Tag: approved. VA Loan

Your Complete Guide to the Kentucky VA Loan for 2019

The Kentucky VA Loan isn’t just for active duty military. Check out this complete guide to see if you might be eligible to use the Kentucky VA Loan.

Source: Your Complete Guide to the VA Loan

Kentucky VA Mortgage Loan Approval Checklist
Kentucky VA Mortgage Loan Approval Checklist

https://media.tenor.com/videos/0ca1512f1f8afdcbb7a61669ff756563/mp4

You can find more information and how to prove your eligibility on the VA benefits website. The specific service requirements and time periods can be found here.

Unfortunately, the VA loan cannot be used for ANY type of purchase. Like many federally sponsored programs there are very specific requirements to what can be bought with a VA loan.

As defined by the VA, the loan can be used for five types of homes, all of which must be your personal home. The specific VA wording can be found here.

  1. Buy a home or condominium unit in a VA approved project.
  2. Build a Home.
  3. Simultaneously purchase and improve a home.
  4. Improve a home by installing energy-related features or making energy efficient improvements.
  5. Buy a manufactured home and/or lot.

Multi-plex for a VA loan – The VA allows you to buy a single family, duplex (2 units), triplex (3 units) and a quadplex (4 units). The key is that you have to live in one unit, however, you are still allowed to rent the other unit(s) out.

Eligibility for a VA loan
Once you know that you qualify, the next step is to figure out your eligibility. Unfortunately, it’s not as simple as it sounds because it’s based on your location. The lowest total amount is $484,350 for a single family. All the numbers after that are based on location and the number of times the loan has been used. The VA location list to check eligibility can be found here.

Multiple VA Loans
The great thing about the new VA rules is not only are you given a set amount, but you can buy as many houses under the amount of the last local place. You entitlement includes the purchase price AND the funding fee (described below) of your location.

This is the Equation: Current Location Entitlement – Previous Entitlement(s) if you have multiple (Funding Fee included) = amount you have left.

So just because you are “out” in one location in regards to your VA loan eligibility, does not mean you should not have your mortgage broker check your eligibility in the next place you go. It never hurts to ask, you could be missing out on an opportunity!

Financing Above Your VA Loan
The VA loan does allow you to finance above your VA loan amount. The key thing to note is anything above the VA funding amount requires a down payment of 25%. So if you go above your funding amount by 10,000 you will now owe a down payment of $2,500.

VA Funding Fee
The VA funding is the only downside to the VA loan and using it for multiple loans. The VA loan charges a funding fee for all their loans. The rates depends on a couple of different variables so certainly look at this chart to figure out your funding fee.

Waiving of the Funding Fee
If you have a VA disability rating then you should definitely check out this article. I explain all the regulations and how all those fees/other expenses could be waived.

The VA loan is truly an amazing loan. There are so many nuances and great benefits. I highly recommend you find a great mortgage broker who can walk you through all the different possibilities. Did I miss anything regarding the VA loan? What has been your experience?

 

 
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/
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

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#57916http://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.

Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
 
American Mortgage Solutions, Inc.
 

Text/call:      502-905-3708

fax:            502-327-9119
email:
          kentuckyloan@gmail.com
 
 

 

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Louisville Kentucky VA Approved Condos for Jefferson County KY 2013

Louisville Kentucky VA Approved Condos for Jefferson County KY 2012
 Joel Lobb (NMLS#57916) Senior  Loan Officer 502-905-3708 cell 502-813-2795 fax jlobb@keyfinllc.com  Key Financial Mortgage Co. (NMLS #1800)* 107 South Hurstbourne Parkway* Louisville, KY 40222* http://mylouisvillekentuckymortgage.com
Your search returned 87 records.
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Condo Name ID Record Type
ANDERSON PARK CONDOMINIUM 000004 Condo
ARBOR CREEK CONDOMINIUMS H00212 Condo
ARBOR CREEK CONDOS II H00306 Condo
AUTUMN TRACE CONDOMINIUM H00282 Condo
BAXTER PLACE CONDOMINIUMS H00309 Condo
BRADFORD COMMONS CONDO H00319 Condo
BRADFORD COMMONS CONDOS 000001 Condo
BRITTANY POINTE CONDOMINI 005775 Condo
BROWNSBORO VILLAGE COURT H00398 Condo
CARRINGTON GREENE COURTYARD 000012 Condo
CHAMBERLAIN SQUARE CONDO H00614 Condo
COPPERSHIRE CONDOMINIUM 005613 Condo
COTTONWOOD CONDOMINIUM H00053 Condo
CREEKWOOD TERRACE H00095 Condo
CRESCENT CONDOS VAC028 Condo
CROSSINGS @ COOPER CHAPEL H00155 Condo
DARNELL MANOR CONDOMINIUM H00368 Condo
DONARD PARK CONDOMINIUMS 000003 Condo
DORSEY HILLS CONDOMINIUM H00199 Condo
DORSEY VILLAGE 005601 Condo
EAST HAMPTON H00693 Condo
EVERETT PLACE CONDOMINIUM 005724 Condo
EVERGREEN POINT CONDO H00637 Condo
FOREST PARK CONDOS H00096 Condo
FOX HOLLOW CONDOMINIUM H00634 Condo
GARDENS AT BAY RUN CONDO H00639 Condo
GLENVIEW EAST 005674 Condo
GRAYSTONE MANOR H00070 Condo
HARRODS LANDING CONDOMINI H00464 Condo
HAWTHORNE POINTE CONDOS H00134 Condo
HIGHWOOD H00211 Condo
HIKES PARK TOWNHOMES H00066 Condo
HITE AVENUE GARDENS 005801 Condo
INDIAN RIDGE CONDOMINIUMS H00358 Condo
LAKEVIEW VAC010 Condo
MAGNOLIA PLACE 005597 Condo
MANNER POINTE 000013 Condo
MERCANTILE GALLERY LOFTS 000015 Condo
MOSS CREEK CONDOMINIUM H00294 Condo
PARK CENTRAL VAC101 Condo
PARK LANE CONDOMINIUM H00179 Condo
PINNACLE GARDENS H00111 Condo
REGENCY THREE CONDOMINIUM 005892 Condo
RIVER POINTE PATIO HOMES CONDO 000017 Condo
SALEM SQUARE CONDOMINIUM H00067 Condo
SHELBY CROSSING CONDOMINI H00344 Condo
SHELBY CROSSING CONDOMINIUMS 000006 Condo
SOUTH HALL CONDOMINIUMS 005723 Condo
SPRING DRIVE CONDO 005656 Condo
SPRINGS OF GLENMARY H00217 Condo
SPRINGS OF GLENMARY VLLGE 005612 Condo
ST ANTHONY’S LANDING H00194 Condo
STONEHENGE CONDO 005602 Condo
SWAN POINTE CONDOMINIUMS H00586 Condo
THE CLIFF VIEW TERRACE CO H00587 Condo
THE COTTAGES @ MEADOWVIEW H00182 Condo
THE FOUNTAINS CONDOMINIUM H00171 Condo
THE GARDENS OF GLENMARY H00272 Condo
THE GARDENS OF MONTICELLO H00609 Condo
THE PARKVIEW CONDOMINIUMS H00258 Condo
THE VILLAGE @ WILDWOOD H00088 Condo
THE VILLAGE @INDIAN FALLS H00143 Condo
THE VILLAGE OF WHITE OAKS H00531 Condo
THE VILLAS OF STONY FARM H00288 Condo
THE WOODS OF CRESCENT HIL H00031 Condo
THE WOODS OF CRESCENT HIL H00030 Condo
TIMBERWOOD II 000005 Condo
TREIS CONDOMINIUMS H00058 Condo
VALHALLA VISTA CONDOMINIUMS 000024 Condo
VALLEY FARMS PATIO HOMES 000021 Condo
VILLAGE AT PRESTON CROSSI H00504 Condo
VILLAGE AT WILDWOOD H00125 Condo
WEMBERLY HILL GARDEN HOME VAC143 Condo
WESTPORT GARDENS 000008 Condo
WESTPORT RIDGE CONDO H00629 Condo
WINDSOR GATE CONDOMINIUM H00262 Condo
WISTERIA LANDING CONDO H00535 Condo
WOODMONT H00156 Condo
WOODRIDGE LAKE PATIO HMS H00092 Condo
WOODRIDGE LAKE TOWNHOMES H00093 Condo
WOODS OF ST. ANDREWS H00139 Condo
WOODSPOINTE VAC074 Condo
WORTHINGTON GLEN CONDOS H00162 Condo
WYNDEMERE H00213 Condo
WYSTERIA LANDING CONDOMIN H00351 Condo
YORKWOOD CONDO I VAC013 Condo
YORKWOOD CONDO II VAC016 Condo
 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*