Classes for Louisville, Kentucky Homebuyers
Consumer Credit Counseling Service (502) 458-8840 2100 Gardiner Lane, Suite 103A 1-800-278-9219 (toll-free) Louisville, KY 40205 https://kyfirsttimehomebuyer.wordpress.com/2012/01/11/louisville-ky-fha-mortgage-loans/ Since 1980, Consumer Credit Counseling Service has been a HUD approved counseling agency. Many lenders look for this stamp of approval in deciding where to send their customers for counseling. Consumer Credit Counseling Service not only provides the one-on-one counseling often required by lenders, but it offers a one-day Homebuyer Preparedness Program. This free program covers such topics as working with a real estate agent, finding a lender, figuring out how much you can afford to spend and going through the application process. The agency is certified by HUD to provide default and reverse equity mortgage counseling, too. Counseling on debt management and budgets also is available. The initial counseling session is free. Consumer Credit has six sites throughout the area. The Housing Partnership, Inc. (502) 585-5451 333 Guthrie Green, Suite 404 www.housingpartnershipinc.org Louisville, KY 40202 The Housing Partnership, Inc. Home Ownership Program is the largest HUD-certified program in Kentucky. The program provides counseling, courses and other services to those who want to own a home. It also provides counseling to home owners who are in danger of default. Participants attend an orientation session before being assigned a counselor, who provides information on budgeting and credit preparation. Participants then must complete several short courses over six weeks. These courses cover basics, such as sales contracts, home inspections, mortgage loans, insurance and maintenance. A one-time fee based on income may be assessed. Scholarships are available. The fee entitles participants to a lifetime of service. Home buyers often come back for help on budget and credit issues. The Housing Partnership has five satellite locations scattered throughout the area, including two nearby in Indiana. Kentucky Housing Corp. (502) 564-7630, ext. 324 1231 Louisville Road 1-800-633-8896 (Kentucky only) Frankfort, KY 40601 www.kyhousing.org The “Yes You Can…Own a Home” series of classes is presented periodically throughout the state by local lenders and nonprofit organizations. Local coordinators team up with housing-related professionals who volunteer their time to serve as instructors. Topics include finding the right house, completing a loan application, the mortgage loan process, budget and credit issues and basic home maintenance. The classes are free and open to all. In addition, the agency offers a counseling program for potential home buyers who have been declined financing by the Kentucky Housing Corp. or by a KHC-approved lender or who have completed the “Yes You Can” course and are within KHC’s income limits. As the state housing-finance agency, the Kentucky Housing Corp. also offers a down-payment assistance program, low-interest-rate mortgages, financing for the production of rental housing and a variety of rental assistance programs. Louisville Urban League (502) 561-6830, ext. 122 1535 W. Broadway www.lul.org Louisville, KY 40203 The Louisville Urban League Housing Services & Neighborhood Revitalization Department offers the Home Ownership Training (HOT) Program. Through individual and group counseling, HOT prepares and prequalifies people for mortgages. In one-on-one sessions with a certified HUD counselor, clients learn about budgeting, credit and home ownership options. When financially ready (clean credit, steady budget and savings), clients take four classes. These cover sales and purchase contracts, inspections and maintenance, loan applications and closing, and insurance. Classes are held the last two Tuesday and Thursday nights of the month. Those who already save, budget and have established good credit are eligible for a “fast track” version of this training—a one-day group session called “Home Track.” The Urban League charges a lifetime membership fee, which is set on a sliding scale, based on income. The fee ranges from $100 to $250. Kentucky residency is not required. Additional counseling is available on such issues as reverse mortgages, delinquencies, refinancing and rental options. f you’re thinking about buying a home, you might want to think about talking to one of these agencies first. They can provide you with valuable advice on every step of the process, from budgeting your income to negotiating a contract to closing on a loan. The assistance doesn’t stop once you’ve moved in; many agencies will also give you guidance on how to maintain your home and how to prevent foreclosure. Most of these agencies provide their services at no charge. Usually, anyone can take advantage of the programs, although they are aimed primarily at first-time buyers. In some cases, counseling is required by lenders, especially if any government assistance is being provided to help lower a loan rate or help pay for closing costs. All of the agencies will provide interpreters for those who don’t speak English. I
Joel Lobb (NMLS#57916)
Senior Loan Officer
Senior Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.
- Kentucky USDA Guaranteed Rural Housing Mortgage Guidelines (kentuckyusdaloan.com)
- Louisville Ky VA Loans (kentuckyvaloan.wordpress.com)
- Louisville Ky FHA Mortgage Loans (louisvillemortgageguide.com)