Louisville Kentucky Mortgage Rates

Louisville Kentucky Mortgage Rates


Louisville Kentucky Mortgage Rates

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I am available from 9 AM to 9 PM daily, including weekends. I make every effort to take all calls and respond to email promptly

 

15 Year Fixed Conventional                    3.000%            3.274% apr

30 Year Fixed Conventional                    3.750%            4.187% apr

30 Year Fixed Kentucky FHA                  3.250%            5.187%apr

30 Year Fixed Kentucky USDA                3.250%            3.971% apr

30 year Fixed Kentucky VA                      3.250%             3.784% apr

*Rates vary by geographic location, loan amount and credit qualifications. Rates are subject to daily changes without notice and may not be available at the time of closing. This does not constitute an offer to lend. All loans are subject to credit, income and asset verification. All rates are based on 1st Lien, 360 month term. Conventional rates based on $165K loan amount, 740 FICO and 80% LTV. FHA rates based on $165K loan amount, 740 FICO and 96.5% LTV. Non-conforming rates based on $420K loan amount, 740 FICO and 80% LTV. Interest rates assume a debt obligation of no more than 36%. County restrictions may apply. For a $165,000.00 mortgage loan at a rate of 4.000% (4.130% APR), with a loan-to-value (LTV) of 80%, you would make 360 payments of $787.74. The payment amount would differ if you choose a different loan amount. Payment amount does not include taxes, insurance, flood insurance, and/or mortgage insurance.
Kentucky Mortgage  Rates are subject to qualifying criteria and Mortgage Rates can change without notice.
Assumptions include a 640 or higher credit score for FHA, USDA, KHC,  and 620 credit scores for a VA loan. A loan amount of $100,000.00 is assumed and a 30 day lock required for a Kentucky Mortgage Only.
A 720 credit score or higher is assumed for a Kentucky  Conventional Rate Mortgage loanrates and a loan amount of $100,000.00. The loan to value for Kentucky Conventional loans are assumed at 80% ltv or less.
                         Kentucky  USDA loans require a funding fee upfront and a monthly mortgage insurance premium paid to RHS/USDA. The premium varies based on the loan characteristics, your credit score,    and other factors.
 
 
 

 
This website  is not a part of, nor are we affiliated with, the VA, FHA/HUD, USDA.  Joel Lobb (NMLS#57916) is a licensed mortgage loan officer in the state of Kentucky
 
  HUD Settlement Cost Booklet | CHARM Booklet
Company NMLS Consumer Access Page
 
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Joel Lobb
Senior  Loan Officer

(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 CONFIDENT

>Kentucky First Time Home Buyer Programs 2011


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http://www.mylouisvillekentuckymortgage.com/

Kentucky

Kentucky First Time Home Buyer Programs

Getting a property in Kentucky may be one of the smartest decisions you will ever make. Kentucky first time home buyer programs give simple programs for those who are buying a house for the first time.

They help first time home buyers offering programs to assist first time home buyers purchase houses. Using their help you can qualify for low interest rates and reduced tax rates through the first time home buying program. There are US government, state offerings and low down costs loans available to qualified first time buyers and many more options.

Most Kentucky first time home buyer programs include the Federal Housing Administration (FHA) and the Veteran’s Administration (VA) loans.

View the list below of Kentucky first time home buyer programs:

Covington Homebuyer Assistance Program


Fayette County Local Development Corporation First Time Homeowners Assistance Program


Jefferson County Home Ownership Assistance Program


Kentucky FHA Home Loan


Kentucky First Time Home Buyer Loans


Kentucky Rural Home Loan


Kentucky VA Home Loan


Louisville New Construction Home Ownership Program


Multi Counties REACH Inc First Key DownPayment Assistance Program


•Multi Counties- The Center For Women and Families, Inc. Common Wealth Individual Development Account Program”

I offer most of the first time home buyers programs throughout Kentucky. Call me to discuss these programs at 502-905-3708 or email us at kentuckyloan@gmail.com

Click on link to for your free prequalification–5 minutes pre approvals

>KENTUCKY USDA, RURAL DEVELOPMENT GUIDELINES 2011


>QUICK GUIDE

USDA, RURAL DEVELOPMENT

GUARANTEED RURAL HOUSING LOAN

Advantages:

No Down Payment Required

30 year fixed rate

100% LTV plus the guarantee fee, if financed

Finance Closing Costs, if market value is sufficient

Expanded Ratios of 29/41%

No Mortgage Insurance

No cash contribution required from borrower

Unrestricted gifts

No Maximum Loan Amount – loan amount based on repayment ability of applicant

No Reserve Requirement

High earnings potential

Competitive rates (set by underwriting lenders)

Available secondary markets: wholesale lenders as well as Fannie Mae and Freddie Mac.

Utilize in Conjunction with State Housing Authorities, if available

Rural Development designated rural area:

Homes must be located in rural areas. Rural areas include open country and places with a population of 10,000 or less and-under certain conditions-towns and cities with between 10,000 and 25,000 residents. See the rural area eligibility site at http://eligibility.sc.egov.usda.gov, click on “property eligibility”. If you need additional assistance, please contact your local Rural Development office.

Acceptable credit history:

Have a credit history that indicates a reasonable willingness to meet obligations as they become due

Lender underwrites the loan

No minimum credit scores

Lack of credit is not derogatory

Caution for applicant(s) with multiple layers of risk such as:

payment shock; low credit scores; ratio waiver; credit waivers; 2-1 buy downs

Check maximum income for eligibility:

Applicant(s) have an adjusted household income that does not exceed the moderate income limit established for the area. A family’s income includes the total gross income of the applicant, co-applicant and any other adults in the household. Applicants may be eligible to make certain adjustments to gross income-such as annual child care expenses and $480 for each minor child-in order to qualify. USDA Rural Development field offices can provide information on the moderate income limits for the areas that fall within their jurisdictions, and can provide further guidance on calculating household income. There is an automated eligibility calculator at: http://eligibility.sc.egov.usda.gov

KENTUCKY USDA, RURAL DEVELOPMENT GUIDELINES Kentucky USDA Rural Housing Mortgage Loans

Applicant(s) repayment ability:

The ratio limits are 29 front (housing, PITI), 41 back (total debt, MOTI). Rural Development allows expanded repayment ratios if the applicants have sufficient compensating factors. The underwriter must recommend the expanded ratio(s) and provide compensating factors to Rural Development. Rural Development must concur with the underwriter’s recommendation in order to expand the ratios.

Other eligibility criteria:

Do not own a dwelling

Insufficient resources to secure conventional financing without the guarantee

U.S. citizen or permanent resident or qualified alien

Legal capacity

Primary residence

Loan-To-Value (LTV) and Loan Limit:

100% LTV plus the amount of the guarantee fee, if financed

Loan amount can exceed appraised value by the amount of the guarantee fee

There is no loan limit

-Limiting factors will be ratios and income limit

Property requirements:

New or proposed home construction – stick built, modular, townhouses, condominiums, new manufactured homes.

Existing homes: Meet requirements of HUD Handbooks 4905.1 and 4150.2

New and existing: Private well water quality must meet local and state code.

FHA appraisers in the area can be found on the FHA web site: https://entp.hud.gov/idapp/html/apprlook.cfm

Existing (previously occupied) manufactured home financed under limited circumstances when home presently financed by USDA.

New manufactured homes: Rural Development will finance new manufactured homes through approved dealer-contractors. Contact your local Rural Development office for a list of approved dealer-contractors and the specifics of how new manufactured homes can be financed.

Modular homes: New or existing modular homes can be financed the same as stick built homes.

Condo: Rural Development can finance if it meets the standards for Fannie Mae, Freddie Mac, VA, or FHA.

Town home: Same as condo. A town home must have provisions for maintenance such as HOA.

Flood Zone:

Any existing improvements located in a special flood hazard area must have federal flood insurance coverage. New construction is not permitted until a Letter of Map Revision/Amendment is issued by FEMA.

One time guarantee fee based on the final loan amount

This fee can be financed along with other closing costs. The first mortgage guaranteed loan cannot exceed appraised value by more than the amount of the fee financed. No mortgage insurance requirement.

Term: 30 year fixed

Interest Rate:

Fannie Mae 90 day delivery plus 60 basis points rounded to the nearest quarter percent or

The lenders published VA rate with no discount points


Apply today for your USDA Rural Housing Loan in Kentucky for free. No application Fees and same day loan approval.
502-905-3708

Prohibited Loan Purposes:

In-ground swimming pools – unless value is deducted from the loan request

Existing manufactured homes

Construction draws

Furniture and personal property

Income producing property

Non-essential buildings and land

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell

Kentucky VA Home Loans, Zero Down


Fireworks from the riverfront in Owensboro, KY...
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KentuckyVA Home Loans – A great Zero Down home loan program for Kentucky VETERANS. We provide VA home loans in all Counties of Kentucky, including Louisville, Lexington, Bowling Green,  Owensboro, Etown, Radcliff, and all Northern Kentucky Counties

VA Loans require no down payment and allow you to qualify for a more expensive home. Plus, today mortgage rates on VA loans are very low, making homes even more affordable.

The VA doesn’t actually make loans. Instead, it insures loans so that if buyers default for some reason, the lenders will get their money. This encourages lenders to give mortgages to people who might not otherwise qualify for a loan.

VA Home Mortgage Loan Advantages vs Other Mortgage Loan OptionsMilitary VA Home Mortgage Loan lender in Minneapolis St Paul MN Milwaukee Madison WI

VA home loans do not require a down payment, unless the purchase price is more than the appraised value or in excess of current loan limits.

VA home loans have limitations on which closing costs may be assessed to the veteran.

VA home loans have no prepaid without penalty.

 Maximum (zero down) VA loan has increased to match conforming loans!

VA home loans may have forbearance extended to worthy VA homeowners experiencing temporary financial difficulty

VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during temporary financial difficulties

Rates are competitive with conventional loan interest rates.

VA home loans do not require mortgage insurance premiums.

Although there is no down payment required – There are still lender closing costs, but the seller usually pays ALL of the veteran’s closing costs (and with a $0 down payment, the veteran can literally purchase a home for nothing).

VA FastTrack IRRRL Streamline Refinace



US FlagWe are sensitive to the needs of our American Veterans. But before you get a VA loan, you will need a Certificate of Eligibility, and your DD-214. If you do not have one, or cannot find it, you must contact the VA to get one. Click HERE for details on how to obtain these forms.
 

If WE are your lender – we can under most circumstances, get your required Certificate of Eligibility for you for free.

VA Frequently Asked Questions… Click HERE


Eligibility Requirements

ERA DATES LENGTH OF SERVICE
World War II 09/16/40 – 07/25/47 90 Days
Peacetime 07/26/47 – 06/26/50 181 Continuous Days
Korean Conflict 06/27/50 – 01/31/55 90 Days
Post Korean 02/01/55 – 08/04/64 181 Continuous Days
Vietnam 08/05/64 – 09/07/80 90 Days
Post Vietnam 05/08/75 – 09/07/80 181 Continuous Days
Enlisted 09/08/80 – 08/01/90 2 Years
Officers 10/17/81 – 08/01/90 2 Years
Persian Gulf 08/02/90 – present 2 Years of period called to active duty, not less than 90 days.

Income Guidelines for VA Home Loans

When buying a home in Kentucky, the VA still requires a borrower to have sufficient and adequate income to cover the repayment of the mortgage.  Before a borrower can be approved for a Kentucky VA home mortgage loan, the stability of income and the continuance of the borrower’s income must be established through acceptable sources of income, the borrower’s past employment record, and the employer’s confirmation of continued employment must be established. 

Stability of a person’s income is generally derived from their employment history.  VA requires verification for the previous two full years and must be documented through lender verifications of previous employment or W-2’s.  This income must be analyzed to determine whether it can be expected to continue through the first 3 years of the mortgage loan (if the borrower intends to retire during this period, the expected retirement income, social security benefits, etc. should be used).  Any gaps in employment must be reasonably explained by the borrower.  Schooling or education for  the borrower’s profession (e.g. nursing school) can be counted towards the 2 year requirement.  Allowances for seasonal employment, such as is typical in the building trades for example, may be used.  

VA FUNDING FEE

In order for VA to guarantee the home loan in Minnesota or Wisconsin, there is a closing cost assessed by the VA to originate the loan called a funding fee.  This fee will vary, depending upon the type of VA loan, whether this is your first time to use your entitlement, if you are a disabled veteran, the down payment and if you served active duty or in the National Guard/Reserves.

The VA funding fee is required by law. The fee, is intended to enable the veteran who obtains a VA home loan to contribute toward the cost of this benefit, and thereby reduce the cost to taxpayers. The funding fee for second time users is a bit more expensive. The idea of a higher fee for second time use is based on the fact that these veterans have already had a chance to use the benefit once, and also that prior users have had time to accumulate equity or save money towards a down payment.

The following table breaks down the funding fee charged by VA:

First time use, purchase of an eligible property
Down Payment Active Duty Reserves/NG
0% to 4.99% 2.15% 2.4%
5% to 9.99% 1.50% 1.75%
10% + 1.25% 1.50%
Second time use, purchase of an eligible property
Down Payment Active Duty Reserves/NG
0% to 4.99% 3.30% 3.3%
5% to 9.99% 1.50% 1.75%
10% + 1.25% 1.50%

 

Cash-Out Refinance
  Active Duty Reserves/NG
First Use 2.15% 3.3%
2nd Use 2.40% 3.3%

 

IRRL Streamline Refinance
  Active Duty Reserves/NG
All Homes .50% .5%
Moble Homes 1.0% 1.0%

VA STREAMLINE REFINANCE

An “Interest Rate Reduction Refinance Loan” (IRRRL) or Streamline Refinance allows Veterans to refinance their current mortgage interest rate to a lower rate than they are currently paying. This program is only available to veterans who are refinancing their original VA mortgage in which they utilized their original eligibility.

Loan  Conditions:

  • The VA charges ½ percent funding fee to guarantee the IRRRL Loan.
  • There is no cash out on an IRRRL loan.
  • The loan being refinanced must be current and have a perfect pay history for the last 12 months.
  • 2nd mortgages cannot be included and must subordinate.
  • No assumptions are allowed.
  • This loan can be done with “no out of pocket money” by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.

VA Cash-Out Refinance

Cash-out refinances on properties owned more than one year prior to the refinance are permitted on owner occupied principal residences only, and are limited to 90% of the appraised value plus the allowable closing costs.

A cash-out refinance is when a borrower refinances their current mortgage for more than they owe in order to pull out the built up equity that has accrued in the home.  The amount a home owner can borrower is limited by the value of the property compared to the loan amount (otherwise known as the loan-to-value or LTV).  

The following are basic requirements of a cash-out VA refinance loan:

  • If the property was purchased less than one year preceding the refinance, the borrower is allowed to refinance up to 90% of the original sales price plus the allowable new closing costs or the appraised value plus the allowable closing costs (whichever is lesser)
  • If the property was purchased more than one year preceding the refinance, the borrower can cash-out 90% of the the appraised value plus the allowable closing costs
  • Applies to owner occupied properties only
  • 2nd mortgages may be paid off with the cash-out refinance (the second mortgage must be at least 12 months old)
  • Loan amounts may not exceed 90% of the appraised value.
  • The borrower must have sufficient entitlement for the loan (not including any existing entitlement that was used for loans to be paid off by the refinance
  • There must be a first lien against the property
  • If the new loan is to refinance an existing mortgage to buy out an ex-spouse’s equity, a divorce decree or settlement agreement must be provided to document the equity awarded to the ex-spouse
  • All borrowers must credit qualify
  • A funding fee of 3.00% will be added to the loan amount at time of closing (there are no refunds for previous funding fees assessed by the VA).
  • Borrower may receive cash proceeds at closing
  • Maximum loan term is 30 years plus 32 days

Louisville KY Mortgage Rates


Louisville KY Mortgage Rates

Louisville Kentuckly  Mortgage rates have fluctuated as a result of declining Louisville KY housing prices and decreasing available credit. People are having a hard time finding good Louisville KY mortgage lenders and good Louisville Ky mortgage brokers to trust with their financial future. When times are tough and you don’t know where to turn, it’s still possible to find the Louisville KY best mortgage rates.

I research the best Louisville Ky mortgage rates daily to  catalogue and organize the best Louisville KY mortgage rates and you can free mortgage request quotes for  yourself! We also make it easy to get a response: fill our our easy mortgage information form for the best Louisville KY mortgage rates information from all of the mortgage lenders and mortgage brokers in the city you’re looking in! It doesn’t matter if you’re looking at a house down the South end of  Dixie highway or a street in the east-end of St Matthews – we’ve got some of the the best mortgage rates Iin Louisville Ky

When mortgage companies are competing, you know you’re getting the best mortgage rates possible. All of a sudden, you become the focus and the one in control. With just a little information, buying a home and getting a mortgage turns from a painful process fraught with risks and unreliable brokers into a successful and satisfying conclusion. The best Louisville KY mortgage rates are waiting for you right here, so take a look around at our mortgage rates and compare them for free. I think we offer some of the lowest Louisville KY mortgage prices and mortgage rates.

Fill out my free mortgage pre-qualificaton form today by clicking here<<<< 

Dealing with Mortgages in Kentucky


Dealing with Mortgages

Looking for the Best Mortgage?

 

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage— whether it’s a home purchase, a refinancing, or a home equity loan—is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

 

Find detailed information about the Home Affordable Refinance and Modification programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration’s program. Through this website, borrowers can connect with free counseling resources; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their servicer.

 

Agency: Department of the Treasury

 

Gives you key points to help you choose the mortgage that is best for you. Provides tips on determining your budget, understanding pricing and fees, comparing loan options and gathering information from trusted resources.

Audience: 
Adults
 

Ideas and information on topics such as how to: get the best possible interest rates, avoid paying unnecessary fees, find “emergency” cash at affordable prices, and steer clear of credit-related rip-offs and scams.

Audience: 
consumers
 

This brochure explains how mortgage modification programs can help those at risk of foreclosure save their home.

Audience: 
Homeowners
 

Agency: Federal Deposit Insurance Corporation

 

The Consumer Advisory, issued by the Office of the Comptroller of the Currency, is designed to help you better understand reverse mortgages. Reverse mortgages are complex loans, and are secured by your home. It is important to understand their terms, risks, and costs before you sign a reverse mortgage contract. It is also important to consider alternatives to reverse mortgages.

Audience: 
General Audience, Bank Customers
 

Agency: Office of the Comptroller of the Currency

 

Common types of foreclosure rescue scams, how they work, and what you can do if you are facing foreclosure.

 

Agency: Office of Thrift Supervision

 

The Office of the Comptroller of the Currency’s Consumer Advisory provides advice to help prevent borrowers from becoming victims of mortgage modification and foreclosure rescue scams.  It outlines what people should watch out for to avoid mortgage modification and foreclosure rescue scams.  The advisory provides a list of resources people can use to find qualified sources for help and is also published in Spanish.

Audience: 
General Audience, Homeowners
 

Agency: Office of the Comptroller of the Currency

 

The Office of the Comptroller of the Currency maintains a Web site www.Helpwithmybank.gov, a clearinghouse that provides consumers with answers to more than 250 frequently-asked questions (FAQs) on such financial topics as bank accounts, deposit insurance, credit cards, consumer loans, insurance, mortgages, identity theft, and safe deposit boxes.

Audience: 
General Audience, Bank Customers who need help
 

Agency: Office of the Comptroller of the Currency

 

This web page provides quick access to several resources to help homeowners, community stakeholders, and the banking industry help prevent unnecessary foreclosures and stop foreclosure “rescue” scams that promise false hope to consumers at risk of losing their homes. For Additional information call toll-free 1-877-ASK-FDIC (1-877-275-3342); hearing impaired 1-800-925-4618.

Audience: 
General Public, Homeowners, Educators, Housing Counselors
 

Agency: Federal Deposit Insurance Corporation

 

More Americans feel added stress and anxiety about their financial future as talk of rising consumer debt, falling housing prices, rising costs of living, and declining retail sales bring up worries about the nation’s economic health. Money is often on the minds of most Americans. In fact, according to the American Psychological Association’s 2007 Stress in America survey, money and work are two of the top sources of stress for almost 75 percent of Americans. Add to the mix headlines declaring a looming economic recession, and many begin to fear how they can handle any further financial crunch.

 

Agency: Department of Agriculture

 

Learn if a home equity plan is right for you and how to shop for the best plan.

 

Agency: Board of Governors of the Federal Reserve System

 

Alerts consumers to potential borrowing pitfalls and provides tips for getting the best financing deal possible. Warns consumers that regardless of whether a home equity loan is for home repair, bill consolidation, or some other purpose, it’s important to shop around.

 

Agency: Federal Trade Commission

 

Lenders offer home equity credit lines in a variety of ways. The questions and answers listed may help you decide if a home equity line of credit is right for you.

 

Agency: Federal Trade Commission

 

Explains The Home Ownership and Equity Protection Act of 1994, what loans are covered, what disclosures are required, and what practices are prohibited.

 

Agency: Federal Trade Commission

 

Shop for the mortgage package that best meets your financial needs.

Audience: 
Adults
 

Agency: Board of Governors of the Federal Reserve System

 

Owning a home is part of the American dream, but exotic mortgages also may carry risks. This publication, also available in Spanish, educates homebuyers on the loan terms and risks associated with non-traditional mortgage products.  Read this brochure, prepared by the Office of the Comptroller of the Currency and the federal bank, thrift and credit union regulatory agencies, to find out what I-O mortgage payments and payment option ARMs entail. The brochure includes a worksheet to assist homebuyers when comparing mortgages.

Audience: 
General Audience, Homeowners, Bank Customers
 

Agency: Office of the Comptroller of the Currency

 

Explains mortgage servicers’ responsibilities, in particular under the RESPA enforced by HUD; urges consumers to keep records of their payments, insurance coverage, and other information; explains how consumers can file disputes with their loan servicer; and includes sample letters that consumers may use when filing a dispute with their lender/servicer or with a credit bureau.

 

Agency: Federal Trade Commission

 

Explains your rights under Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), and what to do if your loan is rejected.

 

Agency: Federal Trade Commission

 

Helps consumers evaluate what to expect in today’s mortgage market.

Dealing with Mortgages

  

 

Whether you are buying a house or refinancing your mortgage, this information can help you decide if an interest-only mortgage payment (an I-O mortgage)–or an adjustable-rate mortgage (ARM) with the option to make a minimum payment (a payment-option ARM)–is right for you.

 

Agency: Board of Governors of the Federal Reserve System

 

Find out about the risks and advantages of an adjustable rate mortgage. Use the Mortgage Checklist to help with your decision. Handbook is designed to help consumers understand an important and complex mortgage option available to homebuyers.

 

Agency: Board of Governors of the Federal Reserve System

 

The Homeowners Protection Act of 1998 establishes rules for automatic termination and borrower cancellation of Private Mortgage Insurance on home mortgages. Find out if you qualify.

 

Agency: Federal Trade Commission

 

This Consumer Advisory, issued by the Office of the Comptroller of the Currency (OCC), describes common scams, suggests ways to protect yourself, provides information on U.S. government loan programs and counseling resources, and lists 10 warning signs of a mortgage modification scam.

 

Agency: Department of the Treasury

 

For consumers who may be having trouble paying their mortgage. Explains options to help save their homes, and how to recognize and avoid foreclosure scams.

 

Agency: Federal Trade Commission

 

Explains how various foreclosure rescue scams work, and where consumers can find legitimate help.

 

Agency: Federal Trade Commission

 

The Federal Reserve Banks have established Foreclosure Resource Centers to help address local and regional challenges in their mortgage markets and local communities. The site contains a map with links to these regional foreclosure centers, where you’ll find resources for small municipalities, housing counselors, and consumer and community groups.

 

Agency: Board of Governors of the Federal Reserve System

 

Suggests do’s and don’ts when you are dealing with foreclosure.

 

Agency: Board of Governors of the Federal Reserve System

 

View a 30-second ad from the Federal Reserve Board directing consumers to free foreclusure prevention resources on the agency web site.

 

Agency: Board of Governors of the Federal Reserve System

 

This website provides information that may be helpful to consumers, financial institutions, and the community groups working with them on foreclosure-related issues. 

Audience: 
Homeowners, General Public, Housing Counselors
 

Agency: Federal Deposit Insurance Corporation

 

This booklet explains how property owners can avoid losing their homes because of delinquent payments.

 

Agency: Department of Housing and Urban Development

 

Whether you’re in foreclosure now or worried about it in the future, we have the information that can help.
 

 

Agency: Department of Housing and Urban Development

 

Includes terms, tips, a checklist, and information to help you find a plan that meet your needs, and protect your interests.

 

Agency: Federal Trade Commission

 

Practical information and resources to help you make your mortgage payments and keep your home.

 

Agency: Board of Governors of the Federal Reserve System

 

Compare monthly mortgage payments and the amount of equity you’ll build for up to six types of fixed- and adjustable-rate mortgages.

 

Agency: Board of Governors of the Federal Reserve System

 

FDIC Consumer News provides practical guidance on how to become a smarter, safer user of financial services. Consumer News articles issued in 2009 and beyond are being adapted for audio. Individuals are able to click the desired issue to download or listen to the articles in that issue; go to http://treas.gov/cgi-bin/redirect.cgi?http://www.fdic.gov/consumers/consumer/news/audio/index.html

Audience: 
General Public
 

Agency: Federal Deposit Insurance Corporation

 

The form used by a consumer to file a complaint about a thrift or savings association.

 

Agency: Office of Thrift Supervision

Jefferson County Kentucky Foreclosures Information


Jefferson County Kentucky Foreclosures Information

 

Free Mortgage Application less than 5 minutes. Apply today for your next Louisville Kentucky Mortgage

Frequently Asked Questions

The Commissioner’s Office cannot give legal advice.  The following are frequently asked questions that are procedural:

.margin { MARGIN-LEFT: 15px } [-] I just purchased property at the commissioner sale. What do I need to do now?

Discuss with an attorney the necessity for a title search. Thirty (30) days from the date of sale one-fourth (1/4) of the bid price, including deposit paid the day of sale, needs to be paid into the Commissioner’s Office. Six (6) months from the date of sale the balance of the bid price needs to be paid. Interest is 12% per annum on the unpaid balance.

[-] When do I get access to the property?

You are entitled to possession of the property after the Report of Sale has been confirmed by the Court. This can happen any time ten (10) days after the Report of Sale has been filed in the Court record.

[-] How do I get keys to the property?

Through the party whose judgment under which the property was sold or its attorney.

[-] What happens after all liens have been satisfied and there is money left over?

The original property owners have a right to those funds.

[-] Someone is still living in the home. What should I do?

If they refuse to leave, the Court can enter a writ of possession directing the sheriff of Jefferson County to set the individuals and their property out.

[-] I cannot meet the 30-day or six-month deadlines. What should I do?

Contact the attorney for the party under whose judgment the property was sold.

[-] What if the Commissioner’s Sale brings less than two-thirds (2/3rds) of the appraisal?

The homeowner has a one year right of redemption.

[-] What is a right of redemption?

It is a right held by the property owner giving them one year to repay to the purchaser the amount of money paid into the Commissioner plus 10% per annum. KRS 426.530

[-] Whose name is on the Commissioner’s deed?

The Commissioner’s deed will be in the name of the purchaser at the Commissioner’s Sale. If the purchaser desires it be titled otherwise, the purchaser can file an Assignment of Bid in the Court record and the deed will then be titled in the assignee’s name.

[-] How do I make payments to the Commissioner’s Office for my bid price?

Only in cash or certified funds for the sale day deposit and only certified funds thereafter.

[-] Where are the sales conducted?

Usually on the first floor of the Old Jail Building, 514 West Liberty Street, Louisville, Kentucky. On occasion if they are held elsewhere, notice may be obtained from the Commissioner’s Office or this website.

[-] Can I inspect the property before the Commissioner’s Sale?

Only if the individuals in possession allow it (or by contacting the attorney for the party who has a Judgment and Order of Sale) if the property is vacant.

[-] Is the property insured?

It is the responsibility of the purchaser at the Commissioner’s Sale to insure the property, to the extent of the purchaser’s interest, until purchaser takes full title.

[-] Where can I get a list of foreclosure actions filed in Jefferson County or placed on a mailing list?

No such list is maintained. The Commissioner’s Office does not create a mailing list or mail information to individuals.

[-] When do I get the deed to the property?

You will need to move the court for a deed, tender an order, and pay the purchase price plus interest.

[-] If my post-purchase title search shows liens by entities not parties to the litigation?

File in the Court record an objection to confirmation of sale. This will bring the lienholder issue to the Court for resolution.

[-] What happens if I fail to pay the full balance of my bid price?

You run the risk of losing any monies you have paid up to that point and if the property sells the second time for less than what you paid for it, you might be liable for the difference.

[-] Can I get my deposit back if I do not like the property or if I cannot get financing?

No.

[-] Is a bond necessary from the purchaser?

Yes. The bond requirement can be satisfied with either a corporate surety or if a property owner, not having an interest in the litigation, signs a bond pleading real estate located in Jefferson County. KRS 426.705

 

KHC’s First Mortgage Government Loan Products


KHC’s First Mortgage Government Loan Products

Federal Housing Administration (FHA)

Minimum 640 credit score required.

Financing to 96.50% of lesser of sales price or appraised value.

All KHC DAPs and other KHC-approved secondary financing may be used.

Maximum 6% seller-paid items.

Maximum ratios of 40/45 with AUS approval.

28 for HUD’s full policy.

All borrowers must be scored by TOTAL and receive approve/eligible or accept/accept.

Lender must follow the FHA maximum mortgage limits for particular area

see https://entp.hud.gov/idapp/html/hicostlook.cf

just follow Upfront and Annual Mortgage Insurance Premiums Guidelines (see information below).

Upfront and Annual Mortgage Insurance Premiums

Loan Terms Greater than 15 Years

Case numbers on or after Monday, April 18, 2011

LTV less than or equal to 95%

1% annual 1.10 monthly

LTV greater than 95%

1% annual 1.15 monthly

Conventional

Minimum 660 credit score required

Maximum loan-to-value (LTV) ratio is 80%.

Maximum ratios 40/45 with AUS approval.

No down payment assistance products may be used. Borrower must meet down payment requirements with their own funds or a gift.

Federal Home Loan Bank monies allowed once borrower meets the 20% down payment requirement. Must be entered as subordinate

financing in DU/LP.

Pre-purchase education required as per AUS findings.

Not available for manufactured housing.

Appraiser Independence required (see page 4).

KHC does not presently have a product for 81% LTV or greater.

Rural Housing Services (RHS)

Minimum 640 credit score required.

Financing to 100% of the appraised value, plus guarantee fee of 3.5%.

All KHC DAP programs and other KHC-approved secondary financing may be used.

No maximum on seller-paid items.

Ratio requirements and guarantee fee per agency guidelines.

KHC will accept Government Underwriting System (GUS) findings, including reduced documentation and, with approval, expanded

ratios up to 40/45.

Veteran’s Administration (VA)

Minimum 640 credit score required.

Ratios up to 40/45% with AUS Approval.

Financing to 100% of the lesser of the appraised value or sale price.

All KHC DAP programs and other KHC-approved secondary financing may be used.

Maximum 4% seller-paid items.

Follow agency guidelines for ratio requirements and funding fee.

>FHA to increase the FHA monthly mortgage insurance (Kentucky)


>

FHA to increase the FHA monthly mortgage insurance (Kentucky)

Why the changes? HUD wants to strengthen the FHA’s Mutual Mortgage Insurance Fund, known as the MMIF. They want to see the fund financially sound. Also, there is no change to the Upfront Mortgage Insurance Premium of 1 percent.
.
Old verse New Monthly Mortgage Insurance Changes
This chart is from Mortgagee Letter 11-10 – Annual Mortgage Insurance Premium Changes –
As you can see by the red arrow, indicating that this goes into effect on April 18th, not April 4th. HUD must have revised the date after they did the charts. So what does this all mean to those refinancing or buying new homes with a FHA mortgage?
This is based on a $250,000 sales price and the end result is that it would cost the buyer$50.26 more in their total monthly mortgage payment. You can also look at it from the flip side when qualifying buyers. This could lower the new buyers purchasing power by about $9,000. Meaning, instead of the $250,000 purchase price in the example, they can now afford a $241,000 home.
This new change is for your primary 1 to 4 unit properties. This change does not affect Title 1 loans, the HECM loan (reverse mortgages – which I am writing about tomorrow), the HOPE loan, and a few other types of FHA loans. This can also be found in the new FHA mortgagee letter 11-10.
Here is a quick breakdown of different purchase prices just to give you an idea.


Fill out my form!

100% Rural Housing loan in Kentucky



100% Rural Housing loan in Kentucky

Do you realize that a 1 -4 person household can have income of $74,050, and a 5-8 person household up to $97,750 and qualify for a 100% Rural Housing loan in Kentucky?

 

And, do you realize that qualifying income limits may be pushed even HIGHER using standard eligible deductions including child care expenses, deductions for members of household under 18 and more (use the calculator and select income eligibility at http://eligibility.sc.egov.usda.gov to find more exemptions)   

 

Many, many more properties are eligible than most people realize, and the pricing is great with only two possible adjustments, and it’s a super easy loan to process…with only one other form that a conventional loan, and turn times are excellent these days!!!

 

Check out Rural Housing, an unbelievably great loan for both you and your borrower!!!

 

A few highlights and sample pricing below

 

No monthly mortgage insurance

Loans up to 100% of appraised value

6% seller concessions for closing costs and prepaids

Minimum credit score 620

Maximum DTI of 50%

Conventional loan packaging with only 1 extra form

 

Kentucky Fannie Mae and Freddie Mac First Time Home Buyer Education Requirements


 Kentucky Fannie Mae and Freddie Mac First Time Home Buyer Education Requirements

 Kentucky Fannie Mae and Freddie Mac Home Possible Education Requirements

Home Possible

® Mortgages Homeownership Education Requirements

Home Possible homeownership education requirements, including:

 • AIG United Guaranty’s

The Road to Home Ownership® at https://www.ugcorp.com/rtho.html

Genworth Financial’s homebuyer education series at http://mortgageinsurance.genworth.com/EmergingMarkets/HomebuyerEducation.aspx

 • MGIC’s Buyers Ed program at http://www.mgic.com/education/buyersed.html

 • PMI’s homebuyer education at

http://www.pmi-us.com/expanding_markets/homebuyered.html

• RMIC’s pre-homeownership education course at http://www.rmic.com/productsandservices/prehomeownershiped/borrowereducation/Pages/default.aspx

 Homeownership Education Providers

 Many affiliates/members of national organizations provide homeownership education and counseling:

 

• NeighborWorks® America at

www.nw.org

• Housing Partnership Network at www.housingpartnership.net

 • National Council of La Raza at www.nclr.org

 • National Urban League at www.nul.org

 • Local Initiatives Support Corporation’s (LISC) at www.liscnet.org

 • The Enterprise Foundation at

www.enterprisefoundation.org

• National Coalition for Asian Pacific American Community Development at

www.nationalcapacd.org

 

Other Helpful Resources

 The Department of Housing and Urban Development (HUD) lists non-profit organizations with HUD-approved counselors at http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?weblistaction=summary. We recommend that this HUD designation be considered along with other factors when deciding if a specific homeownership education program is sufficient

 Guidance on Additional Sources for Homeownership Education

 We recommend utilizing a comprehensive curriculum containing the minimum core content specified by the National Industry Standards for Homeownership Education and Counseling (www.homeownershipstandards.com). Those topics include:

 

• Assessing Readiness to Buy a Home

• Budgeting and Credit

• Financing a Home

• Selecting a Home

• Maintaining a Home and Finances

• Budgeting for Homeownership

• Sustaining Homeownership and Avoiding Delinquency

 

Freddie Mac’s CreditSmart Resources

 Several CreditSmart (www.freddiemac.com/creditsmart) modules can be combined and deployed as live, instructor-led sessions by your organization, provided the following modules are included:

  

Louisville Ky Down Payment Assistance Program Mortgage


Call today to see if you qualify for downpayment grant 905-3708

Louisville Ky Down Payment Assistance Program Mortgage

The Down Payment Assistance Program provides qualified homebuyers a loan to assist with purchasing a home which will be their primary residence.

Homebuyer households must have income no greater than 80% of median income, adjusted for family size.

All Homebuyers must complete HUD approved homeownership counseling before assistance can be committed. A Certificate of Completion from the counseling agency must be submitted with the application. Contact  us at 502-905-3708 or email us at kentuckyloan@gmail.com The  Government has revised its Down Payment Assistance Program increasing the amount of assistance.

We are now offering Metro Wide assistance, and homebuyers may qualify for a forgivable mortgage which will be forgiven over a five (5) year period of 10% of the purchase price of the home to a maximum of $4000 to  $10,000.

Our Department has also allocated closing cost assistance in the amount of up to $2,000 for down payment assistance programs; however, homebuyers must pay all prepaid costs from their own funds.

502-905-3708—call today for free application–

Homebuyers are responsible for obtaining primary financing with a fixed rate mortgage from a reputable lender.

A Housing Quality Standards inspection will be conducted by a Louisville Metro inspector before closing. All deficiencies must be corrected and verified by re-inspection prior to closing

HUD-1 closing statement must be received two working days (48 hours) prior to closing.

Applications will be accepted at any time. Assistance is granted on a first come, first serve basis. For more information about the Down Payment Assistance Program, please call 502-905-3708

email us today for your free mortgage loan application—kentuckyloan@gmail.com

Louisville Ky Down Payment Assistance Program Mortgage

Kentucky FHA/VA, USDA, KHC, Conventional mortgage loans (Fannie Mae )in Ky.


Kentucky FHA/VA, USDA, KHC, Conventional mortgage loans (Fannie Mae )in Ky.

 Louisville Ky Featured Mortgage Professional

Joel Lobb
Key Financial Mortgage
107 South Husrtbourne Parkway Louisville Ky 40222
502-905-3708
kentuckyloan@gmail.com

Specializing in Kentucky FHA/VA, USDA, KHC, Conventional mortgage loans (Fannie Mae )in Ky. He has helped over 389 Kentucky families buy their first home and refinance their current mortgage for a lower rate; Free credit report and Free pre-approvals within 1 hour..Call today at 502-905-3708 or email at kentuckyloan@gmail.com NMLS#57916

 <a href=”/classifieds/” target=”_blank”>Free Classifieds</a>

>4 Things Every Borrower Needs to Get Approved for a Mortgage or Home Loan In Kentucky


>4 Things Every Borrower Needs to Get Approved for a Mortgage or Home Loan In Kentucky

FHA VA KHC, Conventional, Fannie Mae, Freddie Mac

4 Things Every Borrower Needs to know to Get Approved for a Loan!!!!

There are 4 basic things that a borrower needs to show a lender in order to get approved for a mortgage. Each category has so many what ifs and sub plots that each box can read as it’s own novel. In other words, each category has so many variables that can affect what it takes to get approved, but without further adieu here are the four categories in no particular order as each without any of these items, you’re pretty much dead in the water:

1. Income

You need income. You need to be able to afford the home. Without it, forget it! But what is acceptable income? Basically, it all depends on the type of loan that a borrower applies for. Jumbo, V.A., USDA, FHA, Conventional, Kentucky Housing KHC Super Jumbo? Let’s just say that there are two ratios:

First Ratio – The first ratio, top ratio or housing ratio. Basically that means out of all the gross monthly income you make, that no more that X percent of it can go to your housing payment. The housing payment consists of Principle, Interest, Taxes and Insurance. Whether you escrow or not every one of these items are factored into your ratio. There are a lot of exceptions to how high you can go, but let’s just say that if your ratio is 33% or less, generally, across the board, you’re safe.

Second Ratio- The second ratio, bottom ratio or debt ratio includes the housing payment, but also adds all of the monthly debts that the borrower has. So, it includes housing payment as well as every other debt that a borrower may have. This would include, Auto loans, credit cards, student loans, personal loans, child support, alimony….basically any consistent outgoing debt that you’re paying on. Again, if you’re paying less than 43% of your gross monthly income to all of the debts, plus your proposed housing payment, then……generally, you’re safe. You can go a lot higher in this area, but there are a lot of caveats when increasing your back ratio.

What qualifies as income? Basically, it’s income that has at least a proven, two year history of being received and pretty high assurances that the income is likely to continue for at least three years. What’s not acceptable?????? Cash income, short term income and income that’s not likely to continue.

2. Assets

For the most part this is fairly simple. Do you have enough assets to put the money forth to qualify for the downpayment that the particular program asks for. USDA says that there can be no money down. FHA, for now, has a 3.5% downpayment. Some loans require 20% down. These assets need to be validated through bank accounts and sometimes gifts. Can you borrower the down payment? Sometimes. Generally if you’re borrowing a secured loan against a secured asset you can use that. But rarely can cash be used as an asset. TALK TO YOUR LOAN OFFICER FIRST when discussing what’s acceptable?

3. Credit
Whewwwwwwwwwwwwwwwwwwwwwwwwwwww. This can be the bane to every borrower, every loan officer and every lender……and yes, to every realtor. How many times has a borrower said my credit’s good, only to find out that it’s not nearly as good as a borrower thinks or nearly as good as the borrower needs. Big stuff for sure. 620 is the bottom score (again with few exceptions) that lenders will permit. Below a 620, then you’re in a world of hurt. Even at 620, people consider you a higher risk that other folks and are going to penalize you or your borrower with a more expensive loan. 700 is when you really start to get in the “as a lender we love you” credit score. 720 is even better. Watch your credit!!!!! Check out my post:

Kentucky Housing VA FHA KHC USDA and FNMA all require 620 credit score!

4. Appraisal

In many ways this is the easiest box. Why????? Generally, there’s nothing you can do to affect this. Bottom line here is…..”is the value of the house at least the value of what you’re paying for it?” If not, then not good things start to happen. Generally you’ll find less issues with values on purchase transactions, because, in theory, the realtor has done an accurate job of valuing the house prior to taking the listing. The big issue comes in refinancing. In purchase transactions, the value is determined as the

Lower of the value or the contract price!!!

That means that if you buy a $1,000,000 home for $100,000, the value is established at $100,000. Conversely, if you buy a $200,000 home and the value comes in at $180,000 during the appraisal, then the value is established at $180,000. Big issues….Talk to your loan officer.

For each one of these boxes, there are over 1,000 things that can effect if a borrower has reached the threshold to complete that box. Soooooooooooo…..talk to a great loan officer. There are so many loan officers that don’t know what they’re doing. But, conversely, there’s a lot of great ones as well. Your loan is so important! Get a great lender so that you know, for sure, that the loan you want, can be closed on!

Call me today at Key Financial Mortgage for your free pre-approval for your next home or refinance…Call 502-905-3708 or kentuckyloan@gmail.com

I can answer your questions and usually get you pre-approved the same day.

I can be reached at my Louisville Ky office at 502-905-3708 Ask for Joel

Louisville Kentucky Mortgage Rates


I specialize in Kentucky FHA/VA ,USDA, KHC, and Fannie Mae mortgage loans in Ky. I have helped over 589 Kentucky families buy their first Kentucky home and refinance their current mortgage for a lower rate on their Kentucky Mortgage; For the Kentucky first time buyer with little money, Kentucky Housing/KHC offers(zero-down)loans with downpayment assistance. Free credit/pre-approvals in 1 hour Call me today at 502-905-3708 or email kentuckyloan@gmail.com I compare Kentucky Mortgage Rates daily to get you best rates in Ky

Joel Lobb nmls #57916 (Licesned Mortgage Originator KY)  Key Financial Mortgage (Mortgage Broker Lic #1800

Getting a FHA Loan Approved with the new Guidelines for Student Loans in Kentucky for 2017


2017 KENTUCKY FHA MORTGAGE GUIDELINES FOR APPROVAL WITH STUDENT LOANS Student Loan Payment Calculation Must include all student loans in the borrower’s liabilities, regardless of the paymen

Louisville Kentucky Mortgage Loans

2017 KENTUCKY FHA MORTGAGE GUIDELINES FOR APPROVAL WITH STUDENT LOAN

2017 KENTUCKY FHA MORTGAGE GUIDELINES FOR APPROVAL WITH STUDENT LOANS Student Loan Payment Calculation Must include all student loans in the borrower’s liabilities, regardless of the payment type o…

Source: Getting a FHA Loan Approved with the new Guidelines for Student Loans in Kentucky for 2017

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24 New Fannie Mae Homes in Kentucky Government Foreclosures 2017


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Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Kentucky General Mortgage Guide for Underwriting A…: Kentucky Mortgage Underwriting Guidelines Understanding  Mortgage mortgage underwriting guidelines will help you understand your loan opt…


Posted By Blogger to Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage

Address Location Type Status Price Beds Baths
Previous Next
114 Dakota Cir
Carrollton, KY
Carrollton, KY 41008
Single Family Just Listed $119,900 3 2 First Look Program
4516 Amerivan Ct
Louisville, KY
Single Family Just Listed $198,900 4 2 First Look Program
1530 Spring Creek Dr
Murray, KY
Single Family Just Listed $299,900 3 3 First Look Program
3508 E 6th St
Owensboro, KY
Single Family Just Listed $63,000 3 1 First Look Program
10823 Muirfield Ct
Union, KY
Single Family Just Listed $158,500 2 4 First Look Program
843 Button Knob Rd
Liberty, KY
Single Family Just Listed $92,500 4 2 First Look Program
1557 Dunbar Leetown Rd
Morgantown, KY
Single Family Just Listed $134,500 3 2 First Look Program
563 Saint Andrews Rd
Brandenburg, KY
Single Family Just Listed $155,000 3 3 First Look Program
362 Pollitt Cir
New Castle, KY
Single Family Just Listed $64,500 3 2 First Look Program
931 Robin Cir
Radcliff, KY
Single Family Just Listed $116,500 3 2 First Look Program
114 Indian Trace Rd
Cadiz, KY
Single Family Just Listed $154,000 4 3 First Look Program
2589 Oregon Rd
Salvisa, KY
Single Family Just Listed $247,500 5 5 First Look Program
12 Crestwood Ave
Newport, KY
Single Family Back on Market $87,000 2 1
727 Agawam Rd
Winchester, KY
Single Family Back on Market $129,900 4 3 First Look Program
40 Beech Dr
Ft Mitchell, KY
Single Family Back on Market $84,500 3 2
313 Shakers Landing Rd
Harrodsburg, KY
Single Family Back on Market $142,500 3 2
8854 Valley Circle Dr
Florence, KY
Single Family Back on Market $118,800 3 2
163 Falls Ln
Shepherdsville, KY
Single Family Back on Market $99,900 4 1
213 Ridge Pole Rd
Brandenburg, KY
Single Family Price Reduced $199,900 4 4
1520 Bryan Rd
Boaz, KY
Single Family Price Reduced $117,500 4 3
8 Davenport Ln
Williamsburg, KY
Single Family Price Reduced $85,000 3 3
414 Village Dr
Frankfort, KY
Single Family Active $165,000 4 4
120 Ridgemont Rd
Paducah, KY
Single Family Active $94,500 3 3
3445 Bonny Lea Ct
Louisville, KY
Single Family Active $129,900 3 2 First Look Program
6003 Murnan Rd
Newport, KY
Single Family Active $77,500 3 2
21 Highway 578 N
Annville, KY
Single Family Active $99,900 4 2 First Look Program
11501 Flowervale Ln
Louisville, KY
Single Family Active $74,900 3 1
146 Grand Oak Blvd
Shepherdsville, KY
Single Family Active $255,000 4 3
18 Alice Dr
Greenup, KY
Single Family Active $75,000 4 2.5
424 E Union St
Hartford, KY
Single Family Active $98,900 4 2
2024 Woodmere Ct
Hebron, KY
Single Family Active $169,900 4 3
1927 Brooklyn Chapel Rd
Morgantown, KY
Single Family Active $89,900 3 2
112 Valley Brook Dr
Frankfort, KY
Single Family Active $85,000 3 2
250 Commerce St
Hardin, KY
Single Family Active $69,900 4 2
421 Newby Rd
Richmond, KY
Single Family Active $109,900 4 2
136 W Main St
Mount Sterling, KY
Single Family Active $115,000 5 2
2440 Lancaster Rd
Richmond, KY
Single Family Active $299,900 4 5
3510 Mcneil Rd
Boaz, KY
Single Family Active $249,000 3 2
145 Douglas Ave W
Stanford, KY
Single Family Active $115,000 3 2
418 A Mckinney Rd
Glasgow, KY
Single Family Active $72,500 2 1
532 Park Ridge Dr
Richmond, KY
Single Family Active $269,900 4 4
96 Cross Creek Farms Rd
Benton, KY
Single Family Active $209,500 5 4 First Look Program
3401 Wolf Creek Rd
Williamsburg, KY
Single Family Active $83,500 3 1

 

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Louisville Kentucky First Time Home Buyer 2017 Kentucky First Time Home Buyer Grant for $10,000 from Kentucky Housing

Louisville Kentucky First Time Home Buyer 2017 Kentucky First Time Home Buyer Grant for $10,000 from Kentucky Housing


2017 Kentucky First Time Home Buyer Grant for $10,000 from Kentucky Housing
louisvillekentuckyfirsttimehomebuyer.com
A Kentucky Mortgage Blog for First Time Home Buyers in Kentucky

Give us a try or let us compare your options on your next mortgage transaction. Call me locally at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications.

Email me at kentuckyloan@gmail.com with your questions

I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance.

This website is not an government agency, and does
not officially represent the HUD, VA, USDA or FHA or any other government agency.

NMLS# 57916 http://www.nmlsconsumeraccess.org/

Joel Lobb Senior Loan Officer

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

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

Company ID #1364 | MB73346E
EQUAL HOUSING LENDER
http://www.mylouisvillekentuckymortgage.com/

New Fannie Mae Homes in Kentucky


New Fannie Mae Homes in Kentucky

To: kentuckyloan@gmail.com

You have subscribed to receive alerts in Kentucky.

$22,500Back on Market

2691 Us 231 South
Beaver Dam, KY 42320

3 Beds |1 Baths | 1800 sq. ft.

View Property

$72,500Back on Market

3522 Alpha Ct
Erlanger, KY 41018

5 Beds |3 Baths | 1919 sq. ft.

View Property

$104,900Price Reduced

120 Ridgemont Rd
Paducah, KY 42003

3 Beds |3 Baths | 2429 sq. ft.

View Property

$265,000Price Reduced

146 Grand Oak Blvd
Shepherdsville, KY 40165

4 Beds |3 Baths | 2534 sq. ft.

View Property

$25,000Price Reduced

532 Kellacey Rd
West Liberty, KY 41472

3 Beds |1 Baths

View Property

$59,000Price Reduced

517 Washington Ave
Paintsville, KY 41240

3 Beds |2 Baths | 2242 sq. ft.

View Property

$89,900Price Reduced

112 Valley Brook Dr
Frankfort, KY 40601

3 Beds |2 Baths | 1127 sq. ft.

View Property

$28,900Price Reduced

319 H Hale Dr
East Point, KY 41216

3 Beds |2 Baths | 1253 sq. ft.

View Property

$315,000Price Reduced

2440 Lancaster Rd
Richmond, KY 40475

4 Beds |5 Baths | 3525 sq. ft.

View Property

$139,900Price Reduced

1336 Equestrian Way
Frankfort, KY 40601

4 Beds |4 Baths | 1676 sq. ft.

View Property

$64,900Price Reduced

2116 Quillman Rd
Louisville, KY 40214

4 Beds |1 Baths | 1440 sq. ft.

View Property

$180,000Active

11131 Misty Wood Ct
Walton, KY 41094

4 Beds |2.5 Baths

View Property

 

2017 Kentucky First Time Home Buyer Loan Programs


2017 Kentucky First Time Home Buyer Loan Programs, credit report, Credit Scores/Credit Report Tips, debt to income ratios, Down Payment Assistance, Fannie Mae Loan, first time buyer kentucky, first time home buyer loans, fort knox ky zero down loan, kentucky first time home buyer grant, kentucky rhs loan, KHC loan, KY FHA LOANS, ky first time home buyer, ky housing rates, ky mortgage rates, ky usda, ky va, ky va loans, louisville homes for sale, Louisville Ky First Time Home Buyers, louisville ky mortgage, usda mortgage, Zero down home loans

Kentucky First Time Home Buyer Programs for 2017 FHA, VA, KHC, USDA, RHS, Fannie Mae Loans in Kentucky

Kentucky First Time Home Buyer Programs for 2017

There are basically 5 popular programs that Kentucky Home buyers use to purchase their first home.
• At least 3%-5% down
Closing costs will vary on which rate you choose and the lender. Typically the higher the rate, the lesser closing costs due to the lender giving you a lender credit back at closing for over par pricing. Also, called a no-closing costs option. You have to weigh the pros and cons to see if it makes sense to forgo the lower rate and lower monthly payment for the higher rate and less closing costs.
Fico scores needed start at 620, but most conventional lenders will want a higher score to qualify for the 3-5% minimum down payment requirements Most buyers using this loan have high credit scores (over 720) and at least 5% down.
The rates are…

View original post 938 more words

Kentucky List of Foreclosed Homes by Fannie Mae, USDA, and KHC


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State Days Old Counties
KY 365 ADAIR, ALLEN, ANDERSON, BALLARD, BARREN, BATH, BELL, BOONE, BOURBON, BOYD, BOYLE, BRACKEN, BREATHITT, BRECKINRIDGE, BULLITT, BUTLER, CALDWELL, CALLOWAY, CAMPBELL, CARLISLE, CARROLL, CARTER, CASEY, CHRISTIAN, CLARK, CLAY, CLINTON, CRITTENDEN, CUMBERLAND, DAVIESS, EDMONSON, ELLIOTT, ESTILL, FAYETTE, FLEMING, FLOYD, FRANKLIN, FULTON, GALLATIN, GARRARD, GRANT, GRAVES, GRAYSON, GREEN, GREENUP, HANCOCK, HARDIN, HARLAN, HARRISON, HART, HENDERSON, HENRY, HICKMAN, HOPKINS, JACKSON, JEFFERSON, JESSAMINE, JOHNSON, KENTON, KNOTT, KNOX, LARUE, LAUREL, LAWRENCE, LEE, LESLIE, LETCHER, LEWIS, LINCOLN, LIVINGSTON, LOGAN, LYON, MADISON, MAGOFFIN, MARION, MARSHALL, MARTIN, MASON, MCCRACKEN, MCCREARY, MCLEAN, MEADE, MENIFEE, MERCER, METCALFE, MONROE, MONTGOMERY, MORGAN, MUHLENBERG, NELSON, NICHOLAS, OHIO, OLDHAM, OWEN, OWSLEY, PENDLETON, PERRY, PIKE, POWELL, PULASKI, ROBERTSON, ROCKCASTLE, ROWAN, RUSSELL, SCOTT, SHELBY, SIMPSON, SPENCER, TAYLOR, TODD, TRIGG, TRIMBLE, UNION, WARREN, WASHINGTON, WAYNE, WEBSTER, WHITLEY, WOLFE, WOODFORD, WOODFORD
To change your preferences, click here.
Address Bed/Bath Price
65 Bon Jan Lane 3/1 $51,590.00 – GovtBid
Highland Heights, KY 41076 Foreclosure Sale
7234 Nekirk Rd. 3/1 $25,460.00 – GovtBid
Ashland, KY 41102 Foreclosure Sale
275 Highway 227 N 3/1 $42,210.00 – GovtBid
New Liberty, KY 40355 Foreclosure Sale
171 State Route 1461 3/2 $24,790.00 – GovtBid
Fulton, KY 42041 Foreclosure Sale
204 N. Madison St. 2/1 $26,800.00 – GovtBid
Owenton, KY 40359 Foreclosure Sale
1254 Baker Branch Rd 2/1 $60,195.00 – GovtBid
Tutor Key, KY 41263 Foreclosure Sale

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BRECKINRIDGE
331 E 6TH STREET 12/19/2016
HARDINSBURG, KY 40143
FAYETTE
419 DABNEY DRIVE 1/9/2017
LEXINGTON, KY 40502
HARDIN
249 INDIANA TRAIL 1/5/2017
RADCLIFF, KY 40160
JEFFERSON
1276 MORGAN AVE 1/13/2017
LOUISVILLE, KY 40213
1623 BELMAR DRIVE 1/13/2017
LOUISVILLE, KY 40213
1106 CLAYBOURNE ROAD 1/13/2017
LOUISVILLE, KY 40214
1529 BICKNELL AVE 1/13/2017
LOUISVILLE, KY 40215
1108 VINEWOOD RD 1/13/2017
LOUISVILLE, KY 40219
1534 WALTER AVE 1/27/2017
LOUISVILLE, KY 40215
4421 MCGILL DR 1/27/2017
LOUISVILLE, KY 40215
LOGAN
5360 TAYLOR BARROW ROAD 12/20/2016
AUBURN, KY 42206
MEADE
575 DUGOUT DR 1/9/2017
VINE GROVE, KY 40175
PENDLETON
310 BEECH ST 12/15/2016
FALMOUTH, KY 41040
SHELBY
46 CHRISTIANBURG ROAD 12/15/2016
SHELBYVILLE, KY 40065

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$72,500Back on Market

3522 Alpha Ct
Erlanger, KY 41018

5 Beds |3 Baths | 1919 sq. ft.

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$82,900Price Reduced

8020 Us Highway 23 S
Pikeville, KY 41501

4 Beds |1 Baths | 3140 sq. ft.

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$109,900Price Reduced

245 Andromeda Dr
Paducah, KY 42001

4 Beds |3 Baths | 2566 sq. ft.

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$189,900Active

7815 Appleview Ln
Louisville, KY 40228

3 Beds |3 Baths | 2486 sq. ft.

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$74,900Active

313 Town Branch Rd
Manchester, KY 40962

3 Beds |2 Baths | 1248 sq. ft.

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$99,900Active

402 Linda Dr
Hopkinsville, KY 42240

3 Beds |3 Baths | 1440 sq. ft.

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$58,000Active

2708 Hidden Valley Dr
Catlettsburg, KY 41129

2 Beds |1 Baths | 1315 sq. ft.

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Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
 Fax:     (502) 327-9119
 
 

 

11 New Fannie Mae Homes in Kentucky Louisville Kentucky Mortgage First Time Home Buyer


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$145,000Just Listed

1520 Bryan Rd
Boaz, KY 42027

3 Beds |2 Baths | 1421 sq. ft.

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$292,500Just Listed

3510 Mcneil Rd
Boaz, KY 42027

4 Beds |2 Baths

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$126,900Back on Market

7016 Maple Leaf Dr
Maysville, KY 41056

3 Beds |2 Baths | 1680 sq. ft.

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$74,900Price Reduced

313 Town Branch Rd
Manchester, KY 40962

3 Beds |2 Baths | 1248 sq. ft.

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$15,000Price Reduced

2030 Clay St
Paducah, KY 42001

4 Beds |2 Baths | 1660 sq. ft.

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$85,000Price Reduced

20763 Highway 190
Frakes, KY 40940

3 Beds |2 Baths | 1475 sq. ft.

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$21,900Active

210 N 35th St
Louisville, KY 40212

2 Beds |1 Baths | 1119 sq. ft.

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$325,000Active

15500 Pfanstiel Rd
De Mossville, KY 41033

3 Beds |4 Baths | 3389 sq. ft.

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$72,500Active

3522 Alpha Ct
Erlanger, KY 41018

5 Beds |3 Baths | 1919 sq. ft.

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1924 Northern Dancer Ct
Owensboro, KY 42301

3 Beds |1 Baths | 1160 sq. ft.

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2885 Laton Turner Rd
Upton, KY 42784

3 Beds |2 Baths | 1800 sq. ft.

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

Louisville Kentucky Mortgage Lender for  FHA, VA, KHC, USDA and Rural Housing  Kentucky Mortgage

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage
I specialize in Kentucky FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 589 Kentucky families buy their first home and refinance their current mortgage for a lower rate; First time buyer $0 money down still a

HOW MUCH ARE CLOSING COSTS FOR A FHA, VA, USDA MORTGAGE LOAN IN KENTUCKY?


First Time Home Buyer Louisville Kentucky Mortgage Programs 1
First Time Home Buyer Programs Louisville Kentucky 1
A Complete Guide to Closing Costs

Louisville Kentucky Mortgage Loans

A Complete Guide to Closing Costs .    Complete Guide to Closing Costs A Complete Guide to Closing Costs Types of Closing Costs Let’s talk briefly about the types of closing costs you might enc…

A Complete Guide to Closing Costs

A Complete Guide to Closing Costs

Types of Closing Costs

Let’s talk briefly about the types of closing costs you might encounter and how much those costs tend to run. Understand that closing costs, especially tax-related costs, will vary widely depending on where you live. But some costs can be estimated based on national averages.
Also, you should know that with fluctuations in the real estate market, closing costs are also fluctuating. A 2012 US News article pointed out that closing costs dropped 7 percent over 2011-2012 to an average of about $3,754.
The drops are, in part…

View original post 1,975 more words

Kentucky Mortgage Rates Today


Today’s Rates for Kentucky FHA, VA, USDA, Conforming Mortgage Loans
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 Kentucky Mortgage Rates Interest Rate APR Discount Points Down Payment
30 Year Conforming Fixed 3.500% 3.561% 0.00 25%
15 Year Conforming Fixed 2.875% 2.983% 0.00 25%
30 Year FHA Fixed 3.250% 4.323% 0.00 3.50%
30 Year VA Fixed 3.250% 3.493% 0.00 0%
30 Year USDA Fixed 3.125% 3.931% 0.00 0%

Mortgage interest rates shown are based on a 30-day lock period.

Mortgage rates as of 10/26/2016 10:46 AM ET.   Interest rates and annual percentage rates (APRs) are based on current market conditions and are for informational purposes only. Interest rates and loan program terms are subject to change without notice and may be subject to pricing adjustors related to property type, loan amount, loan-to-value, credit score and other variables. Accuracy is not guaranteed and products may not be available to all borrowers, based on their individual situation. Kentucky Only Rates. This is not a credit decision or commitment to lend. Depending on loan guidelines, mortgage insurance may be required and the mortgage insurance premium could increase the APR and monthly mortgage payment. Additional loan programs may be available.

Kentucky Mortgage Loan Assumptions

  • Kentucky Conforming Conventional 15yr and 30yr Fixed
    • $300,000 Single-Family Purchase of Primary Residence (detached)
    • $225,000 Loan Amount (75% LTV and 25% Down Payment)
    • 745 FICO Score
  • Government Kentucky FHA 30yr Fixed
    • $200,000 Single-Family Purchase of Primary Residence (detached)
    • $193,000 Base Loan Amount (96.50% LTV and 3.50% Down Payment)
    • 720 FICO Score
  • Government  Kentucky VA 30yr Fixed
    • $200,000 Single-Family Purchase of Primary Residence (detached)
    • $200,000 Base Loan Amount (100% LTV and 0% Down Payment)
    • 720 FICO Score
  • Government Kentucky USDA 30yr Fixed
    • $200,000 Single-Family Purchase of Primary Residence (detached)
    • $200,000 Base Loan Amount (100% LTV and 0% Down Payment)
    • 720 FICO Score
  • Your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan. Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment. Even the value of your home will affect your payment.

    Just as an example, let’s say you are borrowing $250,000.00 for 30 years with an interest rate of 3.800%. If the value of your home is $300,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,644.06. This is because you need to pay $1,164.89 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.

    Since your loan to value ratio is 83.33%, you will also have to pay PMI for 25 months which will add an extra $104.17 a month. Don’t forget to drop the PMI when the 25 months is complete and you might save yourself some money each month. Canceling your PMI will require a reappraisal of your home in most cases.

    DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it’s applicability to your financial situation. Please consult your 0f financial and/or tax advisor.

 

 




 

 

 

 

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The vi0ew 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). I lend in the following states: Kentucky
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Kentucky USDA Rural Housing Homes For Sale and Mortgage Loans


 

 Louisville Kentucky Mortgage Rates

 

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502-905-3708

 

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Your properties subscription for USDA Single Family Housing is kentuckyloan@gmail.com as of 10/23/2016
State Days Old Counties
KY 365 ADAIR, ALLEN, ANDERSON, BALLARD, BARREN, BATH, BELL, BOONE, BOURBON, BOYD, BOYLE, BRACKEN, BREATHITT, BRECKINRIDGE, BULLITT, BUTLER, CALDWELL, CALLOWAY, CAMPBELL, CARLISLE, CARROLL, CARTER, CASEY, CHRISTIAN, CLARK, CLAY, CLINTON, CRITTENDEN, CUMBERLAND, DAVIESS, EDMONSON, ELLIOTT, ESTILL, FAYETTE, FLEMING, FLOYD, FRANKLIN, FULTON, GALLATIN, GARRARD, GRANT, GRAVES, GRAYSON, GREEN, GREENUP, HANCOCK, HARDIN, HARLAN, HARRISON, HART, HENDERSON, HENRY, HICKMAN, HOPKINS, JACKSON, JEFFERSON, JESSAMINE, JOHNSON, KENTON, KNOTT, KNOX, LARUE, LAUREL, LAWRENCE, LEE, LESLIE, LETCHER, LEWIS, LINCOLN, LIVINGSTON, LOGAN, LYON, MADISON, MAGOFFIN, MARION, MARSHALL, MARTIN, MASON, MCCRACKEN, MCCREARY, MCLEAN, MEADE, MENIFEE, MERCER, METCALFE, MONROE, MONTGOMERY, MORGAN, MUHLENBERG, NELSON, NICHOLAS, OHIO, OLDHAM, OWEN, OWSLEY, PENDLETON, PERRY, PIKE, POWELL, PULASKI, ROBERTSON, ROCKCASTLE, ROWAN, RUSSELL, SCOTT, SHELBY, SIMPSON, SPENCER, TAYLOR, TODD, TRIGG, TRIMBLE, UNION, WARREN, WASHINGTON, WAYNE, WEBSTER, WHITLEY, WOLFE, WOODFORD, WOODFORD
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Address Bed/Bath Price
23 Hale St. 3/1 $26,800.00 – GovtBid
Stanton, KY 40380 Foreclosure Sale
500 White Oak Rd 3/2 $17,000.00 – GovtBid
Irvine, KY 40336 Foreclosure Sale
148 Falls Lane 3/1 $33,500.00 – GovtBid
Clearfield, KY 40313 Foreclosure Sale
1203 S 6th St 4/2 $12,500.00 – GovtBid
Mayfield, KY 42066 Foreclosure Sale
604 Wells Avenue 3/2 $16,750.00 – GovtBid
Fulton, KY 42041 Foreclosure Sale
15077 N. State Highway 7 3/1 $24,120.00 – GovtBid
Grayson, KY 41143 Foreclosure Sale
1905 Stacy Lane Rd 3/1 $16,750.00 – GovtBid
Irvine, KY 40336 Foreclosure Sale
24 Golden Gates Drive 4/2 $47,570.00 – GovtBid
Wingo, KY 42088 Foreclosure Sale
406 Indian Hills Circle 3/1 $34,170.00 – GovtBid
Vanceburg, KY 41179 Foreclosure Sale
91 Roxanne St 3/1 $18,760.00 – GovtBid
Clearfield, KY 403139771 Foreclosure Sale
117 Beechmont Drive 3/1 $31,490.00 – GovtBid
Nicholasville, KY 40356 Foreclosure Sale
275 Highway 227 N 3/1 $42,210.00 – GovtBid
New Liberty, KY 40355 Foreclosure Sale
1721 Village Lane 3/1 $23,450.00 – GovtBid
Shelbyville, KY 40065 Foreclosure Sale
177 Crawford Rd 3/1 $30,820.00 – GovtBid
Clearfield, KY 403139648 Foreclosure Sale
2201 Brent Drive 3/1 $8,500.00 – GovtBid
Madisonville , KY 42431 Foreclosure Sale
415 Grassy Knoll Rd. 2/2 $28,140.00 – GovtBid
Flemingsburg, KY 41041 Foreclosure Sale
1225 Tim Tam Way 3/2 $64,695.00 – GovtBid
Lawrenceburg, KY 40342 Foreclosure Sale
171 State Route 1461 3/2 $24,790.00 – GovtBid
Fulton, KY 42041 Foreclosure Sale
204 N. Madison St. 2/1 $26,800.00 – GovtBid
Owenton, KY 40359 Foreclosure Sale
125 Gloria Dr. 3/1 $36,850.00 – GovtBid
Shelbyville, KY 400658910 Foreclosure Sale
2 Pebble Court 3/1 $30,820.00 – GovtBid
Frankfort, KY 40601 Foreclosure Sale
381 Dunroven Dr. 4/1.5 $40,200.00 – GovtBid
Versailles, KY 40383 Foreclosure Sale
377 Damron Br. 3/1 $26,130.00 – GovtBid
Grayson, KY 41143 Foreclosure Sale

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 502-905-3708

Joel Lobb
Senior Loan Officer
(NMLS#57916
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com

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). USDA 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. Manufactured and mobile homes are not eligible as collateral.

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Company ID #1364 | MB73346