- How to Apply for a Kentucky VA Loan
- KENTUCKY AND LOUISVILLE VA APPROVED CONDOS FOR 2017 LIST
- Kentucky VA Home Loans, Zero Down
- Things needed for a Kentucky VA Mortgage Loan Approval
- Customer Reviews/Testimonials
- Kentucky VA Home Loan Mortgage New Construction
- Refinancing Louisville Ky VA Loans
- Privacy And Disclosures
- Mortgage Application Process
- Certificate of Eligibility
- Kentucky VA Loan Requirements
- VA home loan
Wednesday, March 22, 2017
Kentucky First Time Home Buyer Mortgage Loans: Are Mortgage Points Tax Deductible?: Posted: 21 Mar 2017 02:36 PM PDT Are Mortgage Points Tax Deductible? By: Dona DeZube Published: August 15, 2016 When you...
Tuesday, March 7, 2017
Kentucky First Time Home Buyer Mortgage Loans: Bankruptcy Guidelines for Kentucky First Time Home...
Kentucky First Time Home Buyer Mortgage Loans: Bankruptcy Guidelines for Kentucky First Time Home...: You can obtain a copy of your bankruptcy paperwork from the website below: Bankruptcy Courts http://www.pacer.psc.uscourts. go...
Friday, March 3, 2017
Senior Loan Officer
Senior Loan Officer
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). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
Wednesday, March 1, 2017
VA Student Loans
Did you know that VA has a new policy for calculating student loan payments?
Considering the Payment:
- If the student loan repayments are to begin of closing, the debt will be considered.
- If the student loan payment is being deferred for a period longer than 12 months after closing, the debt does not need to be considered.
Calculating the Payment:
- Calculate each loan at a rate of 5% of the outstanding balance then divide that by 12 months.
Example: $25,000 x 5% = $1,250 divided by 12 months is $104.17 per month.
- If the student loan payment reported on the Borrower’s credit report is greater than the calculated payment, then the credit report payment will be used.
- If the payment reported on the credit report is less than the calculated amount, the lender must require a statement (dated of closing) from the student loan servicer that reflects the actual terms and payment information for each student loan.
- If the student loan payment is in an Income Based Repayment Plan and the current payment is documented to continue for at least 12 months after closing, the lender may use the IBR amount. If the payment is not expected to continue for at least 12 months after closing, a monthly statement is required. If a statement is not available, the calculation of 5% of the balance, divided by 12 will be used.
Documentation for payments and 12 months continuance will be required
For more Information see VA Circular 26.17.02 dated 1/23/17