Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans FHA Back to Work Program Ky, first time buyer, first time buyer kentucky, First Time Home Buyer, Kentucky Housing, KY FHA LOANS, Louisville Ky Home Loans

First Time Home Buyer Programs Louisville Kentucky

First Time Home Buyer Programs Louisville Kentucky.

via First Time Home Buyer Programs Louisville Kentucky.

 

 

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

First Time Home Buyer Programs Louisville Kentucky

First Time Home Buyer Programs Louisville Kentucky

First Time Home Buyer Programs Louisville Kentucky.

via First Time Home Buyer Programs Louisville Kentucky.

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans Bankruptcy, credit scores, Credit Scores/Credit Reports, foreclosure, HUD Foreclosure, short sales

Kentucky FHA Loan Guidelines for Foreclosure and Short Sale

Kentucky FHA Loan Guidelines After Bankruptcy, Foreclosure, or Short Sale

If you’ve experienced a bankruptcy, foreclosure, or short sale in the past, you may still be able to qualify for a Kentucky FHA loan. Here are the current waiting period guidelines you need to know:

  • Foreclosure: 3-year waiting period from the foreclosure completion date (when the property is transferred back to the lender) as reported on your credit report.
  • Short Sale: 3-year waiting period from the title transfer date.
  • Chapter 7 Bankruptcy: 2-year waiting period from the discharge date. Note: If a property was surrendered in the Chapter 7 bankruptcy, it may be treated as a foreclosure, which could extend the waiting period.
  • Chapter 13 Bankruptcy: 1-year wait with a scheduled payment plan, provided the liabilities are factored into your debt-to-income ratio and bankruptcy court approval is obtained — OR 2 years from the discharge date.

Don’t let past financial hardships stop you from achieving the dream of homeownership. I’ve helped hundreds of Kentucky families in similar situations successfully get approved for FHA loans. Reach out today — let’s talk about your options.

Joel Lobb
Mortgage Loan Officer — Kentucky FHA Loan Expert
NMLS #57916 | Company NMLS #1738461

📞 (502) 905-3708 — Call or Text
📧 kentuckyloan@gmail.com
🌐 www.mylouisvillekentuckymortgage.com

Equal Housing Lender. Kentucky Mortgage Loans Only.

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans FHA, fha mortgage insurance premiums, mi changes for FHA, mip, Mortgage Insurance UFMIP

FHA’s Galante Offers Alternatives to Rolling Back MI Premiums

The Department of Housing and Urban Development is pushing back against industry groups calling for the Federal Housing Administration to reduce or rebalance its mortgage insurance premiums. Three industry groups have urged FHA to rebalance its 1.35% annual MI premium and its 1.75% upfront MI premium to make FHA loans more affordable. But such a change would reduce FHA revenue. The commissioner stressed that it’s important to strengthen the FHA single-family mortgage insurance fund and find other ways to increase access to credit. “We must do both,” she told attendees at the Mortgage Bankers Association’s Washington Policy Conference. HUD is moving ahead with a housing counseling program called HAWK (Homeowners Armed with Knowledge) that will reward FHA borrowers that receive counseling.

via FHA’s Galante Offers Alternatives to Rolling Back MI Premiums.

 

 

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans Collections Accounts, credit scores, Credit Scores/Credit Reports, FHA, FHA Guidelines, fico score, first time buyer, First Time Home Buyer, Kentucky FHA Important Links, KY FHA LOANS, Louisville Ky Home Loans

Wells Fargo cheered by Realogy, Home Depot leaders for loosening up on FHA loans | Inman News

Wells Fargo cheered by Realogy, Home Depot leaders for loosening up on FHA loans | Inman News.

via Wells Fargo cheered by Realogy, Home Depot leaders for loosening up on FHA loans | Inman News.

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

FHA-backed mortgages will be halted in a shutdown | Money – WYFF Home

FHA-backed mortgages will be halted in a shutdown | Money – WYFF Home.

 

The good news is that most government-backed home loans – those purchased and securitized by Fannie Mae and Freddie Mac – will be unaffected by a shutdown. Those companies pay for their operations out of the fees that they charge lenders.

The bad news is that loans guaranteed by the Federal Housing Administration, the Veteran’s Administration and the rural development loans of the United States Department of Agriculture, won’t be processed. If an application for an FHA-insured loan has not been approved by the time of the shutdown, it will have to wait until after the shutdown ends.

FHA-backed loans accounted for 45% of all mortgages used to purchase homes issued in 2012, according to the Federal Reserve. The FHA alone insures about 60,000 loans a month.

 

 

Read more: http://www.wyff4.com/news/money/FHA-backed-mortgages-will-be-halted-in-a-shutdown/-/9323996/22157598/-/fkmhqwz/-/index.html#ixzz2gWiF9kf7

 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

 

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

FHA Mortgages

FHA Mortgages.

via FHA Mortgages.

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

FHA vs. Conventional Mortgage: Should I Refinance?

FHA vs. Conventional Mortgage: Should I Refinance?.




Federal Housing Administration. FHA loans, which allow as little as 3.5 percent down, have traditionally been the go-to source for buyers with low down payments.
FHA loans have the advantage of allowing down-payment money from a gift or grant from other agencies.
The rising costs of FHA loans and the mortgage insurance that is required of FHA borrowers, though, have made the loans less attractive. In addition, the insurance premium on new FHA loans, unlike on other loans, is for the life of the loan.
• Veterans Affairs. VA loans, which are available to active or honorably discharged veterans and their spouses, require no down payment and no private mortgage insurance
• U.S. Department of Agriculture. Like VA loans, USDA loans require no down payment. They are available only in areas considered rural by the federal government, have income restrictions and can carry large upfront fees.
 Conventional loans. Conventional loans have gotten more flexible for those who can’t afford a full 20 percent down.
Many banks will lend up to 90 or even 95 percent of the property’s value. Such loans require a monthly private mortgage insurance fee, but the cost of such insurance has dropped while the cost of FHA insurance has risen, making conventional loans more attractive for those who can’t put 20 percent down.
Generally, the better a borrower’s credit score and the lower the debt-to-income ratio, the more likely a lender will allow a lower down payment.
“Conventional mortgage insurance now is much less expensive than FHA insurance,” Pausche said. “If you have the credit scores to qualify conventionally, it may be cheaper to put down 5 percent instead of going with FHA.”
In addition, Fannie Mae, the federal buyer of home mortgages, offers a program called My Community Mortgage that allows low- to moderate-income buyers to put down as little as 3 percent on a home.
Freddie Mac offers a similar program called Home Possible that allows buyers into homes with as little as 5 percent down, all of which can come from gifts.
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

 



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Posted By Blogger to Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage at 7/28/2013 10:11:00 AM

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

Louisville Kentucky FHA Loan Streamline Refinance

FHA Loan Streamline Refinance Program Is Helping USA Homeowners to Refinance Mortgage with Lower Mortgage Payments (via SBWire)

Market And The Mortgage Rate Prevalent In The Market Tend To Change Constantly. Today, Due To The Drastic Drop In The Housing, Millions Of People Are Suffering From Declined Worth Of Their Homes. In Order To Allow Them To Refinance Their Mortgage, FHA…

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Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans mi changes for FHA, mip, Mortgage Insurance UFMIP

Understanding PMI

Understanding PMI.

via Understanding PMI.

Understanding PMI

Trust me for your next FHA loan Call 502-905-3708
Trust me for your next FHA loan Call 502-905-3708

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Steps for refinancing FHA Mortgage Loans

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