A Complete Guide to Closing Costs in Kentucky


Who  pays Closing costs in Kentucky?

How much is closing Costs in Kentucky?

A Complete Guide to Closing Costs.

closing costs in Kentucky
closing costs in Kentucky

 Complete Guide to Closing Costs in Kentucky

A Complete Guide to Closing Costs

Types of Closing Costs

Let’s talk briefly about the types of closing costs you might encounter and how much those costs tend to run. Understand that closing costs, especially tax-related costs, will vary widely depending on where you live. But some costs can be estimated based on national averages.
Also, you should know that with fluctuations in the real estate market, closing costs are also fluctuating. A 2012 US News article pointed out that closing costs dropped 7 percent over 2011-2012 to an average of about $3,754.
The drops are, in part, because of 2010 regulations that were put in place by the government to shield homebuyers from “closing cost sticker shock.” Now that lenders are better at estimating final closing costs, those costs are dropping naturally.
Still, the national average for closing costs is nearly $4,000, which isn’t pocket change for your average homebuyer. So where’s all that money going? Here are some of the closing costs you might have to pay, along with average costs, based on the Allstate Home Buyers Closing Cost Worksheet.
  • Mortgage Application FeeThis fee varies from lender to lender but usually is $200-$400. You don’t have to pay this fee when you’re shopping around for a mortgage, but you’ll probably pay it when your chosen lender is processing your application. Sometimes this fee is due ahead of closing.
  • Appraisal Fee: This fee can sometimes be paid by the seller but is normally paid by the buyer. Basically, the fee goes to a professional appraiser who will ensure that the bank isn’t lending you more money than a property is worth. It’ll cost $100-$400.
  • Building InspectionIf you need to hire a home, pest or other specialized inspector, you’ll have to pay the fee. Some lenders will require an inspection to make sure the property is in good condition. This fee runs $150-$400 on average.
  • Survey: This is a fee you’re likely to skip, though it’s required by commercial lenders. It is for a surveyor to check out the lot and the structures on it to ensure the boundaries are properly noted. It can cost $300-$450.
  • Legal FeesAlthough attorney fees will add extra to your bill, you may want to pay a professional to ensure that all the documentation for your home is in order. Some lenders will bring along their own attorney, but yours will ensure that your personal interests are protected. Legal fees can run $300-$600, depending on your attorney and what you’re requiring of him or her.
  • Title Search and Insurance: A title insurance company will ensure that the title to the home is free and clear — that no one else will have claims on it. Sometimes a title search is separate from title insurance and will cost $150-$200. Title insurance varies but is usually about 1 percent of the home price.
  • Private Mortgage Insurance (PMI): If you put less than 20 percent down on your home, you’ll likely have to pay PMI. The average PMI premium is 2.5 percent of the mortgage, though your premium will vary depending on the value of your home, your credit score and your down payment. If you need PMI, you’ll likely have to pay a portion of the premium at closing. (Note: If you’re getting an FHA, VA or RHS government-backed loan, you’ll pay something like PMI, but it will be paid to the guarantor.)
  • Homeowners InsuranceAll lenders will require that you carry homeowners insurance on a property as long as it’s mortgaged. Typically, you’ll have to pay the first year’s property insurance premium in advance. Sometimes you’ll pay the insurer directly, but other times you’ll pay at closing.
  • Prepaid Interest: This one can get a little complicated. Let’s say your mortgage payment is due on the 1st of every month, but you close on your new home on the 15th. If this is the case, the lender will calculate the interest you owe for those 15-16 days remaining in the month, and that interest payment will be due at closing. Sometimes the seller reimburses these costs, since it’s often in his or her best interest to close as soon as possible — before your first mortgage payment is due. These costs will depend on your mortgage amount, interest rate and the time between closing and your first payment coming due.
  • Points: Points are another form of prepaid interest, but they’re generally not required. You can pay, usually, from 0-4 points on your mortgage. One point equals 1 percent of the total mortgage principal. (If you’re taking out a $100,000 loan, a point is $1,000, for instance.) One point usually reduces your interest rate by 1/8 percent. If you choose to pay points (rather than increasing your down payment), you’ll do so at closing.
  • Escrow Fees: The majority of homeowners use an escrow system for paying real estate taxes, fire and flood insurance, homeowners insurance and PMI. The escrow account is held either by a third party or by your lender, depending on your circumstances, and it’s used to pay all of the annual or monthly premiums for these important homeownership-related items. When you close on your home, you’ll generally need to put around three months’ worth of escrowed fees in the account.
  • Realty Transfer Tax: The taxes you pay on transferring a property are similar to the taxes you pay when you buy a new (or new-to-you) vehicle. Taxes vary by your state and municipality.
  • Recording Fees: Your local government will have to record the purchase transaction of your new home, which will cost $40-$60, on average.
  • Prorated Expenses: Some of the lump-sum costs associated with your home — water bills, homeowner association fees, condominium fees, etc. — could be split between you and the seller during your transaction. If you buy a home midway through the year, for instance, you may need to pay 50 percent of these fees. These expenses will depend on when you buy your home and are often negotiable with the seller

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– See more at: http://www.doughroller.net/mortgages/a-complete-guide-to-closing-costs/#sthash.76LyGU4d.dpuf

Ways to Pay Closing Costs

There are several ways to pay closing costs. Start by getting a Good Faith Estimate and then figure out which option will work best for you.

Good Faith Estimate

According to the Federal Reserve, the Real Estate Settlement Procedures Act requires that a lender give you a “good faith estimate” of your closing costs within three business days of your submitting your loan application.
Basically, the Good Faith Estimate (GFE) is part of shopping around for a mortgage. Because different lenders will have different requirements, closing costs can vary widely. So before you choose a mortgage, carefully look over the GFE to find differences between lenders.
While federal regulations aiming for more transparency in home lending have made good faith estimates somewhat more accurate, you have to remember that it’s still an estimate.
Saving for closing costs is a “hope for the best, plan for the worst” situation. Try to figure out the most you’d have to pay in closing costs and be prepared to pay them (while still leaving some cash in reserves). But you should also find the best lender for your needs and reduce closing costs as much as possible.

Pay in cash

The easiest way to pay closing costs, of course, is cash. If you have enough money in savings to pay for your down payment and your closing costs and to have cash in reserves, this is often the best option.
Paying more closing costs keeps you from taking out a bigger loan and can save you money on mortgage interest, which may save you a fortune over the life of your loan.

Roll it into the mortgage

If you don’t have plenty of cash on hand, you can roll your closing costs into your mortgage. Because closing costs are generally a small amount of money compared with your overall mortgage, most lenders don’t mind rolling part or all of the closing costs into the loan.
However, you do have to be careful because rolling your closing costs into your mortgage may mean you can’t spend as much money on a house. For instance, if, based on your credit, your lender agrees to finance up to 90 percent of the value of a $150,000 home, they may not go over that loan-to-value ratio, even to roll in closing costs.
In this scenario, say you’ve agreed to put $15,000 (10 percent) down on a home worth $150,000. Your lender agrees to finance 90 percent of the home’s value, leaving a $135,000 mortgage. If you don’t have cash for the $5,000 in closing costs, you could ask the lender to roll that into your loan, making your mortgage $140,000.
But if the lender isn’t comfortable financing 95 percent of the home’s value (a very high loan-to-value ratio in the world of home lending), you may be out of luck. In this case, you might have to find a cheaper home so that you can pay a smaller down payment and have money left for closing costs.
One thing to note: many government-backed loans, like the FHA and VA loans, are set up specifically for first-time or lower-income home buyers, who often have trouble saving for a down payment and closing costs. Because of this, it’s common for these loans to roll closing costs into the mortgage and to finance even above 95 percent of the home’s value.

Ask the seller to pay some costs

This is easier to accomplish in a sluggish housing market, or any time the seller is ready to get out of the home ASAP. In some cases, the seller will take part of the closing costs out of the money they’re getting when they sell the home.
If you don’t have money to pay closing costs, this is a good way to save money without increasing your loan (and, thus, your monthly mortgage payments). And what’s the worst that can happen? The seller may just say no.

Ask the lender to pay closing costs

Sometimes a lender will pay your closing costs, even if they don’t roll them into your mortgage. For instance, your lender might just outright pay $4,000 toward your closing costs but then raise the interest rate on your loan by 0.25 percent or more. (They’re not in the habit of giving away free money, after all.)
You’ll need to make sure this doesn’t come back to bite you. Figure out how much that extra interest will cost you over the life of your loan, or at least the length of time you plan to be in the home, and see if this is a reasonable approach for you.

Borrow for your closing costs

Taking out a separate loan for a down payment is usually a no-no. Your main lender wants to be the only one to have a claim on your home if you should default.
However, you could take out an unsecured loan to cover closing costs. Just be careful here, as interest rates could really bite on a personal unsecured loan.

Find Out How Much to Expect in Closing Costs

That’s a lot of information, and, unfortunately, it doesn’t tell you exactly how much you’ll pay in closing costs. You may not know exact closing costs until you’re ready to close on your home, but you can get a good idea of these costs online by using these resources:
  • SmartClosing Calculator – This calculator from Zillow will calculate costs based on where you’re buying a home, so taxes and government fees will be added in. The calculator will also show you the total amount you can expect to pay in mortgage payments, including real estate taxes and homeowner’s insurance.
  • Federal Reserve Settlement Costs Worksheet – This worksheet is good for comparing potential mortgage. It lets you compare the closing costs for two loans.
  • How do closing costs impact my interest rate? – This calculator from Yahoo! Homes will show you how financing closing costs, as opposed to paying them in cash, will affect your mortgage’s interest rate.

 

Call or text me at 502-905-3708 or email me at kentuckyloan@gmail.com NMLS#57916 Kentucky Mortgage Loan Only!

Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
 
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
 
 

 

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.

Does bad debt, collections, or charge offs on credit report have to be paid off to get a VA loan approval in Kentucky


Collections on Credit Report and How They affect a Kentucky VA Mortgage Loan Approval
 
Collection accounts are accounts for a debt that have been submitted to a collection agency by the creditor generally due to nonpayment. Below are general tips and guidance on what DU will require when collection accounts are reporting on a borrower’s credit report.
 
Accounts that are reported as past due but not yet turned over to a collection agency must be brought current. These past due accounts are not considered collection accounts.
 
Kentucky VA Mortgage Loan Guidelines Below for Credit and Collections:
 
 
Any collection account required by DU (Automated  Underwriting System used by Mortgage Lenders) to be paid must be paid prior to or at closing.
Isolated collection account do not necessarily have to be paid off for loan approval.
Borrowers with a history of collection accounts should have re-established satisfactory credit in order to be considered a satisfactory credit risk.
Lenders/underwriters should review the complete credit history and use sound judgment to determine if collection account pose a credit risk to the borrower’s ability to repay the loan.

Use These Findings to Boost Your Credit Score for a VA Mortgage Loan Approval

Here are 3 tips on improving a low credit score for a VA mortgage Loan Approval:

Step 1: Get a line of credit

In order to establish credit history, you need to have a form of credit. The simplest way for you to begin will be to open a credit card. If your score is low or non-existent, then you’ll need to apply for a secured card or a store card.

  • Secured Card:  You’ll use your own money as collateral by putting down a deposit of a few hundred dollars with the bank. Typically, that amount will then be your credit limit. Once you prove you’re responsible, you can get back your deposit and upgrade to a regular credit card. [Read more here]

  • Store Card: People with a low credit score can often still get store cards because banks are more likely to approve users who apply through the store. The catch is that the interest rates are often very high if you can’t make your payments. [Read more here]

Step 2: Keep your utilization rate low

Utilization is the amount of your credit limit you spend each month. For example, if you have a $500 credit limit and spend $50 in a month, you’re utilization will be 10%. Your utilization is part of what determines your credit score.

Your goal should be to never exceed 30% of your credit limit. Ideally, you should be even lower than 30% because the lower your utilization rate, the better your score will be.

We recommend you make one small purchase (hello, pack of gum) a month to keep your utilization low and help increase your credit score at a faster rate.

Step 3: Pay in full, and on time, each month

The easiest way to prove you’re responsible is to only charge what you can afford. Never use your credit card to buy an item you won’t be able to pay off on time and in full each month.

Being late on your payments has a huge, negative impact on your credit score.

There is also no advantage to only paying the minimum amount due on your card. That will only result in you paying interest and does nothing to help your credit score. So just save yourself money and pay your entire bill.

Customer Reviews below:
👀👀👀👀😍😍😍😍👇👇👇👇👇
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
😍
betty parsons
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.
Like
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 .


I can answer your questions and usually get you pre-approved the same day. 


Call or Text me at 502-905-3708 with your mortgage questions.
Email Kentuckyloan@gmail.com












 
 

 

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


 
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). I lend in the following states: Kentucky

Does FHA require collections to be paid off for a borrower to be eligible for FHA financing?


 

 

Image result for fha guidelines on collection accounts

Does FHA require collections to be paid off for a borrower to be eligible for FHA financing?

A Collection Account refers to a Borrower’s loan or debt that has been submitted to a collection agency by a creditor.
If the credit reports used in the analysis show cumulative outstanding collection account balances of $2,000 or greater, the lender must:
•     verify that the debt is paid in full at the time of or prior to settlement using an acceptable source of funds;
•     verify that the Borrower has made payment arrangements with the creditor and include the monthly payment in the Borrower’s Debt-to-Income ratio (DTI); or
•      if a payment arrangement is not available, calculate the monthly payment using 5 percent of the outstanding balance of each collection and include the monthly payment in the Borrower’s DTI.Collection accounts of a non-borrowing spouse in a community property state must be included in the $2,000 cumulative balance and analyzed as part of the Borrower’s ability to pay all collection accounts, unless excluded by state law.   Unless the lender uses 5 percent of the outstanding balance, the lender must provide the following documentation:
•     evidence of payment in full, if paid prior to settlement;
•     the payoff statement, if paid at settlement; or
•     the payment arrangement with creditor, if not paid prior to or at settlement.For manually underwritten loans, the lender must determine if collection accounts were a result of:
•     the Borrower’s disregard for financial obligations;
•     the Borrower’s inability to manage debt; or
•     extenuating circumstances.

The lender must document reasons for approving a mortgage when the Borrower has any collection accounts. The Borrower must provide a letter of explanation, which is supported by documentation, for each outstanding collection account. The explanation and supporting documentation must be consistent with other credit information in the file.

For additional information see Handbook 4000.1 II.A.4.b.iv.(M); II.A.5.a.iii.(D), II.A.5.a.iv.(O)  at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh

http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
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. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  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.

Getting a Home Inspection In Louisville Kentucky- List of Home Inspectors Louisville, KY


A home inspector’s job consists of three main points:

Evaluate a property’s physical and structural condition
Identify items in need of repair or replacement
Assess the remaining useful life of major systems
It is a good idea for you, or your real estate agent, to be present during the inspection. This allows you to ask questions, better understand the reasons or causes of certain issues, and learn what you need to do to fix them. The inspector can also point out areas of potential trouble and offer maintenance tips that can be very useful in the future. You can expect an inspection to take 2-5 hours, or a little longer for an older home, and to cost $200-$500 depending on size.

Louisville Kentucky Home Inspections Things to Look for

Fill out my form!

Services Directory
Home Inspectors

A Best Home Inpection Inc.
Lonnie Combs
502-261-1443

A1 Quality Home Inspections
Jeff Branham
502-262-4527
jeff@a1homeinsp.com
http://www.a1homeinsp.com

AAA Professional Home Inspectors
Jack McNear
License # HI-4072
502-776-4663
aaa.phi.ky@gmail.com
phi-louisville.com

AAA Professional Home Inspectors
Jack McNear
License # HI-4072
502-776-4663
aaa.phi.ky@gmail.com
phi-louisville.com

ABI Home Services
Ben Hendricks
License # HI-3039
502-938-5190
ben@abihomeservices.com
abihomeservices.com

Ace Home Inspections
502-599-1815
Bob Oliver
License # HI-2047
ra.oliver@live.com
229 Eastern Wood Ct.
Louisville, KY 40243

Acuity Home Inspections, LLC
502-386-8588
Bill Boone
License # HI-4036
acuityhomeinspections@gmail.com

Affordable Home Inspection Today (AHIT)
James Burkhead
License # HI-3080
P – 502-741-9706
P – 502-741-9706
ahit@insightbb.com
burkheadshomespecialist.net

All Check Home Inspections, LLC
502-427-7055
Steve Smith
License # HI-3400
genegriffin@insightbb.com
9260 Storage Way
Louisville, KY 40291

Bear Home Inspections, LLC
502-417-7132
Dominick D’Urso
domdurso@kybhi.com
http://www.bearhomeinspections.com
License # BHIHNOo194756

B-Goff Home Inspectors
502-507-2197
Bradley A. Goff
License # HI-3970
brad@idesigndrafting.com
http://www.bgoffhomeinspections.com
License # BHIHNOo194756

Bluegrass Home Inspections
502-552-2101
Michael Wirth
License # HI-2043
bluegrass@iglou.com
107 Fenley Ave., #0-1
Louisville, KY 40207

Bluegrass Services
502-428-6361
James Tolliver
bluegrass.services@yahoo.com
PO Box 304
Mt Washington, KY 40047
http://www.bluegrassreo.com

Brian Gattenby Home Inspection, LLC
502-991-2706
brian@briangattenbyhomeinspection.com
http://www.briangattenbyhomeinspection.com
License #HI-4022

Butler Home Inspection, LLC
Simmie Butler
502-445-6913
simmiebo@gmail.com
http://www.butlerhomeinspections.net
License #HI-3170

Carney Home Inspection
859-481-1437
Daniel Carney
carneyinspection@gmail.com
http://carneyinspection.com

Cattan Inspections & Engineering
502-299-6572
Joseph Cattan
jcattan@insightbb.com
404 Watch Hill Lane
Louisville, KY 40245

Certainty Home Inspections
866-417-9591
William Troutman
william@certaintyinspections.com
PO Box 144
Salem, IN 47167

Commonwealth Home Inspections
502-635-2266
Kenny Martin
kendm1@aol.com
6427 Appleleaf Ln.
Sellersburg, IN 47172

Curtis Home Inspections
502-428-9629
Chris Curtis
catchchriscurtis@gmail.com
204 Grand Ave.
Shepherdsville, KY 40165

Eagle’s Eye Inspection Services
502-639-9896
George Skeeters – Inspector License No. 3186
george@eagleeyeinspect.com

East End Home Inspections, LLC
502-458-9690
Jim Breslin
License #HI-2481
eastendhome123@gmail.com
4321 Dannywood Road
Louisville, KY 40220

Elite Home Inspections, LLC
502-648-9294
Allan Davis
License # HI-2233
eyeinspecthomes@aol.com
PO Box 277
Greenville, IN 47124
http://www.elitehomeinspections.net

Folk Inspections
502-509-6272
Alex Folk
alex@folkinspections.com
9462 Brownsboro Rd. #158
Louisville, KY 40241

Garr Home Inspection, LLC
502-468-6510
Mark Garr
License # HI-2029
mgarr60@bellsouth.net
14510 Hearthside Court
Louisville, KY 40245

Greenlight Home Inspections, LLC
Member/Owner – Tony Ponte
Phone No. – 502-517-1248
Fax No. – 502-333-9755
ponte.tony@gmail.com
http://www.greenlighthomeinspections.com

Greg Jones Home Inspections & Associates LLC
502-429-9379
Greg Jones
gregjoneshi@gmail.com
7321 New LaGrange Road, Ste 113
Louisville, KY 40222
http://www.gregjoneshomeinspections.com
Member(s) Sunny Jone, Billy Cooper

Haystack Inspection Services
License # HI-3180
Daniel Ayers
License # HI-4019
Daniel.Ayers6@gmail.com
2639 Kings Hwy
Louisville, KY 40205
502-528-9255
eric.hay@haystackinspections.com

Home Inspection, Inc.
502-897-5113
Ken Osborne
License # HI-2065
1025 Skyview Dr.
New Albany, IN 47150

Home Inspection of Kentuckiana
502-897-1450
Mary Anne Tonini
License # HI-2034
toninima@insightbb.com
PO Box 1564
New Albany, IN 47151

Home Inspections Services, LLC
502-423-7575
Jean Filer-Smith
License # HI-3642
jeans@hiswebsite.org
102 Daventry Lane #8
Louisville, KY 40223
Member(s) Douglas Smith

HomeMD Inspection Services LLC
502-290-3935
Robb Johnson and Sharon Johnson
License # HI-2225
rjohnson@homemd.com
http://www.homemd.com

Home Sweet Home Inspections, LLC
502-509-1878
Rich Fisher
License # HI-3963
rjohnson@homemd.com
1919 Rutherford Ave.
Louisville, KY 40205
http://www.homemd.com

Home Team Inspection Service
502-357-0813
Brian O’Rear
License # HI-3024
louisville@hometeam.com
3505 Hedgewick Place
Louisville, KY 40245
Mike Dryer
License # HI-3137
hometeam-louisville.com

HomeWerx
502-303-1782
Matthew Loeser
homewerxlouisville@gmail.com
5 Maple Court
Louisville, KY 40214

HomeWise Inspection Services
502-408-9007
Giles Lanham
gileslanham@insightbb.com
3000 Piedmont Drive
Louisville, KY 40205

House Master Home Inspection
502-423-7789
David Scott
License # HI-2164
david.scott@housemaster.com
8806 Swan Hill Road
Louisville, KY 40241
http://www.housemaster.com

Inspect & Detect, LLC
Eric Smith
License # HI-4025
12417 Aquarius Road
Louisville, KY 40243
http://www.inspectanddetect.com
502-653-9924
eric@inspectanddetect.com

InspectHomes4u, LLC
502-894-8644
Ms. Lorri Keeney
License #HI-2055
inspecthomes4u@aol.com
5208 Moccasin Trail
Louisville, KY 40207-1634

Inspections Plus
502-664-0237
Bill Beasey
bbeasy@housemaster.com

JM Home Inspections
Joe Mooney
2702 Trumpetvine Rd.
Louisville, KY 40220
http://jmhiky.com
502-533-9362
joe@jmhiky.com

KPC Inspections, LLC
502-653-3688
Danny Willoughby
License #HI-3014
kpcinspections@hotmal.com
http://www.kpcinspections.com

Kentuckiana Building Solutions
502-600-2210
Eric D. Gentry
ericd.gentry@gmail.com

Lee’s Home Inspections
502-376-0856
Lee Wiard
License #HI-2230
lwiard@bellsouth.net
501 Palisades Court
Louisville, KY 40223

M Squared Home Inspections
Mike Meurer
2040 Fox Tail Dr.
LaGrange, KY 40031
http://www.msquaredhi.com
502-909-7126
mike@msquaredhi.com

Mark Hunter Home Inspector
Mark Hunter
8313 Pine Grove Ct.
Louisville, KY 40214
502-744-1967
mark.hunter67@twc.com

Mark Oerther Associates, Inc.
502-459-1446
Mark Oerther
License # HI-2045
moerther@att.net
markoetherinspector@gmail.com
http://www.markoertherassociates.com
2021 Tyler Lane
Louisville, KY 40205

National Property Inspections
John Gazerro
1118 Beechwood Circle
Mt. Washington, KY 40047
502-599-1901
john.gazerro@npiinspect.com

Northstar Property Inspections
Stephen Williams
11304 Vista Greens Dr.
Louisville, KY 40241
https://www.northstarinspections.com
502-377-4126
steve.williams@northstarinspection.com

On Your Side Home Inspections
Dale Miller
2041 Bashford Manor Lane
LaGrange, KY 40018
http://www.onyoursidehomeinspections.com
502-439-1148
onyoursidehomeinspections@gmail.com

Pillar to Post
502-228-9880
John O’Nan
License #HI-2076
jonan@ptphome.com
P.O. Box 97
Goshen, KY 40026

Prochek Home Inspections, LLC
502-802-6336
Darryl Willoughby
License #HI-2038
darryl@procheklou.com
8404 McKenna Way
Louisville, KY 40291

Proven Home Inspection Service
502-689-0221
Neil DeGaris
HI-4027
provenhomeinspection@gmail.com
http://www.provenhomeinspectionservice.com

Ray Williams Inspect & Repair
502-459-9968
rfwill01@louisville.edu
Ray Williams
License # HI-2498
2725 Sheila Drive
Louisville, KY 40220
http://www.rwHomeInspection.com

Rayhill Home Inspectors
Joe Rayhill
214 Buffalo Trail
Shepherdsville, KY 40165
http://rayhillhomeinspections.com
502-299-4106
joe@rayhillhomeinspectors.com

River City Home Inspections
502-338-4404
rhino502@twc.com
Ryan Olson
http://www.rivercityhomeinspections.net

Safe At Home Inspections, LLC
Jay Jackson
4005 Brookfield Ave.
Louisville, KY 40207
502-290-2837
jay@safeathomeinspectionsllc.com

Service USA Home Inspections / Radon Lady
502-895-6430
Ray Sandbek
License # HI-2022
serviceusa@rsandbek.win.net
318 Lanai Court
Louisville, KY 40245
Member(s), Sheila Heller: radonlady@yahoo.com

The Home Inspectors LLC
Scott Barbour
912 Brentwood Ct.
New Albany, IN 47150
502-773-3480
thehomeinspectors@hotmail.com

WIN Home Inspections
502-327-6231
Mike English
License # HI-2160
10213 Linn Station Road
Louisville, KY 40223

WIN Home Inspections
502-426-4635
Bob English
License # HI-2161
benglish@wini.com
10213 Linn Station Rd. #2
Louisville, KY 40223

Wright Choice Home Inspection
Nick Wright
1728 E. Spring St.
New Albany, IN 47150
http://yourwrightchoice.com
502.822.6484
nick@yourwrightchoice.com

Wrubel Home Inspections, LLC
812-945-7478
Joseph Wrubel
License # HI-2291
wrubelhomeinspections@yahoo.com
P.O. Box 1291
3626 St. Joseph Road
New Albany, IN 47150

Semonin Real Estate Blog

Home Inspector

The home buying process can seem like a lengthy one, but each step of the journey is important and should not be bypassed in effort of saving a little time or money. Sometimes it may seem as if a home inspection isn’t necessary, especially if a property appears to be in excellent condition. However, what you see in a house can be very deceiving. Buyers see a crack in a ceiling, immediately assume it is a big problem and get scared off, but a home inspector might say it is just cosmetic and can easily be covered up. A newly renovated home can seem flawless, so buyers opt out of getting a home inspection only to find out after closing that the home has major—meaning expensive—electrical or plumbing problems. Examples like these prove that home inspections are crucial to the home buying process.

A home inspector’s job consists of three…

View original post 254 more words

Kentucky Rural Housing USDA – Upcoming Changes – October 2016 Submit your applications beginning Tuesday, September 13, 2016


th

The USDA has announced exciting changes that will be implemented in October 2016. USDA is a great product that offers 100% financing, zero down payment for certain rural areas.

Effective in October 2016, there will be two big changes to the USDA product:

  • The Up Front Funding Fee will be reduced to 1%. It currently stands at 2.75%. This reduction can help to reduce the total loan amount. 
  • The Monthly PMI will be reduced to .35%. It currently stands at .50%. 

These two significant changes by the USDA program will certainly be welcomed and will help borrowers to obtain their dream home.

 

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.

 

 

Check out the Fannie Mae HomePath listings in Jefferson County Louisville, Kentucky for 2016


 

images (6)

 

Address Location Type Status Price Beds Baths
Previous Next
223 Middletown Sq
Louisville, KY
Single Family Just Listed $78,000 1 1 First Look Program
1663 Al Mara Cir
Louisville, KY
Single Family Just Listed $195,000 4 3 First Look Program
609 Logsdon Ct
Louisville, KY
Condo Just Listed $75,000 1 1 First Look Program
8206 Roland Ave
Louisville, KY
Single Family Just Listed $194,000 3 2.5 First Look Program
9831 Brooks Bend Rd
Louisville, KY
Single Family Price Reduced $149,000 3 2
5851 New Cut Rd
Louisville, KY
Single Family Price Reduced $109,900 4 2
603 Glen Ct
Louisville, KY
Single Family Price Reduced $349,000 4 3
3802 Vermont Ave
Louisville, KY
Single Family Active $19,900 2 1
8014 Woodbury Dr
Louisville, KY
Single Family Active $62,000 3 1
4905 Applegrove Ln
Louisville, KY
Single Family Active $88,500 3 1
4515 Hazelwood Ave
Louisville, KY
Single Family Active $36,000 3 1
516 Academy Ridge Pl
Louisville, KY
Single Family Active $395,000 5 4
3013 Linwood Ave
Louisville, KY
Single Family Active $16,500 2 1 First Look Program
4208 Wisteria Landing Cir Unit 203
Louisville, KY
Condo Active $59,500 1 1
8301 Atlanta Pkwy
Louisville, KY
Single Family Active $99,900 3 2
10610 Sycamore Ct
Louisville, KY
Condo Active $96,000 2 2
110 S Arbor Park
Louisville, KY
Single Family Active $59,000 2 1
6936 Norlynn Dr
Louisville, KY
Single Family Active $185,000 5 2 First Look Program
1219 Lipps Ln
Louisville, KY
Single Family Coming Soon 3 1
303 Harpers Ferry Rd
Louisville, KY
Single Family Coming Soon 3 1.5
7711 Bluebonnet Rd
Louisville, KY
Single Family Coming Soon 3 1
6714 Brook Bend Way
Louisville, KY
Single Family Under Contract $175,000 3 3
3707 Chatham Rd
Louisville, KY
Single Family Under Contract $135,000 3 2
3209 Welman Dr
Louisville, KY
Single Family Under Contract $89,900 3 3
5312 Georgia Ln
Louisville, KY
Single Family Under Contract $79,000 2 2
2015 Patricia Dr
Louisville, KY
Single Family Under Contract $127,000 3 1
13200 Bessels Blvd
Louisville, KY
Single Family Under Contract $144,000 3 3
5210 Plume Dr
Louisville, KY
Single Family Under Contract $132,900 3 2
2209 Osage Ave
Louisville, KY
Single Family Under Contract $27,500 3 2
131 N 38th St
Louisville, KY
Single Family Under Contract $19,000 3 2
4128 Hillview Ave
Louisville, KY
Single Family Under Contract $24,900 2 1
5203 Gathwright Dr
Louisville, KY
Single Family Under Contract $66,900 3 1.5
509 Christopher Pl
Louisville, KY
Single Family Under Contract $58,000 2 1
4303 Bayberry Dr
Louisville, KY
Single Family Under Contract $105,000 3 1
11909 Tazwell Dr Apt 2
Louisville, KY
Condo Under Contract $72,500 2 2
919 Loretto Ave
Louisville, KY
Single Family Under Contract $21,000 3 1
7502 Faxon Ct
Louisville, KY
Single Family Under Contract $66,000 3 2

I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance.
I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance.
 
Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
 Fax:     (502) 327-9119
 
 

 

Kentucky Fannie Mae Mortgage Guideline Changes for 2015


Fannie Mae Kentucky Conforming Guideline Changes

updates

The following guideline changes are effective immediately for all Kentucky Fannie MaeF Conventional loans; however DU will not be updated to reflect these changes until August 15th 2015

Conversion of Currently Primary Residence

Requirements for conversion of a borrower’s current primary residence to secondary or investment have been removed. The converted residence will be treated like a normal second home or investment part with regards to Reserve requirements and use of Rental Income.

This removes all requirements related to the requirement of 30% equity in the converted property.

Stocks, Bonds, & Mutual Funds

  • 100% of the value can now be used. No reduction in value is required.
  • Documentation that the funds have been liquidated is no longer required when the value of the asset is at least 20% greater than the required borrower funds for down payment and closing costs.

Unreimbursed Employee Expenses

If a borrower qualifies using commission income which accounts for less than 25% of borrower’s annual income, base pay, bonus income, or overtime income:

  • Unreimbursed expenses do not have to be analyzed, deducted from qualifying income, or added to monthly liabilities
  • Voluntary deductions (e.g. union dues) do not have to be deducted from income or treated as a liability

If a borrower qualifies using commission income which accounts for 25% or more of their annual income, general unreimbursed business expenses must be deducted from the gross commission income.

If the borrower reports an automobile allowance as part of monthly income, the related expense must always be considered. The underwriter will determine whether automobile expenses will be deducted from income or included in the debt calculation.

Tip Income

In cases where a borrower reports additional “Unreported Tip Income” to the IRS beyond what is reported by their employer, this higher amount of tip income can be used as long as it can be verified with the last 2 years tax returns and filed Forms 4137 (Social Security and Medicare Tax on Unreported Tip Income).