12 New Fannie Mae Homes in Kentucky

12 New Fannie Mae Homes in Kentucky

HomePath

Kentucky.

$179,900Just Listed

5613 Wooded Lake Dr
Louisville, KY 40299

3 Beds |3 Baths | 1278 sq. ft.

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$63,000Back on Market

1214 Reutlinger Ave
Louisville, KY 40204

1 Beds |1 Baths | 738 sq. ft.

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$119,900Price Reduced

8020 Us Highway 23 S
Pikeville, KY 41501

4 Beds |1 Baths | 3140 sq. ft.

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$24,900Price Reduced

895 Ellison Bend Rd
Williamsburg, KY 40769

3 Beds |1 Baths | 896 sq. ft.

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$63,000Active

541 Warnock St
Louisville, KY 40217

2 Beds |1 Baths | 876 sq. ft.

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$327,500Active

17310 Polo Fields Ln
Louisville, KY 40245

4 Beds |3 Baths | 2629 sq. ft.

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Coming Soon

727 Agawam Rd
Winchester, KY 40391

4 Beds |3 Baths | 2466 sq. ft.

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Coming Soon

1983 Cathy Ln
Lexington, KY 40511

3 Beds |1 Baths | 925 sq. ft.

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Coming Soon

2024 Woodmere Ct
Hebron, KY 41048

4 Beds |2.5 Baths | 2102 sq. ft.

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Coming Soon

783 S Shelby St
Louisville, KY 40203

4 Beds |1.5 Baths | 1887 sq. ft.

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Coming Soon

2793 Cappel Ct
Hebron, KY 41048

3 Beds |2 Baths | 1031 sq. ft.

The program is targeted to:
Households whose gross annual income does not exceed $35,000.
An existing or new construction property (purchase price limit $115,000).
640 minimum credit score.
FHA, VA or RHS first mortgage options.
Households who meet one of the following criteria:
At least one of the home buyers is age 62 or older.
At least one member of the household is disabled and is receiving disability income.
A single- or two-parent household with at least one dependent child under the age of 18 living in the household.
Borrowers with properties located in Non-targeted counties must be a first time homebuyer — no ownership interest in the last 3 years.
Borrowers with properties located in Targeted counties can be a repeat home buyer.
Loan Type
Rate without Down Payment Assistance
Rate with Down Payment Assistance
FHA, VA & RHS
2.00%
2.00%

RHS Streamlined-Assist Refinance Program
3.50%
.
RHS USDA Recent News
Good news! Kentucky Mortgage holders of USDA Mortgage loans can get  new drastically lower fees starts with commitments starting tomorrow October 1.  If you have an  USDA eligible Loan up to $417,000 with no money down in most Kentucky Counties.
If you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.


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 views of my employer. Not all products or services mentioned on this site may fit all people
 

Kentucky VA Loans

Kentucky VA Loans.

via Kentucky VA Loans.

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Kentucky VA Loans

What are KEntucky VA Home Loans?
VA Loans provide military veterans and current service members a distinct advantage when it comes time to purchase or refinance a home. Today’s VA Loans have the most favorable terms available for most veterans. VA Loans can be used to purchase a new home with no down payment with no mortgage insurance or refinance up to 90% of a homes current equity.

What are the eligibility requirements for a VA Loan in Kentucky?
Veterans Affairs loan guidelines use two methods of income qualification in Kentucky. The residual income method is the primary method, where it is determined that the borrower has sufficient income to cover daily living costs once housing, taxes, insurance and all other liabilities like credit card and auto payments have been made. Additionally, VA loans use a debt to income ratio (DTI). Using this ratio, the veteran’s total debt should not exceed 41% of the veteran’s total income. Most lenders will require at least a 620 credit score for a VA Loan approval.

How much can I borrow?
The maximum Kentucky VA Mortgage amount is determined by:

Maximum VA Loan in Kentucky: The largest loan allowed for Kentucky VA Mortgage   with zero down is $417,000 in KY. Please refer to the  Kentucky VA Mortgage  chart at the bottom of this page to see your area’s limit.

Maximum Finance: For purchase transactions, the Maximum VA Loan will be 100% of the lower of the selling price or the appraised value.

What will the down payment and closing costs be?
 Kentucky VA Mortgage  have zero money down up to $417,000 in most counties.

What property types are allowed for VA Loans in Kentucky?
VA Loans may be used to purchase or refinance single family residences and VA approved condo projects if the property is the veteran’s primary residence.

Can I do a VA refinance in Kentucky?
Three kinds of  Kentucky VA Mortgage programs are available for veterans in Kentucky.

. Rate/Term VA Refinance for Kentucky
The Rate/Term VA Refinance can be used to refinance a conventional, FHA or subprime mortgage into a stable, fixed rate VA Loan.

. VA Cash-Out Refinance
A Cash-Out VA Refinance is very beneficial for the veteran who wants to access the equity that they have built up in their home. VA Loans can be used to refinance up to 90% of a homes current value and take cash out for any reason.

Kentucky VA Loans

. Streamline Refinance
The VA Streamline Refinance is designed to lower the interest rate on a current VA mortgage or convert a current VA adjustable rate mortgage into a fixed rate. A VA Streamline Refinance Loan can be performed quickly and easily. It requires much less hassle and paperwork than a normal refinance including no appraisal, no qualifying debt ratios and no income verification.

How much can I refinance in Kentucky? 
The maximum amount for an KY VA loan is determined by:

. Maximum VA Loan in Kentucky: The largest loan allowed for a VA Mortgage varies from county to county. The highest maximum VA Mortgage right now is $1,094,625. The lowest maximum VA Mortgage amount available in any county is $417,000. To see what the limit is in the county in which you’re interested, visit the following page http://www.homeloans.va.gov/docs/2009_county_loan_limits.pdf. This site lists U.S. territories as well as states.

. Maximum Finance: In Kentucky, The maximum VA refinance loan amount will be 100% of the appraised value of the home for a rate/term refinance or 90% of the appraised value for a What factors determine if I am eligible for a VA Refinance Loan?
VA refinance loans use two methods for income qualification purposes in Kentucky. The residual income method is the primary method, where it is determined that the borrower has sufficient income to cover daily living costs once housing, taxes, insurance and all other liabilities like credit card and auto payments have been made. Additionally, VA loans use a debt to income ratio (DTI). Using this ratio, the veteran’s total debt should not exceed 41% of the veteran’s total income. Most lenders will require at least a 620 credit score for a VA Loan approval.

Kentucky VA Loans

Kentucky VA Loan Limits

Area
County Name
Maximum Single Family Mortgage
(No Money Down)
Maximum VA Jumbo
(0$ Down to 417k, 25% Down Above)
NON-METRO
ADAIR
417,000
1,094,625
NON-METRO
ALLEN
417,000
1,094,625
FRANKFORT, KY (MICRO)
ANDERSON
417,000
1,094,625
PADUCAH, KY-IL (MICRO)
BALLARD
417,000
1,094,625
GLASGOW, KY (MICRO)
BARREN
417,000
1,094,625
MOUNT STERLING, KY (MICRO)
BATH
417,000
1,094,625
MIDDLESBOROUGH, KY (MICRO)
BELL
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
BOONE
417,000
1,094,625
LEXINGTON-FAYETTE, KY (MSA)
BOURBON
417,000
1,094,625
HUNTINGTON-ASHLAND, WV-KY-OH (MSA)
BOYD
417,000
1,094,625
DANVILLE, KY (MICRO)
BOYLE
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
BRACKEN
417,000
1,094,625
NON-METRO
BREATHITT
417,000
1,094,625
NON-METRO
BRECKINRIDGE
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
BULLITT
417,000
1,094,625
NON-METRO
BUTLER
417,000
1,094,625
NON-METRO
CALDWELL
417,000
1,094,625
MURRAY, KY (MICRO)
CALLOWAY
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
CAMPBELL
417,000
1,094,625
NON-METRO
CARLISLE
417,000
1,094,625
NON-METRO
CARROLL
417,000
1,094,625
NON-METRO
CARTER
417,000
1,094,625
NON-METRO
CASEY
417,000
1,094,625
CLARKSVILLE, TN-KY (MSA)
CHRISTIAN
417,000
1,094,625
LEXINGTON-FAYETTE, KY (MSA)
CLARK
417,000
1,094,625
NON-METRO
CLAY
417,000
1,094,625
NON-METRO
CLINTON
417,000
1,094,625
NON-METRO
CRITTENDEN
417,000
1,094,625
NON-METRO
CUMBERLAND
417,000
1,094,625
OWENSBORO, KY (MSA)
DAVIESS
417,000
1,094,625
BOWLING GREEN, KY (MSA)
EDMONSON
417,000
1,094,625
NON-METRO
ELLIOTT
417,000
1,094,625
NON-METRO
ESTILL
417,000
1,094,625
LEXINGTON-FAYETTE, KY (MSA)
FAYETTE
417,000
1,094,625
NON-METRO
FLEMING
417,000
1,094,625
NON-METRO
FLOYD
417,000
1,094,625
FRANKFORT, KY (MICRO)
FRANKLIN
417,000
1,094,625
UNION CITY, TN-KY (MICRO)
FULTON
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
GALLATIN
417,000
1,094,625
NON-METRO
GARRARD
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
GRANT
417,000
1,094,625
MAYFIELD, KY (MICRO)
GRAVES
417,000
1,094,625
NON-METRO
GRAYSON
417,000
1,094,625
NON-METRO
GREEN
417,000
1,094,625
HUNTINGTON-ASHLAND, WV-KY-OH (MSA)
GREENUP
417,000
1,094,625
OWENSBORO, KY (MSA)
HANCOCK
417,000
1,094,625
ELIZABETHTOWN, KY (MSA)
HARDIN
417,000
1,094,625
NON-METRO
HARLAN
417,000
1,094,625
NON-METRO
HARRISON
417,000
1,094,625
NON-METRO
HART
417,000
1,094,625
EVANSVILLE, IN-KY (MSA)
HENDERSON
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
HENRY
417,000
1,094,625
NON-METRO
HICKMAN
417,000
1,094,625
MADISONVILLE, KY (MICRO)
HOPKINS
417,000
1,094,625
NON-METRO
JACKSON
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
JEFFERSON
417,000
1,094,625
LEXINGTON-FAYETTE, KY (MSA)
JESSAMINE
417,000
1,094,625
NON-METRO
JOHNSON
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
KENTON
417,000
1,094,625
NON-METRO
KNOTT
417,000
1,094,625
NON-METRO
KNOX
417,000
1,094,625
ELIZABETHTOWN, KY (MSA)
LARUE
417,000
1,094,625
LONDON, KY (MICRO)
LAUREL
417,000
1,094,625
NON-METRO
LAWRENCE
417,000
1,094,625
NON-METRO
LEE
417,000
1,094,625
NON-METRO
LESLIE
417,000
1,094,625
NON-METRO
LETCHER
417,000
1,094,625
MAYSVILLE, KY (MICRO)
LEWIS
417,000
1,094,625
DANVILLE, KY (MICRO)
LINCOLN
417,000
1,094,625
PADUCAH, KY-IL (MICRO)
LIVINGSTON
417,000
1,094,625
NON-METRO
LOGAN
417,000
1,094,625
NON-METRO
LYON
417,000
1,094,625
RICHMOND-BEREA, KY (MICRO)
MADISON
417,000
1,094,625
NON-METRO
MAGOFFIN
417,000
1,094,625
NON-METRO
MARION
417,000
1,094,625
NON-METRO
MARSHALL
417,000
1,094,625
NON-METRO
MARTIN
417,000
1,094,625
MAYSVILLE, KY (MICRO)
MASON
417,000
1,094,625
PADUCAH, KY-IL (MICRO)
MCCRACKEN
417,000
1,094,625
NON-METRO
MCCREARY
417,000
1,094,625
OWENSBORO, KY (MSA)
MCLEAN
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
MEADE
417,000
1,094,625
MOUNT STERLING, KY (MICRO)
MENIFEE
417,000
1,094,625
NON-METRO
MERCER
417,000
1,094,625
GLASGOW, KY (MICRO)
METCALFE
417,000
1,094,625
NON-METRO
MONROE
417,000
1,094,625
MOUNT STERLING, KY (MICRO)
MONTGOMERY
417,000
1,094,625
NON-METRO
MORGAN
417,000
1,094,625
CENTRAL CITY, KY (MICRO)
MUHLENBERG
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
NELSON
417,000
1,094,625
NON-METRO
NICHOLAS
417,000
1,094,625
NON-METRO
OHIO
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
OLDHAM
417,000
1,094,625
NON-METRO
OWEN
417,000
1,094,625
NON-METRO
OWSLEY
417,000
1,094,625
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA)
PENDLETON
417,000
1,094,625
NON-METRO
PERRY
417,000
1,094,625
NON-METRO
PIKE
417,000
1,094,625
NON-METRO
POWELL
417,000
1,094,625
SOMERSET, KY (MICRO)
PULASKI
417,000
1,094,625
NON-METRO
ROBERTSON
417,000
1,094,625
RICHMOND-BEREA, KY (MICRO)
ROCKCASTLE
417,000
1,094,625
NON-METRO
ROWAN
417,000
1,094,625
NON-METRO
RUSSELL
417,000
1,094,625
LEXINGTON-FAYETTE, KY (MSA)
SCOTT
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
SHELBY
417,000
1,094,625
NON-METRO
SIMPSON
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
SPENCER
417,000
1,094,625
CAMPBELLSVILLE, KY (MICRO)
TAYLOR
417,000
1,094,625
NON-METRO
TODD
417,000
1,094,625
CLARKSVILLE, TN-KY (MSA)
TRIGG
417,000
1,094,625
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA)
TRIMBLE
417,000
1,094,625
NON-METRO
UNION
417,000
1,094,625
BOWLING GREEN, KY (MSA)
WARREN
417,000
1,094,625
NON-METRO
WASHINGTON
417,000
1,094,625
NON-METRO
WAYNE
417,000
1,094,625
EVANSVILLE, IN-KY (MSA)
WEBSTER
417,000
1,094,625
CORBIN, KY (MICRO)
WHITLEY
417,000
1,094,625
NON-METRO
WOLFE
417,000
1,094,625
LEXINGTON-FAYETTE, KY (MSA)
WOODFORD
417,000
1,094,625
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*

 We lend in all of Kentucky’s top cities:

Louisville Kentucky VA Loans Lexington Kentucky VA Loans Fayette Kentucky VA Loans
Owensboro Kentucky VA Loans Bowling Green Kentucky VA Loans Florence Kentucky VA Loans
Paduca Kentucky VA Loans Richmond Kentucky VA Loans Elizabethtown Kentucky VA Loans
Kentucky VA Loans

Kentucky VA Loans

va loans for homes in kentucky

Kentucky VA Loans

Louisville Ky VA Loans

Featured

Louisville Ky VA Loans
Why a VA Loan?

The more you know about our home loan program, the more you will realize how little “red tape” there really is in getting a VA loan. These loans are often made without any down payment at all, and frequently offer lower interest rates than ordinarily available with other kinds of loans. Aside from the veteran’s certificate of eligibility and the VA-assigned appraisal, the application process is not much different than any other type of mortgage loan. And if the lender is approved for automatic processing, as more and more lenders are now, a buyer’s loan can be processed and closed by the lender without waiting for VA’s approval of the credit application.

Additionally, if the lender is approved under VA’s Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan on the basis of that review. The LAPP process can further speed the time to loan closing.

What is a VA Guarenteed Loan?

These loans are made by a lender, such as a mortgage company, savings and loan or bank. VA’s guaranty on the loan protects the lender against loss if the payments are not made, and is intended to encourage lenders to offer veterans loans with more favorable terms. The amount of guaranty on the loan depends on the loan amount and whether the veteran used some entitlement previously. With the current maximum guaranty, a veteran who hasn’t previously used the benefit may be able to obtain a VA loan up to $240,000 depending on the borrower’s income level and the appraised value of the property. The local VA office can provide more details on guaranty and entitlement amounts.

Who is Eligible?

Veterans who served on active duty and were discharged under conditions other than dishonorable, during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days’ service. Veterans with service only during peacetime periods and active duty military personnel must have had more than 180 days’ active service. Veterans of enlisted service which began after September 7, 1980, or officers with service beginning after October 16, 1981, must in most cases have served at least 2 years. VA regional office personnel may assist with additional eligibility questions

Top
VA Loan Applications

The application process for VA financing is no different from any other type of loan. In fact, the VA application form is the same as that used for HUD/FHA and conventional loans. The mortgage lender verifies the applicant’s income and assets, and obtains a credit report to see that other obligations are being paid on time. If all is well and the appraised value of the property is enough to cover the loan needed, the lender, in most instances, can then close the loan under VA’s automatic procedure. Only about 10 percent of VA loan applications have to be submitted to a VA office for approval before closing.

Top
VA Loan Uses

You may use VA-guaranteed financing:

  1. To buy a home.
  2. To buy a townhouse or condominium unit in a project that has been approved by VA.
  3. To build a home.
  4. To repair, alter, or improve a home.
  5. To simultaneously purchase and improve a home.
  6. To improve a home through installment of a solar heating and/or cooling system or other energy efficient improvements.
  7. To refinance an existing home loan.
  8. To refinance an existing VA loan to reduce the interest rate and add energy efficiency improvements.
  9. To buy a manufactured (mobile) home and/or lot.
  10. To buy and improve a lot on which to place a manufactured home which you already own and occupy.
  11. To refinance a manufactured home loan in order to acquire a lot.
VA Loan Costs

A basic funding fee of 2.0 percent must be paid to VA by all but certain exempt veterans. A down payment of 5 percent or more will reduce the fee to 1.5 percent and a 10 percent down payment will reduce it to 1.25 percent.

A funding fee of 2.75 percent must be paid by all eligible Reserve/National Guard individuals. A down payment of 5 percent or more will reduce the fee to 2.25 percent and a 10 percent down payment will reduce it to 2.0 percent.

The funding fee for loans to refinance an existing VA home loan with a new VA home loan to lower the existing interest rate is 0.5 percent.

Veterans who are using entitlement for a second or subsequent time who do not make a down payment of at least 5 percent are charged a funding fee of 3 percent.

Louisville FHA and VA Home Loans

Louisville FHA and Louisville VA home loans. Louisville FHA home loans can help Louisville borrowers obtain a Louisville mortgage more easily. Louisville VA home loans can help Louisville Veterans secure Louisville home loans to purchase their dream home. Lending for help with your Louisville FHA and VA home loans.