Category Archives: fhe refinance

Kentucky FHA Loan Requirements for 2019

Originally posted on Kentucky FHA Mortgage Loans Guidelines :
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…

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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Repair Escrows for Kentucky USDA, FHA, VA, Fannie Mae Home loans

  Most Kentucky mortgage lenders prefer that each property be 100% complete at the time of closing; however, there are situations that warrant exceptions for escrow holdbacks, such as weather-related circumstances, lack of materials available for finishing, foreclosure sales and short-sales where the seller cannot or will not allow property repairs to be completed prior […]
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Kentucky FHA Loans Compared to Kentucky Conventional Loans

  When it comes to financing a home a buyer is faced with the decision of what type of loan they want. The two most common choices are FHA or Conventional. Both have their advantages and disadvantages. Follow the chart below to see which one is a fit for you! For more information on homes […]
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Refinancing FHA Mortgage loans.  FHA STREAMLINES: FHA to FHA Refinance 620 minimum Credit Score NO AUS findings run NO Income stated on application or verified NO Appraisal – COSTS CAN NOT BE ROLLED INTO LOAN –No longer an allowable option Verify assets only for cash to close If you pay ALL costs with interest rate […]
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SURRENDURING YOUR HOME IN BANKRUPTCY.   by: Tracy L. Hirsch, Attorney One of the hardest decisions a family has to make is deciding to surrender their home in a bankruptcy proceeding. Often times, this means allowing a home to go through the foreclosure process and discharging their mortgage obligations in a Chapter 7 bankruptcy. Many […]
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