Category: FHA Guidelines

New Fannie Mae Homes in Kentucky


New Fannie Mae Homes in Kentucky

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$22,500Back on Market

2691 Us 231 South
Beaver Dam, KY 42320

3 Beds |1 Baths | 1800 sq. ft.

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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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$104,900Price Reduced

120 Ridgemont Rd
Paducah, KY 42003

3 Beds |3 Baths | 2429 sq. ft.

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$265,000Price Reduced

146 Grand Oak Blvd
Shepherdsville, KY 40165

4 Beds |3 Baths | 2534 sq. ft.

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$25,000Price Reduced

532 Kellacey Rd
West Liberty, KY 41472

3 Beds |1 Baths

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$59,000Price Reduced

517 Washington Ave
Paintsville, KY 41240

3 Beds |2 Baths | 2242 sq. ft.

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$89,900Price Reduced

112 Valley Brook Dr
Frankfort, KY 40601

3 Beds |2 Baths | 1127 sq. ft.

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$28,900Price Reduced

319 H Hale Dr
East Point, KY 41216

3 Beds |2 Baths | 1253 sq. ft.

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$315,000Price Reduced

2440 Lancaster Rd
Richmond, KY 40475

4 Beds |5 Baths | 3525 sq. ft.

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$139,900Price Reduced

1336 Equestrian Way
Frankfort, KY 40601

4 Beds |4 Baths | 1676 sq. ft.

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$64,900Price Reduced

2116 Quillman Rd
Louisville, KY 40214

4 Beds |1 Baths | 1440 sq. ft.

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$180,000Active

11131 Misty Wood Ct
Walton, KY 41094

4 Beds |2.5 Baths

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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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Down Payment and Closing Costs Assistance


Down Payment and Closing Costs Assistance.;

 

FAQ’s about Kentucky FHA Home Loans

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>Louisville Kentucky updated FHA Guidelines


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Louisville Kentucky updated FHA Guidelines

FHA Purchase

Minimal Down Payment and Closing Costs.

Down payment less than 3.5% of Sales Price

100% Financing options available*

Gift for down payment and closing costs allowed.

No reserves or required.

FHA regulated closing costs.

Seller can credit up to 6% of sales price towards buyers costs.

FHA Refinance

Cash-Out Refinance up to 85% for existing or new FHA mortgages.

Cash-Out up to 85% of your properties value.

Consolidate first and second mortgages into single loan.

Bill consolidation programs.

Easier credit and income qualifications.

FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

Minimum FICO credit score of 640.

FHA will allow a home purchase two years after a Bankruptcy.

FHA will allow a home purchase three years after a Foreclosure.

Rate and Term Mortgage Refinancing up to 96.5% of your homes value.

Consolidate first and second mortgages* into a single loan.

 640 credit score.

Competitive rates for borrowers with a Bankruptcy older than two years.

Competitive rates for borrowers with a Foreclosure older than three years.

Easier credit and income qualifications.

FHA regulated closing costs.

FHA Streamline Refinance

For existing FHA loans only..

No Cost Interest Rate Reductions programs.

Zero cost refinance options available.

Easily switch amortization for adjustable to fixed or vice versa.

Easily shorten or lengthen term of your existing loan.

Easily shorten or lengthen term of your existing loan.