Category: Uncategorized

Government Shutdown Affects USDA Loans


Government Shutdown Affects USDA Loans

Louisville Kentucky Mortgage Loans

via Government Shutdown Affects USDA Loans

Government Shutdown Affects USDA Loans

Most are familiar with USDA Rural Housing Loan Program  being a great no money down program available and it is not just for Kentucky first time buyers. 
images (12)
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…

View original post 21 more words

Advertisements

Kentucky Mortgage Rates for FHA, VA, KHC, USDA,


Louisville Kentucky Mortgage Loans

Kentucky Mortgage Rates for FHA, VA, KHC, USDA,
FHA, VA, USDA, Fannie Mae and KHC Mortgage Rates in Kentucky 30 year fixed, 15 year fixed, 10 year fixed rate mortgage loans in Kentu
10602 Timberwood Circle, Suite 3
Louisville, KY 40223
Phone: 5029053708 http://mylouisvillekentuckymortgage.com

Current Interest Rates

Fixed Rate Programs
Adjustable Rate Programs ]

Rates as of January 24, 2018  11:27:20 AM    Old Date? Lock
days
Qualifying
Ratios
Program Rate Points APR
Conforming 30 year FRM 3.750 1.000 4.987 30 35 / 45
rates subject to underwriting credit criteria-
Conforming 15 year FRM 3.375 1.000 3.984 30 35 / 45
rates subject to underwriting credit criteria-
FHA 30 year FRM 3.250 1.000 4.874 30 35 / 50
rates subject to underwriting credit criteria-
FHA 20 year FRM 3.500 1.000 4.425 30 28 / 50
rates subject to underwriting credit criteria-
FHA 15 year FRM 3.250 1.000 4.187 30 35 / 50

View original post 148 more words

Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial.


Compensating Factors to over turn a Kentucky VA Loan Mortgage Denial
Compensating factors may affect the loan decision for a Kentucky VA Mortgage. These factors are especially important when reviewing loans which are marginal with respect to residual income or debt-to-income ratio. They cannot be used to compensate for unsatisfactory credit.
Valid compensating factors to over turn a Kentucky VA Mortgage loandenial should represent unusual strengths rather than mere satisfaction of basic program requirements. For example, the fact that an applicant has sufficient assets for closing purposes, or meets the residual income guideline, is not a compensating factor.
Valid compensating factors should logically be able to compensate (to some extent) for the identified weakness in the loan. For example, significant liquid assets may compensate for a residual income shortfall whereas long-term employment would not.
502-905-3708
Compensating factors include, but are not limited to the following:

· excellent credit history,
· conservative use of consumer credit,
· minimal consumer debt,
· long-term employment,
· significant liquid assets,
· sizable downpayment,
· the existence of equity in refinancing loans,
· little or no increase in shelter expense,
· military benefits,
· satisfactory homeownership experience,
· high residual income,
· low debt-to-income ratio,
· tax credits for child care, and
· tax benefits of home ownership.
If you looking to get approved for a Kentucky VA Mortgage, give us a call today. We can go down to 640 credit scores for VA loans in Kentucky, and the maximum debt to income ratio on some cases can go as high as 50% with the above compensating factors.

click to apply

Louisville Kentucky Mortgage Loans

via Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial.

Compensating Factors to over turn a Kentucky VA Loan Mortgage Denial

Compensating factors may affect the loan decision for a Kentucky VA Mortgage.  These factors are especially important when reviewing loans which are marginal with respect to residual income or debt-to-income…

View original post 216 more words

Mortgage Insurance Rates Increasing on Louisville Kentucky FHA Loans


Mortgage Rates Kentucky « Kentucky First Time Home Buyer Mortgage Loan

Kentucky FHA Mortgage Loans Guidelines

Mortgage Insurance Rates Increasing on FHA Loans.

Mortgage Insurance Rates Increasing on FHA Loans in Louisville Kentucky

by MERIDITH DOUCETTE on MARCH 21, 2012


FHA Mortgage Insurance Rates Will Be Going Up on All New FHA loans in Louisville Kentucky Assigned April 9, 2012 and After.

FHA Loans are loans insured by the Federal Housing Administration (FHA). These insured loans minimize the risk lenders face by allowing buyers a down payment less than 20% of the price of the home. FHA Loans offer features that are attractive to many home buyers such as:

  • Low Down Payment – as low as 3.5% of the purchase price of the home
  • Low Closing Costs – closing costs, mortgage insurance and other fees can be included in the loan
  • Easier Credit Qualifications – those who don’t have the credit score or history to qualify for a conventional loan may qualify for FHA financing

View original post 428 more words

Fed Raises Mortgage Interest Rates and Projects Three More Hikes in 2018 & 2019


Kentucky Mortgage Rates for FHA, VA, KHC, USDA,
FHA, VA, USDA, Fannie Mae and KHC Mortgage Rates in Kentucky 30 year fixed, 15 year fixed, 10 year fixed rate mortgage loans in Kentu
10602 Timberwood Circle, Suite 3
Louisville, KY 40223
Phone: 5029053708 http://mylouisvillekentuckymortgage.com
Current Interest Rates

Fixed Rate Programs
[ Adjustable Rate Programs ]

Rates as of January 24, 2018 11:27:20 AM Old Date? Lock
days Qualifying
Ratios
Program Rate Points APR
Conforming 30 year FRM 3.750 1.000 4.987 30 35 / 45
rates subject to underwriting credit criteria-
Conforming 15 year FRM 3.375 1.000 3.984 30 35 / 45
rates subject to underwriting credit criteria-
FHA 30 year FRM 3.250 1.000 4.874 30 35 / 50
rates subject to underwriting credit criteria-
FHA 20 year FRM 3.500 1.000 4.425 30 28 / 50
rates subject to underwriting credit criteria-
FHA 15 year FRM 3.250 1.000 4.187 30 35 / 50
rates subject to underwriting credit criteria-
VA 30 Year FRM 3.250 1.000 4.379 30 41 / 41
rates subject to underwriting credit criteria-
VA 15 Year FRM 3.250 1.000 4.987 30 0 / 0
rates subject to underwriting credit criteria-

Adjustable Rate Programs

Rates as of January 24, 2018 11:27:20 AM Old Date? Lock
days Qualifying
Ratios
Program Rate Points APR Index Margin Caps
Please note:
This is not an advertisement for credit as defined by paragraph 226.24 of regulation Z.
APR calculations based on a loan amount of $200,000 for conforming loans, $500,000 for jumbo loans and a maximum loan-to-value ratio of 80%.
Rates, points and programs are subject to change without notice and cannot be guaranteed.
Rates Last Updated: 1/6/2018 10:50:17 AM

This web page is designed and maintained by Mortgage-X.com

Rates expected to upsurge to 4.6% in 2018 and over 5% in 2019 and 2020.

Fed Raises Mortgage Interest Rates and Projects Three More Hikes in 2018 and 2019.

2017 has been quite a ride for Mortgage Interest rates in the US. While some months, saw a decrease in rates, others saw an increase owing to the rate hikes by the FED. The US economy saw the third interest hike of 2017 with the Federal Reserve raising interest rates by a quarter of a percentage point on Wednesday (Dec 13) and is projecting three more hikes in 2018 and two more in 2019. Also, according to a recent Housingwire article, top economists at the Mortgage Bankers Association (MBA) predict purchase mortgage volume will grow, while refinances will decrease as interest rates continue to rise. Mortgage interest rates are expected to upsurge to 4.6% in 2018 and exceed 5% by 2020.  This does raise a question about borrowers’ ability to handle growing rates as well…

View original post 338 more words

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