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Mortgage Lender Louisville Kentucky For First Time Home Buyers
Category: Townhomes approved FHA/VA Louisville
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Kentucky Mortgage Rates | Interest Rate | APR | Discount Points | Down Payment |
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30 Year Conforming Fixed | 3.500% | 3.561% | 0.00 | 25% |
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15 Year Conforming Fixed | 2.875% | 2.983% | 0.00 | 25% |
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30 Year FHA Fixed | 3.250% | 4.323% | 0.00 | 3.50% |
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30 Year VA Fixed | 3.250% | 3.493% | 0.00 | 0% |
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30 Year USDA Fixed | 3.125% | 3.931% | 0.00 | 0% |
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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
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.
Kentucky FHA Mortgage Guidelines.
via Kentucky FHA Mortgage Guidelines.