Kentucky Home Buyers. Purchase a Home No Money Down.



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.

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

FHA Mortgage Requirements for Louisville Ky First Time Home Buyers


 FHA Mortgage Requirements for Louisville Ky First Time Home Buyers

         

Kentucky FHA home loans for Louisville Ky First Time Home Buyers . I would like to share some other information with you on this subject. Please click below to go to my Best Kentucky FHA Home Loans page to read on the various kinds of Kentucky FHA Loans available to you  for Louisville Ky First Time Home Buyers

Rent vs Own Comparison

Rent
Own A Home
Program
None
FHA Buydown  30 Year Fixed
30 Year Fixed  No PMI
USDA  30 Yr Fixed
Purchase Price
$0
$150,000
$150,000
$150,000
Down Payment
0%
3.50%
5.00%
0%
Down Payment $
$0
$5,250
$7,500
$0
Total Loan Amount
$0
$147,283*
$142,500
$153,000**
Interest Rate/ Annual Percentage Rate
0%
2.25%/3.56%
3.75%/3.85%
3.25%/3.29%
Monthly Payment
$900
$563***
$660
$666
Taxes
$0
$125
$125
$125
Home Insurance
$0
$50
$50
$50
Mortgage Insurance
$0
$169
$0
$51
Total Payment
$900
$982
$910
$967
Tax Savings****
$0
$179
$182
$184
After-Tax Payment
$900
$824
$749
$804

*Includes 1.75% Financed Mortgage Insurance Premium **Includes 2.00% Financed Funding Fee ***Payment $563 for year one(2.25% rate)-$653 payment for years 2-30(3.25% rate) ****28% tax bracket-Please consult your tax advisor for tax implications. All programs and terms are subject to change without notice.