Kentucky VA Home Loans offered by a Kentucky Veteran. I have successfully originated over 100 VA Kentucky Mortgages for fellow Kentucky Veterans and active duty personnel.$0 Down Home loans in KY. Free Credit Report and free pre-approvals. I can be reached by text or call at 502-905-3708, or kentuckyloan@gmail.com Not affiliated with VA Government Agency. NMLS #57916 Company NMLS #1738461 Former Army Tanker 19k
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky FHA Mortgage Information
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Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Louisville Kentucky First Time Home Buyer Programs
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Kentucky VA Home Pest Termites Inspection Fees and Repairs cost for Veterans
Veterans Benefits Administration Circular 26-22-11
Department of Veterans Affairs June 15, 2022 Washington, D.C. 20420
Pest Inspection Fees and Repair Costs
1. Purpose. This Circular addresses the Department of Veterans Affairs policies regarding wood destroying pest inspection fees and repair costs.
2. Background. Historically, VA has authorized, as a local variance, that Veterans may be charged for a wood destroying pest inspection report in a limited number of states and territories.1 Localities susceptible to termites and other wood destroying pests, however, are on the rise. Accordingly, VA requires, as a Minimum Property Requirement, a wood destroying pest inspection report for certain properties located in an area on the Termite Infestation Probability Map2 where the probability of termite infestation is “very heavy” or “moderate to heavy.”3 If applicable, the VA Notice of Value (NOV) will be conditioned for this requirement and MPR repairs identified on a wood destroying pest inspection report must be completed prior to guaranty.4
3. Action. Effective immediately, VA is authorizing in advance, as a local variance, that Veterans may be charged wood destroying pest inspection fees, where required by the NOV. Veterans may also pay for any repairs required to ensure compliance with MPRs. Veterans are encouraged to negotiate the cost of the wood destroying pest inspection and repairs with the seller.
a. Documentation for Audit Purposes. An itemized invoice identifying the Veteran and the property is required to verify the cost on the Closing Disclosure Statement (CD). Lenders should include the invoice(s) to support the cost of the inspection and any repairs in the loan file if the loan is selected for Full File Loan Review (FFLR).
4. Paperwork Reduction Act. The information collection requirements contained in this document have been approved by the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 (44 U.S.C. § 3501-3520) and assigned OMB control number 2900-0515. In accordance with the Paperwork Reduction Act, VA may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection displays a currently valid OMB control number
1 38 C.F.R. § 36.4313(d)(1)(ix).
2 https://basc.pnnl.gov/images/termite-infestation-probability-map-adapted-2021-international-residential-code-irc-figure.
3 VA Lenders Handbook, Chapter 13, Topic 8.c.
4 38 U.S.C. § 3704(a), 38 C.F.R. § 36.4351.
Joel Lobb
Mortgage Loan Officer
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
fax: 502-327-9119
email: kentuckyloan@gmail.com
email: kentuckyloan@gmail.com
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky FHA Mortgage Information
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Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Zero Down Kentucky Mortgages
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How to get a Kentucky VA Home Loan?
Who is eligible for a Kentucky Home VA loan?
Veterans aren’t the only ones who can qualify for Kentucky VA loans. You may also be eligible if you are a current or former National Guard or Reserve member, an active duty servicemember or an eligible surviving spouse.
The specific benefits available will be determined by the VA based on the amount of time you (or your spouse) served or service commitment, your duty status and your character of service.
Check out the VA webpage for specific eligibility requirements.
Kentucky VA loan advantages for you, the buyer
VA borrowers can enjoy valuable advantages, including:
The loan limits are the amount a qualified Veteran with full entitlement may be able to borrow without making a down payment. These loan limits vary by county, since the value of a house depends in part on its location. The loan cannot exceed the limit for government-insured loans in your area. You can find a list of VA loan limits here.
There is no monthly Private Mortgage Insurance (“PMI”) premium requirement. You may have to pay a one-time upfront funding fee that is based on the nature of your military service, the loan type, the size of the down payment, and whether you have used the VA loan benefit in the past.
VA rules limit the amount you can be charged for closing costs.
Closing costs may be paid by the seller.
The lender can’t charge you a penalty fee if you pay the loan off early.
VA may be able to provide you some assistance if you run into difficulty making payments.
The VA guarantees home loans that help active military members, veterans and surviving spouses. Kentucky VA loans don’t require a down payment or minimum credit score.
No matter where you are in life, that is a super line-up of advantages. If you’re eligible for a Kentucky VA loan, it makes sense to explore VA options.
How do I use the VA loan benefit to buy a home in KY?
Once you determine that you fit the eligibility requirements, the next step is obtaining a Certificate of Eligibility from the Department of Veterans Affairs. Your lender will need this document to verify you are eligible for VA loan benefits.
VA loan eligibility for Kentucky Mortgage?
If you are considering what your VA loan benefits are, the first step is to dig into the program’s eligibility requirements. The home must be for your own personal occupancy. Those eligible for VA home loans can use the loan to:
Buy a home, a condominium unit in a VA approved project
Build a home
Simultaneously purchase and improve a home
Improve a home by installing energy-related features or making energy efficient improvements
Buy a manufactured home and/or lot
To refinance an existing VA-guaranteed or direct loan for the purpose of a lower interest rate
To refinance an existing mortgage loan or other indebtedness secured by a lien of record on a residence owned and occupied by the veteran as a home
Spouses of servicemembers may also apply for VA loan benefits, subject to certain restrictions.
Once you are on track for eligibility, you will be on your way to getting into your new home–a well-deserved path for you and your family.
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: How to Get Approved for a Kentucky Mortgage While ...
Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: How to Get Approved for a Kentucky Mortgage While ...: Can you get a mortgage loan while in a Chapter 13 Bankruptcy? Here is a brief summary: You must have 12 payments paid into the Chapter 13 ...
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