Talk to a Housing Counselor/U.S. Department of Housing and Urban Development (HUD) KENTUCKY

Talk to a Housing Counselor/U.S. Department of Housing and Urban Development (HUD).

Agencies located in KENTUCKY
Agency Name Phone, Toll-Free,
Fax Number,
Email, Website
Address Counseling Services Languages Parent Organization
KCEOC COMMUNITY ACTION PARTNERSHIP, INC. Phone: 606-546-3152
Fax: 606-546-5057
E-mail: jsmith@kceoc.com
Website: www.povertyisreal.org
5448 N US 25 E
BARBOURVILLE, Kentucky 40906-7604
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Financial, Budgeting and Credit Repair Workshops
– Home Improvement and Rehabilitation Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Rental Housing Workshops
– Resolving/Preventing Mortgage Delinquency Workshops
– Services for Homeless Counseling
– English
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com
1725 Ashley Circle, Ste 107
BOWLING GREEN, Kentucky 42104-5811
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
HOUSING ASSISTANCE AND DEVELOPMENT SERVICES, INC. Phone: 270-796-4176
Fax: 270-796-8203
E-mail: hands@handsinc.net
Website: www.handsinc.net
1133 Adams Street
BOWLING GREEN, Kentucky 42101-2603
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Financial, Budgeting and Credit Repair Workshops
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Rental Housing Workshops
– English
KENTUCKY LEGAL AID Phone: 270-782-1924
E-mail: N/A
Website: www.klaid.org
1700 Destiny Ln
Bowling Green, Kentucky 42104-1063
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– Spanish
WEST TENNESSEE LEGAL SERVICES, INCORPORATED
LIVE THE DREAM DEVELOPMENT, INC Phone: 270-843-6071-7124
Fax: 270-781-7091
E-mail: eholley@habg.org
247 Double Springs Road
BOWLING GREEN, Kentucky 42101-5160
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– English
CAMPBELLSVILLE HOUSING AND REDEVELOPMENT AUTHORITY Phone: 270-465-3576-236
Fax: 270-465-2444
E-mail: jhall@campbellsvillehousing.com
Website: www.cvillehousingonline.com
400 Ingram Ave
PO Box 597
CAMPBELLSVILLE, Kentucky 42718-1627
– Financial Management/Budget Counseling
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Rental Housing Counseling
– English
CATHOLIC CHARITIES, DIOCESE OF COVINGTON Phone: 859-581-8974-122
Fax: 859-581-9595
E-mail:panderson@covingtoncharities.org
Website: www.covingtoncharities.org
3629 Church St
Covington, Kentucky 41015-1430
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– Spanish
CATHOLIC CHARITIES USA
LEGAL AID OF THE BLUEGRASS Phone: 859-957-0189
Toll-free: 800-274-5863
Fax: 606-783-1342
E-mail: bcombs@lablaw.org
Website: www.lablaw.org
104 East 7th Street
COVINGTON, Kentucky 41011-2502
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– Spanish
WEST TENNESSEE LEGAL SERVICES, INCORPORATED
APPRISEN – ELIZABETHTOWN Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com/home.asp
950 North Mulberry
Suite 220F
ELIZABETHTOWN, Kentucky 42701-3612
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
APPRISEN – FLORENCE Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com/home.asp
7430 US 42, Suite 118
FLORENCE, Kentucky 41042-1991
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com
649 Charity Court
#15
FRANKFORT, Kentucky 40601-4223
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
KENTUCKY DOMESTIC VIOLENCE ASSOCIATION Phone: 502-209-5382-502
Toll-free: 502-209-5382
Fax: 502-226-5382
E-mail: modoherty@kdva.org
Website: kdva.org
111 Darby Shire Circle
FRANKFORT, Kentucky 40601-2741
– Pre-purchase Homebuyer Education Workshops – English KENTUCKY HOUSING CORPORATION
KENTUCKY HOUSING CORPORATION Phone: 502-564-7630-315
E-mail: jwilliamson@kyhousing.org
Website: www.kyhousing.org
1231 Louisville Rd.
FRANKFORT, Kentucky 40601-6156
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– English
– Spanish
LESLIE, KNOTT, LETCHER, PERRY COMMUNITY ACTION CENTER Phone: 606-436-3161-180
Toll-free: 800-401-4287
Fax: 606-439-1157
E-mail: a.thompson@lklp.net
Website: www.lklp.org
98 Roy Campbell
HAZARD, Kentucky 41701-9444
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– English KENTUCKY HOUSING CORPORATION
BARRET CENTER, INC Phone: 270-827-1486-114
Fax: 270-826-8673
E-mail: susangay@hahenderson.net
111 S Adams Street
HENDERSON, Kentucky 42420-3611
– Pre-purchase Homebuyer Education Workshops – English KENTUCKY HOUSING CORPORATION
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 866-452-9243
Fax: 270-782-5740
E-mail: scrocker@klaid.org
Website: www.klaid.org
1411 South Main Street
HOPKINSVILLE, Kentucky 42240-2017
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Rental Housing Counseling
– English
– Spanish
KENTUCKY LEGAL AID
APPRISEN – LEXINGTON Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com/home.asp
2265 Harrodsburg Road
Stuite. 303
LEXINGTON, Kentucky 40504-3500
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
COMMUNITY VENTURES CORPORATION Phone: 859-231-0054
E-mail: N/A
Website: site.notavailable.org
1450 N Broadway
Lexington, Kentucky 40505-3162
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Home Improvement and Rehabilitation Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– English
– Spanish
NEIGHBORHOOD REINVESTMENT CORPORATION
HOPE CENTER Phone: 859-225-4673
Fax: 859-225-0785
E-mail: jterry@hopectr.org
Website: www.hopectr.org
250 West Loudon
LEXINGTON, Kentucky 40508-1272
– Financial Management/Budget Counseling – English
REACH, INC. Phone: 859-455-8057
Fax: 859-455-7436
E-mail: dwasson@reachky.com
Website: www.reachky.com
733 Red Mile Rd
Lexington, Kentucky 40504-1153
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– English
– Spanish
ROAD TO HOMEOWNERSHIP, INC. Phone: 502-647-3027
Fax: 502-647-3099
E-mail:ybradford@theroadleadinghome.org
121 Prosterous Place Ste A
LEXINGTON, Kentucky 40509-1800
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com
2100 Gardiner Lane Ste 103A
LOUISVILLE, Kentucky 40205-2900
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com
11492 Bluegrass Parkway
Suite 110
LOUISVILLE, Kentucky 40299-2334
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
LEGAL AID SOCIETY, INC. Phone: 502-584-1254
Fax: 502-584-8014
E-mail: spope@laslou.org
416 West Muhammad Ali Blvd., Suite 300
LOUISVILLE, Kentucky 40202-3376
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– French
– Hindi
– Other
– Spanish
LOUISVILLE CENTRAL COMMUNITY CENTER Phone: 502-583-8821
Fax: 502-583-8824
E-mail: rclay@lcccnews.org
1300 W. Muhammad Ali Blvd
LOUISVILLE, Kentucky 40203-1744
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– English KENTUCKY HOUSING CORPORATION
LOUISVILLE URBAN LEAGUE Phone: 502-566-3362
Fax: 502-568-4663
E-mail: cmccravy@lul.org
Website: www.lul.org
1535 West Broadway
LOUISVILLE, Kentucky 40203-3515
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Financial, Budgeting and Credit Repair Workshops
– Home Improvement and Rehabilitation Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English NATIONAL URBAN LEAGUE
NID-HCA SICKLES Phone: 502-810-9200
E-mail: N/A
Website: www.nidonline.org
3215 Fern Valley Rd Ste 106
Louisville, Kentucky 40213-3563
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Home Improvement and Rehabilitation Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– Spanish
NATIONAL ASSOCIATION OF REAL ESTATE BROKERS-INVESTMENT DIVISION, INC
THE HOUSING PARTNERSHIP, INC Phone: 502-585-5451
E-mail: N/A
Website: www.wearehpi.org
321 Guthrie Grn
Louisville, Kentucky 40202-1813
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– English
– Spanish
HOUSING PARTNERSHIP NETWORK
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 800-782-1924
Fax: 270-825-0689
E-mail: scrocker@klaid.org
Website: www.klaid.org
100 South Railroad Street, # 120
MADISONVILLE, Kentucky 42431-2467
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Rental Housing Counseling
– English KENTUCKY LEGAL AID
DANIEL BOONE DEVELOPMENT COUNCIL Phone: 606-598-5127
Fax: 606-599-9712
E-mail:marthanna.dobson@danielboonecaa.org
Website: none
1535 Shamrock Road
MANCHESTER, Kentucky 40962-9201
– Pre-purchase Counseling – English KENTUCKY HOUSING CORPORATION
PURCHASE AREA HOUSING CORPORATION Phone: 270-247-7171
Fax: 270-251-6110
E-mail:David.Hargrove@purchaseadd.org
Website: www.purchaseadd.org
1002 Medical Dr
MAYFIELD, Kentucky 42066-1184
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
BRIGHTON CENTER, INCORPORATED Phone: 859-491-8303-2324
E-mail: brighton@brightoncenter.com
Website: brightoncenter.com
741 Central Avenue
NEWPORT, Kentucky 41071-1222
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Rental Housing Counseling
– English KENTUCKY HOUSING CORPORATION
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 866-452-9243
Fax: 270-683-3513
E-mail: jmorre@klaid.org
Website: www.klaid.org
117 West 2nd Street
OWENSBORO, Kentucky 42303-4112
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Rental Housing Counseling
– English
– Spanish
KENTUCKY LEGAL AID
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 866-452-9243
Fax: 270-782-5740
E-mail: jmorre@klaid.org
Website: www.klaid.org
1122 Jefferson Street
PADUCAH, Kentucky 42001-1836
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Rental Housing Counseling
– English
– Spanish
KENTUCKY LEGAL AID
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@cccservices.com
Website:www.cccservices.com/home.asp
317 Main Street
PIKEVILLE, Kentucky 41501-1135
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
BELL-WHITLEY COMMUNITY ACTION AGENCY, INC. Phone: 606-337-3044
Fax: 606-337-1439
E-mail: normancornelius@bell-whitley.org
Website: bell-whitley.org
129 Pine St.
PO Box 159
PINEVILLE, Kentucky 40977-1625
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– English KENTUCKY HOUSING CORPORATION
APPALACHIAN RESEARCH AND DEFENSE FUND OF KENTUCKY Phone: 606-886-3876
Toll-free: 800-556-3876
Fax: 606-886-3704
E-mail: diancef@ardfky.org
Website: www.ardfky.org
120 North Front Avenue
PRESTONSBURG, Kentucky 41653-7832
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– Spanish
WEST TENNESSEE LEGAL SERVICES, INCORPORATED
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@cccservices.com
Website: www.cccservices.com
200 E Main St 2nd Floor
RICHMOND, Kentucky 40475-1628
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– English APPRISEN – CCCS OF CENTRAL OHIO, INC.
HAZEL JOYCE WILEY CAREER AND FINANCIAL LITERACY INSTITUTE, INC Phone: 502-647-3072
Fax: 502-647-3099
E-mail: hjwfinancial@bellsouth.net
Website: www.hjwfinancial.org
330 Main Street
SHELBYVILLE, Kentucky 40065-1026
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Home Improvement and Rehabilitation Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Services for Homeless Counseling
– English
– Spanish
NATIONAL COMMUNITY REINVESTMENT COALITION, INC.
POTENTIALS INC Phone: 606-416-5711
E-mail:potentials.scarlette@newwavecomm.net
105 Burdine Street
SOMERSET, Kentucky 42501-2311
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Rental Housing Counseling
– English KENTUCKY HOUSING CORPORATION
GATEWAY COMMUNITY SERVICE ORGANIZATION, INC Phone: 606-743-3133
Fax: 606-743-1130
E-mail: debbie.vannorman@gcscap.org
124 College Street
PO Box 367
WEST LIBERTY, Kentucky 41472-1115
– Financial Management/Budget Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– English KENTUCKY HOUSING CORPORATION

Part-time earnings may not count when seeking a mortgage

Part-time earnings may not count when seeking a mortgage.

via Part-time earnings may not count when seeking a mortgage.

What You Need To Know About A Mortgage… BEFORE You Get One!!!

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What You Need To Know About A Mortgage… BEFORE You Get One!!!.

via What You Need To Know About A Mortgage… BEFORE You Get One!!!.

In today’s market, VA home loans outrank all other financing options

In today’s market, VA home loans outrank all other financing options.

via In today’s market, VA home loans outrank all other financing options.

A Complete Guide to Closing Costs

A Complete Guide to Closing Costs.

via A Complete Guide to Closing Costs.

Louisville Kentucky Mortgage Rates

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Louisville Kentucky VA Home Mortgage for 2013

Kentucky VA Loan Guidelines

Kentucky VA Loan Guidelines

VA Loan Credit Issues

VA will analyze a borrower’s past credit performance in determining the loan for approval. A borrower who has made timely payments for the last 12 months serves as a guide and demonstrates their willingness to repay future credit obligations. On the opposite side, a borrower who reflects continuous slow payments, judgments and delinquent accounts is not a good candidate for loan approval.
Below is a list of items concerning the borrower’s credit:

LATE MORTGAGE PAYMENTS

In circumstances not involving bankruptcy, satisfactory credit is generally considered to be reestablished after the veteran, or veteran and spouse, have made satisfactory payments for 12 months after the date of the last derogatory credit item(s).
When the underwriter analyzes the borrowers credit; it is the overall pattern of credit behavior that must be reviewed, rather than isolated cases of slow payments. A period of financial difficulty does not disqualify the borrower if a good payment pattern has been maintained since then.
Account balances reduced to judgment by a court must either be paid in full or subject to a repayment plan with a history of timely payments.

NO CREDIT HISTORY

In the area of credit, the lack of an established credit history should not be a deterrent to loan approval. As provided in the credit standards, a satisfactory payment history on items such as rent, utilities, phone bills, etc., may be used to establish a satisfactory credit history.

CHAPTER 7 BANKRUPTCY

The Kentucky VA guidelines state that a minimum of two years must elapse since the discharge date of the borrower and / or spouse’s Chapter 7 bankruptcy, not the filing date. A full explanation of the bankruptcy will be required. The borrower must also have re-established good credit, qualify financially and have good job stability.

CHAPTER 13 BANKRUPTCY

The Kentucky VA guidelines state that they will consider a borrower still paying on a Chapter 13 Bankruptcy if the payments to the court have been satisfactorily made and verified for a period of one year. In addition, the court trustee will need to give written approval to proceed. A full explanation of the bankruptcy will be required. The borrower must also have re-established good credit, qualify financially and have good job stability.

COLLECTIONS, JUDGEMENTS AND FEDERAL DEBTS

The Kentucky VA guidelines state that if a collection is minor in nature, it usually does not need to be paid off as a condition for loan approval. Judgments must be paid in full prior to closing. A borrower is not eligible for the loan if they are delinquent on any federal debt. This can include tax liens, student loans, etc. Payment arrangements that would bring the borrower up to date may be considered for loan approval.

FORECLOSURE

A borrower whose previous residence or other real property was foreclosed on or given a deed-in-lieu of foreclosure within the previous two years since the disposition date is generally not eligible for a VA insured mortgage. If the foreclosure was on a Kentucky VA loan, the applicant may not have full entitlement available for the new loan.

CONSUMER CREDIT COUNSELING PLAN

If a veteran, or veteran and spouse, have prior adverse credit and are participating in a Consumer Credit Counseling Plan, they may be determined to be a satisfactory credit risk if they demonstrate 12 months’ satisfactory payments and the counseling agency approves the new credit

Louisville Kentucky Mortgage Rates

Louisville Kentucky Mortgage Rates.

via Louisville Kentucky Mortgage Rates.

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*

I came across this and thought you would find this valuable in attaining your long term, future financial goals! Please call us with questions…we are sure to get you the answers you need!

I came across this and thought you would find this valuable in attaining your long term, future financial goals! Please call us with questions…we are sure to get you the answers you need!.

via I came across this and thought you would find this valuable in attaining your long term, future financial goals! Please call us with questions…we are sure to get you the answers you need!.

Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial.

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Compensating Factors to over turn a Kentucky VA Loan Mortgage Denial

Compensating factors may affect the loan decision for a Kentucky VA Mortgage.  These factors are especially important when reviewing loans which are marginal with respect to residual income or debt-to-income ratio.  They cannot be used to compensate for unsatisfactory credit.
Valid compensating factors to over turn a Kentucky VA Mortgage loandenial should represent unusual strengths rather than mere satisfaction of basic program requirements.  For example, the fact that an applicant has sufficient assets for closing purposes, or meets the residual income guideline, is not a compensating factor.
Valid compensating factors should logically be able to compensate (to some extent) for the identified weakness in the loan.  For example, significant liquid assets may compensate for a residual income shortfall whereas long-term employment would not.

Compensating factors include, but are not limited to the following:

 

·   excellent credit history,

·   conservative use of consumer credit,

·   minimal consumer debt,

·   long-term employment,

·   significant liquid assets,

·   sizable downpayment,

·   the existence of equity in refinancing loans,

·   little or no increase in shelter expense,

·   military benefits,

·   satisfactory homeownership experience,

·   high residual income,

·   low debt-to-income ratio,

·   tax credits for child care, and

·   tax benefits of home ownership.

If you looking to get approved for a Kentucky VA Mortgage, give us a call today. We can go down to 640 credit scores for VA loans in Kentucky, and the maximum debt to income ratio on some cases can go as high as 50% with the above compensating factors.

 

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*

Kentucky First Time Home Buyer Grants and Loan Programs

Kentucky First Time Home Buyer Grants and Loan Programs.

via Kentucky First Time Home Buyer Grants and Loan Programs.

2012 Louisville, Ky BAH Rates Basic Allowance for Housing in Kentucky

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2012 Louisville, Ky BAH Rates Basic Allowance for Housing: MHA: KY109 – LOUISVILLE Make your financial plans carefully when factoring in BAH as a contributing source of income for your house payment. Remember, BAH is calculated on local rents. Mortgage amounts are not used to compute Basic Allowance for Housing. You may be able to offset some or all of your monthly mortgage payments using BAH, but it’s not designed to do so.

Grade
With Dependents
Without Dependents
E1
$1020.00
$786.00
E2
$1020.00
$786.00
E3
$1020.00
$786.00
E4
$1020.00
$786.00
E5
$1110.00
$882.00
E6
$1287.00
$966.00
E7
$1416.00
$1062.00
E8
$1560.00
$1170.00
E9
$1722.00
$1290.00
W1
$1290.00
$987.00
W2
$1476.00
$1143.00
W3
$1650.00
$1293.00
W4
$1749.00
$1329.00
W5
$1866.00
$1449.00
O1E
$1446.00
$1110.00
O2E
$1626.00
$1218.00
O3E
$1767.00
$1326.00
O1
$1128.00
$930.00
O2
$1281.00
$1080.00
O3
$1644.00
$1296.00
O4
$1908.00
$1431.00
O5
$2097.00
$1572.00
O6
$2118.00
$1650.00
O7
$2139.00
$1683.00

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