Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

Tight Inventory Translates to Quick Home Sales Greater Louisville Association of Realtors

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KHC has $5 million available at a 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting Monday, August 1, 2016, with NEW reservations.
The program is targeted to:
Households whose gross annual income does not exceed $35,000.
An existing or new construction property (purchase price limit $115,000).
640 minimum credit score.
FHA, VA or RHS first mortgage options.
Households who meet one of the following criteria:
At least one of the home buyers is age 62 or older.
At least one member of the household is disabled and is receiving disability income.
A single- or two-parent household with at least one dependent child under the age of 18 living in the household.
Borrowers with properties located in Non-targeted counties must be a first time homebuyer — no ownership interest in the last 3 years.
Borrowers with properties located in Targeted counties can be a repeat home buyer.

Loan Type
Rate without Down Payment Assistance
Rate with Down Payment Assistance
FHA, VA & RHS
2.00%
2.00%

RHS Streamlined-Assist Refinance Program
3.50%

.
RHS USDA Recent News
Good news! Kentucky Mortgage holders of USDA Mortgage loans can get new drastically lower fees starts with commitments starting tomorrow October 1. If you have an USDA eligible Loan up to $417,000 with no money down in most Kentucky Counties.

If you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.

Joel Lobb
Senior Loan Officer
(NMLS#57916)

Text or call phone: (502) 905-3708

email me at kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarLouisville Kentucky Mortgage Loans

The Greater Louisville Association of Realtors® (GLAR) reported year-to-date (YTD) sales up 6.6% compared the same time last year. Sales in September 2016 were up 7.7%, vs September 2015, with 1,60…

Source: Tight Inventory Translates to Quick Home Sales

The Greater Louisville Association of Realtors® (GLAR) reported year-to-date (YTD) sales up 6.6% compared the same time last year. Sales in September 2016 were up 7.7%, vs September 2015, with 1,600 homes and condos sold. The median price was up 4.8% YTD and the average was 3.0% higher YTD.

In Jefferson County, the average price in September 2016 was $205,975 and the median was $167,000. For all MLS areas, the inventory of available properties was 22.5% lower than at the same time last year. In Jefferson County the inventory of homes and condos for sale was 23.7% lower than September 2015.

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

SURRENDURING YOUR HOME IN BANKRUPTCY

fha loan foreclosure process ky

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans

SURRENDURING YOUR HOME IN BANKRUPTCY.

Kentucky Mortgage after a bankruptcy, foreclosure, short sale approval

by: Tracy L. Hirsch, Attorney

One of the hardest decisions a family has to make is deciding to surrender their home in a bankruptcy proceeding. Often times, this means allowing a home to go through the foreclosure process and discharging their mortgage obligations in a Chapter 7 bankruptcy. Many homeowners are concerned about the foreclosure process and their obligations to their mortgage company once their bankruptcy process is complete.

Often times, when a person chooses to surrender their home in bankruptcy, he is in the middle of the foreclosure process. Filing a bankruptcy petition creates an automatic stay, which puts an immediate halt to the foreclosure process. The mortgage company may then choose to either file a motion with the court to re-start the foreclosure process (called a motion to terminate the automatic…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

USDA Lowers Loan Costs for Kentucky Home Buyers and Home Owners

Kentucky FHA Mortgage Guidelines
In “100% Financing Zero Down”

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans 500 credit score FHA loan, 580 credit score FHA, 620 credit score FHA loan, appraisals, back to work program FHA KY, credit scores, credit scores FHA loan, Credit Scores/Credit Reports, FHA, FHA Back to Work Program Ky, FHA Guidelines, fha mortgage insurance premiums, first time buyer, first time buyer kentucky, First Time Home Buyer, Home Mortgage Rates Ky, Homeownership Assistance Programs: Kentucky, Kentucky FHA HUD Homes for $100 Down, Kentucky FHA Important Links, Kentucky Housing, Kentucky Mortgage Interest Rates, Kentucky Real Estate and Kentucky Appraisal Links, KY FHA LOANS, Loan Limits for FHA, louisville ky fha seller contributions, Louisville Ky Home Loans

Kentucky FHA Loan Requirements For Loan Approval.

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FHA Handbook 4000.1 Updates

Administration (FHA) Single Family Housing Policy Handbook 4000.1. These updates are effective September 30, 2016 and

 Clarification that an Upfront Mortgage Insurance Premium (UFMIP) refund calculation applies even if original UFMIP was
not financed.
 Mortgage Debt Not Included in Credit Report: Clarification that a manual downgrade is not required when there is no history of late payments, as detailed below.
o Not currently delinquent; and
o No 30 day late payments within 12 months of the case number assignment date; and
o No more than 2 x 30 day late payments within 24 months of the case number assignment date.
 A link has been added in the FHA Product Description from Mortgage Payment History requirements to “Credit History
Requirements for Manually Underwritten Loans.”
Appliances that add contributory value must be operable.
 Mechanical components and utilities: The appraiser must report the utility, safety, and capacity of the mechanical systems.
The appraiser must observe and operate all applicable mechanical systems and utilities. In conjunction with this guidance,
existing FHA Handbook guidance on the following topics will be added:
o Electrical System
o Heating and Cooling
o Plumbing
o Utilities

If you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.


The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people
Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

HomePath listings in Jefferson County, Louisville Kentucky!

HomePath listings in Jefferson County, Louisville Kentucky!

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans

Check out the HomePath listings in Jefferson County and Louisville, Kentucky!

Let your clients know these properties are available. Some have special incentives! Select the property address to find out more information.

Click Link to View Property635 S 44TH ST
LOUISVILLE, KY 40211
3.0 br, 1.0 ba | 1574 sq. ft.
MLS ID: 1457633
$31,000
Just Listed
Click Link to View Property615 S 18TH ST
LOUISVILLE, KY 40203
3.0 br, 2.0 ba | 1248 sq. ft.
MLS ID: 1457948
$29,500
Just Listed
Click Link to View Property541 WARNOCK ST
LOUISVILLE, KY 40217
2.0 br, 1.0 ba | 876 sq. ft.
MLS ID: 1458468
$63,000
Just Listed
Click Link to View Property271 STONE RIDGE DR
FISHERVILLE, KY 40023
4.0 br, 3.0 ba | 2512 sq. ft.
MLS ID: 1451250
$239,900
Price Reduced
Click Link to View Property5919 COUNT TURF DR
LOUISVILLE, KY 40272
3.0 br, 1.0 ba | 925 sq. ft.
MLS ID: 1456218
$65,000
Price Reduced
Click Link to View Property8008 GRENELLE DR
LOUISVILLE, KY 40228
3.0 br, 1.0…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

Can you refinance a Kentucky Rural USDA Housing Loan?

For commitments issues on or after October 1, 2016:

USDA charges the lender, who can pass the charge to the borrower, a one-time up-front cost, which is known as a Guarantee Fee. The Guarantee Fee can be financed in addition to the maximum base loan amount. The Guarantee Fee is calculated as follows as of October 1, 2016:
PURCHASE TRANSACTION CALCULATION:

1.00% of the TOTAL loan amount for commitments issued on or after 10/1/16.
Calculation: Base loan amount divided by .99 = Total loan amount (round down to nearest dollar). Total loan is then multiplied by 1.00% to get the amount of the guarantee fee.
A Guarantee Fee & Annual Fee (monthly) Calculator can be found on the USDA training resource website.
CALCULATION FOR REFINANCE TRANSACTIONS:

1.00% of the TOTAL loan amount for commitments issued on or after 10/1/16.
Calculation: Base loan amount divided by .99 = Total loan amount (round down to nearest dollar). Total loan is then multiplied by 1.00% to get the amount of the guarantee fee.
A Guarantee Fee & Annual Fee (monthly) Calculator can be found on the USDA training resource website.
ANNUAL FEE:
All loan transactions will include an annual fee of .35%

REPAYMENT RATIOS REFINANCE

FOR BOTH GUARANTEED LOAN TO GUARANTEED LOAN AND DIRECT LOAN TO GUARANTEED LOAN:
USDA – GUS Approved
USDA – Manual Underwrite – Must meet USDA guideline maximum debt ratios of 29 & 41%–No Exceptions Allowed.

TERM OF NEW LOAN

FOR BOTH GUARANTEED LOAN TO GUARANTEED LOAN AND DIRECT LOAN TO GUARANTEED LOAN:
TERM OF THE NEW LOAN WILL BE A 30 YEAR FULLY AMORTIZED FIXED RATE MORTGAGE ONLY.

INTEREST RATE

Interest rate of the new loan must be a fixed rate.
The interest rate must be lower than the existing loan to be refinanced.
Funded buy down accounts are not permitted.
HOUSEHOLD INCOME

Total adjusted income for the household cannot exceed the moderate level for the area as established in HB-1-3555.

LOAN SECURITY

Loan security must include the same property as the original loan.
The security property must be owned and occupied by the applicants as their principal residence.
RURAL / NONRURAL AREAS

SFHGLP refinance loans are permissible for properties in areas that have been determined to be non-rural since the existing loan was made.

PROPERTY VALUATION

The value of the new mortgage loan request must be supported by a new appraisal. The loan amount cannot exceed the present market value plus the one-time 2 percent guarantee fee. The new loan amount can include closing costs or lender fees if supported by market value.
INSPECTIONS

The lender must confirm the property meets or continues to meet the current requirements of HUD Handbook 4150.2 and 4905.1.
No further inspections or repairs required by Rural Development.
Lender may require inspections or repairs. Expenses related to inspections or repairs may not be financed.
NET TANGIBLE BENEFIT

Every refinance

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky USDA Mortgage Lender for Rural Housing Loans

You can refinance your existing USDA Rural Housing Loan. See details below:

unnamed-51 Can you refinance a Rural Housing Loan? The short answer is yes. See below for qualifying criteria

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KENTUCKY  USDA LOAN GUARANTEED RURAL HOUSING REFINANCE FEATURES

  • Loan must be secured by the same property as the original loan. The original loan must be Guaranteed Rural Housing (GRH) or USDA Section 502 Direct only. The Program may not be used to refinance FHA, VA, or other government or conventional mortgages.
  • Term of the new loan will be 30 years.
  • Interest rate of the new loan cannot exceed the interest rate of the loan being refinanced. However, the interest rate of the new loan does not have to meet the interest rate requirements established in RD Instruction 1980-D, §1980.320 Interest rate.
  • Property must be owned and occupied by the borrowers as their principal residence.
  • The guarantee fee is 1.00% of the…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

Kentucky Housing Corporation’s (KHC) master commissioner sales or Foreclosure Sales

Kentucky Housing Corporation’s (KHC) master commissioner sales or Foreclosure Sales

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans

We are pleased to provide you with information about Kentucky Housing Corporation’s (KHC) master commissioner sales. These sales typically take place at the county courthouse where the property is located. The listings are arranged by county, according to the county in which the property is located.

 

If you do not see a county listed, there is not a property available in that county at this time.Please note: We are not able to send individualized emails for specific counties.

lease be advised, as of March 1, 2015, KHC will start bidding properties in at a specified percentage of fair market value instead of total debt on all FHA-insured properties.

BULLITT
179 WILDERNESS RD10/25/2016
BROOKS, KY 40109
CASEY
292 CLEARY HILL ROAD10/8/2016
LIBERTY, KY 42539
CHRISTIAN
1705 E 7TH STREET10/3/2016
HOPKINSVILLE, KY 42240
DAVIESS
2024 BLUFF AVENUE10/17/2016
OWENSBORO, KY 42303
3819 KIPLING DR10/17/2016
OWENSBORO, KY…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

The Kentucky Guaranteed Rural Housing (GRH) Loan Program

Looking for 100% Financing?

Effective 10/1/2016 the Up Front Guarantee Fee is reduced to 1.0%*
No down payment required
Up to 6% Seller Concessions
Minimum 620 FICO
Aggressive Interest Rates/ Pricing for 30 year fixed rate
For list of eligible properties: USDA Property Eligibility
For income eligibility limits: USDA Income Eligibility
*Note – the up front guarantee fee may be financed into the loan

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarLouisville Kentucky Mortgage Loans

The Kentucky Guaranteed Rural Housing (GRH) Loan Program is designed to assist households in obtaining adequate but modest, decent, safe and sanitary dwellings and related facilities for their own …

Source: The Kentucky Guaranteed Rural Housing (GRH) Loan Program

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

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

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

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans

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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 recommend have a house under contract before that date so you can attempt to secure the $10,0000 Downpayment Assistance Grant. First come, First Serve basis. The last grant like this one was gone within first few hours.

You must have a house under contract and meet the following guidelines below:

  • Zero percent interest rate for Louisville Kentucky first-time home buyers.
  • A non-repayable second mortgage for $10,000.
  • Forgiven after five years.
  • Home purchase must be located in Christian, Hardin, Jefferson, or Kenton counties.
  • Applicants must meet secondary market income and buying limits.
  • Minimum 640 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…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

Can you do a Kentucky VA Cashout Refinance Mortgage Loan Up to 100% of the home’s value?

2016 Kentucky VA Mortgage Changes, credit score, debt ratio, fico score, Fort Knox VA loans, Funding Fee Chart, Guide to Kentucky VA Loans, Kentucky VA Homes for Sale, Kentucky VA Mortgage Calculator, kentucky va mortgage refinance guidelines, refinance, refinance cashout, VA Funding Fee, VA Guidelines, VA mortgage refinancing

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKENTUCKY VA MORTGAGE LENDER

Does VA allows 100% equity  Cash-Out on Refinances for Kentucky VA Mortgages?

Yes is the simple answer, but a lot of VA lenders will only go to 90%, so be careful shopping out there for quotes and qualifying info.

VA allows Kentucky VA Mortgage holders and veterans to finance 100% of the purchase price of a home, but they also allow Kentucky VA Mortgage veterans to take cash-out up to 100% of the value of their home! You are still subject to the funding fee unless disabled, and the cash out maybe limited in hand depending on your credit score.

  • Cash-Out Refinance up to 100% .Higher Credit Scores may be needed to get cash in hand after paying off existing mortgage. Subject to debt to income limits and acceptable appraisal. VA termite required again.
  • Min FICO 620 with no bankruptcies or foreclosure last 2 years
  • Max Loan Amount subject to VA…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

Kentucky Housing Offering 2% fixed 30 year fixed rate home loans for Kentucky First Time Home Buyers with household incomes less than $35,000

Down payment, Fannie Mae, Federal Housing Administration, FHA loan, First-time buyer, Freddie Mac, Interest rate, Kentucky, Kentucky-Louisville, khc, KHC’s (Kentucky Housing ) First Mortgage Government, Loan, Louisville Kentucky, Louisville Kentucky First Time Home Buyer, Mortgage loan, Real Estate, USDA, VA loan, Zero down home loans.