Louisville Ky VA Loans


Originally posted on Kentucky VA Mortgage Home Lender:
Louisville Ky VA Loans Why a VA Loan? The more you know about our home loan program, the more you will realize how little “red tape” there really is in getting a VA loan. These loans are often made without any down payment at all, and frequently…

Getting a Mortgage loan in Kentucky again after A Chapter 7 or Chapter 13 Bankruptcy.


Originally posted on Louisville Kentucky Mortgage Loans:
via SURRENDERING YOUR HOME IN BANKRUPTCY Getting a Mortgage Again in Kentucky after a Bankruptcy. Guidelines for FHA, VA, USDA AND CONVENTIONAL LOAN PROGRAMS. ? ? ? Chapter 7 Kentucky Bankruptcy Mortgage Questions How long do I have to wait to get a mortgage after my Chapter 7 Bankruptcy?…

Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial.


Originally posted on Kentucky VA Mortgage Home Lender:
Compensating Factors to over turn a Kentucky VA Loan Mortgage Denial Compensating factors may affect the loan decision for a Kentucky VA Mortgage.  These factors are especially important when reviewing loans which are marginal with respect to residual income or debt-to-income ratio.  They cannot be used to compensate for…

Does bad debt, collections, or charge offs on credit report have to be paid off to get a VA loan approval in Kentucky


Collections on Credit Report and How They affect a Kentucky VA Mortgage Loan Approval   Collection accounts are accounts for a debt that have been submitted to a collection agency by the creditor generally due to nonpayment. Below are general tips and guidance on what DU will require when collection accounts are reporting on a borrower’s […]
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Mortgage Tips to ensure your mortgage closes smoothly


Originally posted on Louisville Kentucky Mortgage Loans:
via Mortgage Tips Tips to ensure your mortgage closes smoothly: Credit Cards / New debt: Once you have applied for a mortgage, do not apply for new debt or credit cards, even if you do not plan to use them until after settlement. When you buy a home,…

Kentucky USDA Mortgage Upfront Guarantee Fee and the monthly mortgage insurance Annual fee


Originally posted on Louisville Kentucky Mortgage Loans:
via Kentucky USDA Mortgage Upfront Guarantee Fee and the monthly mortgage insurance Annual fee ? Kentucky Rural Housing Loans for 2018 USDA home loans in Kentucky are also known as the Rural Development Loan or RHS Loans. It is one of the best options for homebuyers that are…

Acceptable Income and Job History for a Mortgage Loan Approval in Kentucky


Mortgage Underwriters must follow both DU and agency guidelines when it comes to documenting and calculating qualifying income for a loan transaction. Income guidelines may vary slightly depending on the loan program and the borrower’s employment profile. Below are some general tips for W2 income.      Documentation that may be required Paystub with year […]
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Self-Employed with Income and Getting Approved for a Home Mortgage Loan in Kentucky?


Self Employed Income for FHA, VA, USDA and KHC Mortgage Loans Guidelines   • A borrower is considered self employed if they have 25% or more ownership in a business.   • Contract or 1099 employees are self employed borrowers   • There are 4 types of self employed business structures o  Sole Proprietorships o  […]
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First-Time Homebuyer Tax Credit


Originally posted on Kentucky First Time Home Buyer Loan Programs for FHA, VA, KHC, USDA, RHS, Fannie Mae Home Mortgage Loans in Kentucky for 2018:
First-Time Homebuyer Tax Credit The 2009 Economic Stimulus Bill, signed into law on February 17th, includes a tax credit for first-time homebuyers. All qualifying homebuyers are entitled to take advantage of…

Mortgage Borrowers Get Loan Approval With Lower Credit


Originally posted on Louisville Kentucky Mortgage Loans:
? Recent studies suggest that home buyers with low credit scores and high debt-to-income ratios may have an easier time qualifying for financing. New loans for borrowers with FICO scores reaching as low as the 400s jumped from 21.9 percent in 2009 to 29.7 percent last year, according…