Tag Archives: va mortgage

Using Your Veterans Benefit to Buy a Home In Kentucky


Originally posted on Kentucky VA Mortgage Lender:
? ? ? Probably one of the most talked about GI benefits is the VA Home Loan. You’ve probably heard of it, but have you ever thought of it using it? Learn what it is & how can it help you here. Using Your Veterans Benefit to Buy…

Self-Employed Guidelines for Getting a Mortgage Approved In Kentucky


  Self Employed Income Guidelines for a Getting a Kentucky Government FHA, VA, USDA Mortgage Loan in Kentucky A borrower is considered self employed if they have 25% or more ownership in a business. Contract or 1099 employees are self employed borrowers. There are 4 types of self employed business structures: Sole Proprietorships Corporations Limited […]
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WHAT IS A Kentucky VA Mortgage LOAN?


Originally posted on Kentucky VA Mortgage Lender:
? What IS A Kentucky VA Mortgage LOAN? The U.S. Government created the VA loan the help those brave men and women who serve our country purchase a home. VA Loans are guaranteed by the U.S Department of Veteran Affairs. This program has many distinct advantages over traditional…

What does debt to income ratio mean for a Mortgage Loan Approval in Kentucky?


What is Debt to Income Ratio for a mortgage loan approval in Kentucky? If you are looking to purchase your first home in Kentucky,  A key term you will need to know about is your  “debt-to-income ratio,” which refers to the figure you get when you add up all your monthly debt payments and then […]
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Kentucky Home Buyers. Purchase a Home No Money Down.


         Kentucky Home Buyers Program Summary below use to purchase their first home.   Conventional Loan • At least 3%-5% down • Closing costs will vary on which rate you choose and the lender. Typically the higher the rate, the lesser closing costs due to the lender giving you a lender credit back […]
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What are the current student loan guidelines for a Kentucky FHA, VA, USDA and Fannie Mae Conventional Mortgage loan.


  Kentucky FHA Loan Guidelines for Student Loans: Must be included in the borrower’s liabilities regardless of the payment type or status. The payment amount must be either: ▪ The greater of: · 1% of the outstanding balance on the loan or · Monthly payment reported on the borrower’s credit report, or ▪ The servicer’s […]
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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 […]
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Acceptable Income and Job History for a Mortgage Loan Approval in Kentucky


Mortgage Underwriters must follow both DU and agency guidelines when it comes to documenting and calculating qualifying income for a loan transaction. Income guidelines may vary slightly depending on the loan program and the borrower’s employment profile. Below are some general tips for W2 income.      Documentation that may be required Paystub with year […]
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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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2017 Kentucky VA LOAN LIMITS


Originally posted on Louisville Kentucky Mortgage Loans:
December 6, 2016   2017 KENTUCKY VA LOAN LIMITS VA has announced loan limit changes for the year 2017. The base limit will be increased to $424,100 for 2017 for all Kentucky VA Home Loans.  This li… Source: 2017 Kentucky VA LOAN LIMITS