Kentucky Manufactured Home Loans for Doublewide Mobile Homes for FHA, VA, USDA, KHC and Fannie Mae


 

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Kentucky Manufactured Home Loans for Doublewide Mobile Homes
Now Available 


Mortgage is excited to announce a wide variety of Kentucky Manufactured Housing finance options for your borrowers ranging across for Kentucky  FHA, VA, USDA, Fannie Mae and Freddie Mac loans. 

Government (USDA / VA / FHA KHC) Conventional (Fannie / Freddie) KHC

  • Minimum FICO 620
  • 30 year fixed rate
  • Double-wide or wider manufactured homes
  • Zero Down Payment
  • Minimum FICO 660
  • 30yr fixed rate
  • Double-wide or wider manufactured homes
  • 0 down payment required

 

http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Equal Opportunity Lender. NMLS#57916 http://www.nmlsconsumeraccess.org/
 
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

 

 

 

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


 

escrowsholdbacks

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 to closing, among others.

Escrow holdbacks are used to facilitate loan closings for properties that are ready for occupancy but that require minimal completion or repair per the appraisal. The buyer or seller is required to establish a cash escrow that will ensure the completion of the required repairs. The cash escrow will be 1.5 times the cost of the estimated repairs (non-HUD REO properties). The proceeds of the cash escrow are held in an escrow account  until the incomplete items or repair requirements are completed.

Upon completion of the repairs, a final inspection by the appraiser will be required to release funds. Therefore, a Change of Circumstance form to add the inspection fee must be submitted within within 3 days of notification of repair requirements.

 

Maximum Repair Escrow Amounts for Kentucky Mortgages: 

Kentucky Fannie Mae Loans:
The cost of completing improvements must not represent more than 10% of the “as completed” appraised value of the property.

Kentukcy FHA Loans:
There is no maximum amount to be held in escrow for the cost of repairs required by appraiser.

Kentucky FHA Loans: (HUD REO):
The maximum limit of cost of repairs for escrow holdback is $10,000, plus $1,000 contingency included in the loan amount.

Kentukcy VA Loans:
There is no maximum amount to be held in escrow for the cost of repairs required by appraiser.

Kentucky USDA Loans:
The maximum amount to be held in escrow for repairs required by appraiser cannot exceed $5,000.





Joel Lobb
Senior  Loan Officer
(NMLS#57916)
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.

Repair Escrows for a Kentucky USDA, FHA and VA Mortgage Loan

What is the difference between the Kentucky Freddie Mac Home Possible and the Fannie Mae Home Ready Loan Program?


Kentucky Home Possible  vs. Kentucky Home Ready Mortgage Loan

This easy to read chart gives you a side by side comparison of these products:

We are an approved Kentucky Fannie Mae   HomePath lender.

 

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Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
 Fax:     (502) 327-9119
 
 

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). We lend in the following states: Kentucky

Louisville Kentucky First Time Home Buyer Programs and Resources


Louisville Kentucky First Time Home Buyer Programs and Resources.

via Louisville Kentucky First Time Home Buyer Programs and Resources.

 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
 
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 

Joel Lobb - Mortgage Broker or Lender at Kentucky FHA, VA, USDA, KHC and  First Time H

Kentucky Fannie Mae HomePath Mortgage Loan


Kentucky Fannie Mae HomePath Mortgage Loan.

via Kentucky Fannie Mae HomePath Mortgage Loan.

 Fannie Mae Homepath , ,,.

Joel Lobb  Senior  Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 phone: (502) 905-3708
 Fax:     (502) 327-9119
 Company ID #1364 | MB73346

Current Guidelines for Louisville Kentucky Mortgage programs including FHA, VA, KHC, USDA, and Fannie Mae Home Loans in the State of Kentucky

Getting Started – Freddie Mac


Getting Started – Freddie Mac.

Getting Started

Getting Started

Mortgage rates are at 50-year lows, making buying a home more affordable than ever for families with a stable income and good credit.

Many eligible borrowers are not taking advantage of the opportunities because of misinformation about getting a mortgage today. It’s important that you get the facts about buying a home in today’s market.

What You Will Need

In order to qualify in today’s market you will need:

  • A stable income
  • A good credit history
  • A downpayment– Generally, between 5-20 percent of the purchase price for a conventional, conforming mortgage.
  • Documentation– Responsible lenders today will want documentation verifying your income (W-2 forms, tax returns, employment), credit history and assets (such as bank statements to verify your savings).
  • An impartial third-party appraisal – Your lender needs this to verify the value of the house you want to purchase.

You will interact with various professionals during the homebuying process, all of whom are valuable resources and perform necessary roles.. 

First Steps to Take

Before you start shopping for your new home, you will want to:

  • Find out your current credit history and score. You don’t want to start out with any surprises.
  • Start gathering all of your documentation as outlined above.
  • Contact a HUD-approved housing counselor or other professional to help you develop a spending plan and determine how much you can afford.
  • Consult with your lender to review your income, expenses and financial goals to determine the typeand amount of mortgage you qualify for.
  • Talk to your lender about applying for a mortgage and getting a pre-approval letter. This letter provides an estimate of what you might be able to borrow – provided your financial status doesn’t change – and demonstrates to home sellers that you are a serious buyer.

There may be a few new rules in today’s market, but all the old ones still apply too. Do your research, reach out to the professionals, stick to your budget and be sure you are ready to take on the financial responsibilities of being a homeowner.