FHA Mortgage guidelines for a Kentucky property that has well water and septic.

Originally posted on Kentucky FHA Mortgage Loans Guidelines :
? ? Below are Kentucky  FHA guidelines for a property that has well water and septic tanks for waste disposal .  The Kentucky FHA appraiser should be able to address the distance between the well and septic for distance requirements, and comment if public sewers are available.…

Can you get A Kentucky USDA Loan after  bankruptcy, foreclosure, or short sale?

Originally posted on Kentucky USDA Mortgage Lender for Rural Housing Mortgage Loans:
Getting Approved for a Kentucky USDA Loan after bankruptcy, foreclosure, or short sale. The Kentucky USDA Rural Loan program requires a minimum of three years from the date of a bankruptcy, foreclosure, or short sale to the borrower being eligible for a USDA…

First Time Homebuyer Choices

Originally posted on Stuff About Mortgages:
I deal with first time homebuyers on a daily basis and I love it.  Most first time buyers need guidance, advice, and someone they can trust.  One of the main questions I get asked is what choices do I have?  Or, I want a first time buyer program.  It’s…

Troubled about your credit scores?

Originally posted on Stuff About Mortgages:
          If you’re troubled about your credit scores, there are ways to get back on track and increase your scores in a short time.  Of course, this is going to take some work and effort on your part, but it will definitely be worth it. …

FHA says as many as 50,000 mortgages will be affected by new lending rules

Originally posted on Kentucky FHA Mortgage Loans Guidelines :
Two weeks ago, the FHA took steps to limit risk to its single-family portfolio, announcing that it will flag some loans for manual underwriting. FHA’s Chief Risk Officer Keith Becker told the WSJ just how many loans the agency thinks will be affected, adding that the FHA…

Latest FHA shift to mitigate risks may shut out some Kentucky home buyers wanting FHA Loans in 2019

Originally posted on Kentucky FHA Mortgage Loans Guidelines :
? Latest FHA shift to mitigate risks may shut out some homebuyers: Kentucky FHA Loan Changes for FICO Scores and Credit Scores for 2019 Last week, the Federal Housing Administration took steps to mitigate risks to its single-family portfolio, announcing updates to its TOTAL Mortgage Scorecard that may flag some loans for manual…

Lenders continue to lower FICO requirements for new homebuyers

  The average agency FICO score for banks is high at 745, compared to 713 at nonbank lending institutions.  Both show FICO requirements are on the way down, but it’s more pronounced at the nonbanks. Here’s why. Source: Lenders continue to lower FICO requirements for new homebuyers   The nation’s major banks are continuing to […]
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FHA eliminates two unnecessary and outdated lending roadblocks

Originally posted on Kentucky FHA Mortgage Loans Guidelines :
The Federal Housing Administration has taken steps to reduce some of the regulatory burdens that belabor the lending process, releasing two mortgagee letters Tuesday with updated guidelines on home warranty and inspection requirements for single-family FHA loans. FHA Commissioner Brian Montgomery said the moves align with the…

>The Kentucky MCC Program

Originally posted on Louisville Kentucky Mortgage Lender FHA, VA, Fannie Mae and Kentucky Housing Loans:
>The Kentucky MCC Program!! The MCC (Mortgage Credit Certificate) program is a state tax credit program currently available to qualified buyers. It allows a tax credit of up to 25% of the mortgage interest paid each year, not to exceed…

Kentucky VA loans skyrocket in popularity for first-time home buyers

Originally posted on Kentucky VA Mortgage Lender:
Service members are far more likely to opt for a Department of Veterans Affairs mortgage than any other type of loan when buying their first home, a new report from the Consumer Financial Protection Bureau shows. Here’s a look at how much more popular Kentucky VA loans have…