First Time Home Buyer Programs Louisville Kentucky.
via First Time Home Buyer Programs Louisville Kentucky.
Louisville Kentucky Mortgage Rates
Louisville Kentucky Mortgage Rates.
via Louisville Kentucky Mortgage Rates.
Joel Lobb
Senior Loan Officer
Senior Loan Officer
(NMLS#57916)
phone: (502) 905-3708
Fax: (502) 327-9119
Frequently Asked Questions about FHA Kentucky Home Loans
Frequently Asked Questions about FHA Kentucky Home Loans.
via Frequently Asked Questions about FHA Kentucky Home Loans.
FHA to 50%…up to 55% with comp factors and a strong borrower
Manual UW’s on FHA/ to 620 Score
FHA purchases and R/t refi’s down to a 580 with DU Approved Eligible
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Joel Lobb
Senior Loan Officer
Senior Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
phone: (502) 905-3708
Fax: (502) 327-9119
Company ID #1364 | MB73346
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 FHA Credit Score Requirements for 2014, Based on Lender Feedback
FHA Minimum FICO
FICO 620-639 will be allowed as long as the borrower has an Approve through DU . Manually underwritten loans will still be capped at a minimum FICO of 640.
Joel Lobb is a Licensed Mortgage Originator: NMLS #57916. Key Financial Mortgage NMLS # 1800 is a licensed Mortgage Broker Company in the State of Kentucky
Legal Disclaimer
*
This web site is not the FHA, VA, USDA, HUD or any other government organization responsible for managing, insuring, regulating or issuing residential mortgage loans.
**Download Fair Housing Booklet – CLICK HERE
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.
Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com
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 FHA Mortgage Lender 