Category: Credit Score First Time Home Buyer Louisville Kentucky KHC

24 New Fannie Mae Homes in Kentucky Government Foreclosures 2017


gdsgdsgdfgd01414_ayaynqojqrd_600x450gfgfsdgfsgsdfgdsgdsfgdf

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

 

unnamed-2

Kentucky FHA Mortgage Guidelines


Kentucky FHA Mortgage Guidelines.

via Kentucky FHA Mortgage Guidelines.

Current Guidelines for Louisville Kentucky Mortgage programs including FHA, VA, KHC, USDA, and Fannie Mae Home Loans in the State of Kentucky
NMLS# 57916
502-905-3708
kentuckyloan@gmail.com

Joel Lobb
Senior  Loan Officer

(NMLS#57916)
 
 phone: (502) 905-3708
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 

Louisville Kentucky Mortgage Rates

Louisville Kentucky Mortgage Rates


Louisville Kentucky Mortgage Rates

images+%285%29

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                    3.75%            3.874% apr

30 Year Fixed Conventional                    4.25%            4.487% apr

30 Year Fixed Kentucky FHA                  3.75%            5.187%apr

30 Year Fixed Kentucky USDA                3.75%            3.971% apr

30 year Fixed Kentucky VA                      3.75%             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
 
unnamed (2) (1)
 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 CONFIDENT

7 LITTLE KNOWN WAYS TO IMPROVE YOUR CREDIT SCORE


7 LITTLE KNOWN WAYS TO IMPROVE YOUR CREDIT SCORE.

via 7 LITTLE KNOWN WAYS TO IMPROVE YOUR CREDIT SCORE.

>Kentucky First Time Home Buyer Programs 2011


>Kentucky First Time Home Buyer Programs 2011.

Credit Scores Needed to qualify for a Ky Mortgage


Credit Scores Needed to qualify for a Ky Mortgage.

What can I do to improve my credit score for a Kentucky Mortgage Loan Approval?


 What can I do to improve my credit score for a Kentucky Mortgage Loan Approval?

What can I do to improve my score?

 

Credit scoring systems are complex and vary among creditors or insurance companies and for different types of credit or insurance. If one factor changes, your score may change — but improvement generally depends on how that factor relates to others the system considers. Only the business using the scoring knows what might improve your score under the particular model they use to evaluate your application.

 

Nevertheless, scoring models usually consider the following types of information in your credit report to help compute your credit score:

 

  • Have you paid your bills on time? You can count on payment history to be a significant factor. If your credit report indicates that you have paid bills late, had an account referred to collections, or declared bankruptcy, it is likely to affect your score negatively.
  • Are you maxed out? Many scoring systems evaluate the amount of debt you have compared to your credit limits. If the amount you owe is close to your credit limit, it’s likely to have a negative effect on your score.
  • How long have you had credit? Generally, scoring systems consider the length of your credit track record. An insufficient credit history may affect your score negatively, but factors like timely payments and low balances can offset that.
  • Have you applied for new credit lately? Many scoring systems consider whether you have applied for credit recently by looking at “inquiries” on your credit report. If you have applied for too many new accounts recently, it could have a negative effect on your score. Every inquiry isn’t counted: for example, inquiries by creditors who are monitoring your account or looking at credit reports to make “prescreened” credit offers are not considered liabilities.
  • How many credit accounts do you have and what kinds of accounts are they? Although it is generally considered a plus to have established credit accounts, too many credit card accounts may have a negative effect on your score. In addition, many scoring systems consider the type of credit accounts you have. For example, under some scoring models, loans from finance companies may have a negative effect on your credit score.

 

Scoring models may be based on more than the information in your credit report. When you are applying for a Kentucky mortgage loan, for example, the system may consider the amount of your down payment, your total debt, and your income, among other things.

 

Improving your score significantly is likely to take some time, but it can be done. To improve your credit score under most systems, focus on paying your bills in a timely way, paying down any outstanding balances, and staying away from new debt

What can I do to improve my credit score for a Kentucky Mortgage Loan Approval?

Tips for a Better FICO® Score


Tips for a Better FICO® Score It’s important to note that raising your FICO® Score is a bit like being on a diet to lose weight. It takes time and there is no quick fix. In fact, quick-fix efforts can backfire. The best advice is to manage your credit responsibly over time. Here are some tips and advice for managing and improving your FICO® Scores. Pay on Time Always pay your bills on time Late payments and collections can have a major impact on your FICO® Scores. Also, note that paying off a collection account, or closing an account on which you previously missed a payment, will not remove it from your credit report. It will stay on your report for seven years. If you have missed payments, get current and stay current The less time your payments are late, and the longer that you pay your bills on time, the better your FICO® Score will become. If you’ve had a hard time paying your bills on time, consider signing up for an automated bill payment service. If you are having trouble paying your bills… Contact your creditors or see a legitimate credit counselor. This won’t improve your FICO® Score immediately, but if you can begin to manage your credit responsibly and start paying bills on time, your score should get better over time. Keep your balances low High balances on your credit cards and other revolving credit will lower your FICO® Score. You may want to increase the amounts of your monthly payments until all balances are below 10% of your credit limits in order to improve your FICO® Score. Manage Your Accounts Have credit cards, but manage them responsibly In general, having credit cards and installment loans and making all their payments on time will raise your FICO® Score. People with no credit cards, for example, tend to be slightly higher risk than people who have shown they can manage credit cards responsibly. Do not open cards that you don’t need While your available credit amount might increase, this behavior could backfire and lower your FICO® Score. New accounts will lower the average time you’ve had credit accounts established, which can have a larger effect on your score if you don’t have a lot of other credit information on your credit report. Keep in mind: Even if you have used credit for a long time, opening a new account can still lower your score. Don’t close unused credit cards Owing the same amount but having fewer open accounts may actually lower your FICO® Scores. Closing accounts that have been established a long time ago can also reduce the average time your credit has been established and also lower your FICO® Score. It’s OK to request and check your own credit report. This won’t affect your score, as long as you order your credit report directly from a credit reporting agency or through another organization that is authorized to provide credit reports to consumers. Every 12 months you are entitled by law to one free credit report from each credit reporting agency through AnnualCreditReport.com. When Seeking New Credit… Do your rate shopping within a short period of time If you’re looking for a mortgage, student loan, or an auto loan, you may want to check with several lenders to find the best rate. This can cause multiple lenders to request your credit report, even though you’re only looking for one loan. These requests are referred to as inquiries, and in some cases (outside of shopping for a mortgage, auto or student loan) frequent inquiries for multiple types of credit and loans can indicate higher risk (and therefore could lower your scores). To compensate for this, FICO® Scores distinguish between a search for a single loan, and a search for many new credit lines. They also compensate for rate shopping, in part, by looking at the length of time during which inquiries occur; so, when you need an auto, student, or home loan, you can avoid lowering your FICO® Score by doing your rate shopping within a short period of time, such as 45 days. Re-establish your credit history if you’ve had problems in the past Opening new accounts responsibly and paying them on time each month helps to develop a positive history that will raise your FICO® Score in the long term. Don’t forget to keep paying all your other accounts on time. Just one delinquency reported on your credit report can set you back. Seek help from a non-profit credit counseling agency if you’re continuing to have problems paying your bills each month A legitimate credit counseling agency can work with your creditors to lower your monthly payments while protecting your FICO® Score. Improvement Takes Time Your FICO® Score is based on the information in your credit report at one point in time and can change whenever your credit report changes. But your scores probably won’t improve a lot from one month to the next. While a bankruptcy or late payments can lower your FICO® Score fast, improving your FICO® Score takes time. That’s why it’s a good idea to check and monitor your FICO® Scores 6 to 12 months before applying for a big loan, so you have time to take action if needed. If you are actively working to improve your FICO® Score, you may want to check your score quarterly or even monthly to review changes. Please see our instructions on where to get your credit reports and scores.

>Kentucky FHA Mortgage Rates | Buying down your mortgage rate, and “2-1 buy-down.”


>

Kentucky FHA Mortgage–Pay points to buy down rate : What t is the difference

Gina Pogol
October 19th, 2010
If you spend much time reading about Kentucky FHA mortgages, you come across two terms: “Buying down” your mortgage rate, and “2-1 buy-down.” They sound similar, but they are completely different concepts.
Buying down your mortgage rate
This simply means getting a lower interest rate by paying higher fees. For example, you might be able to get a 30-year mortgage with a 5% interest rate at no cost — no loan fees, no appraisal fees, no nothing. Or you might be offered 4.5% with standard fees. But what if you want 3.5%? You’d have to pay extra — that extra cost is in the form of what are called “discount points.” Each point is one percent of the loan amount, and gets you a discount on your mortgage rate. It might cost you several extra discount points to lower your mortgage rate by a full percent.
Should you pay extra to lower your mortgage interest rate?
It depends on how much it costs and how long you expect to keep the mortgage. An Kentucky FHA mortgage calculator can help with this. For example, if you take out a $300,000 mortgage with no points at 4.75% and expect to keep you home for five years, does it make sense to pay points? A point costs you $3,000, and if it lowers your mortgage rate to 4.5%, the difference in your monthly payment is $45 ($1,565 – $1,520).  In five years, you would have saved $2,700. It doesn’t make sense to pay $3,000 to save $2,700. So what if you shop around for better Kentucky FHA mortgage rates and find a better lender that will drop your rate to 4.25%  for that same $3,000? Your new monthly payment is $1,476, your monthly savings increases to $89, and your savings over five years increases to $5,340. It may then be worth buying your rate down.
The 2-1 buydown
Mortgage rate buydowns are a different story. The FHA 2-1 buydown gets you an interest rate that is lower than the going rate for the first couple of years. So if the market rate on a 30-year mortgage is 4.75%, your interest rate the first year would be 2.75%, the second year it would be 3.75%, and then it would be 4.75% from year three on out. But it’s not like the lender just gives you that sweet deal for nothing. Rate buydowns require that you pay the difference upfront.
Huh?
Yep. Here’s an example of how the cost of a buydown is calculated.
Example: Standard 30-year Kentucky FHA Loan
$100,000 loan amount
8% interest rate = $8,000 a year in interest.
With the 2/1 buy-down the transaction would be as follows:
$100,000 loan amount
1st. year = 6% Interest rate = $6,000 in interest, a savings of $2,000
2nd. year = 7% interest rate = $7,000 in interest, a savings of $1,000
So the lender would charge you $3,000 now for the privilege of saving $3,000 over the next two years.
This is slightly oversimplified because the calculations are a bit more complicated, but it’s pretty much how it works. So unless you can get your seller to pay for it, there is little advantage in the 2-1 buydown for you.
The difference between buying your rate down and a 2-1 buydown is that the 2-1 won’t ever save you more than you pay for it. Buying your rate down can potentially save you more than the cost of the points.