http://www.mylouisvillekentuckymortgage.com/
Best Mortgage Lenders in Kentucky with Joel Lobb
Are you a prospective homebuyer in Kentucky searching for the best mortgage lenders? Look no further than Joel Lobb, a trusted mortgage broker with a proven track record of helping clients secure competitive mortgage rates and financing options. With Joel Lobb by your side, you can access top-notch mortgage lenders in Kentucky and make your dream of homeownership a reality.
Joel Lobb has established strong relationships with a network of reputable mortgage lenders in Kentucky, offering a wide range of loan programs to suit your unique needs and financial goals. Whether you’re a first-time homebuyer, a seasoned investor, or looking to refinance your existing mortgage, Joel Lobb can connect you with the best mortgage lenders that offer:
When it comes to finding the best mortgage lenders in Kentucky, Joel Lobb stands out as a trusted advisor and advocate for his clients’ best interests. With Joel Lobb’s expertise and industry knowledge, you can navigate the complex world of mortgage lending with confidence and achieve your homeownership goals.
Contact Joel Lobb today to learn more about the best mortgage lenders in Kentucky and start your journey towards owning the perfect home for you and your family.
http://www.mylouisvillekentuckymortgage.com/
first-time home buyers in Kentucky. Joel Lobb
Joel Lobb specializes in a wide array of mortgage loans, including:
– **FHA Loans**: These loans are a great fit for buyers with lower credit scores or those who can afford only a minimal down payment.
– **VA Loans**: Tailored for veterans and active military members, offering favorable terms with little to no down payment.
– **USDA Loans**: Designed for rural home buyers, providing 100% financing options.
– **KHC Loans**: In collaboration with the Kentucky Housing Corporation, these loans come with down payment assistance, making them ideal for first-time buyers.
1. Don’t change jobs or become self-employed.
2. Don’t buy a car, truck, van, boat or motorhome unless you plan to live in it.
3. Don’t use your credit cards or let your payments fall behind.
4. Don’t spend the money you have saved for your down payment.
5. Don’t buy furniture before you buy your house.
6. Don’t originate any new inquiries on your credit report.
7. Don’t make any LARGE or CASH deposits into your bank account.
8. Don’t change bank accounts.
9. Don’t co-sign for anyone.
10. Don’t purchase anything until after the closing.
Kentucky Mortgage Pre-Approval Checklist of Items Needed for Approval Letter
Bank Statements - Last 2 Months – All bank statements for all accounts from the last 2 months. Include all numbered pages of all bank statements!
Driver's License – Legible state-issued driver's license
Evidence of Insurance – For all properties owned
Federal Tax Returns - Last 2 Years – Last 2 years of federal tax returns to prove income, include all schedules
HOA statement (if applicable) – Most current statement
Loan Application (1003) – Please complete all fields
Mortgage Statement(s) – Most recent for all properties owned
Pay Stubs - Received in Last 30 Days – Last 30 days of pay stubs to prove income
Social Security Card – Legible social security card to prove social security number
W-2s - Last 2 Years – Last 2 years of W-2s to prove income
| Loan type | Credit score minimum |
|---|---|
| Conventional loan | 620 or 660 depending on program |
| FHA loan | 580 (or 500 with a minimum 10 percent down payment) |
| VA loan | No official requirement, but typically 620 |
| USDA loan | No official requirement, but typically 640 |
Fannie Mae and Freddie Mac each back conventional loans with a lower minimum credit score: 620 and 660, respectively. Both of these loans require just 3 percent down.
The Federal Housing Administration (FHA) insures FHA loans, which allows mortgage lenders to accept a credit score as low as 580 with a 3.5 percent down payment, or 500 with a 10 percent down payment.
If you’re a military member, a veteran or married to someone who has served in the armed forces, you could benefit from a VA loan backed by the U.S. Department of Veterans Affairs. You don’t have to meet a specific credit score minimum to qualify, although many lenders do require at least 620.
If you have a lower income and want to buy a home in a particular rural area, look into a USDA loan. While not a hard-and-fast rule, most USDA-approved lenders require a minimum credit score of just 640.
American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364
Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com
Kentucky FHA Mortgage Lender 