Qualifying Loan Programs for First-Time Homebuyers in Louisville, Kentucky

 

Are you a first-time homebuyer in Louisville, Kentucky, looking to navigate the complexities of mortgage loans?

Understanding the various loan programs available and their qualifying criteria is crucial.

Let’s explore the key aspects of FHA, VA, and USDA loans, along with their requirements and average rates, tailored to Louisville’s housing market.

FHA Loans for Louisville Homebuyers

Down Payment: FHA loans offer a low down payment option of 3.5%, making homeownership more accessible.

Credit Score: While FHA loans are more lenient with credit scores, a score of 580 or higher is typically required for the 3.5% down payment. Lower credit scores down to 500 may be accepted with a 10% down payment.

Work History and Employment: Lenders typically look for 2 year stable employment and income history to ensure borrowers can repay the loan.

Income Ratio: Your debt-to-income ratio (DTI) should generally be 40% on the front end ratio and 50% on the backed ratio- lower, although some flexibility may exist based on compensating factors.

Bankruptcy and Foreclosure: Previous bankruptcies and foreclosures may not immediately disqualify you but may impact the waiting period before you can apply for an FHA loan. 2 years on Chapter 7, 1 year on Chapter 13, and 3 years on foreclosure.

Time to Close: FHA loans often have a quicker closing process compared to other loan types, typically within 30 to 45 days.

Home Inspections and Appraisal Reports: FHA loans require a home inspection to ensure the property meets safety and livability standards. An appraisal is also necessary to determine the home’s value.

Fixed Rates for 30 Years: FHA loans offer fixed-rate options for 30 years, providing stability in monthly payments.

Mortgage Insurance: FHA loans require both upfront mortgage insurance (UFMIP) and annual mortgage insurance premiums (MIP) no matter how much you put down and is for life of loan. Cheaper mortgage insurance on shorter term loans and larger down payments.

VA Loans for Louisville Homebuyers

Down Payment: VA loans offer a zero-down payment option, making them highly attractive to eligible veterans, active-duty service members, and select spouses.

Credit Score: While VA loans don’t have a credit score requirement, most lenders prefer a score of at least 580 to 620 or higher  for smoother approval processes.

Work History and Employment: 2 year Stable employment and income are essential, although VA loans may be more flexible with employment history, especially for veterans.

Income Ratio: The VA typically looks for a DTI of 41% or lower, but exceptions can be made based on compensating factors.

Bankruptcy and Foreclosure: Similar to FHA loans, previous bankruptcies and foreclosures may impact eligibility but may not be automatic disqualifiers. 2 years removed from Chapter 7 and 2 years removed from foreclosure. Chapter 13 one year  in plan okay . 

Time to Close: VA loans often have competitive closing times, usually within 30 to 60 days.

Home Inspections and Appraisal Reports: VA loans require a VA appraisal to ensure the property meets VA’s minimum property requirements (MPRs) and a pest inspection for termite-related issues. TERMITE REPORT REQUIRED ON ALL VA LOANS. 

Fixed Rates for 30 Years: VA loans offer fixed-rate options for 30 years, providing long-term payment predictability.

Mortgage Insurance: VA loans don’t require private mortgage insurance (PMI) but have a VA funding fee, which can be financed into the loan amount.

USDA Loans for Louisville Homebuyers

Down Payment: USDA loans offer a zero-down payment option for eligible rural and suburban homebuyers.

Credit Score: While USDA loans prefer a credit score of 640 or higher, lower scores may be considered with additional documentation.

Work History and Employment:  2 year Stable employment and income are essential for USDA loan approval.

Income Ratio: USDA loans typically require a DTI of 31% to 45% or lower, although exceptions may apply based on compensating factors.

Bankruptcy and Foreclosure: Previous bankruptcies and foreclosures may impact eligibility, and waiting periods may apply. 3 years removed from Chapter 7 and foreclosures, and one year in Chapter 13 okay.

Time to Close: USDA loans may have slightly longer closing times due to rural property eligibility checks and loan processing, often within 45 to 60 days.

Home Inspections and Appraisal Reports: USDA loans require a home inspection and an appraisal to ensure the property meets USDA’s standards. Must meet FHA appraisal requirements.

Fixed Rates for 30 Years: USDA loans offer fixed-rate options for 30 years, providing stability in monthly payments.

Mortgage Insurance: USDA loans require both upfront guarantee fees and annual fees for mortgage insurance, although the rates are typically lower than FHA’s MIP. Mortgage insurance is 1% upfront premium, and .35% a month for life of loan.

Average Rates and Mortgage Insurance Requirements

In Louisville, Kentucky, the average rates for FHA, VA, and USDA loans can vary based on market conditions, lender policies, and borrower qualifications. As of [current date], FHA loan rates in Louisville may range from [range], VA loan rates from [range], and USDA loan rates from [range], all for 30-year fixed-rate loans.

Mortgage insurance requirements differ for each loan type:

• FHA loans require both upfront mortgage insurance premiums (UFMIP) and annual mortgage insurance premiums (MIP).
• VA loans don’t require mortgage insurance but have a funding fee.
• USDA loans require upfront guarantee fees and annual fees for mortgage insurance, often lower than FHA’s MIP.

Conclusion

For first-time homebuyers in Louisville, Kentucky, understanding the qualifying criteria and nuances of FHA, VA, and USDA loans is vital. Each loan type offers unique benefits and considerations, from down payment options to credit score requirements and mortgage insurance. Working with a knowledgeable mortgage broker like Joel Lobb can help streamline the loan process and find the best financing option for your home purchase journey.

Hope your day is full of sunshine

Joel Lobb  Mortgage Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364

Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

 

 

 

 

NMLS 57916  | Company NMLS #1364/MB73346135166/MBR1574

 

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).

 

 

First Home Purchase in Kentucky: FHA, VA, USDA, and KHC Loans

Mortgage Approval First Home Purchase in Kentucky: FHA, VA, USDA, and KHC Loans

First-Time Homebuyers Kentucky Mortgage Offerings to consider

Here’s a comparison chart outlining different loan programs for first-time homebuyers in Kentucky in 2024:

Kentucky Mortgage Loan Program	Kentucky FHA Loan	Kentucky VA Loan	Kentucky USDA Loan	Kentucky Conventional Loan
Down Payment	3.5% of the purchase price	Typically no down payment	0% down payment	3% – 20% down payment
Credit Score Requirement	500-579: 10% down payment 580+: 3.5% down payment	No minimum credit score but typically 580 and above for lower credit score requirements	No minimum credit score but 640 or higher and some lenders will go down to 580 with compensating factors such as lower debt to income ratio and reserves	620 or higher
Mortgage Insurance	Upfront Mortgage Insurance Premium (UFMIP) and Annual Mortgage Insurance Premium (MIP)FHA loan requires both an upfront premium of 1.75% of the loan amount and an annual premium of 0.15% to 0.75%.4 Payment of upfront premiums is at the loan issuance.	Funding Fee varies from VA funding fees for home buying range from 1.4% to 3.6% of the loan amount, while fees for a VA refinance range from 0.5% (for an IRRRL refinance) to 3.6 percent (for a repeat VA borrower using a cash-out refinance)	Guarantee Fee 1% upfront and .35 monthly fee for life of loan	Private Mortgage Insurance (PMI) may be required-Based on credit score and down payment and debt to income ratio-Not for life of loan
Property Eligibility	Must be primary residence	Must be primary residence	Must be in eligible rural areas and primary residence	No specific property restrictions, primary residence, second home, rentals all okay
Income Limits	No specific income limits, but debt-to-income ratio restrictions apply	No specific income limits for VA loans, but VA has residual income requirements	Income must not exceed 115% of the area median income-They’re are income limits-be careful on this option	Typically no income limits
Interest Rates	Competitive interest rates	Typically lower interest rates	Competitive interest rates	Competitive interest rates
Loan Limits	Yes and varies by location	VA county loan limits apply	No loan limits	Conforming loan limits apply

First-Time Homebuyers Kentucky Mortgage Offerings to consider

Joel Lobb  Mortgage Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364

Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

 

 

 

 

NMLS 57916  | Company NMLS #1364/MB73346135166/MBR1574

 

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).

 

First-time home buyers in Kentucky. Joel Lobb

For first-time home buyers in Kentucky. Joel Lobb, a seasoned mortgage broker, has carved out a niche in assisting these individuals with a variety of loan options tailored to their unique needs. Here’s an overview of how Lobb is helping Kentuckians achieve their dream of owning a home.

### Joel Lobb: Facilitating Homeownership in the Bluegrass State

**A Diverse Range of Mortgage Options**

Joel Lobb specializes in a wide array of mortgage loans, including:
– **FHA Loans**: These loans are a great fit for buyers with lower credit scores or those who can afford only a minimal down payment.
– **VA Loans**: Tailored for veterans and active military members, offering favorable terms with little to no down payment.
– **USDA Loans**: Designed for rural home buyers, providing 100% financing options.
– **KHC Loans**: In collaboration with the Kentucky Housing Corporation, these loans come with down payment assistance, making them ideal for first-time buyers.

**Expert Guidance Through the Mortgage Process**

Lobb’s approach to mortgage lending is characterized by a personalized touch. He understands that purchasing a home is a significant milestone and offers his expertise to guide buyers through every step of the process. His services include:
– **Credit Counseling**: Assisting buyers in understanding and improving their credit scores to qualify for better loan terms.
– **Loan Comparison**: Helping clients compare different mortgage products to find the best match for their financial situation.
– **Pre-Approval Assistance**: Working with buyers to get pre-approved, which can make the home-buying process smoother and faster.

**Advantages Over Traditional Banking Institutions**

Unlike larger banks that may have a limited selection of mortgage products, Joel Lobb has the flexibility to broker loans through various mortgage companies. This allows him to offer:
– **Competitive Rates**: By shopping around, Lobb can find the most favorable interest rates and terms for his clients.
– **Customized Solutions**: He can address unique financial circumstances that may not fit into a traditional bank’s criteria.

**Commitment to First-Time Home Buyers**

Lobb’s dedication to first-time home buyers is evident in his commitment to making the process as accessible and understandable as possible. He provides:
– **Educational Resources**: Offering insights into the mortgage process, from understanding loan types to preparing for closing costs.
– **Community Involvement**: By assisting new homeowners, Lobb contributes to the economic growth and stability of communities across Kentucky.

**Conclusion**

For first-time home buyers in Kentucky, Joel Lobb offers a path to homeownership that is informed, personalized, and supportive. His expertise in various loan options and his dedication to client education make him a valuable resource for anyone looking to navigate the complexities of the mortgage landscape²³⁴.

—

This article is for informational purposes only and does not constitute financial advice. For personalized guidance, it’s recommended to consult directly with a mortgage professional like Joel Lobb.

Source: Conversation with Bing, 3/9/2024
(1) Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA. https://www.mylouisvillekentuckymortgage.com/2010/10/get-approved-for-mortgage-or-home-loan.html.
(2) Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural …. https://www.mylouisvillekentuckymortgage.com/.
(3) First-time Home-buyers in Kentucky – Louisville Kentucky Mortgage …. https://www.mylouisvillekentuckymortgage.com/p/common-questions-from-first-time.html.
(4) . https://bing.com/search?q=Joel+Lobb+mortgage+broker+Kentucky+first+time+home+buyers.
(5) Joel Lobb – Louisville, Kentucky, Key Financial Mortgage, University of …. https://about.me/joel.lobb.
(6) Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA. https://business.google.com/v/joel-lobb-mortgage-broker-fha-va-khc-usda/04361775572510182499/a2

2024 Welcome Home Grant Program for Kentucky Home Buyers $20,000

Kentucky Down payment assistance loans are available up to $20,000 for Mortgage with Welcome Home Grant 2024

Welcome Home Program Grant Program for Kentucky Home buyers in 2024

Information for Kentucky Homebuyers
Welcome Home Program Grant Program for Kentucky Home buyers in 2024

The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) offers grants of up to $25,000 for honorably discharged veterans, surviving spouses of military personnel, and active duty military homebuyers and up to $20,000 for all other homebuyers to assist with down payment and closing costs for income eligible homebuyers through the Welcome Home Program (WHP).

 

Kentucky Homebuyers must apply and qualify for a mortgage loan with one of our Member financial institutions to utilize the grant.

 

Who are Eligible Homebuyers in Kentucky for the Welcome Grant?

 

A  Kentucky  homebuyer would be eligible for the Welcome Home grant if all of the following guidelines are met:

 

 The total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located;
 A fully executed (signed by buyer and seller) purchase contract on an eligible property is in hand;
 The homebuyer has at least $500 of their own funds to contribute towards down payment and/or closing costs; and,
 If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory homebuyer counseling course is completed prior to the loan closing. Note: Applicants do not have to be first-time homebuyers.

 

What is an Eligible Property?

 

A property would be eligible if all of the following guidelines are met:

 The property will be the homebuyer’s primary residence;
 The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home. (Manufactured homes may be eligible if they are taxed as real estate and affixed to a permanent foundation); and,
 The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.

 

How Do I Apply?

 

For more program information, homebuyers should contact a FHLB Cincinnati Member financial institution.

 

A list of Members is available at👉 List of Kentucky Mortgage Lenders for the Welcome Grant Home Program for $20,000 for 2024 KY Homebuyers

 

Kentucky has many programs and grants for first-time home buyers with no money down home loans and down payment assistance programs for 2024

,see list below and let me know if you have any questions at 502-905-3708– call or text

or email me at kentuckyloan@gmail.com

 

LIST BELOW👇

 

• HUD Community Development Block Grants (CDBG) — Kentucky contacts: HUD provides grant money to communities and those funds may be used to assist home buyers
  • Ashland
  • Bowling Green
  • Elizabethtown
  • Hopkinsville
  • Lexington
  • Louisville
  • Owensboro
• HUD HOME Program — Kentucky contacts: HUD provides grant money to communities designated as participating jurisdictions for assisting home buyers, rental assistance, and other housing initiatives
• Community Ventures Corporation Kentucky Home Financing
• The Kentucky Housing Corporation offers:
  • Homeownership Programs
  • Counseling Resources
• Habitat for Humanity: Through volunteer labor and donations of money and materials, Habitat builds and rehabilitates simple, decent houses with the help of the homeowner (partner) families
• Federal Home Loan Bank of Cincinnati: Serves Kentucky residents by offering various home buying assistance programs, including Welcome Home grants. For more information, you may call 1 (888) 345-2246
• Kentucky Area Development Districts (ADDs): Contact your local ADD to find out more about local home buying assistance programs
• Kentucky Association for Community Action: Helps to fund housing programs for low-income residents
• Federal Appalachian Housing Enterprise (FAHE): Provides housing assistance in rural, low-income, Appalachian communities
• Housing Partnership, Inc.: Provides affordable housing services for residents of Jefferson County
• Secondary financing/down payment assistance programs are listed by state
• USDA Rural Development: Home buying loan programs that reduce the cost of homeownership for low and moderate-income families

2024 Welcome Home Grant Program for Kentucky Home Buyers $20,000

https://vimeo.com/910910021/766309e114?share=copy

 

https://vimeo.com/906852440/4e230ec9bf?share=copy

 

Ask your loan officer about these program

 

2024 Welcome Home Grant Program for Kentucky Home Buyers $20,000

 

 

Kentucky First Time Home Buyer Common Questions and Answers:

 

∘ 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 580 to 620 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 620 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 580 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  and Welcome Grants are all available to Kentucky First Time Home buyers if you qualify for them.

 

 

∘ 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 kind of 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 $500-$650 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.

 

Kentucky Welcome Home Grant 2024 Income Limits for the $20,000 Grant.

see below:👇 hit link for Welcome Home Grants Program 2024

2024 Kentucky Welcome Home Grant Income Limits

Use the 80% limits for the Welcome Home Program

Use the 100% limits for the Disaster Reconstruction Program

		100% limits		80% limits
	1-2 Persons		3 + Persons	1-2 Persons	3 + Persons
Adair	$               78,600		$               90,390	$             62,880	$               72,312
Allen	$               78,600		$               91,420	$             62,880	$               73,136
Anderson	$               86,270		$               99,210	$             69,016	$               79,368
Ballard	$               80,400		$               93,800	$             64,320	$               75,040
Barren	$               78,600		$               90,390	$             62,880	$               72,312
Bath	$               94,320		$             110,040	$             75,456	$               88,032
Bell	$               94,320		$             110,040	$             75,456	$               88,032
Boone	$             101,100		$             116,265	$             80,880	$               93,012
Bourbon	$               89,300		$             102,695	$             71,440	$               82,156
Boyd	$               83,040		$               96,880	$             66,432	$               77,504
Boyle	$               80,760		$               94,220	$             64,608	$               75,376
Bracken	$             101,100		$             116,265	$             80,880	$               93,012
Breathitt	$               94,320		$             110,040	$             75,456	$               88,032
Breckinridge	$               87,410		$             100,521	$             69,928	$               80,417
Bullitt	$               89,700		$             103,155	$             71,760	$               82,524
Butler	$               78,600		$               91,420	$             62,880	$               73,136
Caldwell	$               84,480		$               98,560	$             67,584	$               78,848
Calloway	$               82,560		$               96,320	$             66,048	$               77,056
Campbell	$             101,100		$             116,265	$             80,880	$               93,012
Carlisle	$               78,600		$               90,860	$             62,880	$               72,688
Carroll	$               78,600		$               90,390	$             62,880	$               72,312
Carter	$               94,320		$             110,040	$             75,456	$               88,032
Casey	$               94,320		$             110,040	$             75,456	$               88,032
Christian	$               87,590		$             100,728	$             70,072	$               80,582
Clark	$               89,300		$             102,695	$             71,440	$               82,156
Clay	$               94,320		$             110,040	$             75,456	$               88,032
Clinton	$               94,320		$             110,040	$             75,456	$               88,032
Crittenden	$               83,760		$               97,720	$             67,008	$               78,176
Cumberland	$               78,600		$               90,390	$             62,880	$               72,312
Daviess	$               86,950		$               99,992	$             69,560	$               79,994
Edmonson	$               86,650		$               99,647	$             69,320	$               79,718
Elliott	$               94,320		$             110,040	$             75,456	$               88,032

County	100% limits		80% limits
	1-2 Persons	3 + Persons	1-2 Persons	3 + Persons
Estill	$             94,320	$           110,040	$             75,456	$             88,032
Fayette	$             89,300	$           102,695	$             71,440	$             82,156
Fleming	$             78,600	$             90,390	$             62,880	$             72,312
Floyd	$             94,320	$           110,040	$             75,456	$             88,032
Franklin	$             85,430	$             98,244	$             68,344	$             78,595
Fulton	$             78,600	$             90,390	$             62,880	$             72,312
Gallatin	$           101,100	$           116,265	$             80,880	$             93,012
Garrard	$             87,210	$           100,291	$             69,768	$             80,233
Grant	$             79,560	$             92,820	$             63,648	$             74,256
Graves	$             83,160	$             97,020	$             66,528	$             77,616
Grayson	$             78,600	$             90,390	$             62,880	$             72,312
Green	$             78,600	$             90,390	$             62,880	$             72,312
Greenup	$             83,040	$             96,880	$             66,432	$             77,504
Hancock	$             86,950	$             99,992	$             69,560	$             79,994
Hardin	$             86,750	$             99,762	$             69,400	$             79,810
Harlan	$             94,320	$           110,040	$             75,456	$             88,032
Harrison	$             87,250	$           100,337	$             69,800	$             80,270
Hart	$             78,600	$             90,390	$             62,880	$             72,312
Henderson	$             87,300	$           100,395	$             69,840	$             80,316
Henry	$             89,700	$           103,155	$             71,760	$             82,524
Hickman	$             79,560	$             92,820	$             63,648	$             74,256
Hopkins	$             80,640	$             94,080	$             64,512	$             75,264
Jackson	$             94,320	$           110,040	$             75,456	$             88,032
Jefferson	$             89,700	$           103,155	$             71,760	$             82,524
Jessamine	$             89,300	$           102,695	$             71,440	$             82,156
Johnson	$             94,320	$           110,040	$             75,456	$             88,032
Kenton	$           101,100	$           116,265	$             80,880	$             93,012
Knott	$             94,320	$           110,040	$             75,456	$             88,032
Knox	$             94,320	$           110,040	$             75,456	$             88,032
Larue	$             86,750	$             99,762	$             69,400	$             79,810
Laurel	$             78,600	$             90,390	$             62,880	$             72,312
Lawrence	$             94,320	$           110,040	$             75,456	$             88,032
Lee	$             94,320	$           110,040	$             75,456	$             88,032
Leslie	$             94,320	$           110,040	$             75,456	$             88,032
Letcher	$             94,320	$           110,040	$             75,456	$             88,032
Lewis	$             94,320	$           110,040	$             75,456	$             88,032
Lincoln	$             78,600	$             90,390	$             62,880	$             72,312
Livingston	$             82,320	$             96,040	$             65,856	$             76,832
Logan	$             80,760	$             94,220	$             64,608	$             75,376
Lyon	$             87,310	$           100,406	$             69,848	$             80,325

County	100% limits		80% limits
	1-2 Persons	3 + Persons	1-2 Persons	3 + Persons
McCracken	$             87,130	$           100,199	$               69,704	$             80,159
McCreary	$             94,320	$           110,040	$               75,456	$             88,032
McLean	$             86,950	$               99,992	$             69,560	$             79,994
Madison	$             86,910	$               99,946	$             69,528	$             79,957
Magoffin	$             94,320	$           110,040	$               75,456	$             88,032
Marion	$               80,760	$               94,220	$             64,608	$             75,376
Marshall	$               86,030	$               98,934	$             68,824	$             79,147
Martin	$               94,320	$           110,040	$               75,456	$             88,032
Mason	$             85,920	$           100,240	$               68,736	$             80,192
Meade	$               85,790	$               98,658	$             68,632	$             78,926
Menifee	$               94,320	$           110,040	$               75,456	$             88,032
Mercer	$               86,730	$               99,739	$             69,384	$             79,791
Metcalfe	$               94,320	$           110,040	$               75,456	$             88,032
Monroe	$               78,600	$               90,390	$             62,880	$             72,312
Montgomery	$             78,600	$               91,140	$             62,880	$             72,912
Morgan	$               94,320	$           110,040	$               75,456	$             88,032
Muhlenberg	$             78,600	$               91,700	$             62,880	$             73,360
Nelson	$               85,170	$               97,945	$             68,136	$             78,356
Nicholas	$               78,600	$               90,860	$             62,880	$             72,688
Ohio	$               78,600	$               90,390	$             62,880	$             72,312
Oldham	$             89,700	$           103,155	$               71,760	$             82,524
Owen	$               78,600	$               91,700	$             62,880	$             73,360
Owsley	$               94,320	$           110,040	$               75,456	$             88,032
Pendleton	$           101,100	$           116,265	$               80,880	$             93,012
Perry	$               94,320	$           110,040	$               75,456	$             88,032
Pike	$               94,320	$           110,040	$               75,456	$             88,032
Powell	$               94,320	$           110,040	$               75,456	$             88,032
Pulaski	$             78,600	$               90,390	$             62,880	$             72,312
Robertson	$             94,320	$           110,040	$               75,456	$             88,032
Rockcastle	$             94,320	$           110,040	$               75,456	$             88,032
Rowan	$             94,320	$           110,040	$               75,456	$             88,032
Russell	$             78,600	$               90,860	$             62,880	$             72,688
Scott	$               89,300	$           102,695	$               71,440	$             82,156
Shelby	$               92,700	$           106,605	$               74,160	$             85,284
Simpson	$             82,920	$               96,740	$             66,336	$             77,392
Spencer	$               89,700	$           103,155	$               71,760	$             82,524
Taylor	$             78,600	$               90,390	$             62,880	$             72,312
Todd	$             78,600	$               90,390	$             62,880	$             72,312
Trigg	$               87,590	$           100,728	$               70,072	$             80,582
Trimble	$               86,770	$               99,785	$             69,416	$             79,828

County	100% limits		80% limits
	1-2 Persons	3 + Persons	1-2 Persons	3 + Persons
Union	$             78,600	$             91,420	$             62,880	$             73,136
Warren	$             86,650	$             99,647	$             69,320	$             79,718
Washington	$             87,090	$           100,153	$             69,672	$             80,122
Wayne	$             94,320	$           110,040	$             75,456	$             88,032
Webster	$             78,600	$             90,390	$             62,880	$             72,312
Whitley	$             94,320	$           110,040	$             75,456	$             88,032
Wolfe	$             94,320	$           110,040	$             75,456	$             88,032
Woodford	$             89,300	$           102,695	$             71,440	$             82,156

Joel Lobb  Mortgage Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364

Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

 

NMLS 57916  | Company NMLS #1364/MB73346135166/MBR1574

 

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NMLS ID# 57916, (www.nmlsconsumeraccess.org).