How to qualify for a Kentucky mortgage
The type of mortgage you’re applying for determines the minimum requirements you’ll have to meet for your down payment, credit score, and debt-to-income ratio.
Find out what type of loan you might qualify for or what aspects of your finances you’ll need to improve to get a better shot at qualifying for a mortgage.
Loan Type Min. Down Payment Min. Credit Score Max DTI Property Type Conventional 3% 620 45% Primary, secondary, investment VA 0% none none Primary FHA 3.5% 500 50% Primary USDA 0% none 41% Primary Keep in mind: The minimum down payment, minimum credit score, and maximum DTI shown in the table apply to mortgages used to purchase a primary residence. While you can use a conventional loan or a jumbo loan to purchase a home for another purpose, you might need a larger down payment, a higher credit score, more cash reserves, or all three.
Credit score needed to buy a house
Mortgage lending is risky, and lenders want a way to quantify that risk. They use your three-digit credit score to gauge the risk of loaning you money since your credit score helps predict your likelihood of paying back a loan on time. Lenders also consider other data, such as your income, employment, debts and assets to decide whether to offer you a loan.
Different lenders and loan types have different borrower requirements, loan terms and minimum credit scores. Here are the requirements for some of the most common types of mortgages.
Conventional loan
Minimum credit score: 620
A conventional loan is a mortgage that isn’t backed by a federal agency. Most mortgage lenders offer conventional loans, and many lenders sell these loans to Fannie Mae or Freddie Mac — two government-sponsored enterprises. Conventional loans can have either fixed or adjustable rates, and terms ranging from 10 to 30 years.
You can get a conventional loan with a down payment as low as 3% of the home’s purchase price, so this type of loan makes sense if you don’t have enough for a traditional down payment. However, if your down payment is less than 20%, you’re required to pay for private mortgage insurance (PMI), which is an insurance policy designed to protect the lender if you stop making payments. You can ask your servicer to cancel PMI once the principal balance of your mortgage falls below 80% of the original value of your home.
FHA loan
Minimum credit score (10% down): 500
Minimum credit score (3.5% down): 580
FHA loans are backed by the Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD). The FHA incentivizes lenders to make mortgage loans available to borrowers who might not otherwise qualify by guaranteeing the federal government will repay the mortgage if the borrower stops making payments. This makes an FHA loan a good option if you have a lower credit score.
FHA loans come in 15- or 30-year terms with fixed interest rates. Unlike conventional mortgages, which only require PMI for borrowers with less than 20% down, all FHA borrowers must pay an up-front mortgage insurance premium (MIP) and an annual MIP, as long as the loan is outstanding.
VA loan
Minimum credit score: N/A
VA loans are mortgages backed by the U.S. Department of Veterans Affairs (VA). The VA guarantees loans made by VA-approved lenders to qualifying veterans or service members of the U.S. armed forces, or their spouses. This type of loan is a great option for veterans and their spouses, especially if they don’t have the best credit and don’t have enough for a down payment.
VA loans are fixed-rate mortgages with 10-, 15-, 20- or 30-year terms.
Most VA loans don’t require a down payment or monthly mortgage insurance premiums. However, they do require a one-time VA funding fee, that ranges from 1.4% to 3.6% of the loan amount.
USDA loan
Minimum credit score: N/A
The U.S. Department of Agriculture guarantees loans for borrowers interested in buying homes in certain rural areas. USDA loans don’t require a minimum down payment, but you have to meet the USDA’s income eligibility limits, which vary by location.
All USDA mortgages have fixed interest rates and 30-year repayment terms.
USDA-approved lenders must pay an up-front guarantee fee of up to 3.5% of the purchase price to the USDA. That fee can be passed on to borrowers and financed into the home loan. If the home you want to buy is within an eligible rural area (defined by the USDA) and you meet the other requirements, this could be a great loan option for you.
What else do mortgage lenders consider?
Your credit score isn’t the only factor lenders consider when reviewing your loan application. Here are some of the other factors lenders use when deciding whether to give you a mortgage.
- Debt-to-income ratio — Your debt-to-income (DTI) ratio is the amount of debt payments you make each month (including your mortgage payments) relative to your gross monthly income. For example, if your mortgage payments, car loan and credit card payments add up to $1,800 per month and you have a $6,000 monthly income, your debt-to-income ratio would be $1,800/$6,000, or 30%. Most conventional mortgages require a DTI ratio no greater than 36%. However, you may be approved with a DTI up to 45% if you meet other requirements.
- Employment history — When you apply for a mortgage, lenders will ask for proof of employment — typically two years’ worth of W-2s and tax returns, as well as your two most recent pay stubs. Lenders prefer to work with people who have stable employment and consistent income.
- Down payment — Putting money down to buy a home gives you immediate equity in the home and helps to ensure the lender recoups their loss if you stop making payments and they need to foreclose on the home. Most loans — other than VA and USDA loans — require a down payment of at least 3%, although a higher down payment could help you qualify for a lower interest rate or make up for other less-than-ideal aspects of your mortgage application.
- The home’s value and condition — Lenders want to ensure the home collateralizing the loan is in good condition and worth what you’re paying for it. Typically, they’ll require an appraisal to determine the home’s value and may also require a home inspection to ensure there aren’t any unknown issues with the property.
Federal Housing Administration (FHA) has announced, effective for case numbers endorsed on and after 03/20/2023, a 30 basis point reduction in the annual premium charged to mortgage borrowers.
FHA – Annual MIP Reduction
The Federal Housing Administration (FHA) has announced, effective for case numbers endorsed on and after 03/20/2023, a 30 basis point reduction in the annual premium charged to mortgage borrowers.
The cut, widely anticipated by the industry, will result in mortgage insurance premiums (MIP) of 55 bps for most borrowers, down from 85. The reduction also amends the Base Loan amount threshold used to establish MIP rates to the national conforming loan limit of $726,200, which increased from $625,500. Please refer to the following for the 03/20/2023 Annual Mortgage Insurance Premium MIP reduction:
- FHA Loans with Terms > 15 Years
- Base loan Amount and LTV:
- Less than or equal to $726,200
- ≤ 90.00% (50 bps) 11 years
- > 90.00% but ≤ 95.00% (50 bps) Mortgage term
- > 95.00% (55 bps) Mortgage term
- Greater than $726,200
- ≤ 90.00% (70 bps) 11 years
- > 90.00% but ≤ 95.00% (70 bps) Mortgage term
- > 95.00% (75 bps) Mortgage term
- Less than or equal to $726,200
- Base loan Amount and LTV:
- FHA Loans with Terms < 15 Years
- Base loan Amount and LTV:
- Less than or equal to $726,200
- ≤ 90.00% (15 bps) 11 years
- > 90.00% (40 bps) Mortgage term
- Greater than $726,200
- ≤ 78.00% (15 bps) 11 years
- > 78.00% but ≤ 90.00% (40 bps) 11 years
- > 90.00% (65 bps) Mortgage term
- Less than or equal to $726,200
- Base loan Amount and LTV:
Please Note:
- There is no change to the Upfront Mortgage Insurance Premium (UFMIP). This remains at 175 Basis Points (bps) (1.75%) of the Base Loan Amount
- The MIP reduction applies to all Title II mortgages except Streamline Refinance and Simple Refinance Mortgages used to refinance a previously FHA endorsed Mortgage on or before May 31, 2009.
Lower Mortgage Insurance Premiums on Kentucky FHA loans in 2023
On February 22, 2023, HUD announced a 30 basis point MIP reduction on certain Kentucky FHA loans. According to the government agency, an estimated 850,000 borrowers could benefit this coming year, and the average Kentucky FHA homeowner will save $800 annually.
What you need to know:
- The new rate is effective on loans endorsed for insurance by FHA on or after March 20, 2023.
- Current clients could refinance to lower their monthly payments or shorten their term.
- A lower MIP could open the door for more homebuyers who previously could not qualify.
- FHA loans have many benefits, including flexible qualifications and low down payment requirements, and they allow for down payment assistance. Plus, there are no appraisal fees on a streamline refinance.
Contact your borrowers and prospects who are currently in an Kentucky FHA loan or could benefit from one to discuss how this change can work to their advantage.
FHA Reduces Annual Mortgage Insurance Premiums
by 30 Basis Points to Support Affordable Homeownership
The Federal Housing Administration (FHA) announced today through Mortgagee Letter 2023-05 a 30 basis point reduction to the Annual Mortgage Insurance Premiums (annual MIP) it charges borrowers for FHA-insured Single Family Title II forward mortgages. This reduction supports the Biden-Harris Administration’s goals of making homeownership more accessible and affordable for the nation’s homebuyers. FHA mortgage insurance facilitates broader availability of mortgage financing to those not adequately served by the conventional mortgage market, particularly households of color for whom FHA-insured mortgages have been a cornerstone of access to affordable homeownership.
Today’s Mortgagee Letter provides additional information for mortgagees to implement the annual MIP reductions effective for mortgages endorsed for FHA insurance on or after March 20, 2023.
FHA estimates this reduction will benefit approximately 850,000 borrowers over the coming year, saving them $678 million in aggregate in the first year of their FHA-insured mortgage. For the average borrower purchasing a one-unit single family home with a down payment of 3.5 percent and a mortgage amount of $467,700 the national median home price as of December 2022 – FHA’s annual MIP reduction will save them more than $1,400 in the first year of their mortgage.
Wednesday, the Biden-Harris Administration announced reduced costs for FHA-backed mortgages.
In lowering annual mortgage insurance premiums 0.30 percentage points, the government makes homeownership more affordable and attainable for first-time buyers.
How does Flood Insurance Affect A Kentucky FHA Mortgage Loan Approval?
Here are the facts about flood insurance in regards to FHA mortgage loans in Kentucky:
- A lender will require if the Kentucky home mortgage property is in a flood zone. High-Risk areas are A or V. Zone X doesn’t require it.
- The flood zone is based on local elevation certificates. Sometimes the surveys on these certificates are old, and updates can be requested. There is usually a cost involved, but it can lower the Zone so it may be worth it.
3. Kentucky Insurance companies think of floods as very different than the general public. Most people think flooding is when a body of water rises and gets into your house. Floods are defined as any ground-water entering a house from the outside. Even if you are not in a flood zone, groundwater damage won’t be covered by homeowner’s insurance.
4. Kentucky Flood insurance is priced by FEMA regardless of what the company writes it. All rates will be the same and shopping won’t help. If one company has different rates, it will always be a difference in coverage.
5. Flood insurance in Kentucky flood zones are expensive, but outside flood zones, it is more cost-effective. This is up to the individual to decide whether they want it or not.
6. Flood insurance coverage does not begin until 30 days after the policy is bound and the Kentucky Mortgage has closed. New Purchase no waiting period.
7. Kentucky Flood insurance costs are higher for non-owner-occupied property such as rental property.
8. A customer in Kentucky can mitigate costs by only covering the property structure or contents only in the lowest floor.
What is the mobile home or manufactured home is located in a Flood Zone for a Kentuck FHA Mortgage Loan Approval?
If the finish grade beneath the Kentucky Mobile Home or manufactured home is at or above the 100 yr return frequency flood elevation, so the only other option to be eligible for FHA financing is if a LOMA is issued by FEMA. Like I said, I do not know if FEMA will issue a LOMA, but worth a try. Here are Kentucky FHA guidelines for mobile homes in Flood plains
(d) Eligibility for Manufactured Housing in SFHAs The finished grade level beneath the Manufactured Home must be at or above the 100-year return frequency flood elevation. If any portion of the dwelling, related Structures or equipment essential to the Property Value and subject to flood damage for both new and existing Manufactured Homes are located within an SFHA, the Property is not eligible for Kentucky FHA mortgage insurance unless the Mortgagee obtains:
- a FEMA issued LOMA or LOMR that removes the Property from the SFHA; or
- a FEMA National Flood Insurance Program (NFIP) Elevation Certificate (FEMA Form 086-0-33) prepared by a licensed engineer or surveyor stating that the finished grade beneath the Manufactured Home is at or above the 100-year return frequency flood elevation, and insurance under the NFIP is obtained.
When making a determination for flood insurance purposes, the controlling document is the current effective Flood Insurance Rate Map. FEMA understands that sometimes structures will be shown to fall within the flood hazard area on the flood map when in reality the structure is elevated above the flood hazard. FEMA has created a process called the Letter of Map Amendment (LOMA) where they will review the elevation of the structure to determine if it can be removed from the flood hazard.
FEMA specifically reviews the Lowest Adjacent Grade and compares it to the Base Flood Elevation. Unfortunately, because FEMA says the FIRM is the controlling document, SLNF is not able to revise our determination until FEMA has amended the FIRM through the LOMA process. Because the elevation certificate has already been obtained, there will not be any additional cost to apply for the LOMA.
Below is a link to the FEMA website, where an instruction packet (How to fill it out, what to include, and where to send it) and the application can be found for the LOMA. You may also call the FEMA Map Information Exchange at (877) FEMA MAP with questions regarding the LOMA process.
The LOMA process generally takes 6-8 weeks to complete. The current year’s insurance premiums will be refundable through the National Flood Insurance Program (NFIP) if a LOMA removal is issued for the structure. Please let us know if you have any questions.
http://www.fema.gov/letter-map-amendment-letter-map-revision-based-fill-process
HUD INCREASES FLOOD INSURANCE OPTIONS FOR KENTUCKY HOMEOWNERS WITH KENTUKY FHA MORTGAGES LIVING IN FLOOD AREAS
Federal Housing Administration to allow private flood insurance policies on insured single-family mortgages in special flood hazard areas
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), is announcing today that effective December 21, 2022, it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers. The change was announced through a final rule published in the Federal Register today and in a companion Mortgagee Letter, also published today, that provides implementation guidance for FHA-approved lenders.
FHA requires that insured mortgages for properties in Federal Emergency Management Agency (FEMA)-designated Special Flood Hazard Areas (SFHAs) have flood insurance. Previously, only flood insurance obtained through the National Flood Insurance Program (NFIP) was permissible for FHA-insured mortgages, which limited choices for consumers.
“Today, HUD is increasing the flood insurance choices available to individuals and families with FHA-insured loans in areas that FEMA has designated to be at special risk for flooding,” said HUD Secretary Marcia L. Fudge. “Flood insurance is required to ensure families and individuals are prepared if disaster strikes. Increasing consumer options for this important protection is one way we are building more resilient communities in the face of climate change.”
“We know borrowers face affordability challenges right now, yet a flood can be devastating to a family who is not properly insured,” said Federal Housing Commissioner Julia Gordon. “The choice to select a private flood insurance option may enable some borrowers to obtain policies that are less expensive or provide enhanced coverage.”
As part of its implementation, as of December 21, 2022, FHA will require lenders to provide detailed flood insurance coverage information when electronically submitting mortgages for FHA insurance on properties in SFHAs. This data collection is an objective included in HUD’s Climate Action Plan and will allow FHA to capture and analyze flood insurance information on mortgages in its portfolio at a more granular level than has been possible previously.
Ensuring that borrowers are protected against flood risk is a key component of HUD’s Climate Action Plan. In 2021, HUD released its Climate Action Plan in response to President Biden’s Executive Order on Tackling the Climate Crisis at Home and Abroad. HUD has been implementing this broad approach to the climate crisis that reduces climate pollution; increases resilience to the impacts of climate change; protects public health; delivers environmental justice; and spurs well-paying union jobs and economic growth. The action today further guides the integration of climate resilience and environmental justice into HUD’s core programs and policies. For more information about HUD’s work to advance sustainable communities and address climate change, visit hud.gov/climate.
#fha #fhaloans #fhaloan #floodinsurance #mortgage #homeloan #homebuying #homebuyingtips
Joel Lobb
Mortgage Loan Officer
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
Text/call: 502-905-3708
fax: 502-327-9119
email:kentuckyloan@gmail.com
email:kentuckyloan@gmail.com
Read More at the Links below about qualifying for an FHA Loan in Kentucky?
👇👇👇👀👀👀
FHA Announces Consideration of Positive Rental Payment History for First Time Homebuyers
The Federal Housing Administration (FHA) Mortgagee Letter (ML) 22-17 announced that FHA’s Technology Open To Approved Lenders (TOTAL) Mortgage Scorecard will begin scoring a borrower’s positive rental payment history as part of the credit risk analysis when they are applying for FHA-insured financing.
TOTAL will begin scoring on or after October 30, 2022, as well as for case numbers assigned on or after September 20, 2021, allowing lenders to implement the guidance on existing pipeline cases without the need to obtain a new case number.
Kentucky FHA Appraisal Requirements for Validity Period
The following update aligns with FHA Mortgagee Letter 2022-11 and is effective for all FHA loans with case numbers assigned on and after June 1, 2022.
Appraisal Validity Period
Loans with case numbers assigned prior to June 1, 2022
Loans with case numbers assigned on and after June 1, 2022
• The initial appraisal validity period is 120 days from the effective date of the appraisal.
• The 120-day validity period may be extended for 30 days at the option of the underwriter if the conditional commitment is issued before the original appraisal expiration date.
• An appraisal update may be used to extend the validity period of the initial appraisal. The appraisal update must be performed before the initial appraisal with no extension has expired.
• When the initial appraisal is updated, the updated appraisal will be valid for 240 days after the initial appraisal effective date.
• The initial appraisal validity period is 180 days from the effective date of the appraisal.
• If the initial appraisal will be more than 180 days at the disbursement date, an appraisal update may be performed to extend the appraisal validity period.
• When the initial appraisal is updated, the updated appraisal will be valid for one year after the initial appraisal effective date.
With these updates, the optional 30-day extension is no longer necessary and has been eliminated. In addition, the requirement for the appraisal update to be performed before the initial appraisal has expired has been removed.
Joel Lobb
Mortgage Loan Officer
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com
email: kentuckyloan@gmail.com
Kentucky FHA Mortgage Loan Lender Guidelines
- fha (27)
- fha credit scores (17)
- FHA Good Neighbor Next Door (2)
- fha income requirements (3)
- FHA Mortgage Insurance 2017 Kentucky FHA Changes Mortgage (1)
- FICO (7)
- fico scores first time home buyer (13)
- first time buyer (3)
- First Time Home Buyers (8)
- foreclosure (5)
- Gaps in Employment (2)
- gift funds (3)
- grants first time home buyer kentucky (2)
- home inspections (1)
- home insurance (1)
- homeready (1)
- income (6)
- inspections for home (1)
- job change (3)
- Job Changes (2)
- job gaps (4)
- job time (4)
- kentucky fha appraisal (3)
- kentucky fha loans (16)
- Kentucky First Time Home buyer zero down payment (21)
- Kentucky first Time Home Buyers (14)
- kentucky housing (1)
- Kentucky USDA Streamline Refinance Pilot (3)
- kentucky va loans (17)
- khc (4)
- khc credit scores (9)
Kentucky FHA Loan Changes for 2022
Here’s what you need to know about Kentucky FHA Loans and the changes that have been made for 2022.
What is a Kentucky FHA loan?
It stands for a Federal Housing Administration loan, meaning it is backed by the U.S. government. It is not made by a government agency. You deal directly with a mortgage lender or broker to get the loan, but the FHA will typically buy the loan from the lender after it is made or guarantee the lender against loss. FHA loans typically require lower down payments and credit scores than most conventional loans, making them a clear favorite among first-time buyers.
What Are the Terms?
These loans can have terms of either 30 years or 15 years. The interest rate is fixed for the entire loan length.
FHA borrowers are required to pay mortgage insurance premiums, but after a borrower’s equity in their home increases they may be able to refinance into a conventional loan and eliminate the monthly mortgage insurance premiums.
What Are the Qualifications?
To qualify for an FHA mortgage, home buyers need a FICO credit score of 580 or higher and a down payment of 3.5% (or a minimum down payment of 10% with a 500 FICO score).
These loans also require a two-year employment and income verification and the property as must be used as a primary residence.
If a borrower has had a bankruptcy, they must wait one to two years depending on if Chapter 13 or Chapter 7 before applying and three years after a foreclosure.
Increased Loan Limits for 2022
In 2022, for most parts of the U.S., Kentucky FHA borrowers can take out a loan for up to $420,680, an increase from 2021’s limit of $356,362.
Does FHA require collections to be paid off for a borrower to be eligible for FHA financing?
A Collection Account refers to a Borrower’s loan or debt that has been submitted to a collection agency by a creditor.
If the credit reports used in the analysis show cumulative outstanding collection account balances of $2,000 or greater, the lender must:
• verify that the debt is paid in full at the time of or prior to settlement using an acceptable source of funds;
• verify that the Borrower has made payment arrangements with the creditor and include the monthly payment in the Borrower’s Debt-to-Income ratio (DTI); or
• if a payment arrangement is not available, calculate the monthly payment using 5 percent of the outstanding balance of each collection and include the monthly payment in the Borrower’s DTI.
If the credit reports used in the analysis show cumulative outstanding collection account balances of $2,000 or greater, the lender must:
• verify that the debt is paid in full at the time of or prior to settlement using an acceptable source of funds;
• verify that the Borrower has made payment arrangements with the creditor and include the monthly payment in the Borrower’s Debt-to-Income ratio (DTI); or
• if a payment arrangement is not available, calculate the monthly payment using 5 percent of the outstanding balance of each collection and include the monthly payment in the Borrower’s DTI.
Collection accounts of a non-borrowing spouse in a community property state must be included in the $2,000 cumulative balance and analyzed as part of the Borrower’s ability to pay all collection accounts, unless excluded by state law. Unless the lender uses 5 percent of the outstanding balance, the lender must provide the following documentation:
• evidence of payment in full, if paid prior to settlement;
• the payoff statement, if paid at settlement; or
• the payment arrangement with creditor, if not paid prior to or at settlement.
For manually underwritten loans, the lender must determine if collection accounts were a result of:
• the Borrower’s disregard for financial obligations;
• the Borrower’s inability to manage debt; or
• extenuating circumstances.
The lender must document reasons for approving a mortgage when the Borrower has any collection accounts. The Borrower must provide a letter of explanation, which is supported by documentation, for each outstanding collection account. The explanation and supporting documentation must be consistent with other credit information in the file.
For additional information see Handbook 4000.1 II.A.4.b.iv.(M); II.A.5.a.iii.(D), II.A.5.a.iv.(O) at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
Joel Lobb
Senior Loan Officer
Senior Loan Officer
(NMLS#57916)
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 view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice.
Kentucky FHA Guideline Update
FHA has published the following guideline updates, which will be effective for all Kentucky FHA loans with case numbers assigned on or after September 9th
- Specific verbiage for Well Water Testing has been added indicating that it must be performed by a disinterested party in a method acceptable to the local health authority. The borrower or any other interested party may not have contact with the sample. Additionally, cases mandating a Well Water Test have been added to include (but not limited to) the following
- Newly constructed properties and/or wells
- Properties with deficiencies in the well or well water as determined by an appraiser
- Areas where water has been reported or is otherwise known to be unsafe
- Properties located in close proximity to dumps, landfills, industrial sites, farms, or other sites that could contain hazardous waste
- Properties where distance between well and septic systems is less than 100 feet
- Clarification issued indicating how to calculate FHA income for Overtime, Bonus, or Tip Income must be calculated using the lesser of
- Average Overtime, Bonus, or Tip income earned over the previous 2 years (or if earned less than 2 years, the total length of time it has been received); OR
- Average Overtime, Bonus, or Tip income earned over the previous year
- All requirements regarding unreimbursed business expenses and Commission Income or Automobile Allowances has been completely removed to align with current IRS tax laws
- Rent Below Fair Market has been defined as an inducement to purchase when the borrower is allowed to live in the property rent free or at a rental amount more than 10 percent under the fair market rent as determined by the appraiser.
- Clarification has been added that Reduction in Term for Kentucky FHA Mortgage Streamline Refinances refers specifically to the reduction of the remaining amortization period of the existing mortgage.
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.
Text or call phone: (502) 905-3708
email me at kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/
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
All approvals and rates are not guaranteed, and are only issued based on standard mortgage qualifying guidelines
Remember, we are even available this weekend for pre-qualifications or questions. Call our cell phone or email us. If you miss us, leave a message and we WILL call you back
Kentucky FHA Mortgage Lender 