Sunday, April 28, 2013

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Mortgage Rates

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Mortgage Rates:                                                                                                                             Open To...

Friday, April 26, 2013

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: How to Dispute Credit Report Info

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: How to Dispute Credit Report Info: How to Dispute Credit Report Info Fill out my form!

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Wednesday, April 24, 2013

Elizabethtown KY Real Estate: How To Find Credible Elizabethtown KY Real Estate ...

Elizabethtown KY Real Estate: How To Find Credible Elizabethtown KY Real Estate ...: How To Find Credible  Elizabethtown KY Real Estate Companies When House Hunting With summer just around the corner, many families who wan...

Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Kentucky FHA Mortgage Guidelines

Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Kentucky FHA Mortgage Guidelines: FHA Mortgage Guidelines Here is my Top 5 List for the  FHA Mortgage Loan: 1.A Low Down Payment  –  FHA Mortgage Loans only requ...

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Tuesday, April 16, 2013

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: What Is Private Mortgage Insurance (PMI) - How to ...

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: What Is Private Mortgage Insurance (PMI) - How to ...: What Is Private Mortgage Insurance (PMI) - How to Avoid Paying It If you look at your monthly mortgage statement and see a line for “PMI,”...

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Getting your Louisville Kentucky VA Loan Approval....

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Getting your Louisville Kentucky VA Loan Approval....: Getting your Louisville Kentucky VA Loan Approval.  Getting Your VA Loan Step 1: Determine If You Are Eligible We will cover the Proo...

Credit Score Requirements for a Kentucky VA Home Loan


Credit Score Requirements for a Kentucky VA Home Loan




·         If more than one score is supplied by the same repository, the lesser of the scores will be used.
·         Determining Qualifying Credit Score:
o   Middle of 3
o   Lower of 2
o   If only one score is provided, that score is the qualifying credit score for that borrower.
·         640 minimum credit score is required for purchase and full doc refinances.
·         640 minimum credit score is required for any loan with a 15 year term.
·         660 minimum required for IRRRL’s.
I

LIABILITIES & CREDIT HISTORY
·         A 24-month history of residence is required on all files.
·         Additionally, a 12-month verification of rent or mortgage with a payment rating is also required on all manually underwritten loans, or if required by DU.  If private party landlord, verification of rental payment requires 12 months cancelled checks.
·         No more than 0x30 in the previous 12 months is allowed on manually underwritten loans.
·         Borrower must provide satisfactory letter of explanation for the disposition of any primary residence converted to a second home or investment property (non-owner occupied).


·         Court-ordered payments should be documented by a copy of the court order.
·         Borrower(s) must have an acceptable existing repayment plan for any arrearages and proof of 12 months on time payments, and/or be required to pay account in full prior to, or at closing.
·         See Collections/Chargeoffs for additional requirements if there are arrearages.







Not permitted.  Settlement offers will not be considered as proof of balance
Are acceptable on accounts that will be paid in full at closing as long as the offer is in writing from the creditor reporting on the credit report.
Consumer Credit Accounts:  Recent derogatory credit within the previous 12 months is generally not permitted on manually underwritten loans.  When the borrower has any currently past due accounts, they must be brought current prior to, or at, closing.  A letter of explanation is required for all derogatory credit.
Any unpaid Collections or Chargeoffs will require a letter of explanation from the borrower.
AUS Approved:
·         Medical Collections/Chargeoffs are not required to be paid.
·         Other Collections/Chargeoffs, if >24 months, not required to be paid, otherwise accounts must be paid in full prior to, or at, closing.
Manual Underwrite:
·         Medical Collections/Chargeoffs are not required to be paid.
·         Other Collections/Chargeoffs must be paid in full prior to, or at closing.
All delinquent Federal debt must be brought current at closing.  All defaulted Federal debt must be paid in full at closing.
Must be paid at, or prior to, closing.
2 years seasoning required from Discharge or Dismissal date.
Borrower must have completed at least 12 months of on-time payments per the plan approved by the Bankruptcy court.  In addition, borrower must receive Bankruptcy court approval to enter into the new mortgage loan transaction.
Manually underwritten loans will treat CCC as a Chapter 13 Bankruptcy.
All bankruptcies must meet seasoning requirements and will be reviewed on a case-by-case basis.  Borrower’s with multiple bankruptcies are generally not acceptable on manually underwritten loans.
·         2 years seasoning is required.
·         Borrower must have a clear CAIVRS.
·         If the foreclosure involved a VA guaranteed loan, the borrower may not have full entitlement available for the new loan.
·         2 years seasoning is required.
·         Borrower must have a clear CAIVRS.
3 years seasoning is required.


Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Mortgage Rates

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Mortgage Rates:                                                                                                                        

Louisville Kentucky Mortgage
Free Credit and Pre Approvals same day ; KHC, FHA, VA, USDA, I have helped over 589 families buy their Ky Home or Refinance. NMLS#57916


Current Interest Rates
Fixed Rate ProgramsAdjustable Rate Programs ]

Lock
days
Qualifying
Ratios
ProgramRatePointsAPR
Conforming 30 year FRM3.5001.0003.6713035 / 45
Kentucky Mortgage Loans Only- Rates Change
Conforming 20 year FRM3.3751.0003.6713040 / 41
Kentucky Mortgage Loans Only- Rates Change
Conforming 15 year FRM2.7501.0003.1743035 / 41
Kentucky Mortgage Loans Only- Rates Change
FHA 30 year FRM3.0001.5004.4943035 / 50
Kentucky Mortgage Loans Only- Rates Change
FHA 15 year FRM3.0000.0003.6893035 / 50
Kentucky Mortgage Loans Only- Rates Change
USDA 30 year FRM3.2500.0004.1853031 / 45
Kentucky Mortgage Loans Only- Rates Change
VA 30 Year FRM3.0001.0003.8743041 / 41
Kentucky Mortgage Loans Only- Rates Change

Adjustable Rate Programs

Lock
days
Qualifying
Ratios
ProgramRatePointsAPRIndexMarginCaps
Conforming 30/5/1 ARM2.8752.0005.214LIBOR1.9302/1/53028 / 41
Kentucky Mortgage Loans Only- Rates Change
Jumbo 30/5/1 ARM4.0002.0005.789T-Bill1.9605/1/103028 / 41
Kentucky Mortgage Loans Only- Rates Change
Jumbo 30/7/1 ARM4.3750.0005.124CMT1.9305/1/103028 / 36
Kentucky Mortgage Loans Only- Rates Change
Jumbo 30/10/1 ARM4.2502.0005.411CMT1.9305/1/103028 / 36
Kentucky Mortgage Loans Only- Rates Change

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 loan rates 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 for Kentucky Mortgage Rates, 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 Kentucky Mortgage  loan. This is not a Kentucky 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 Kentucky  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. All Kentucky FHA loans require a minimum credit score of 640
  • Jumbo

    • Kentucky Jumbo Mortgage  rates are higher for borrowers who do not meet the criteria for Conventional Mortgage Loans. All Jumbo loans require a 680 or higher score and a maximum loan to value of 80% 
  •   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. Kentucky VA loans require a minimum credit score of 620
  • 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. Kentucky USDA loans require a 640 minimum credit score. 

Free Credit Report and Pre qualifications available anytime. 


                                                                



.  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. 



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

Key Financial Mortgage (NMLS #1800) 107 South Hurstbourne Parkway*
Louisville, KY 40222*




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Saturday, April 13, 2013

Louisville Kentucky 2013 Mortgage Guidelines - Louisville Kentucky Mortgage

Louisville Kentucky 2013 Mortgage Guidelines - Louisville Kentucky Mortgage

Fill out my form!

Louisville Kentucky VA Home Mortgage Loans: Louisville Ky Mortgage Lender FHA/VA KHC USDA Kent...

Louisville Kentucky VA Home Mortgage Loans: Louisville Ky Mortgage Lender FHA/VA KHC USDA Kent...: Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Mortgage Rates :                                                 ...

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Friday, April 12, 2013

Wednesday, April 10, 2013

Kentucky VA Loans Video





Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Kentucky USDA Rural Housing Loans : Credit Scores

Kentucky USDA Rural Housing Loans : Credit Scores: Increasing FICO® scores  What can I do to increase my FICO score?  Increasing your FICO® score may take time and often there is no ...

Tuesday, April 9, 2013

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Self Employed Mortgage Loans for Kentucky

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Self Employed Mortgage Loans for Kentucky

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: How to determine how much house can you afford

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: How to determine how much house can you afford: Fill out my form!

Can the Seller Help Pay for My Clossing Costs with a VA Loan?

Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: How to Read Tax Returns & Close More Loans - 2012 ...

Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: How to Read Tax Returns & Close More Loans - 2012 ...

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Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Common Mistakes to Look for When Reviewing Your Cl...

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Common Mistakes to Look for When Reviewing Your Cl...

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Nationwide cuts mortgage rates to historic low

Nationwide cuts mortgage rates to historic low

Military grant for first-time home buyers

Military grant for first-time home buyers


Wednesday, April 3, 2013

Home Loan Home

Home Loan Home

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Home Loan Mortgage Types

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Kentucky Home Loan Mortgage Types: Kentucky Home Loan Mortgage Types Home Loan Types Conventional FHA      USDA        VA Max Loan Amount $417,000.00 $271,050.00 based o...

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Elizabethtown KY Real Estate: The Great Zombie 5K Race Is On!

Elizabethtown KY Real Estate: The Great Zombie 5K Race Is On!: The Zombie Run in Louisville Is Still Open For Registration  Image from freepik.com Run through a stretch of 3.1miles as you try to...

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone

Tuesday, April 2, 2013

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Is Now the Time to Refinance Your Home? (3/22/13)

Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Is Now the Time to Refinance Your Home? (3/22/13)

Louisville Kentucky VA Home Mortgage Loans: What are the Different VA Loan Programs?

Louisville Kentucky VA Home Mortgage Loans: What are the Different VA Loan Programs?

What are the Different VA Loan Programs?

Just Approved: Veteran closes home in East Bay with no money down

Just Approved: Veteran closes home in East Bay with no money down

USDA Guaranteed Home Loan

Kentucky USDA Rural Housing Loans : Shopping for Your Loan - HUD

Kentucky USDA Rural Housing Loans : Shopping for Your Loan - HUD

Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone