Tag: Loan

Income Requirements for A Kentucky Rural Housing Loan Approval.


Income Requirements for A Kentucky Rural Housing Loan Approval..

via Income Requirements for A Kentucky Rural Housing Loan Approval..

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No Money Down Home Loan Elizabethtown Ky


 No Money Down Home Loan Elizabethtown Ky.

via  No Money Down Home Loan Elizabethtown Ky.

### No Money Down Home Loan Elizabethtown Ky

100% Financing Zero Down100% Rural Housing loan in Kentuckyrhs loans kentuckyRural Housing/ USD LOANS ZERO DOWNUncategorizedUSDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixed | Tagged 

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.

>What NOT To Do After You Apply for a Kentucky Mortgage Loan Approval


>What Not To Do

What NOT To Do After You Apply for a Kentucky Mortgage Loan Approval

Congratulations! You applied for your loan and maybe you finally found the house of your dreams. You made a bid, had it accepted by the seller, and went through the mortgage application process. It looks like you’ll qualify. The closing is only weeks away, and you are feeling pretty good.

It’s smooth sailing from here, right? Probably. However, more than one buyer has had the wind taken out of his sails at this point in a real estate transaction. If at all possible, steer clear of the following “NO-NOs” until AFTER you have gone to settlement.

· Do not take on new debt or apply for new credit cards. The temptation is strong. There are so many big purchases people potentially want to make in connection with a move: appliances, window treatments, furniture, etc.. When you add to this the fact that, today, everyone offers easy terms and no money down – well, why not just do it? Answer: because you will change what the industry calls your “back-end ratios” ( the relationship of your income to your debt). It could also lower your credit score.

· Do not be difficult to reach. The loan officer or processor may need to reach you for additional information or documents. Check your voice mails and emails often. Check your junk email file also. Communication is the key to a smooth closing.

· Do not quit your job, change jobs or take a leave of absence. If at all possible, try not to make a career move during the time between your mortgage application and the closing on the home you are purchasing. But, you ask, “What if it is a BETTER job, for MORE money, in a DIFFERENT field?” Still, try and wait until AFTER closing. One of the factors mortgage companies consider is length of present employment; they are partial to stability. At the very least, changing jobs initiates the need for more paperwork, and maybe a delay in closing.

· Do not stop paying your bills. Pay all your bills on time including rent or mortgages.

· Do not pack too soon. Well, go ahead and pack your clothes and pictures. But, do not pack away your bank statements, tax returns, or other important paperwork. Most especially, do not pack away your checkbook! More than one buyer has had closing delayed while a friend or relative hurried over with additional funds because the checkbook was in the moving van.

· Do not lease a new car. This should go under the general heading of “no new debt”. It is highlighted here because, for some strange reason, many buyers do run right out and lease a new car during the intervening time between mortgage application and closing! As with any debt, this will change your “back-end ratios”, and may cause you not to qualify for your mortgage.

· Do not throw away pay stubs, bank statements, or other financial documents.

· Do not spend your money needed for closing.


· In short, do nothing that negatively impacts your ability to qualify for your mortgage loan, or initiates a new round of paperwork.

These suggestions are merely that – suggestions. No one is saying, flat out, that bad things will necessarily follow if you do any of the above. They are offered as cautions. Many buyers seem to view the mortgage application procedure as an static entity, a snap shot of their financial lives at a given moment in time. It is not. It is an on-going process that can take into account everything you do right up until the day of closing.

What NOT To Do After You Apply for a Kentucky Mortgage Loan Approval

Realty Times – Get a HUD Home for $100 Down Get a HUD Home for $100 Down | Kentucky First Time Home Buyer Mortgage Loan


HUD Home for 0 Down Get a HUD Home for 0 Down | Kentucky First Time Home Buyer Mortgage Loan

Realty Times – Get a HUD Home for $100 Down Get a HUD Home for $100 Down | Kentucky First Time Home Buyer Mortgage Loan.

via Realty Times – Get a HUD Home for $100 Down Get a HUD Home for $100 Down | Kentucky First Time Home Buyer Mortgage Loan.

2013 Louisville Kentucky Mortgage programs


 
2013 Louisville Kentucky Mortgage programs

 

I offer a number of Louisville Kentucky Mortgage programs geared towards today’s home purchase market in Jefferson County Kentucky and surrounding counties to include Oldham and Bullitt County Kentucky.. Whether your customers are first time homebuyers, or looking for a second home or investment property, you can offer just the right program to meet their needs. Plus, with our short turn-times for purchases and extraordinary service levels, you can rest assured that the loan will close efficiently.

Call us today to get started.

 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*

 

Affordable Housing Development Program – Revitalization – LouisvilleKy.gov


Affordable Housing Development Program – Revitalization – LouisvilleKy.gov.

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

Mortgage Rates Kentucky


Mortgage Rates Kentucky.

via Mortgage Rates Kentucky.

Louisville Kentucky Mortgage Rates

 

151 Votes

 

Free Credit Reports. Open all weekend. Call today 502 905 3708
kentuckyloan@gmail.com
NMLS# 57916

  Louisville Kentucky Mortgage Rates

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.Current Mortgage Rates today  in KY: FHA/VA,KHC,USDA,Conventional
 
Current Louisville Kentucky Mortgage Ratesfor today Mortgage Product Mortgage Rates (APR)

Mortgage Rates Louisville, Kentucky

Mortgage rates in Louisville, Kentucky

Free Rate Quotes and Pre-Approvals Same Day!
Free Credit Reports. Open all weekend. Call today 502 905 3708 kentuckyloan@gmail.com NMLS# 57916

15 Year Fixed Conventional                    2.875%            2.887% apr

30 Year Fixed Conventional                    3.500%            3.487% apr

30 Year Fixed Kentucky FHA                  3.250%            4.614% apr

30 Year Fixed Kentucky USDA              3.250%            4.384% apr

30 year Fixed Kentucky VA                    3.250%            4.251% apr

5 Year Arm Jumbo Loan                         3.875%            4.819%apr

30 year Fixed  Jumbo Loan                   4.250%            4.878%apr

 

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.

  • The displayed Annual Percentage Rates (APRs) reflect the interest rates, total points, and additional estimated pre-paid finance charges for the loan products shown, but do not include other closing costs.
  • The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  • For loans with less than 20% down payment borrower-paid mortgage insurance may apply.
  • These mortgage rates are based on a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing.
  • FHA

    • Kentucky FHA loans require both an upfront and an annual mortgage insurance premium. The premium varies based on the loan characteristics, your credit score, whether you’ve received loan counseling, and other factors.
  • Jumbo

    • Kentucky Jumbo Mortgage  rates are higher for borrowers who do not meet the criteria for Conventional Mortgage Loans.,; Please contact your home mortgage consultant for details regarding the  criteria or with any other questions.
  •   VA Loans
                Kentucky VA loans require a funding fee upfront paid to VA in the form of mortgage insurance .he premium varies based on the loan characteristics, your credit score, whether you’ve received loan counseling     factors.
  • USDA Loans
                         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.
NMLS# 57916

Free Credit Report and Pre qualifications available anytime. 

Principal

Key Financial Mortgage of KY is a licensed mortgage company in the state of Kentucky (NMLS#1800) Key Financial Mortgage of KY 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.

This website is not an Government Agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. 



FREE MORTGAGE PREQUALIFICATIONS SAME DAY

Joel Lobb (NMLS#57916)Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

OPEN TODAY 

Free Rate Quotes and Pre-Approvals Same Day!

Current  Kentucky mortgage rates today   

 

 

Free pre-approvals within 2 hours and get your loan closed within 15 days. Give us a try or let us compare what you have now. It’s free- Call locally at 502-905-3708; all times. Free credit reports and approvals. Stop by and see my at 107 South Husrtbourne PkwyLouisville Ky 40222- or email me at kentuckyloan@gmail.com NMLS# 57916

FHA, VA, KHC, Rural Housing, USDA, Fannie Mae Mortgage Loans

Check out our listing ,   Business First Of Louisville

This website is not an Government Agency, and does not officially represent the HUD, VA, USDA or FHA

 Key Financial Mortgage of KY is a licensed mortgage broker in the state of Kentucky  (NMLS#1800).  Key Financial Mortgage of KY  is not a part of, nor are we affiliated with, the VA,  FHA/HUD, USDA. These entities are a government agencies,  not a lender. These Government agencies  simply insure the mortgages; they do not loan the money. Joel Lobb (NMLS#57916) is a licensed loan officer in the state of Kentucky.
Posted in 2011 Kentucky State Mortgage RatesAnnual Percentage Rate (A.P.R.)Current Mortgage Rates in KY,Mortgage Rates Kentuckyratesrhs loans kentucky | Tagged ,, |

>Kentucky First Time Home Buyer Programs 2011


>

http://www.mylouisvillekentuckymortgage.com/

Kentucky

Kentucky First Time Home Buyer Programs

Getting a property in Kentucky may be one of the smartest decisions you will ever make. Kentucky first time home buyer programs give simple programs for those who are buying a house for the first time.

They help first time home buyers offering programs to assist first time home buyers purchase houses. Using their help you can qualify for low interest rates and reduced tax rates through the first time home buying program. There are US government, state offerings and low down costs loans available to qualified first time buyers and many more options.

Most Kentucky first time home buyer programs include the Federal Housing Administration (FHA) and the Veteran’s Administration (VA) loans.

View the list below of Kentucky first time home buyer programs:

Covington Homebuyer Assistance Program


Fayette County Local Development Corporation First Time Homeowners Assistance Program


Jefferson County Home Ownership Assistance Program


Kentucky FHA Home Loan


Kentucky First Time Home Buyer Loans


Kentucky Rural Home Loan


Kentucky VA Home Loan


Louisville New Construction Home Ownership Program


Multi Counties REACH Inc First Key DownPayment Assistance Program


•Multi Counties- The Center For Women and Families, Inc. Common Wealth Individual Development Account Program”

I offer most of the first time home buyers programs throughout Kentucky. Call me to discuss these programs at 502-905-3708 or email us at kentuckyloan@gmail.com

Click on link to for your free prequalification–5 minutes pre approvals