Kentucky Mortgage Terms to Know

Glossary of Mortgage Terms to Know For A Kentucky Mortgage Loan.

ACCRUED INTEREST: Accumulated interest since the principal investment that has
not yet been paid.
AMORTIZATION: Paying off debt, principal and interest, with a fixed repayment schedule
in regular installments over a fixed period of time.
ANNUAL PERCENTAGE RATE (APR): The annual rate charged for borrowing money
expressed as a percentage. APR takes into account interest, discount points, lender fees
and mortgage insurance.
APPLICATION FEE: A fee charged by a lender to cover the initial costs of processing a
loan application.
APPRAISAL: A written estimate of a property’s current market value, based on the current
condition of the property and recent sales information from similar properties in the same
area.
APPRAISAL FEE: The cost to have a licensed, certified appraiser estimate the market value
of a property as of a specific date.
BORROWER: An individual who receives a loan from a lender with the intention of repaying
the loan in full over the agreed upon time-frame.
CAP: A limit on the amount the interest rate can increase or decrease for an ARM, either in
an adjustment period or over the life of the loan.
CERTIFICATE OF ELIGIBILITY: A document given to qualified veterans entitling them to a
VA loan. Obtained by sending DD-214 (Separation Paper) to the local VA office with VA
form 1880 (request for Certificate of Eligibility).
CERTIFICATE OF REASONABLE VALUE (CRV): An appraisal issued by the VA.
CLOSING: Also called “settlement,” is when all parties in a mortgage loan transaction sign
the necessary documents to legally transfer property and funds.
CLOSING COSTS: Expenses incurred during the home purchase or refinance process that
are paid at closing, including the loan origination fee, discount points, attorney’s fees, title
insurance, appraisals, etc.
CLOSING DISCLOSURE (CD): A five-page document listing final details about the mortgage
such as loan terms, projected monthly payments and total closing costs.
COMMITMENT LETTER: A legal document issued to a loan applicant from the lender to
provide them with a mortgage under certain terms and conditions.
COMPARABLES: An abbreviation for “comparable properties;” recently sold properties
with similar characteristics and location to the subject property that help the appraiser
determine the fair market value of the subject property.
CONVENTIONAL LOAN: A loan not secured by the U.S. government, such as FHA,
VA, or USDA.
DEBT-TO-INCOME RATIO (DTI): A percentage of an individual’s debt, measured by dividing
total monthly recurring debt payments by gross monthly income.
DEED: A written legal document showing who owns a particular property. This must be
signed to transfer a property’s ownership rights to a new homeowner.
DEPARTMENT OF VETERANS AFFAIRS (VA): A government agency that manages
benefits and other services for eligible veterans of the military.
DOWN PAYMENT: The upfront money paid to purchase a home. It is deducted from the
total amount of a mortgage and represents the beginning equity.

EARNEST MONEY: A security deposit made by a buyer to a seller to demonstrate that
the buyer is serious and willing to purchase the property.
EQUAL CREDIT OPPORTUNITY ACT (ECOA): Federal law enacted in 1974 making it
unlawful for any creditor to discriminate based on race, color, religion, national origin,
age, sex, marital status or receipt of income from public assistance programs.
EQUITY: The portion of a property that homeowner owns. Equity is the difference between
the home’s fair market value and the outstanding balance of the mortgage on the property.
ESCROW: A third party that holds money to ensure pay property taxes, homeowner’s
insurance or mortgage insurance is paid on time.
HAZARD INSURANCE (HOMEOWNER’S INSURANCE): Protects a homeowner against
loss due to fire or other natural disasters in exchange for a premium paid to the insurer.
HOMEOWNERS ASSOCIATION (HOA): An organized group of owners, usually found in
condominiums or closed communities, who manage the common areas and enforce rules.
INTEREST RATE: The amount charged to borrow money from a lender, expressed as a
percentage of the principal loan.
LOAN ESTIMATE (LE): A three-page document that explains the important details
about a borrower’s loan, including the estimated interest rate, monthly payment and
total closing costs for the loan. The LE will be provided within three business days of
the lender receiving the loan application.
LOAN-TO-VALUE RATIO (LTV): The percentage of the loan amount to the appraised
value of the property.
LOCK-IN RATE: An offer by a lender to guarantee an interest rate for a set period of time.
MARKET VALUE: Also called “home value;” the amount for which a house will likely sell.
MORTGAGE INSURANCE (MI): Insurance that protects the lender if a borrower defaults
on their mortgage loan. MI is usually required if the down payment is less than 20% of
the purchase price.
ORIGINATION FEE: A fee charged by a lender to cover the administrative costs of
processing a loan.
PREPAYMENT: An advanced principal payment prior to the due date, thus saving money
on interest.
PREPAYMENT PENALTY: A fee charged to borrowers for paying ahead on their mortgage.
PRINCIPAL: Outstanding loan balance still owed to the lender, not including interest.
REALTOR: A licensed real estate professional who represents a buyer or seller in a real estate
transaction in exchange for a commission; a member of the National Association of Realtors.
REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA): A federal law requiring lenders
to provide disclosures to borrowers informing them of loan settlement costs. These guidelines
provide acceptable practices and fees in real estate transactions.
SECOND MORTGAGE: An additional mortgage, or lien, placed on a property with subordinate
rights to the first mortgage.
TERM: The period of time that covers the life of the loan, usually in years.
TITLE: A document that indicates ownership of a property, as well as rights of ownership
and possession of the property.
TITLE INSURANCE: Insurance that protects the lender (lender’s policy) or the buyer
(owner’s policy) against loss due to disputes over property ownership.

Kentucky First Time Home Buyer Questions to Ask Your Lender?

∘ What kind of credit score do I need to qualify for different first time home buyer loans in Kentucky?

Answer. Most lenders will wants a middle credit score of 640 for KY First Time Home Buyers looking to go no money down. The two most used no money down home loans in Kentucky being USDA Rural Housing and KHC with their down payment assistance will want a 640 middle score on their programs.

If you have access to 3.5% down payment, you can go FHA and secure a 30 year fixed rate mortgage with some lenders with a 580 credit score. Even though FHA on paper says they will go down to 500 credit score with at least 10% down payment, you will find it hard to get the loan approved because lenders will create overlays to protect their interest and maintain a good standing with FHA and HUD.

Another popular no money down loan is VA. Most VA lenders will want a 620 middle credit score but like FHA, VA on paper says they will go down to a 500 score, but good luck finding a lender for that scenario.

A lot of times if your scores are in the high 500’s or low 600’s range, we can do a rapid rescore and get your scores improved within 30 days.

∘ Does it costs anything to get pre-approved for a mortgage loan?

Answer: Most lenders will not charge you a fee to get pre-approved, but some lenders may want you to pay for the credit report fee upfront. Typically costs for a tri-merge credit report for a single borrower runs about $50 or less. Maybe higher if more borrowers are included on the loan application.
∘ How long does it take to get approved for a mortgage loan in Kentucky?

Answer: Typically if you have all your income and asset documents together and submit to the lender, they typically can get you a pre-approval through the Automated Underwriting Systems within 24 hours. They will review credit, income and assets and run it through the different AUS (Automated Underwriting Systems) for the template for your loan pre-approval. Fannie Mae uses DU, or Desktop Underwriting, FHA and VA also use DU, and USDA uses a automated system called GUS. GUS stands for the Guaranteed Underwriting System.

If you get an Automated Approval, loan officers will use this for your pre-approval. If you have a bad credit history, high debt to income ratios, or lack of down payment, the AUS will sometimes refer the loan to a manual underwrite, which could result in a longer turn time for your loan pre-approval answer

∘ Are there any special programs in Kentucky that help with down payment or no money down loans for KY First Time Home Buyers?

Answer: There are some programs available to KY First Time Home Buyers that offer zero down financing: KHC, USDA, VA, Fannie Mae Home Possible and HomePath, HUD $100 down and City Grants are all available to Kentucky First Time Home buyers if you qualify for them. Ask your loan officer about these programs
∘ When can I lock in my interest rate to protect it from going up when I buy my first home?

Answer: You typically can lock in your mortgage rate and protect it from going up once you have a home picked-out and under contract. You can usually lock in your mortgage rate for free for 90 days, and if you need more time, you can extend the lock in rate for a fee to the lender in case the home buying process is taking a longer time. The longer the term you lock the rate in the future, the higher the costs because the lender is taking a risk on rates in the future.

Interest rates are kinda like gas prices, they change daily, and the general trend is that they have been going up since the Presidential election in November 2016.
∘ How much money do I need to pay to close the loan?

Answer: Depending on which loan program you choose, the outlay to close the loan can vary. Typically you will need to budget for the following to buy a home: Good faith deposit, usually less than $500 which holds the home for you while you close the loan. You get this back at closing; Appraisal fee is required to be paid to lender before closing. Typical costs run around $400-$450 for an appraisal fee; home inspection fees. Even though the lender’s programs don’t require a home inspection, a lot of buyers do get one done. The costs for a home inspection runs around $300-$400. Lastly, termite report. They are very cheap, usually $50 or less, and VA requires one on their loan programs. FHA, KHC, USDAS, Fannie Mae does not require a termite report, but most borrowers get one done.

There are also lender costs for title insurance, title exam, closing fee, and underwriting fees that will be incurred at closing too. You can negotiated the seller to pay for these fees in the contract, or sometimes the lender can pay for this with a lender credit.

The lender has to issue a breakdown of the fees you will incur on your loan pre-approval.
How long is my pre-approval good for on a Kentucky Mortgage Loan?

Answer: Most lenders will honor your loan pre-approval for 60 days. After that, they will have to re-run your credit report and ask for updated pay stubs, bank statements, to make sure your credit quality and income and assets has not changed from the initial loan pre-approval.

How much money do I have to make to qualify for a mortgage loan in Kentucky?

Answer: The general rule for most FHA, VA, KHC, USDA and Fannie MAe loans is that we run your loan application through the Automated Underwriting systems, and it will tell us your max loan qualifying ratios.

There are two ratios that matter when you qualify for a mortgage loan. The front-end ratio, is the new house payment divided by your gross monthly income. The back-end ratio, is the new house payment added to your current monthly bills on the credit report, to include child support obligations and 401k loans.

Car insurance, cell phone bills, utilities bills does not factor into your qualifying rations.

If the loan gets a refer on the initial desktop underwriting findings, then most programs will default to a front end ratio of 31% and a back-end ratio of 43% for most government agency loans that get a refer. You then take the lowest payment to qualify based on the front-end and back-end ratio.

So for example, let’s say you make $3000 a month and you have $400 in monthly bills you pay on the credit report. What would be your maximum qualifying house payment for a new loan?

Take the $3000 x .43%= $1290 maximum back-end ratio house payment. So take the $1290-$400= $890 max house payment you qualify for on the back-end ratio.

Then take the $3000 x .31%=$930 maximum qualifying house payment on front-end ratio.

So now your know! The max house payment you would qualify would be the $890, because it is the lowest payment of the two ratios.

Joel Lobb
Senior Loan Officer

(NMLS#57916)

American Mortgage Solutions, Inc.

10602 Timberwood Circle, Suite 3

Louisville, KY 40223

text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.

All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.

Louisville Kentucky Affordable Housing

http://www.wdrb.com/story/20150138/450000-for.

http://wfpl.org/post/report-92000-louisvillians-cant-afford-housing-450000-raised-trust-help-them

Report: 92,000 Louisvillians Can’t Afford Housing; $450,000 Raised for Trust to Help Them

By PHILLIP M. BAILEY

Leaders with the Louisville Affordable Housing Trust Fund have secured about $500,000, but the fund’s advocates are urging Mayor Greg Fischer to do more to secure annual funding.

The trust fund is meant to give grants and loans for affordable housing activities, such as new construction, home rehabilitation, payment assistance and emergency repair.

About 92,000 Louisville families cannot afford their rent or mortgage, according to a report assessment compiled by the group. The report noted that that number is more than four times the capacity of the KFC Yum Center.

(Read the report here.)

The city made a one-time contribution of $100,000 to the fund that was matched from the business community, in addition to another $250,000 from Kentucky’s National Mortgage Settlement.

The Metro Council created the trust fund in 2008 with a $10 million goal per year, but the initiative has struggled to gain a financial foothold as the housing crisis spreads. According to a report assessment compiled by the group, around 92,000 Louisville families cannot afford their rent or mortgage, noting that number is more than four times the capacity of the KFC Yum Center.

Fischer said investing in affordable housing is important, but stressed that due to large budget deficits Metro Government will have to find other revenue streams to meet its goals.

“It’s this type of public-private partnership that are making almost everything happen in today’s world,” he said. “There’s just not enough money in the public coffers — and that’s us — and the public is not racing up to me saying, ‘We need to raise taxes for our general fund.’ So until that happens we’re going to need to continue to have partnerships to get this done.

Instead of money from the general fund, Fischer outlined his push for the state to adopt a local option sales tax, which he said could provide the city with necessary revenue to fully fund the initiative.

The blue ribbon tax commission formed by Governor Steve Beshear endorsed that ideathis week, saying local communities should have the ability to fund specific projects.

Mayor’s Proposal Criticized

But leaders with the grassroots organization Citizens of Louisville Organized and United Together, which has been a critic of Fischer’s and heavily involved in the affordable housing movement, argue that the mayor’s funding idea faces several hurdles, namely a change to the state constitution.

CLOUT President Chris Kolb said Fischer misled the group about securing permanent annual funding and is avoiding tough decisions as housing problems deepen, adding that a local option would be a regressive tax on low-income residents.

“Mayor Fischer knows this,” Kolb said. “So it’s a mystery to us why he’s stalling while every year thousands more working people, school children and families in Louisville suffer. That’s not very compassionat, Mr. Mayor. In fact, it’s callousness toward working people, families, seniors and veterans in our community who desperately need a place to call home.”

Among the several housing needs noted in the report, the trust fund’s board said they still lack a source of dedicated and ongoing public funding. The board recommends a one-percent increase to the city’s insurance premium tax as a dedicated public source that would generate an estimated $9.7 million annually, and warns that without proper funding it will not be able to meet its goals.

Other city officials have said Fischer’s proposal to use the local option sales tax to pay for the trust fund is not a bad idea, but that the city needs to address the housing crisis now.

“It’s not going to be happening out of our general fund dollars, folks. Because they’re depleted.” – Mayor Greg Fischer

“Let’s look at are there ways we can immediately on a local level, without having to go to Frankfort, that you and the administration and we on the Metro Council can fill in the gaps until we get there,” Councilwoman Tina Ward-Pugh, D-9, who sits on the trust fund board, told Fischer. “Because as you said, we don’t have time to waste and we don’t have people to waste. And affordable housing is a desperate need.”

The Problem, at a Glance

Other key findings in the report:

1 in 10 Jefferson County Public School students were homeless in the 2011-12 school year, indicating a 44 percent increase.
Louisville Metro needs to develop nearly 58,000 new affordable apartments in order to meet market demand.
37 percent of Louisville’s workforce has a median income below what is needed to afford rent and utilities for a two-bedroom apartment at market rate in Louisville.
Homeownership rates in Louisville have declined to the lowest rate in five years, 63 percent.

Fischer says he remains supportive of the trust fund, but that more creative and alternative revenue streams have to be obtained first.

“It’s not going to be happening out of our general fund dollars, folks. Because they’re depleted,” he said. “We have to think of better ways that we’re more efficient but also raise revenue at the same time.”

http://wfpl.org/post/report-92000-louisvillians-cant-afford-housing-450000-raised-trust-help-them

Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

http://mylouisvillekentuckymortgage.com

Thanks for supporting affordable housing! (spiceofyourlife.wordpress.com)
Affordable housing units officially open at Martin House (insidehalton.com)
[New post] Philly: Affordable-housing plan using eminent domain advances in Council (commercialappraiser.typepad.com)
Affordable housing project (vcstar.com)
Working to make affordable housing a reality for all (insidehalton.com)
Affordable housing propping up first-time buyer market (gateway-homes.co.uk)
Nationwide Housing Affordability Improves in Third Quarter (eyeonhousing.wordpress.com)
Grant Funds Aid Rehabilitation Efforts for Ackerman Affordable Housing Community (virtual-strategy.com)
Grand Rapids listed as one of the nation’s Top 10 affordable housing markets (mlive.com)
10,000 in Fredericton ‘vulnerably housed,’ committee says (cbc.ca)

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 definitely recommend 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 2018

😃

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

We moved from Michigan to Northern Kentucky area and we were really impressed. We got a USDA loan no money down and closed in less than 3.5 weeks. We shopped around online with other lenders but Joel was always first to respond and his rates were just a little better than other lenders. He kept us informed through the process along with our realtor and there was absolutely no surprises like we heard from other co-workers and friends that they experienced in their loan process. We have already referred another co-worker to Joel . He’s AWESOME!

Patty Kingston July 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.

😍😍😍👍

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 .

Betty parsons

As a life-long Kentucky resident, I have helped over 579 Kentucky families buy or refinance their home over the last 17 years. You can trust me for your next mortgage loan. I deliver on what I say and I will give you honest, up-front personal attention you deserve for your home loan. I have several advantages over the big- mega banks in town. First, I can shop your loan thru different mortgage companies across the country to get you the best deal out there, whereas most banks will offer offer you there one and only deal. I have access to over 15 different mortgage companies to broker your loan thru. My rates and fees are just as good or better than local banks and you will not get lost in the shuffle like most borrowers do at the mega banks; your just not a number at our company, you are a person and we will treat you like one throughout the entire process. Free pre-approvals within 2 hours and get your loan closed within 15 days. Give us a try or let us compare what you have now. Call me or text me locally anywhere in KY at 502-905-3708; this is my personal cell phone and I carry it on me at all times. Free credit reports and approvals.

Website Fine Print
The content provided on this website is presented or compiled by Joel Lobb and is provided for informational purposes only. It does not necessarily represent the views or opinions of his employer.

Joel Lobb or his employer assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information disclosed, or represents that its use would not infringe privately owned rights.

The mortgage or financial services or strategies mentioned in this website may not be not suitable for you.

Joel Lobb is a Licensed Mortgage Originator: NMLS #57916.
Legal Disclaimer

This web site is not the FHA, VA, USDA, HUD or any other government organization responsible for managing, insuring, regulating or issuing residential mortgage loans.

**Download Fair Housing Booklet – CLICK HERE

All approvals and rates are not guaranteed, and are only issued based on standard mortgage qualifying guidelines.

This blog is a sponsored blog created or supported by a company, organization or group of organizations. For questions about this blog, please contact Joel Lobb 502-905-3708 or email kentuckyloan@gmail.com NMLS# 57916.

This blog does not accept any form of advertising, sponsorship, or paid insertions. We write for our own purposes. However, we may be influenced by our background, occupation, religion, political affiliation or experience.

This blog abides by word of mouth marketing standards. We believe in honesty of relationship, opinion and identity. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post will be clearly identified as paid or sponsored content.

The owner(s) of this blog is not compensated to provide opinion on products, services, websites and various other topics. The views and opinions expressed on this blog are purely the blog owners. If we claim or appear to be experts on a certain topic or product or service area, we will only endorse products or services that we believe, based on our expertise, are worthy of such endorsement. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider.

This blog does contain content which might present a conflict of interest. This content will always be identified.

See link👇

Accessibility Statement

Users with Visual Disabilities

Images on this website are accompanied by alternative text describing graphics.

Documents on website may occasionally be presented in formats other than HTML. These formats are generally accessible to users using screen reading software. The screen reading capabilities of Adobe Acrobat Reader (full version) will allow vision impaired visitors to access PDF content.

If you have any difficulty viewing any page with adaptive technology, please let us know.

Additional Accommodations

The Commonwealth of Kentucky provides, upon request, reasonable accommodations including auxiliary aids and services necessary to afford an individual with a disability an equal opportunity to participate in all services, programs and activities. To request materials in an alternative format, each agency web site provides information for contacting the person or persons responsible for providing the service within the agency. Persons with hearing and speech impairments can contact each agency by using the Kentucky Relay Service, a toll-free telecommunication device for the deaf (TDD). For voice to TDD, call 800-648-6057. For TDD to voice, call 800-648-6056

We follow standards established by the Web Content Accessibility Guidelines (WCAG) 2.0. We are actively seeking to improve our performance to meet Level AA guidelines of the WCAG.

If you experience difficulty using our site, please let us know the nature of the problem, the web address of the page(s) involving the issue, and full contact information in the event we need more details. You can call 502-905-3708 or email kentuckyloan@gmail.com to report any difficulties, and we will work with you to provide the information requested.

The mortgage or financial services or strategies mentioned in this website may not be not suitable for you.

Joel Lobb is a Licensed Mortgage Originator: NMLS #57916.
Legal Disclaimer

This web site is not the FHA, VA, USDA, HUD or any other government organization responsible for managing, insuring, regulating or issuing residential mortgage loans.

**Download Fair Housing Booklet – CLICK HERE

All approvals and rates are not guaranteed, and are only issued based on standard mortgage qualifying guidelines.

PRIVACY POLICY
“Site” refers to this Internet web site ) and its related services. “You” or “User” refers to a registered user of this Site. “American Mortgage Solutions.” or “We” refers to American Mortgage Solutions..
This Site contains links to other sites.
American Mortgage Solutions. is not responsible for the privacy practices of the content of any other Web sites to which We link or to which We are linked. We encourage You to read the posted privacy statement whenever interacting with any web site.
The Work Space.
This area of the Site is for the benefit of Users. The private and shared Work Space areas of the Site help to facilitate communication and the exchange and sharing of information. The information contained in private work spaces shared between Users and American Mortgage Solutions. is not used for any purposes other than to facilitate communication and the exchange of information between the parties involved.

Information We Gather.

Registration.
If You register to use or provide services using American Mortgage Solutions., we may collect and store information that specifically identifies You or your account (“Personally Identifiable Information”). The required information may include your User ID, password, first name, last name, business name, address, city, state, zip/postal code, phone, fax, email and web site address. We may, in the future, include other optional requests for information from You, to help us to tailor the Site for You and deliver personalized information to You.

Online Surveys and Contests.
American Mortgage Solutions. may conduct online user surveys to collect information about our Users preferences. These surveys are optional and if You choose to respond, your responses will be kept anonymous. Similarly, we offer contests to qualifying Users in which we ask for contact and demographic information such as name, email address and mailing address.

Automatically Gathered Information.
American Mortgage Solutions. automatically collects your browser type and browser software version to tailor the presentation of the services to your platform and to maintain a record of your activity on the Site. American Mortgage Solutions. may also use cookies to enable users to specify unique preferences and to track user trends and patterns. Users always have the option of disabling cookies via their browser preferences. If You disable cookies on your browser, please note that some parts of our Site may not function as effectively or may be considerably slower. As an automatic process, our web server software records a log file of IP addresses that access the Site. We also collect IP address information but do not ordinarily link IP addresses to Users Personally Identifiable Information. However, We can and will use IP addresses to identify a User when We, in our sole discretion, determine that it is necessary to enforce compliance with our Terms and Conditions of Use or to protect our service, Site, customers or others.

Your Public Profile.
As part of registration, You may be required to provide contact information such as name, address, city, state, zip, phone, fax and email address, some of which can be displayed to other users of our service in an effort to simplify communication between members.

How We Use Information.

Registration Information.
We use Personally Identifiable Information for our own internal purposes including contacting You via email to inform You about updates to our services and providing You with other information that we deem necessary. We reserve the right to disclose your information as required by law. We do not rent or sell our Users Personally Identifiable Information to third parties.

Advertising.
At this time we do not display banner advertising on our site, but we may send You email communications including information that we think may be of interest to You. You may opt out of receiving these promotional email communications, either when You register to become a Member, or at any time thereafter by contacting us.

Demographic Information, Surveys and Contests.
The demographic information that American Mortgage Solutions. collects in the registration process and through online surveys may be used to help us improve our services to meet the needs and preferences of our Users. This may include targeting advertising to You about our services. Information we gather through a contest may also be disclosed to third parties as necessary for prize fulfillment and other aspects of any contest or similar offering.

Comments Submitted by Users.
American Mortgage Solutions. constantly seeks to improve the quality of the services We provide and the User experience on the Site. We value your input and encourage You to help us expand and make improvements to the Site by providing Us with any thoughts or comments You might have regarding our services or the operation of the Site. You can submit any comments by contacting us. If You provide this information, we will only use it to acknowledge or respond to your comments. In certain circumstances, we may ask for your permission to post your comments in marketing or promotional materials.

Security.
We will use commercially reasonable methods to keep Personally Identifiable Information securely in our files and systems. Please note that with current technology, we cannot guarantee the security of your data as it travels over the Internet.

How We Respond To Browser Do Not Track Requests
American Mortgage Solutions. and other parties not affiliated with us may collect Personally Identifiable Information about your online activities over time and across different websites when you use our website or the services offered on our website. Industry standards regarding how to handle “Do Not Track” requests from web browsers are still evolving and there is currently no set of industry standards for handling such requests. As such we may not separately respond to or take any action with respect to a “do not track” configuration set in your internet browser. At this time, we do not have any protocol in place that allows you to opt-out of internet tracking. If you have any questions regarding our internet tracking methods please contact us.
Terminating Your Membership.
We save your Personally Identifiable Information until your membership with us is terminated. To terminate your membership, contact us. If You terminate your membership, your Personally Identifiable Information cannot be recovered. You may continue to receive email communications for a short period of time until we have updated all of our databases. After termination of your membership, your Personally Identifiable Information may remain on our archived database and records for a reasonable time as residual information. We will not use this residual information. Notwithstanding the above, we will maintain information on Users who have been removed for violating our Membership Agreement.

Correcting/Updating Your Information.
To correct and/or update your information, please contact us.

Contacting Us.
If You have any questions about this Privacy Agreement or the practices of this Site, you may contact us at:
American Mortgage Solutions.
Customer Service
10602 Timberwood Circle, Suite 3
Louisville, Kentucky 40223
502-905-3708

Glossary of Mortgage Terms to Know For A Kentucky Mortgage Loan.

Share this:

Kentucky First Time Home Buyer Questions to Ask Your Lender?

Share this:

Report: 92,000 Louisvillians Can’t Afford Housing; $450,000 Raised for Trust to Help Them

Related Articles

Share this: