A Kentucky Mortgage Loan Officer that has closed over 600 home loans specializing in Kentucky First Time Homebuyer Loans to include the following FHA, VA, USDA, Rural Housing, Down Payment Assistance Loan from Kentucky Housing Corp or KHC and the Fannie Mae Home Path HUD $100 Down Mortgage Program in Kentucky. This website is not an government agency, and does not officially represent the HUD, VA, USDA. FHA, Fannie Mae or any other government agency. NMLS# 57916 Equal Housing Lender Call or Text 502-905-3708 with your mortgage questions or email firstname.lastname@example.org I try to respond to all requests within minutes during regular business hours.
Credit Standards Insuring agency credit standards for the loan type the borrower receives. Minimum credit score required for FHA, VA, and RHS: 620. Minimum score for conventional: 660. FHA, VA, and Conventional loans: AUS approval required; follow findings with maximum debt ratios of 40/45. RHS loans: maximum debt ratios of 29/41 for manual underwriting; with GUS approval 40/45 and follow findings. Collections: for FHA, VA and Conventional loans, AUSapproved findings to be followed. For RHS loans, follow agency guidelines and/or GUS findings. Bankruptcies must be discharged for 2-7 years, according to
Kentucky Housing KHC Credit Standards and Guidelines
FHA KHC Mortgage Guidelines
Minimum 620 credit score required. Financing to 96.50% of lesser of sales price or appraised value. All KHC DAPs and other KHC-approved secondary financing may be used. Maximum 6% seller-paid items. Maximum ratios of 40/45 with AUS approval.
agency guidelines and AUS findings. Foreclosures must be discharged for a minimum 2-7 years according to agency guidelines and AUS findings. For most loan types, non-taxable income can be grossed-up by 15%. Must follow insuring agency guidelines.
Minimum 620 credit score required. Financing to 100% of the appraised value, plus guarantee fee of 3.5%. All KHC DAP programs and other KHC-approved secondary financing may be used. No maximum on seller-paid items. Ratio requirements and guarantee fee per agency guidelines. KHC will accept Government Underwriting System (GUS) findings, including reduced documentation and, with approval, expanded ratios up to 40/45.
Minimum 620 credit score required. Ratios up to 40/45% with AUS Approval. Financing to 100% of the lesser of the appraised value or sale price. All KHC DAP programs and other KHC-approved secondary financing may be used. Maximum 4% seller-paid items. Follow agency guidelines for ratio requirements and funding fee. Mortgage Revenue
KHC’s First Mortgage Government Loan Products
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