Kentucky FHA Loan Requirements for 2020


Kentucky FHA Loan Requirements

 

 

Kentucky FHA Loan Requirements for 2020 to include Credit Fico Scores, Down Payment, Income and Job history

FHA

An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.

  • Minimum Credit Score is 500 with at least 10% down
  • Minimum Credit Score is 580 if you put less than 10% down
  • The maximum loan amount varies by Geographical Area, for 2019 it is as follows:
  • The FHA national low-cost area mortgage limits, which are set at 65 percent of the national conforming limit of $510,400 for a one-unit property, are, by property unit number, as follows:
    • One-unit: $331,760
    • Two-unit: $42,800
    • Three-unit: $513,400
    • Four-unit: $638,100
  • Upfront and Monthly Mortgage Insurance is required regardless of the Loan to Value
  • FHA Loans are only available for financing primary residences
  • Maximum Debt to Income Ratio of 50% (unless mitigating factors justify allowing a higher DTI)

 

Kentucky FHA Loan Requirements

The requirements for Kentucky FHA loans are set by HUD.

  • Borrowers must have a steady employment history of the last two years within the same industry or line of work. Recent college graduates can use their transcripts to supplant the 2 year work history rule as long as it makes sense.
  • Self-Employed will need a 2 year history of tax returns filed with IRS. They will take a 2 year average.
  • FHA requires a 3.5% down payment. Can be gifted from family member or from retirement savings plan, or money saved-up. Any type of cash deposits are not allowed for down payments. No exceptions to this rule!! This is one of the biggest issues I see in FHA underwriting nowadays.
  •  FHA loans are  for primary residence occupancy. Not rental houses.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 43 percent. If the Automated Underwriting System gives you an Approved Eligible you can go higher on the debt ratios
  • Borrowers must have a minimum credit score of 580 for maximum financing with a 3.5% down payment
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent. Most lenders will not go below 620 score, and very few lenders will go to 580 score. It’s best to work on getting your scores up before you apply or work with a loan officer to improve them.
  • 2 years removed from Chapter 7 is required with good pay history after bankruptcy
  • 1 year removed from Chapter 13 is okay with an excellent pay history with the Chapter 13 plan and permission from trustee. You will need to qualify with the Chapter 13 payment along with new house payment. Again, scores will play into your loan pre-approval.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit. If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three-year foreclosure guideline.
  • Max FHA loan in Kentucky is between $331,760.00  depending on the county in Kentucky
    I can answer your questions and usually get you pre-approved the same day.



 

FHA 

Low Down Payment which can be 100% gift from family member or Grant Program
Seller can pay closing costs-Maximum 6% of purchase price
There is maximum mortgage amount for each county. Check FHA loan limit for your county.
500 Minimum Credit Score
More flexible underwriting guidelines and extenuating credit and income circumstances may be considered by the lender.
Non-occupant co-signers are allowed on this program.
FHA Approved Condos-Single family home-2-4 unit properties, and PUDs are eligible.
Fast automated underwriting approval available. Also, the file can be manually underwritten by a live person to get loan approval if you do not receive approval through automated underwriting system.

FHA Foreclosure Program 

Must be HUD Owned property or FHA Foreclosure in HUD Participating Communities
$100 Down Payment than standard FHA program
620 minimum credit score
Single family, 1-4 unit properties, HUD approved condominiums, and PUDS eligible

 

 

 

 

Down Payment Plus Assistance Program 

Up to $5000 Grant to buy a home in the Northern Kentucky Area of The Homebuyer Assistance Program for 2019 is funded through the HOME Program and administered by the Northern Kentucky HOME Consortium through the City of Covington’s Neighborhood Services Department. The purpose of the program is to increase the number of homeowners in the Northern Kentucky HOME Consortium cities of Ludlow, Newport, Bellevue, and Dayton

 

 

  • Borrower’s gross annual household income must be at or below 80% of the Area Median Income ($43,900 for a single person, $62,650 for a 4 person household). Borrowers must attend a HUD approved homebuyer education course.
  • All properties must be one to two units, owner-occupied or vacant, and meet minimum local housing standards.
  • Up to $5,000 to cover the lender required down payment and customary settlement charges to the borrower.
  • Interest Rate/Loan Term: 0%, 5 years
  • Monthly Payment Amount: No monthly payments. The loan will be forgiven if the owner occupies the home as their principal residence for 5 years from the date of purchase.

b. Credit: Credit history and documentation which indicates substantial evidence of borrower’s ability to pay will be reviewed. Reports from a Credit Bureau will be obtained for all borrowers.
c. Education: All applicants must participate in a HUD/City-approved homebuyer education course and must present a certificate of completion prior to loan closing.

d. Loan Underwriting: Borrower’s debt ratios cannot exceed 31% and 43% to ensure that the borrower’s income is sufficient to cover their mortgage and other monthly obligations. The interest rate on the first mortgage cannot be higher than 2.5% above the average 30 year conventional loan rate as published by Freddie Mac in the Weekly Primary Mortgage Market Survey. Borrowers may not use first mortgage financing with balloon payments, adjustable rates, or other terms that are determined to be subprime. Adjustable rate mortgages may be considered if the City determines them to be the most affordable financing option for the borrower.

e. Non occupant co-borrowers will be allowed, however debt ratio limitations will apply to primary borrower’s household income only.

f. Liquid Asset Limitation Policy: The applicant(s) must not have liquid assets in excess of the following amounts at time of loan application:

 $10,000: Liquid assets in excess of this amount will be required to be used in the purchase transaction prior to the use of any Program funds.

 Stocks and other readily salable securities will be considered liquid assets unless they are restricted by IRA, 401(k) or other similar requirements. Funds in IRAs, 401(k) plans or other qualified retirement accounts will not be considered liquid assets.

 Applicants that are at or near retirement age may have retirement savings, which will not have to be contributed, unless such savings exceed an amount that
Persons in Household

 

2. Kentucky Housing Corporation Down Payment Assistance for 2020.

 

Regular DAP

  • Purchase price up to $314,257 with Secondary Market.
  • Assistance in the form of a loan up to $6,000 in $100 increments.
  • Repayable over a ten-year term at 5.50 percent.
  • Available to all KHC first-mortgage loan recipients.

Affordable DAP

  • Purchase price up to $314,257 with Secondary Market.
  • Assistance up to $6,000.
  • Repayable over a ten-year term at 1.00 percent.
  • Borrowers must meet Affordable DAP income limits.

More about down payment and closing costs

  • No liquid asset review and no limit on borrower reserves.
  • Specific credit underwriting standards may apply to down payment programs.

 

$6000 Kentucky housing grant for 2020 first time home buyers

 

 

Down Payment Assistance of $6,000 for KHC Loans. Apply online

3. Welcome Home $5000 Grant for Kentucky Homebuyers 2020

The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) has established a set-aside of Affordable Housing Program (AHP) funds to help create homeownership through a program called the Welcome Home Program. Welcome Home funds are available to Members as grants to assist homebuyers.

Welcome Home grants are limited to $5,000 per household, households are eligible only if the total household income is at or below 80% of Mortgage Revenue Bond (MRB) income limits, and funds are offered on a “first-come, first-served” basis. Other program requirements are identified below.

What are the Program Requirements?

Below is an abbreviated list of program eligibility requirements:

The total income for all occupants must be at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located. The FHLB has an Income and Affordability Workbook to assist in determining household income eligibility.
Home-buyers must contribute at least $500 of their own funds towards down payment and/or closing costs.
WHP applicants do not have to be first-time home buyers. However, all first-time home buyers are required to complete a home ownership counseling program.
WHP grant funds are intended only for home buyers who qualify for the first mortgage based on their own merit. Co-signors and co-borrowers are not allowed unless they will occupy the home as their primary residence and their incomes are included in determining eligibility.
WHP grant funds may be used in conjunction with other local, state and federal funding sources and with the FHLB Cincinnati’s Community Investment Cash Advance Programs.
The Member who reserves the WHP funds must originate the first loan, but the loan may close in the name of a third party.
The interest rate for the first mortgage may not exceed 7.50 percent.
The interest rate for the second mortgage may not exceed 11.00 percent.
Only second mortgages provided by formal organizations, community development financial institutions, housing finance agencies, non-profit organizations, etc. are acceptable.
All eligible property assisted with WHP funds is subject to a five-year retention mechanism (Retention Agreement), which may require the household to repay all, or a portion, of the subsidy, if the home is sold or refinanced within five years from the closing of the transaction.

Kentucky WELCOME HOME GRANT Available beginning March 4, 2021

*Welcome Home grant offered by FHLB of Cincinnati is available on a “first-come,
first-serve” basis only to the extent the funds are available.
Buyers do not have to be first-time home-buyers.
Home-buyers must contribute $500 toward down payment or closing costs, and cannot get cash back. Closing costs include appraisal, underwriter, title exam, credit reporting, title insurance, recording and flood determination fees.
First time home buyers must complete a home buyer counseling course.
Home buyer’s income cannot exceed specific county income limits.
The home must meet specific condition requirements. Manufactured housing may be allowed. No 203k programs allowed.
Offer is subject to credit approval. Contact a Mortgage Lender for details, limits and guidelines, or if you have any questions.
Limited Time Offer

 

 

Kentucky Income limits for Welcome Home Grant for 2020

Income limits are obtained from the state housing finance agency for each state.

Use the 80% limits for the Welcome Home Program.*******

Use the 100% limits for the Disaster Reconstruction Program.

 

Kentucky 

County 100% limits 80% limits****Welcome Home Funds limit
1-2 Persons 3 + Persons 1-2 Persons 3 + Persons
Adair $71,040 $82,880 $56,832 $66,304
Allen $71,040 $82,880 $56,832 $66,304
Anderson $69,400 $79,810 $55,520 $63,848
Ballard $59,200 $68,080 $47,360 $54,464
Barren $59,200 $68,080 $47,360 $54,464
Bath $71,040 $82,880 $56,832 $66,304
Bell $71,040 $82,880 $56,832 $66,304
Boone $78,300 $90,045 $62,640 $72,036
Bourbon $84,120 $98,140 $67,296 $78,512
Boyd $59,200 $68,080 $47,360 $54,464
Boyle $71,040 $82,880 $56,832 $66,304
Bracken $93,960 $109,620 $75,168 $87,696
Breathitt $71,040 $82,880 $56,832 $66,304
Breckinridge $71,040 $82,880 $56,832 $66,304
Bullitt $71,500 $82,225 $57,200 $65,780
Butler $71,040 $82,880 $56,832 $66,304
Caldwell $59,200 $68,080 $47,360 $54,464
Calloway $59,200 $68,080 $47,360 $54,464
Campbell $78,300 $90,045 $62,640 $72,036
Carlisle $71,040 $82,880 $56,832 $66,304
Carroll $71,040 $82,880 $56,832 $66,304
Carter $71,040 $82,880 $56,832 $66,304
Casey $71,040 $82,880 $56,832 $66,304
Christian $59,200 $68,080 $47,360 $54,464
Clark $84,120 $98,140 $67,296 $78,512
Clay $71,040 $82,880 $56,832 $66,304
Clinton $71,040 $82,880 $56,832 $66,304
Crittenden $71,040 $82,880 $56,832 $66,304
Cumberland $71,040 $82,880 $56,832 $66,304
Daviess $62,300 $71,645 $49,840 $57,316
Edmonson $71,040 $82,880 $56,832 $66,304
Elliott $71,040 $82,880 $56,832 $66,304
Estill $71,040 $82,880 $56,832 $66,304
Fayette $70,100 $80,615 $56,080 $64,492
Fleming $71,040 $82,880 $56,832 $66,304
Floyd $71,040 $82,880 $56,832 $66,304
Franklin $65,200 $74,980 $52,160 $59,984
Fulton $71,040 $82,880 $56,832 $66,304
Gallatin $93,960 $109,620 $75,168 $87,696
Garrard $71,040 $82,880 $56,832 $66,304
Grant $71,040 $82,880 $56,832 $66,304
Graves $59,200 $68,080 $47,360 $54,464
Grayson $71,040 $82,880 $56,832 $66,304
Green $71,040 $82,880 $56,832 $66,304
Greenup $59,200 $68,080 $47,360 $54,464
Hancock $62,300 $70,725 $49,840 $56,580
Hardin $61,500 $72,220 $49,200 $57,776
Harlan $71,040 $82,880 $56,832 $66,304
Harrison $71,040 $82,880 $56,832 $66,304
Hart $71,040 $82,880 $56,832 $66,304
Henderson $65,100 $74,865 $52,080 $59,892
Henry $85,800 $100,100 $68,640 $80,080
Hickman $71,040 $82,880 $56,832 $66,304
Hopkins $71,040 $82,880 $56,832 $66,304
Jackson $71,040 $82,880 $56,832 $66,304
Jefferson $71,500 $82,225 $57,200 $65,780
Jessamine $70,100 $80,615 $56,080 $64,492
Johnson $71,040 $82,880 $56,832 $66,304
Kenton $78,300 $90,045 $62,640 $72,036
Knott $71,040 $82,880 $56,832 $66,304
Knox $71,040 $82,880 $56,832 $66,304
Larue $73,800 $86,100 $59,040 $68,880
Laurel $59,200 $68,080 $47,360 $54,464
Lawrence $71,040 $82,880 $56,832 $66,304
Lee $71,040 $82,880 $56,832 $66,304
Leslie $71,040 $82,880 $56,832 $66,304
Letcher $71,040 $82,880 $56,832 $66,304
Lewis $71,040 $82,880 $56,832 $66,304
Lincoln $71,040 $82,880 $56,832 $66,304
Livingston $59,200 $68,080 $47,360 $54,464
Logan $71,040 $82,880 $56,832 $66,304
Lyon $60,500 $69,575 $48,400 $55,660
Madison $79,080 $92,260 $63,264 $73,808
Magoffin $71,040 $82,880 $56,832 $66,304
Marion $71,040 $82,880 $56,832 $66,304
Marshall $59,600 $68,540 $47,680 $54,832
Martin $71,040 $82,880 $56,832 $66,304
Mason $71,040 $82,880 $56,832 $66,304
McCracken $60,800 $69,920 $48,640 $55,936
McCreary $71,040 $82,880 $56,832 $66,304
McLean $74,760 $87,220 $59,808 $69,776
Meade $60,500 $69,575 $48,400 $55,660
Menifee $71,040 $82,880 $56,832 $66,304
Mercer $59,200 $68,080 $47,360 $54,464
Metcalfe $71,040 $82,880 $56,832 $66,304
Monroe $71,040 $82,880 $56,832 $66,304
Montgomery $71,040 $82,880 $56,832 $66,304
Morgan $71,040 $82,880 $56,832 $66,304
Muhlenberg $59,200 $68,080 $47,360 $54,464
Nelson $74,520 $86,940 $59,616 $69,552
Nicholas $71,040 $82,880 $56,832 $66,304
Ohio $71,040 $82,880 $56,832 $66,304
Oldham $71,500 $82,225 $57,200 $65,780
Owen $71,040 $82,880 $56,832 $66,304
Owsley $71,040 $82,880 $56,832 $66,304
Pendleton $93,960 $109,620 $75,168 $87,696
Perry $71,040 $82,880 $56,832 $66,304
Pike $71,040 $82,880 $56,832 $66,304
Powell $71,040 $82,880 $56,832 $66,304
Pulaski $71,040 $82,880 $56,832 $66,304
Robertson $71,040 $82,880 $56,832 $66,304
Rockcastle $71,040 $82,880 $56,832 $66,304
Rowan $71,040 $82,880 $56,832 $66,304
Russell $71,040 $82,880 $56,832 $66,304
Scott $84,120 $98,140 $67,296 $78,512
Shelby $75,200 $86,480 $60,160 $69,184
Simpson $59,200 $68,080 $47,360 $54,464
Spencer $85,800 $100,100 $68,640 $80,080
Taylor $59,200 $68,080 $47,360 $54,464
Todd $71,040 $82,880 $56,832 $66,304
Trigg $59,200 $68,080 $47,360 $54,464
Trimble $85,800 $100,100 $68,640 $80,080
Union $59,200 $68,080 $47,360 $54,464
Warren $59,200 $68,080 $47,360 $54,464
Washington $71,040 $82,880 $56,832 $66,304
Wayne $71,040 $82,880 $56,832 $66,304
Webster $71,040 $82,880 $56,832 $66,304
Whitley $71,040 $82,880 $56,832 $66,304
Wolfe $71,040 $82,880 $56,832 $66,304
Woodford $70,100 $80,615 $56,080 $64,492

Joel Lobb (NMLS#57916)
Senior Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346

Text/call 502-905-3708
kentuckyloan@gmail.com

 NMLS Consumer Access for Joel Lobb 

Privacy Policy

If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

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#57916

— 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.

http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu

 

Kentucky FHA Mortgage Loans Guidelines

cropped-unnamed-57.jpg

Kentucky FHA Loan Requirements

The requirements for Kentucky FHA loans are set by HUD.

  • Borrowers must have a steady employment history of the last two years within the same industry or line of work. Recent college graduates can use their transcripts to supplant the 2 year work history rule as long as it makes sense.
  • Self-Employed will need a 2 year history of tax returns filed with IRS. They will take a 2 year average.
  • FHA requires a 3.5% down payment. Can be gifted from family member or from retirement savings plan, or money saved-up. Any type of cash deposits are not allowed for down payments. No exceptions to this rule!! This is one of the biggest issues I see in FHA underwriting nowadays.
  •  FHA loans are  for primary residence occupancy. Not rental houses.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees…

View original post 453 more words

Author: Louisville Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Zero Down Payment Home Loans

I have helped over 589 Kentucky families buy or refinance their home over the last 18 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process. I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues. You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process. Give us a try or let us compare your options on your next mortgage transaction. Call me locally at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at kentuckyloan@gmail.com with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance. Customer Testimonials 😍😍😍 We just moved here the first of January in 2017 from Ohio to the Louisville, KY area and we found Joel's website online. He was quick to respond to us and got back the same day on our loan approval. He was very knowledgeable about the local market and kept us up-to date throughout the loan process and was a pleasure to meet at closing. Would recommend his services. Angela Forsythe "We were searching online for mortgage companies in Louisville, Ky locally to deal with and found Joel's website, and it was a godsend. He was great to work with, and delivered on everything he said he would do. I ended up referring my co-worker at UPS, and she was very pleased with his service and rates too. Would definitely vouch for him." September 2016 Monica Leinhardt "We contacted Joel back in July 2011 to refinance our Mortgage and he was great to work with. We contacted several lenders locally and online, and most where taking almost 60 days to close a refinance, Joel got it done in 23 days start to finish,I would definetly recommmend him. He got us 3.75% with just $900 in closing costs on our FHA Streamline loan. Kayle Griffin “Joel is one of the best Mortgage Brokers I have ever worked with in my sixteen years in the real estate and mortgage business.” May 25, 2010 Tim Beck “Joel has always worked very hard to keep his word and to work out seasonable solutions to difficult problems. He is truly an expert in FHA and other type loans.” September 1, 2010 Nancy Nalley “I have worked with Joel since 1998. He is a great loan professional.” I refer most of my Louisville, Kentucky area home buyers to him and he always take special care of them. August 23, 2012 Jon ClarK “Joel Lobb is a real professional in the lending industry, with many years of experience, he is the one to go to for any mortgage lending needs.” August 22, 2011 RICHARD VOLZ , Residential Sales , Remax Foursquare Realty “When looking to purchase our new home in 2006, I had the pleasure of meeting Joel Lobb. Not only was he personable and easy to reach, he was extremely knowledgable in his field and made sure to find us the best rate and a top notch mortgage company. We were able to complete the process in less than 3 weeks with his expertise. I find Joel to have the utmost high integrity and I recommend him to anyone who say's they are need of mortgage assistance. He is also fantastic and keeping everyone up to date on the latest in the housing industry through his twitter posts. He provided great results for our family and we still communicate to this day!” August 21, 2010 Stacie Drake "We first use Joel on our new home purchase in 2007 in St Matthews, Kentucky area and he was great to work with. We have since refinanced our home with him in 2010 when rates got really low and he has always delivered on what he says. I could not imagine using anyone else." Melody Glasscock March 2014 Absolutely Amazing!! I emailed Joel after I had just got a denial from a bank and just thought i would try to get some advice on what my next steps would be to get a house. I honestly didn't expect to even get a reply because my credit is not great. That was about a week and a half ago. I just signed a contract on a house last night. ONLY because of Joel Lobb. He even worked with us throughout the weekend, which shocked me. Best decision I have ever made. THANK YOU SO MUCH FOR WORKING WITH US THROUGHOUT THE ENTIRE PROCESS. Cee Bellisle August 2017 Contacted him about buying a home and he was great to work with. I was moving to Louisville Ky to take a new job and he walked me through the entire process. He explained to me all the different options for FHA, VA, USDA mortgage loans and credit score requirements versus Fannie Mae. Since I was a first time home buyer I needed alot of help and guidance. I would definitely recommend him. Fast to respond and available to answer questions that I or my realtor had after hours. Anderson Johnson April 2018 Wow, what a great loan officer. I was referred to him by our agent and he was great to work with. We used him for a USDA no money down loan in Shelby County and we were really impressed. We were afraid we could not buy a home since we did not have money saved for a down payment, but Joe l was able to get us a zero down loan and we even got our appraisal fee and good faith deposit back at closing. We actually got money back at closing!!! I Can't think him enough. Our family moved from our apartment in the south end of town to get our own home with 5 acres for our kids and 2 dogs, at a payment that is equal to our rent payment also. .Thanks Again Joel. May god bless you Patty Locker We contacted Joel about buying a house on our move from Ohio for my husband's job transfer with Ford. We put a lot of trust in him since we were new to the area and first time home buyers in the Louisville KY market, and he always delivered on what he said. It took us a while to find a home due to the lack of homes, but once we got one, he was always quick to respond our questions via text or email ,and kept us informed through the process. We got to meet him at the closing and he was super nice and even got us a closing gift for our home which we didn't expect at all. Super nice guy 😀!!! I would definitely recommend him for a local Home loan in the Louisville area. pam dolby I got a VA loan with Joel and he was great. He is an ex-army guy so he could relate to my past experiences of being a veteran and moving around the country a lot. I had some credit issues that required a little extra work but Joel was able to find A VA lender to approve my situation as far as having past bad credit problems and a lower credit score. We closed yesterday on our home here in Louisville and we could not be happier. We finally have a home of our own thanks to Joel . I would definitely recommend him for a mortgage loan. Great experience and closed 8 days before expected close date so we were able to move in early. larry summit I contacted Joel about the $10,000 KY Housing Grant last month and we were able to get it and I just closed on my home. He was great to work with and if you are a first time home buyer here in Louisville, I would definitely contact him. I met him at his office and he was very nice and knowledgeable and kept me informed through the process. No surprises either so I was very happy. I am new homeowner thanks to Joel . Joel Lobb Senior Loan Officer American Mortgage Solutions, Inc. 10602 Timberwood Circle Suite 3 Louisville, KY 40223 phone: (502) 905-3708 Fax: (502) 327-9119 kentuckyloan@gmail.com http://www.mylouisvillekentuckymortgage.com/ Company ID #1364 | MB73346E This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. http://www.nmlsconsumeraccess.org/ 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. NMLS#57916 http://www.nmlsconsumeraccess.org/ . 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.

4 thoughts on “Kentucky FHA Loan Requirements for 2020”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.