBRON KY 41048
$109,500
Beds / Baths
3.00 / 2.00
Year Built
2002
Square Feet
1500
MLS
519915
Lot Size
 0-0.25 ac
Listing Date
8/27/2018
16 GLENN ST , FLORENCE KY 41042
$120,000
Beds / Baths
3.00 / 2.00
Year Built
1962
Square Feet
1873
MLS
518289
Lot Size
 0-0.25 ac
Listing Date
8/24/2018
280 RUSSELL CAVE RD , GEORGETOWN KY 40324
$85,950
Beds / Baths
3.00 / 1.00
Year Built
1950
Square Feet
1552
MLS
18189723
Lot Size
 0.25-0.50 ac
Listing Date
8/23/2018
10412 KNIFLEY RD , KNIFLEY KY 42753
$69,500
Beds / Baths
4.00 / 2.50
Year Built
1970
Square Feet
1600
MLS
32049
Lot Size
 1-2 ac
Listing Date
8/14/2018
Showing 11 to 16 of 16 property(s).Showing 11 to 16 of 16 property(s).

Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial.


via Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial.

Compensating Factors to over turn a Kentucky VA Loan Mortgage Denial

Compensating factors may affect the loan decision for a Kentucky VA Mortgage.  These factors are especially important when reviewing loans which are marginal with respect to residual income or debt-to-income ratio.  They cannot be used to compensate for unsatisfactory credit.
Valid compensating factors to over turn a Kentucky VA Mortgage loandenial should represent unusual strengths rather than mere satisfaction of basic program requirements.  For example, the fact that an applicant has sufficient assets for closing purposes, or meets the residual income guideline, is not a compensating factor.
Valid compensating factors should logically be able to compensate (to some extent) for the identified weakness in the loan.  For example, significant liquid assets may compensate for a residual income shortfall whereas long-term employment would not.

Compensating factors include, but are not limited to the following:

 

·   excellent credit history,

·   conservative use of consumer credit,

·   minimal consumer debt,

·   long-term employment,

·   significant liquid assets,

·   sizable downpayment,

·   the existence of equity in refinancing loans,

·   little or no increase in shelter expense,

·   military benefits,

·   satisfactory homeownership experience,

·   high residual income,

·   low debt-to-income ratio,

·   tax credits for child care, and

·   tax benefits of home ownership.

If you looking to get approved for a Kentucky VA Mortgage, give us a call today. We can go down to 640 credit scores for VA loans in Kentucky, and the maximum debt to income ratio on some cases can go as high as 50% with the above compensating factors.

Kentucky VA Loan Guidelines


via Kentucky VA Loan Guidelines

Kentucky VA Loan Guidelines

Exception Maximum Loan

IRRRLs

  • Existing VA loan balance, plus
  • The cost of any energy efficiency improvements up to $6,000, plus
  • Allowable fees and charges, plus
  • Up to two discount points, plus
  • VA funding fee.

(Lenders must use VA Form 268923, IRRRL Worksheet, for the actual calculation.)

a. Does VA have Maximum Loan Amounts?
Unlike other home loanprograms, there are no maximum dollar amounts prescribed for VA-guaranteed loans. Limitations on VA loansize are primarily attributable to two factors:1.   Lenders who sell their VA loans in the secondary market must limit the size of those loans to the maximums prescribed by Government National Mortgage Association (GNMA) or whatever conduit they use to sell the loans.2.   VA limits the amount of the loan to the reasonable value of the property shown on the NOV plus the cost of energy efficiency improvements up to $6,000 plus the VA funding fee, with the following exceptions.

Continued on next page

3.  Maximum Loan, Continued

a. Does VA have Maximum Loan Amounts? (continued)
Exception Maximum Loan
Regular refinancing loan (cash-out)
  • 100 percent of the VA reasonable value, plus
  • the cost of any energy efficiency improvements up to $6,000, plus
  • VA funding fee.
Loans to refinance are:

the veteran at an

interest rate higher

than that for the

proposed refinancing

loan.

The lesser of:

  • the VA reasonable value, or
  • the sum of the outstanding balance of the loan plus allowable closing costs and discounts, plus
  • (For construction loans, “balance of the loan” includes the balances of construction financing and lot liens, if any.)
  • the cost of any energy efficiency improvements up to $6,000, plus
  • VA funding fee.
Graduated Payment Mortgage (GPM) loan on existing property
  • The VA reasonable value, minus
  • the highest amount of negative amortization, plus
  • the cost of any energy efficiency improvements up to $6,000, plus
  • VA funding fee.

Reference:  See section 7 of chapter 7.

GPM loan on new home 97.5 percent lesser of:

  • the VA reasonable value or
  • the purchase price, plus
  • the cost of any energy efficiency improvements up to $6,000, plus
  • VA funding fee.

Reference:  See section 7 of chapter 7.

Continued on next page

3.  Maximum Loan, Continued

b. Downpayment
Because VA loans can be for the full reasonable value of the property, no downpayment is required by VA except in the following circumstances:

  • If the purchase price exceeds the reasonable value of the property, a downpayment in the amount of the difference must be made in cash from the borrower’s own resources, and
  • VA requires a downpayment on all GPMs.

If a veteran has less than full entitlement available, a lender may require a downpayment in order to make the veteran a loan that meets GNMA or other secondary market requirements.  The “rule of thumb” for GNMA is that the VA guaranty, or a combination of VA guaranty plus downpayment and/or equity, must cover at least 25 percent of the loan.

4.  Maximum Guaranty on VA Loans

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
  • Subsection a has been updated to reflect the temporary increase in maximum potential guaranty for loans closed January 1, 2009, through December 31, 2011.
a. Maximum Guaranty Table
Public Law 110-389, the Veterans’ Benefits Improvement Act of 2008, signed October 10, 2008, provided a temporary increase in the maximum guaranty for loans closed January 1, 2009 through December 31, 2011.  The maximum guaranty now varies depending on the location of the property.  While VA does not have a maximum loan amount, there are effective “loan limits” for high-cost counties.  The limits are derived by considering both the median home price for a county and the Freddie Mac conforming loan limit.  To aid lenders in determining the maximum guaranty in high-cost counties, VA has created a Loan Limitchart, with instructions.  This will be updated yearly.

  • In general, maximum guaranty, assuming the veteran has full entitlement, is as shown in the table below.
Loan Amount Maximum Potential Guaranty Special Provisions
Up to $45,000 50 percent of the loan amount. Minimum guaranty of 25 percent on IRRRLs.
$45,001 to $56,250 $22,500 Minimum guaranty of 25 percent on IRRRLs.
$56,251 to $144,000 40 percent of the loan amount, with a maximum of $36,000. Minimum guaranty of 25 percent on IRRRLs.
$144,001 to $417,000 25 percent of the loan amount Minimum guaranty of 25 percent on IRRRLs.
Greater than $417,000 The lesser of:

  • 25 percent of the VA county loan limit, or
  • 25 percent of the loan amount

 

Minimum guaranty of 25 percent on IRRRLs

4.  Maximum Guaranty on VA Loans, Continued

a. Maximum Guaranty Table (continued) Note:  The percentage and amount of guaranty is based on the loan amount including the funding fee portion when the fee is paid from loan proceeds.For the maximum guaranty on loans for manufactured homes that are not permanently affixed (i.e., not considered real estate) see 38 U.S.C. 3712 and/or contact VA.

5.  Occupancy

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
a. The Law on Occupancy
The law requires a veteran obtaining a VA-guaranteed loan to certify that he or she intends to personally occupy the property as his or her home.  As of the date of certification, the veteran must either

  • personally live in the property as his or her home, or
  • intend, upon completion of the loan and acquisition of the dwelling, to personally move into the property and use it as his or her home within a reasonable time.

The above requirement applies to all types of VA-guaranteed loans except IRRRLs.  For IRRRLs, the veteran need only certify that he or she previously occupied the property as his or her home.

 

Example:  A veteran living in a home purchased with a VA loan is transferred to a duty station overseas.  The veteran rents out the home.  He/she may refinance the VA loan with an IRRRL based on previous occupancy of the home.

b. What is a “Reasonable Time?”
Occupancy within a “reasonable time” means within 60 days after the loan closing.  More than 60 days may be considered reasonable if both of the following conditions are met:

  • the veteran certifies that he or she will personally occupy the property as his or her home at a specific date after loan closing, and
  • there is a particular future event that will make it possible for the veteran to personally occupy the property as his or her home on a specific future date.

Occupancy at a date beyond 12 months after loan closing generally cannot be considered reasonable by VA.

Continued on next page

5.  Occupancy, Continued

c. When Can a Spouse Satisfy the Occupancy Requirement?
Occupancy (or intention to occupy) by the spouse satisfies the occupancy requirement for a veteran who is on active duty and cannot personally occupy the dwelling within a reasonable time.Occupancy by the spouse may satisfy the requirement if the veteran cannot personally occupy the dwelling within a reasonable time due to distant employment other than military service. In these specific cases, consult your Regional Loan Center (RLC) to determine if this type of occupancy meets VA requirements.Note:  The cost of maintaining separate living arrangements should be considered in underwriting the loan.For an IRRRL, a certification that the spouse previously occupied the dwelling as a home will satisfy the requirement.

No family member or person other than the veteran’s spouse can satisfy the occupancy requirement for the veteran.

d. Occupancy Requirements
for Deployed
Active Duty Servicemembers
Single or married servicemembers, while deployed from their permanent duty station, are considered to be in a temporary duty status and able to meet the occupancy requirement.  This is true without regard to whether or not a spouse will be available to occupy the property prior to the veteran’s return from deployment.
e. Occupancy After Retirement
If the veteran states that he or she will retire within 12 months and wants a loan to purchase a home in the retirement location

  • verify the veteran’s eligibility for retirement on the specified date, and

– Include a copy of the veteran’s application for retirement submitted to his or her employer.

  • carefully consider the applicant’s income after retirement.

– If retirement income alone is insufficient, obtain firm commitments from an employer that meet the usual stability of income requirements.

Note:  Only retirement on a specific date within 12 months qualifies.  Retirement “within the next few years” or “in the near future” is not sufficient.

Continued on next page

5.  Occupancy, Continued

f. Delayed Occupancy Due to Property Repairs or Improvements
Home improvements or refinancing loans for extensive changes to the property which will prevent the veteran from occupying the property while the work is being completed, constitute exceptions to the “reasonable time” requirement. The veteran must certify that he or she intends to occupy or reoccupy the property as a home upon completion of the substantial improvements or repairs.
g. Intermittent Occupancy
The veteran need not maintain a physical presence at the property on a daily basis.  However, occupancy “as the veteran’s home” implies that the home is located within reasonable proximity of the veteran’s place of employment.  If the veteran’s employment requires the veteran’s absence from home a substantial amount of time, the following two conditions must be met:

  • the veteran must have a history of continuous residence in the community, and
  • there must be no indication that the veteran has established, intends to establish, or may be required to establish, a principal residence elsewhere.

Use of the property as a seasonal vacation home does not satisfy the occupancy requirement.

h. Unusual Circumstances
Discuss unusual circumstances of occupancy with the appropriate VA office or submit a description of the circumstances to the VA office for prior approval.

Continued on next page

5.  Occupancy, Continued

i. The Certification
The veteran certifies that the occupancy requirement is met by checking the appropriate occupancy block and signing:

  • VA Form 26-1802a, HUD/VA Addendum to the Uniform Residential Loan Application, at the time of loan application (prior approval loans only), and
  • VA Form 26-1820, Report and Certification of Loan Disbursement, at the time of loan closing (all loans).

This satisfies the lender’s obligation to obtain the veteran’s occupancy certification.

The lender may accept the occupancy certification at face value unless there is specific information indicating the veteran will not occupy the property as a home or does not intend to occupy within a reasonable time after loan closing.

Where doubt exists, the test is whether a reasonable basis exists for concluding that the veteran can and will occupy the property as certified.  Contact the appropriate VA office if the lender cannot resolve issues involving the veteran’s intent by applying this test.

6.  Interest Rates

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
a. Requirement
VA no longer prescribes interest rates for VA-guaranteed loans.  The interest rate is negotiated between the veteran-borrower and the lender to allow the veteran to obtain the best available rate.
b. Changes to the Agreed Upon Interest Rate
The lender and borrower are expected to honor any lock-in or other agreements they have entered into which impact the interest rate on the loan.  VA does not object to changes in the agreed upon rate, as long as no lender/borrower agreements are violated.  The following procedures apply in such cases.Any increase in the interest rate of more than one percent requires

  • re-underwriting to ascertain the veteran’s continued ability to qualify for the loan,
  • documentation of the change, and
  • a new or corrected Uniform Residential Loan Application, (URLA) with any corrections initialed and dated by the borrower.

Reference:  For prior approval loans, see section 4 of chapter 5.

7. Discount Points

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
a. Requirement
Veterans may pay reasonable discount points on VA-guaranteed loans.  The amount of discount points is whatever the borrower and lender agree upon.  Discount points can be based on the principal amount of the loan after adding the VA funding fee, if the funding fee will be paid from loan proceeds.
b. When Can Points be Included in the Loan?
Discount points may be rolled into the loan only in the case of refinancing loans, subject to the following limitations:Interest Rate Reduction Refinancing Loans A maximum of two discount points can be rolled into the loan.If the borrower pays more than two points, the remainder must be paid in cash.

Refinancing of Construction Loans, etc.

Loans to refinance are:

  • a construction loan,
  • an installment land sales contract, or
  • a loan assumed by the veteran at an interest rate higher than that for the proposed refinancing loan

Any reasonable amount of discount points may be rolled into the loan as long as the sum of the outstanding balance of the loan plus allowable closing costs and discount points does not exceed the VA reasonable value.

Reference:  See the maximum loan limitations in section 3 of this chapter.

Cash-out Refinancing Loans

While discount points cannot specifically be included in the loan amount, the borrower can receive cash from loan proceeds, subject to maximum loan limits (See section 3 of this chapter).  The cash received by the borrower can be used for any purpose acceptable to the lender, including payment of reasonable discount points.

Continued on next page

7. Discount Points, Continued

c. Changes to the Agreed Upon Discount Points
The lender and borrower are expected to honor any agreements they have entered into which impact the discount points paid on the loan.  VA does not object to changes in the agreed upon points, as long as no lender/borrower agreements are violated.  The following procedures apply in such cases.Any increase in discount points requires

  • verification that the borrower has sufficient assets to cover the increase,
  • documentation of the change, and
  • a new or corrected URLA with any corrections initialed and dated by the borrower

Reference:  For prior approval loans, see section 4 of chapter 5.

8.  Maturity

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
a. Maximum Maturity
  • Amortized loans:  30 years and 32 days,
  • Nonamortized loans: 5 years.

In addition, every loan must be repayable within the estimated economic life of the property securing the loan.

The period for repayment of a loan is measured from the date of the note or other evidence of indebtedness.

b. Maturity Extending Beyond the Maximum
VA regulations provide that any amounts, which fall due beyond the maximum maturity automatically, fall due on the maximum maturity date. Thus, if a lender inadvertently makes a loan that exceeds the maximum maturity, it may still be subject to guaranty.However, the regulations also limit the amount that can be collected as a final installment, such as, they prohibit excessive ballooning.  The holder of a loan that violates this provision may desire to correct the situation through means which are legally proper in the jurisdiction.

9.  Amortization

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
a. Requirement
All VA loans must be amortized if the maturity date is beyond 5 years from the date of the loan.  Loans with terms less than 5 years are considered term loans and need not be amortized.Generally, for amortized VA loans:

  • payments must be approximately equal,
  • principal must be reduced at least once annually, and
  • the final installment must not exceed two times the average of the preceding installments.

Exceptions to these requirements are made in the case of

  • GPMs – See section 7 of chapter 7,
  • GEMs – See section 8 of chapter 7,
  • alternative amortization plans prior approved by VA, and
  • construction loans.
b. Alternative Amortization Plans
Certain amortization plans which do not meet the requirements described in section a above may be used if approved in advance by VA.  A lender may submit an amortization plan to VA for prior approval if the plan:

  • is generally recognized; that is, is used extensively by established lending institutions, but
  • does not meet the requirements of approximately equal periodic payments and a reduction in principal not less often than annually.

Exception:  GPMs and GEMs.

Continued on next page

9.  Amortization, Continued

c. Special Provisions for Construction Loans
See “Amortization” in section 2 of chapter 7.
d. Standard and Springfield Plans
The Standard and Springfield plans satisfy VA amortization requirements.

  • The Standard plan provides for equal payments over the life of the loan.  The amount applied to interest decreases, with a corresponding increase in the amount applied to principal.
  • The Springfield plan provides for gradually decreasing payments over the life of the loan.  The amount applied to interest decreases, while the amount applied to principal remains constant.

10.  Eligible Geographic Locations for the Secured Property

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
a. Where Can the Property be Located?
Real property securing a VA-guaranteed loan must be located in the United States, its territories, or possessions (Puerto Rico, Guam, Virgin Islands, American Samoa and the Northern Mariana Islands).

11.  What Does a VA Guaranty Mean to the Lender?

Change Date
April 10, 2009, Change 9

  • This section has been updated to correct hyperlinks and make minor grammatical edits.
  • Subsection e has been updated to note that evidence of guaranty is issued through VA’s webLGY system.
a. Protection Against Loss
VA guarantees a portion of the loan, identified on the VA Loan Guaranty Certificate (LGC) by percentage and dollar amounts.  If a loss ultimately occurs on the loan, VA will reimburse the loan holder for all or part of such loss

  • limited by the stated percentage and dollar amount of the guaranty,
  • limited by any VA maximums for reasonable and customary foreclosure expenses, and
  • subject to the lender’s compliance with applicable law and regulations.
b. Lender Responsibility
It is the lender’s responsibility to comply with all laws and regulations related to the VA Loan Guaranty Program, and thereby prevent VA’s denial or reduction of a payment on a future claim.  A lender can accomplish this by ensuring that its employees who perform work related to VA lending

  • understand and comply with VA policies, procedures and regulations, and applicable law, and
  • direct questions to VA when issues arise that are not addressed in this handbook or other materials provided by VA.
c. When is a Loan that was Closed Automatically Guaranteed?
A loan is automatically guaranteed by VA upon closing (prior to issuance of the LGC) provided the loan was made by

  • a supervised or a nonsupervised lender with automatic authority, and
  • the lender complied with applicable law and regulations.

Continued on next page

11.  What Does a VA Guaranty Mean to the Lender?, Continued

d. When is a Prior Approval Loan Guaranteed?
A prior approval loan is also guaranteed by VA upon closing (prior to issuance of the LGC) provided

  • the closed loan matches the proposed loan upon which the Certificate of Commitment was based, and
  • the lender complied with applicable law and regulations.
e. What is Evidence of Guaranty?
Evidence of guaranty is VA Form 26-1899, Loan Guaranty Certificate, which is generated electronically via VA’s webLGY application.  The LGC represents tangible proof to the lender that VA’s guaranty is given in good faith.  It is contingent upon:

  • the veteran, property and purpose of the loan being eligible,
  • no fraud or material misrepresentation on the part of the lender, and
  • the lender’s compliance with applicable law and regulations.

For example, VA may deny or reduce payment on a future claim based on the lender or holder’s noncompliance whether or not VA has issued evidence of guaranty on the loan.

The LGC also has an audit indicator that, if noted Yes, lets the lender know the case has been identified for full review.  In these instances, the lender then needs to submit a complete loan origination package to the appropriate VA office for review.  Packages should be submitted within 15 days of the LGC being generated.

f. Total Loss of Guaranty
Willful fraud or material misrepresentation by the lender or holder, or by an agent of either, will relieve VA of liability for payment of any claim on the loan.  VA also has no liability in the case of

  • forgery on the note, mortgage, loan application, or other loan documents, or
  • a Certificate of Eligibility or discharge papers that are counterfeited, falsified, or not issued by the Government.

A holder of a VA loan who acquired the loan without notice or knowledge of fraud or material misrepresentation in procuring the guaranty will not be denied payment of any claim on the loan by reason of such fraud or material misrepresentation.

Continued on next page

11.  What Does a VA Guaranty Mean to the Lender?, Continued

g. Partial Loss of Guaranty
A holder of a VA loan who fails to comply with applicable laws and regulations may receive only partial payment of a claim if VA’s liability increases due to the holder’s noncompliance.  Material misrepresentation which is not willful has the same consequence.No claim will be paid on such loan until the amount of any increase in VA’s liability is known.  The burden of proof is on the holder to establish that VA’s increased liability is not due to the holder’s noncompliance or misrepresentation.Examples of noncompliance with applicable law and regulations which may lead to an increase in VA’s liability include:

  • failure to obtain and retain the required lien on property to secure the loan,
  • failure to include the power to substitute trustees,
  • failure to procure and maintain insurance coverage,
  • failure to advise VA as to default,
  • failure to provide notice of intention to begin foreclosure action,
  • failure to provide notice to VA in any suit or action, or notice of sale,
  • improper release, conveyance, substitution or exchange of security,
  • lack of legal capacity of a party to the transaction,
  • failure to assure that escrowed/earmarked funds are expended in accordance with the agreement, and
  • failure to take into consideration limitations upon the quantum or quality of the estate or property.

12.  Post-Guaranty Issues

Change Date
April 10, 2009, Change 9

  • This section has been changed to reflect present procedures, correct hyperlinks, and make minor grammatical edits.
a. Corrections to LGCs
LGCs are generated using data entered from several sources, including the VA Funding Fee Payment System (VA FFPS).  If a lender discovers an error in reported data, such as date of loan closing, beforethey have generated the LGC, they must access the VA FFPS system to make the correction.  This will then result in the correct closing date being shown when the LGC is obtained. If the error is discovered after the LGC has been generated, lenders will need to contact the appropriate VA RLC for assistance.  An LGC with minor typographical errors that do not compromise accurate identification of the loan is valid.
b. Replacement of Missing LGC with Duplicate
A lender may obtain duplicate LGCs at any time simply by accessing the system and reprinting the LGC.
c. Transfer of Loans
It is not necessary to notify VA of the assignment of a guaranteed loan.
d. Loan Assumptions
The assumption of VA-guaranteed loans for which commitments were made on or after March 1, 1988, requires the approval of VA (or certain lenders on VA’s behalf).

Continued on next page

12.  Post-Guaranty Issues, Continued

e. Paid-in-Full Loans
Holders of VA-guaranteed loans are required to electronically report the date the loan was paid-in-full in the VA Loan Electronic Reporting Interface (VALERI) system. Lenders are required to report paid-in-full loans to VA upon full satisfaction of the loan by payment or otherwise. Lenders/servicers are not required to mail LGCs to VA when a loan is terminated. Since this information will now be reported through VALERI, there is no need to have the actual LGC returned to VA upon termination of the loan.
f. Maintenance of Loan Records
Lenders must maintain copies of all loan origination records onVA-guaranteed home loans for at least 2 years from the date of loan closing.  Even if the loan is sold, the original lender must maintain these records (or legible copies) for the required period.Loan origination records include:

  • the loan application (including any preliminary application),
  • verifications of employment and deposit,
  • all credit reports (including preliminary credit reports),
  • copies of each sales contract and addendum,
  • letters of explanation for adverse credit items, discrepancies and the like,
  • direct references from creditors,
  • correspondence with employers,
  • appraisal and compliance inspection reports,
  • reports on termite and other inspections of the property,
  • builder change orders, and
  • all closing papers and documents.

Lenders must make these records accessible to VA personnel conducting audit reviews.

Residual Income for a Kentucky VA Loan Approval
Residual income is the amount of income remaining after housing expenses, income taxes, long-term obligations and other expenses have been deducted from the borrower’s total gross pay. VA requires a specific amount of monthly residual income be available for the borrower’s use. This amount is based on the family size, location of the property and loan amount.

  • Federal, state and local taxes must be entered in DU or LP. Taxes should be calculated using the most recently published tax charts by the IRS and state or local taxing authorities. Click here for Tax tables.
  • Maintenance and utility costs may be estimated at 14 cents per square foot.

Minimum Residual Income with DTI <=41% 

http://www.mylouisvillekentuckymortgage.com/p/va-loans.html

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/
 
http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 

 

 

Louisville Kentucky VA Refinance for Cashout, rate and term, and IRRL streamline VA refinance Mortgage


via Louisville Kentucky VA Refinance for Cashout, rate and term, and IRRL streamline VA refinance Mortgage

$10,000 Down payment Assistance Grant for Kentucky First Time Home buyers 2019

$10,000 Down payment Assistance Grant for Kentucky First Time Home buyers 2019


$10,000 Down payment Assistance Grant for Kentucky First Time Home buyers 2019

As of right now, January 2019, there are no funds available for the $10,000 Grant for Kentucky Home Buyers. However, they’re current down payment assistance programs available now up to $6000 for Kentucky Homebuyers in 2019 to purchase a home with 100% financing no down payment, this is subject to change throughout the year so check back periodically. 

 

 

There are some other Kentucky  down payment assistance programs available now to buy a home no money down so read on below:
Kentucky First Time Home Buyer Common Questions and Answers:

∘ What kind of credit score do I need to qualify for different first time home buyer loans in Kentucky?

Answer. Most lenders will wants a middle credit score of 620 for KY First Time Home Buyers looking to go no money down. The two most used no money down home loans in Kentucky being USDA Rural Housing and KHC with their down payment assistance will want a 620 middle score on their programs.

If you have access to 3.5% down payment, you can go FHA and secure a 30 year fixed rate mortgage with some lenders with a 580 credit score. Even though FHA on paper says they will go down to 500 credit score with at least 10% down payment, you will find it hard to get the loan approved because lenders will create overlays to protect their interest and maintain a good standing with FHA and HUD.

Another popular no money down loan is VA. Most VA lenders will want a 620 middle credit score but like FHA, VA on paper says they will go down to a 500 score, but good luck finding a lender for that scenario.

A lot of times if your scores are in the high 500’s or low 600’s range, we can do a rapid rescore and get your scores improved within 30 days.

 Does it costs anything to get pre-approved for a mortgage loan?

Answer: Most lenders will not charge you a fee to get pre-approved, but some lenders may want you to pay for the credit report fee upfront. Typically costs for a tri-merge credit report for a single borrower runs about $50 or less. Maybe higher if more borrowers are included on the loan application.
∘ How long does it take to get approved for a mortgage loan in Kentucky?

Answer: Typically if you have all your income and asset documents together and submit to the lender, they typically can get you a pre-approval through the Automated Underwriting Systems within 24 hours. They will review credit, income and assets and run it through the different AUS (Automated Underwriting Systems) for the template for your loan pre-approval. Fannie Mae uses DU, or Desktop Underwriting, FHA and VA also use DU, and USDA uses a automated system called GUS. GUS stands for the Guaranteed Underwriting System.

If you get an Automated Approval, loan officers will use this for your pre-approval. If you have a bad credit history, high debt to income ratios,  or lack of down payment,  the AUS will sometimes refer the loan to a manual underwrite, which could result in a longer turn time for your loan pre-approval answer

 Are there any special programs in Kentucky that help with down payment or no money down loans for KY First Time Home Buyers?

Answer: There are some programs available to KY First Time Home Buyers that offer zero down financing: KHC, USDA, VA, Fannie Mae Home Possible and HomePath, HUD $100 down and City Grants are all available to Kentucky First Time Home buyers if you qualify for them. Ask your loan officer about these programs
∘ When can I lock in my interest rate to protect it from going up when I buy my first home?

Answer: You typically can lock in your mortgage rate and protect it from going up once you have a home picked-out and under contract. You can usually lock in your mortgage rate for free for 90 days, and if you need more time, you can extend the lock in rate for a fee to the lender in case the home buying process is taking a longer time. The longer the term you lock the rate in the future, the higher the costs because the lender is taking a risk on rates in the future.

Interest rates are kinda like gas prices, they change daily, and the general trend is that they have been going up since the Presidential election in November 2016.
∘ How much money do I need to pay to close the loan?

Answer: Depending on which loan program you choose, the outlay to close the loan can vary. Typically you will need to budget for the following to buy a home: Good faith deposit, usually less than $500 which holds the home for you while you close the loan. You get this back at closing; Appraisal fee is required to be paid to lender before closing. Typical costs run around $400-$450 for an appraisal fee; home inspection fees. Even though the lender’s programs don’t require a home inspection, a lot of buyers do get one done. The costs for a home inspection runs around $300-$400. Lastly, termite report. They are very cheap, usually $50 or less, and VA requires one on their loan programs. FHA, KHC, USDAS, Fannie Mae does not require a termite report, but most borrowers get one done.

There are also lender costs for title insurance, title exam, closing fee, and underwriting fees that will be incurred at closing too. You can negotiated the seller to pay for these fees in the contract, or sometimes the lender can pay for this with a lender credit.

The lender has to issue a breakdown of the fees you will incur on your loan pre-approval.
How long is my pre-approval good for on a Kentucky Mortgage Loan?

Answer: Most lenders will honor your loan pre-approval for 60 days. After that, they will have to re-run your credit report and ask for updated pay stubs, bank statements, to make sure your credit quality and income and assets has not changed from the initial loan pre-approval.

How much money do I have to make to qualify for a mortgage loan in Kentucky?

Answer: The general rule for most FHA, VA, KHC, USDA and Fannie MAe loans is that we run your loan application through the Automated Underwriting systems, and it will tell us your max loan qualifying ratios.

There are two ratios that matter when you qualify for a mortgage loan. The front-end ratio, is the new house payment divided by your gross monthly income.  The back-end ratio, is the new house payment added to your current monthly bills on the credit report, to include child support obligations and 401k loans.

Car insurance, cell phone bills, utilities bills does not factor into your qualifying rations.

If the loan gets a refer on the initial desktop underwriting findings, then most programs will default to a front end ratio of 31% and a back-end ratio of 43% for most government agency loans that get a refer. You then take the lowest payment to qualify based on the front-end and back-end ratio.

So for example, let’s say you make $3000 a month and you have $400 in monthly bills you pay on the credit report. What would be your maximum qualifying house payment for a new loan?

Take the $3000 x .43%= $1290 maximum back-end ratio house payment. So take the $1290-$400= $890 max house payment you qualify for on the back-end ratio.

Then take the $3000 x .31%=$930 maximum qualifying house payment on front-end ratio.

So now your know! The max house payment you would qualify would be the $890, because it is the lowest payment of the two ratios.

  • Minimum 620 Credit Score
  • Max Purchase Price Limit of $283,000
  • Max Household Income Limits of $117,250
  • Must provide 3 years tax returns to prove a first time home buyer in Louisville KY
  • Must complete an online home buying course
  • Max debt to income ratios of 40 and 45% respectively with Approved Eligible Findings
  • No Bankruptcies last 2 years for FHA
Kentucky Mortgage Programs For First-Time Buyers in Kentucky

Apply Here Free!

Kentucky First Time Home Buyer Loans for 2019
Kentucky First Time Home Buyer Programs for 2019
There are basically 5 popular programs that Kentucky Home buyers use to purchase their first home.
• At least 3%-5% down
 Closing costs will vary on which rate you choose and the lender. Typically the higher the rate, the lesser closing costs due to the lender giving you a lender credit back at closing for over par pricing. Also, called a no-closing costs option. You have to weigh the pros and cons to see if it makes sense to forgo the lower rate and lower monthly payment for the higher rate and less closing costs.
Fico scores needed start at 620, but most conventional lenders will want a higher score to qualify for the 3-5% minimum down payment requirements Most buyers using this loan have high credit scores (over 720) and at least 5% down.
The rates are a little higher compared to FHA, VA, or USDA loan but the mortgage insurance is not for life of loan and can be rolled off when you reach 80% equity position in home.
Conventional loans require 4-7 years removed from Bankruptcy and foreclosure.
Max Conventional loan limits are set at $484,500 for 2019 in Kentucky
If you meet income eligibility requirements and are looking to settle in a rural area, you might qualify for the KY USDA Rural Housing program. The program guarantees qualifying loans, reducing lenders’ risk and encouraging them to offer buyers 100% loans. That means Kentucky home buyers don’t have to put any money down, and even the “upfront fee” (a closing cost for this type of loan) can be rolled into the financing.
Fico scores usually wanted for this program center around 620 range, with most lenders wanting a 640 score so they can obtain an automated approval through GUS. GUS stands for the Guaranteed Underwriting system, and it will dictate your max loan pre-approval based on your income, credit scores, debt to income ratio and assets.
They also allow for a manual underwrite, which states that the max house payment ratios are set at 29% and 41% respectively of your income.
They loan requires no down payment, and the current mortgage insurance is 1% upfront, called a funding fee, and .35% annually for the monthly mi payment. Since they recently reduced their mi requirements, USDA is one of the best options out there for home buyers looking to buy in an rural area.
A rural area typically will be any area outside the major cities of Louisville, Lexington, Paducah, Bowling Green, Richmond, Frankfort, and parts of Northern  Kentucky .
There is a map link below to see the qualifying areas.
There is also a max household income limits with most cutoff starting at $76,000 for a family of four, and up to $98,000 for a family of five or more.
USDA requires 3 years removed from bankruptcy and foreclosure.
There is no max USDA loan limit.
FHa loans are good for home buyers with lower credit scores and no much down, or with down payment assistance grants. FHA will allow for grants, gifts, for their 3.5% minimum investment and will go down to a 580 credit score.
The current mortgage insurance requirements are kinda steep when compared to USDA, VA , but the rates are usually good so it can counteracts the high mi premiums. As I tell borrowers, you will not have the loan for 30 years, so don’t worry too much about the mi premiums.
THe mi premiums are for life of loan like USDA.
FHA requires 2 years removed from bankruptcy and 3 years removed from foreclosure.
Maximum FHA loan limits in Kentucky are set around $285,000 and below.
VA loans are for veterans and active duty military personnel. The loan requires no down payment and no monthly mi premiums, saving you on the monthly payment. It does have an funding fee like USDA, but it is higher starting at 2% for first time use, and 3% for second time use. The funding fee is financed into the loan, so it is not something you have to pay upfront out of pocket.
VA loans can be made anywhere, unlike the USDA restrictions, and there is no income household limit and the max loan is $417,000 in Kentucky
Most VA lenders I work with will want a 620 credit score though I am setup with lenders that will go down to a 560 credit score if I can get it approved.
VA requires 2 years removed from bankruptcy or foreclosure.
This type of loan is administered  by KHC in the state of Kentucky. They typically have $4500 to $6000 down payment assistance year around, that is in the form of a second mortgage that you pay back over 10 years.
Sometimes they will come to market with other down payment assistance and lower market rates to benefit lower income households with not a lot of money for down payment.
KHC offers FHA, VA, USDA, and Conventional loans with their minimum credit scores being set at 620 for all programs. The conventional loan requirements at KHC requires 660 credit score.
$6000 Kentucky housing grant for 2019 first time home buyers

Kentucky Home Buyers

 Effective with new reservations as of Monday, January , 2019, properties located in one of the counties considered Middle Appalachia or Lower Mississippi Delta will have access to a $1,500 closing cost grant. Borrowers must be under the specific income limits per the Duty to Serve (DTS) program.
KHC recognizes that down payments, closing costs, and prepaids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

Hardest Hit Fund (HHF) DAP For Kentucky 2019

Available to Christian County only 11/15/2018

  • Zero percent interest rate for first-time home buyers.
  • A non-repayalbe second mortgage for $10,000.
  • Forgiven after five years.
  • Home purchase must be located in Christian county.
    • No other counties will be eligible.
  • New construction properties are not allowed.
    • Property has to have been previously occupied.
  • Applicants must meet Secondary Market Income and Purchase Price Limit.

Regular DAP for Kentucky Home Buyers in 2019

  • Purchase price up to $301,294 with Secondary Market.
  • Assistance in the form of a loan up to $6,000 in $100 increments.
  • Repayable over a ten-year term at 5.50 percent.
  • Available to all KHC first-mortgage loan recipients.

Affordable DAP for Kentucky Home Buyers in 2019

  • Purchase price up to $301,294 with Secondary Market.
  • Assistance up to $6,000.
  • Repayable over a ten-year term at 1.00 percent.
  • Borrowers must meet Affordable DAP income limits.

More about down payment and closing costs

  • No liquid asset review and no limit on borrower reserves.
  • Specific credit underwriting standards may apply to down payment programs.
This type of loan is administered  by KHC in the state of Kentucky. They typically have $4500 to $6000 down payment assistance year around, that is in the form of a second mortgage that you pay back over 10 years.
Sometimes they will come to market with other down payment assistance and lower market rates to benefit lower income households with not a lot of money for down payment.
KHC offers FHA, VA, USDA, and Conventional loans with their minimum credit scores being set at 620 for all programs. The conventional loan requirements at KHC requires 660 credit score.
The max debt to income ratios are set at 40% an 50% respectively.


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

Customer Testimonials

We just moved here the first of January in 2017 from Ohio to the Louisville, KY area and we found Joel’s website online. He was quick to respond to us and got back the same day on our loan approval. He was very knowledgeable about the local market and kept us up-to date throughout the loan process and was a pleasure to meet at closing. Would recommend his services.

Angela Forsythe

“We were searching online for mortgage companies in Louisville, Ky locally to deal with and found Joel’s website, and it was a godsend. He was great to work with, and delivered on everything he said he would do. I ended up referring my co-worker at UPS, and she was very pleased with his service and rates too. Would definitely vouch for him.” September 2016

Monica Leinhardt

“We contacted Joel back in July 2011 to refinance our Mortgage and he was great to work with. We contacted several lenders locally and online, and most where taking almost 60 days to close a refinance, Joel got it done in 23 days start to finish,I would definitely recommend him. He got us 3.75% with just $900 in closing costs on our FHA Streamline loan.

Kayle Griffin

“Joel is one of the best Mortgage Brokers I have ever worked with in my sixteen years in the real estate and mortgage business.” May 25, 2010

Tim Beck

“Joel has always worked very hard to keep his word and to work out seasonable solutions to difficult problems. He is truly an expert in FHA and other type loans.” September 1, 2010

Nancy Nalley
“I have worked with Joel since 1998. He is a great loan professional.” I refer most of my Louisville, Kentucky area home buyers to him and he always take special care of them. August 23, 2012
Jon ClarK

“Joel Lobb is a real professional in the lending industry, with many years of experience, he is the one to go to for any mortgage lending needs.” August 22, 2011

RICHARD VOLZ , Residential Sales , Remax Foursquare Realty
“When looking to purchase our new home in 2006, I had the pleasure of meeting Joel Lobb. Not only was he personable and easy to reach, he was extremely knowledgable in his field and made sure to find us the best rate and a top notch mortgage company. We were able to complete the process in less than 3 weeks with his expertise. I find Joel to have the utmost high integrity and I recommend him to anyone who say’s they are need of mortgage assistance. He is also fantastic and keeping everyone up to date on the latest in the housing industry through his twitter posts. He provided great results for our family and we still communicate to this day!” August 21, 2010
Stacie Drake

“We first use Joel on our new home purchase in 2007 in St Matthews, Kentucky area and he was great to work with. We have since refinanced our home with him in 2010 when rates got really low and he has always delivered on what he says. I could not imagine using anyone else.”

Melody Glasscock March 2014

Absolutely Amazing!! I emailed Joel after I had just got a denial from a bank and just thought i would try to get some advice on what my next steps would be to get a house. I honestly didn’t expect to even get a reply because my credit is not great. That was about a week and a half ago. I just signed a contract on a house last night. ONLY because of Joel Lobb. He even worked with us throughout the weekend, which shocked me. Best decision I have ever made. THANK YOU SO MUCH FOR WORKING WITH US THROUGHOUT THE ENTIRE PROCESS.
Cee Bellisle August 2017

Contacted him about buying a home and he was great to work with. I was moving to Louisville Ky to take a new job and he walked me through the entire process. He explained to me all the different options for FHA, VA, USDA mortgage loans and credit score requirements versus Fannie Mae. Since I was a first time home buyer I needed alot of help and guidance. I would definitely recommend him. Fast to respond and available to answer questions that I or my realtor had after hours.

Anderson Johnson June 2018

We moved from Michigan to Northern Kentucky area and we were really impressed. We got a USDA loan no money down and closed in less than 3.5 weeks. We shopped around online with other lenders but Joel was always first to respond and his rates were just a little better than other lenders. He kept us informed through the process along with our realtor and there was absolutely no surprises like we heard from other co-workers and friends that they experienced in their loan process. We have already referred another co-worker to Joel . He’s AWESOME!

Patty Kingston

 

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/
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

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#57916http://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.



Text/call:      502-905-3708

fax:            502-327-9119
email:
kentuckyloan@gmail.com

 

FREQUENTLY ASKED QUESTIONS FOR KENTUCKY VA MORTGAGE LOANS


via FREQUENTLY ASKED QUESTIONS FOR KENTUCKY VA MORTGAGE LOANS

 

2018 Kentucky VA Loan ChangesCertificate of Eligibilitycredit scorefico scoreFort Knox VA loansFrequently Asked QuestionsGuide to Kentucky VA LoansKentucky VA Mortgage Calculatorkentucky va mortgage refinance guidelinesVA GuidelinesVA Mortgage RatesVA mortgage refinancingzero down and tagged  by Louisville Kentucky Mortgage