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

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

Kentucky USDA Rural Housing Property Standards for the Guarantee Home Loan Program

502 Guaranteed LoanAppraisalsGuaranteed Section 502 LoansHomes for Sale (Foreclosures owned by USDA/RHS KYHomes for Sale in Kentucky by USDAkentucky first time home buyerProperty EligilibityProperty/Appraisal Requirements for USDA LoanRural Development loanseptic testUSDAwell test

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

    Sites must be modest and developed in accordance with any standards imposed by a State or local government. Therefore, the lender must verify that the following requirements are met at the…

Source: Kentucky USDA Rural Housing Property Standards for the Guarantee Home Loan Program

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

Kentucky FHA Mortgage Loan Updates For You

Joel Lobb
Senior Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
10602 Timberwood Circle, Suite 3
Louisville, KY 40223

phone: (502) 905-3708
Fax: (502) 327-9119
kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

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

Kentucky FHA Mortgage Loan Updates For You

Full commissioned buyer with 1 year on the job pre-approved:  FHA will allow for a borrower to only be commissioned sales for 1 year!
FHA’s new student loan guideline:  FHA’s new bulletin announces that lenders can no longer use an IBR (Income Based Repayment) for figuring student loan payments effective 6/30/16!  This hurts but there is some good news in the announcement.

When does FHA 3 year foreclosure date start?  FHA allows for a foreclosure to be 3 years ago.  The 3 years starts on the date which the former home was deeded out of the borrower’s name and the FHA case file number must be assigned 3 years after that date.

important information

  • DO NOT quit your job or open any new debts as it could deny your loan! – believe it or not borrowers do this…

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

Student Loans and their Impact in the Total Debt Ratio for a Kentucky Rural Housing USDA Loan Approval

Kentucky USDA/Rural Development Changes for Student Loans in 2016
Student Loans and their Impact in the Total Debt Ratio for a USDA Home Mortgage in Kentucky

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

Student Loans and their Impact in the Total Debt Ratio for a USDA Home Mortgage in Kentucky Recent updates to the 3555 Handbook intended to simplify guidance for the delivery of the guarante…

Source: Student Loans and their Impact in the Total Debt Ratio for a Kentucky Rural Housing USDA Loan Approval

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

KY USDA Rural Housing Update 2016

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

Louisville, Kentucky VA Loan Requirements for 2016

Net Tangible Benefit Form
The Net Tangible Benefit Form for FHA Streamline loans has been updated to reflect all potential methods of meeting the current FHA Net Tangible Benefit requirement. The updated form has been uploaded to guidelines and can be found HERE. This version of the form should be used going forwards.

Clarification of FHA Definition of “Family Member”
In all instances where FHA uses the term “Family Member”, it is defined as any of the following:

Child: defined as any son, stepson, daughter, stepdaughter, or foster child
Parent: including step-parents and foster parents
Grandparent: including step-grandparents and foster grandparents
Sibling: defined as any brother, stepbrother, sister, or stepsister
Uncle
Aunt
Legally adopted son or daughter, including a child who is placed with the borrower by an authorized agency for legal adoption
Spouse or domestic partner
In-Laws: defined as any son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law of the borrower

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans down payment grant, FHA, first time buyer kentucky, First Time Home Buyer, Gift funds, Grants And Down payment Assistance, Kentucky Housing, KY FHA LOANS

Kentucky $15,000 Down payment Assistance Grant For Kentucky Home Buyers in 2016

 

 

New Income Limits for Jefferson County Kentucky and Louisville Home Buyers lacking a down payment.

The new income limits for Kentucky Housing loans are based on annual borrower income, and vary by county. Here’s how they break down for Central Kentucky and the Louisville area:

  • Purchase price up to $294,000 with Secondary Market and max household income is limited to $112,000 with MRB for Jefferson County Kentucky. No homeownership in last 3 years and a minimum credit score of 640. Max debt to income ratios of 40 an 45%

khcdapmarhta

 

 

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Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 

phone: (502) 905-370
 
Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans KY FHA LOANS

What are the property requirements for a USDA Rural Housing Loan in Kentucky?

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

LOUISVILLE, KENTUCKY FIRST-TIME HOME BUYER WHO COULD USE $15,000 IN FREE DOWN PAYMENT MONEY and 0% interest. Have you been waiting to buy a home?

This is truly a once in a lifetime gift and the money is first come first serve. You must have an accepted contract by January 20th to have the best chance at receiving the funds!

Questions and Answers below about the HHF DAP $15,000 Down payment assistance:

I have a buyer wanting to participate in the upcoming HHF DAP program. How do they register or apply? Have to wait until January 20, 2016 to register with KHC for first and DAP

Can we apply for it now or do we have to wait until January 20, 2016? WAIT

Do we register the loan like a regular dap loan? YES-but wont have the option to reserve until January 20, 2016

Lastly, do they have to have a house under contract? YES. Contract and application date can be before the loan reservation.
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