Kentucky FHA Mortgage Guidelines.
via Kentucky FHA Mortgage Guidelines.
Current Guidelines for Louisville Kentucky Mortgage programs including FHA, VA, KHC, USDA, and Fannie Mae Home Loans in the State of Kentucky
Senior Loan Officer
Company ID #1364 | MB73346
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
*Rates vary by geographic location, loan amount and credit qualifications. Rates are subject to daily changes without notice and may not be available at the time of closing. This does not constitute an offer to lend. All loans are subject to credit, income and asset verification. All rates are based on 1st Lien, 360 month term. Conventional rates based on $165K loan amount, 740 FICO and 80% LTV. FHA rates based on $165K loan amount, 740 FICO and 96.5% LTV. Non-conforming rates based on $420K loan amount, 740 FICO and 80% LTV. Interest rates assume a debt obligation of no more than 36%. County restrictions may apply. For a $165,000.00 mortgage loan at a rate of 4.000% (4.130% APR), with a loan-to-value (LTV) of 80%, you would make 360 payments of $787.74. The payment amount would differ if you choose a different loan amount. Payment amount does not include taxes, insurance, flood insurance, and/or mortgage insurance.
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.
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.
This website 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
Senior Loan Officer
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
Company ID #1364 | MB73346
No Money Down Home Loan Elizabethtown Ky.
via No Money Down Home Loan Elizabethtown Ky.
100% Financing Zero Down, 100% Rural Housing loan in Kentucky, rhs loans kentucky, Rural Housing/ USD LOANS ZERO DOWN, Uncategorized, USDA No money down mortgage Louisville Kentucky Kentucky housing corp 30 year fixed Tagged Bullitt County, Elizabethtown, Fannie Mae, Federal Housing Administration, l, Loan, Loan-to-value ratio, louisville, Louisville Kentucky, LTV, Oldham County, Rural Development, United States Department of Agriculture, USDA Rural Development
- USDA Loan Eligible Rural Areas in Kentucky Counties including the cities of Bardstown, Ky, Elizabethtown, Shepherdsville, Shelbyville, Frankfort, Burlington, Nicholasville, and Independence Northern Kentucky Have Changed effective October 1, 2013 will (kentuckyusdaloan.com)
- Kentucky VA Loans (kentuckyvaloan.com)
- Elizabethtown KY Real Estate: How To Find Credible Elizabethtown KY Real Estate … (louisvillekentuckyvamortgage.blogspot.com)
- Elizabethtown KY Real Estate: Getting Family As Your Realtor…Is It Really Worth … (louisvillekentuckyvamortgage.blogspot.com)
- Elizabethtown KY Real Estate: Barry Carr – A Realtor With A Heart of Gold For He… (louisvillekentuckyvamortgage.blogspot.com)
- Louisville Kentucky FHA, VA, USDA, and Fannie Mae Mortgage Loan Guidelines for 2013 (trulia.com)
- The Advantages of Home Ownership (kentuckyusdaloan.com)
- New Rural Housing and USDA Property Eligibility guidelines for Kentucky Cities, Including Oldham County Kentucky (trulia.com)
- Elizabethtown KY Real Estate: Shawn Paul – Staying True to The Business Of Flipp… (louisvillekentuckyvamortgage.blogspot.com)
- Mortgage Rule Changes: A year later (louisvillekymortgage.net)
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
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.
IMPACT OF PROGRAM SHUT-DOWNS
Rural Development’s mission is to serve as a catalyst for economic and community
development activities in rural areas through loans and grants to individuals, businesses,
and communities. The shut-down of RD loan and grant making activities for a prolonged
period of more than two weeks would have an immense adverse impact on the rural
economy. Should RD not be allowed to continue loan and grant making operations for an
extended period, the impact would be substantially more serious.
• No additional loans/grants would be available during the period except for emergency
purposes and to protect the Government’s interest. System generated disbursements
for previously obligated Rental Assistance (RA) funds will continue.
• No new RD rural housing loans or guarantees would be issued, which would result in
a setback in construction start-up, as well as a potentially costly inconvenience to
buyers and sellers depending on a Single Family Housing loan or guaranteed loan 09 18 2013 RD.doc
closing. A more permanent interruption in the program would cause a substantial
reduction in housing available in rural areas relative to population.
• New and expanding businesses would be unable to access loan guarantees to create
new jobs and save existing jobs and with them, the potential taxpayers who would
hold those jobs.
• No loans or assistance for essential community facilities would be made, delaying the
financing of health care, emergency response, and other essential services to rural
communities. Projects already financed that are under construction would be delayed
in having any bridge financing replaced with permanent financing from USDA. A
long-term shut-down would place RD seriously behind in our mission of improving
quality of life and economic opportunity in rural areas with limited income. The
current community facility loan program is one of the very few sources of financing
for essential community facilities in rural areas.
• Travel and training for RD operations would be suspended during the period of shutdown.
• After shut-down operations, RD state and area office employees located in
communities throughout the United States would be furloughed.
• No loans or advances would be made or issued for modernizing rural America’s
electric and telecommunications infrastructure. Borrowers would not be able to
improve service, meet Federal Communication Commission deadlines, or pay off
short-term bridge loans. No advances would be issued to pay invoices on
construction contracts, which could result in defaults on contracts and increase
construction costs. Ultimately, this could lead to RD loan security problems
- Changes for USDA rural development housing loans – kentucky rhs loan (kentuckyusdaloan.com)
- 2010 Census Data Implementation – Eligible Rural Area Change for Kentucky USDA and Rural Housing Mortgage Loans RHS KY (kentuckyusdaloan.com)
- Government shutdown affects on USDA, FHA, VA, Rural Housing, KHC and Fannie Mae Mortgage loans in Kentucky (mylouisvillekentuckymortgage.com)
- How the Goverment Shutdown Affects Mortgages (azrealtorchick.wordpress.com)
- Kentucky Rural Development and Rural Housing USDA Loan Program (kentuckyusdaloan.com)
- Kentucky USDA and Rural Housing Eligible Rural Area Change October 1, 2013 (trulia.com)
- Kentucky USDA and Rural Housing Eligible Rural Area Change October 1, 2013 for Etown, KY and Hardin County KY (trulia.com)
- New Census counts could make these areas ineligible for USDA lending starting in October. (trulia.com)
- Kentucky USDA and Rural Housing Eligible Rural Area Change October 1, 2013 to include Shepherdsville, KY and Bullitt County (trulia.com)
- October 1, 2013, which will modify the eligible rural areas for the Kentucky USDA and Rural Development RHS housing programs. (trulia.com)
First Time Homebuyer’s Guide: Loan Pre-Approval.
via First Time Homebuyer’s Guide: Loan Pre-Approval.
Joel Lobb (NMLS#57916)
Senior Loan Officer
firstname.lastname@example.orgKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*