Kentucky First Time Home Buyer Programs for 2017 FHA, VA, KHC, USDA, RHS, Fannie Mae Loans in Kentucky] Please moderate: “Credit Scores Needed To Qualify For A Kentucky Mortgage Loan Approval?
Your debt to income ratio cannot exceed 45 percent. The higher your credit score, the lower the mortgage rate. A score of 740 or above will give the best rate; a 690 will work, but you will pay between one-eighth to one-quarter of a percentage point more. Rates have certainly moved up this year after the announcement from the Federal Reserve saying it planned to gradually stop buying bonds sometime in the near future. The rate changes daily, but now it’s hovering around 4.375 percent for 30-year fixed mortgages.
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