Tag: Credit history

WHAT IS THE WAIT TIME INVOLVED TO GET APPROVED FOR A MORTGAGE AGAIN AFTER A BANKRUPTCY, FORECLOSURE, SHORT-SALE AND JOB GAP LOSS


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The difference between a front-end and a back-end debt-to-income ratio for a Kentucky Mortgage Loan FHA, VA, KHC, USDA, Fannie Mae


The difference between a front-end and a back-end debt-to-income ratio for a Kentucky Mortgage Loan FHA, VA, KHC, USDA, Fannie Mae
You should know what you can afford before beginning your search for a home. This enables you to
focus on realistic choices and saves you time and effort.
This section will show you how to calculate the amount you comfortably can spend for a home. What
is the difference between a front-end and a back-end debt-to-income ratio?
Before making a loan, the lender wants to be certain the borrower has the ability to repay. Before
approving your mortgage loan application a lender will look at several factors to gauge the risk
you pose as a borrower. There are two calculations your lender makes when determining your level of
indebtedness.

Monthly debt obligations are the primary benchmark used to determine whether the borrower will be able to meet the expenses involved in home ownership. Housing expense is considered one of several components that make up the total debt-to-income ratio benchmark; there is not a separate housing-to-income benchmark unto itself.
Maximum Debt Ratios
Maximum ratios are 31%/43% for manually underwritten loans.
Note:

Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times


Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times.

via Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times.

HARP 2.0 Refinance Guidelines for Fannie Mae and Freddie Mac Louisville Kentucky Mortgage Loans


HARP 2.0 Refinance Guidelines for Fannie Mae and Freddie Mac Louisville Kentucky Mortgage Loans.

via HARP 2.0 Refinance Guidelines for Fannie Mae and Freddie Mac Louisville Kentucky Mortgage Loans.

Jumbo mortgage loans are back on the table – The Santa Fe New Mexican: Home/Real Estate


Jumbo mortgage loans are back on the table – The Santa Fe New Mexican: Home/Real Estate.

via Jumbo mortgage loans are back on the table – The Santa Fe New Mexican: Home/Real Estate.

6 Tips: How to Rebuild Your Credit and Buy a Home


6 Tips: How to Rebuild Your Credit and Buy a Home.

via 6 Tips: How to Rebuild Your Credit and Buy a Home.

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.

Affordable Housing Development Program – Revitalization – LouisvilleKy.gov


Affordable Housing Development Program – Revitalization – LouisvilleKy.gov.

via Affordable Housing Development Program – Revitalization – LouisvilleKy.gov.

Louisville Kentucky Primary Mortgage Market Survey Results from Freddie Mac


Louisville Kentucky Primary Mortgage Market Survey Results

September 15, 2011

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.09 4.11 4.16 4.12 4.13 4.01
Fees & Points 0.7 0.6 0.8 0.6 0.8 0.9
15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.30 3.32 3.31 3.29 3.37 3.25
Fees & Points 0.6 0.7 0.8 0.4 0.7 0.6
5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.99 3.03 2.95 3.13 2.96 2.90
Fees & Points 0.6 0.6 0.6 0.4 0.8 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73
1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.81 2.85 2.72 3.13 2.70 2.68
Fees & Points 0.6 0.7 0.6 0.5 0.6 0.5
Margin 2.76 2.80 2.75 2.72 2.77 2.75
The National Mortgage Rate Snapshot One Year Ago One Week Ago
  30-YR 15-YR 5/1-YR 1-YR ARM 30-YR 15-YR 5/1-YR 1-YR ARM
Average 4.37   3.82   3.55   3.40   4.12   3.33   2.96   2.84  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.6   0.6  
Margin N/A N/A 2.74   2.77   N/A N/A 2.74   2.76  

Louisville Kentucky Mortgage Market Survey

Freddie Mac’s Primary Mortgage Market Survey (PMMS) is for informational purposes only and Freddie Mac is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available from any lender. Freddie Mac may change the methodology used to conduct the PMMS at any time and without notice.

Credit Scores Needed to qualify for a Ky Mortgage


Credit Scores Needed to qualify for a Ky Mortgage.