Kentucky Housing Corporation (KHC) has $3 million available in MRB, Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years.

 

military father and daughter 2(2).png
Kentucky Housing Corporation (KHC) has $3 million available in MRB, Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis.

APR 3.058% – based on $130,000 FHA loan at 2% interest rate.

This program is targeted to:
Households whose gross annual income does not exceed $40,000.
An existing or new construction property (purchase price limit $130,000).
620 minimum credit score.
FHA, VA, or RHS first mortgage options.
Households that include active / non-active duty veterans or other persons receiving VA benefits.
Down payment Assistance Programs (DAP) available up to $6,000. Qualifications apply.
Documentation may include but not limited to:
Leave and Earnings Statement (LES)
DD214 – Discharge from Active Duty
VA Award Letter
Must meet insuring agency guidelines.
Available statewide.
Both Regular and Affordable DAP are available

2 percent interest rate, First time home buyer, fixed for 30 years, fort knox ky zero down loan, kentucky first time home buyer grant, kentucky housing corporation khc, khc, khc loans, khc rates ky, KHC’s (Kentucky Housing ) First Mortgage Government, ky first time home buyer, Louisville Kentucky First Time Home Buyer, mortgage rate, Real Estate, va loans ky, Zero down home loans

Call us today for a free pre-approval at 502-905-3708 or email your mortgage questions to kentuckyloan@gmail.com



— 

 Company ID #1364 | MB73346
Joel Lobb
Senior  Loan Officer
(NMLS#57916)

 

text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
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 view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (http://www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.

Kentucky First Time Home Buyer Programs for 2017 FHA, VA, KHC, USDA, RHS, Fannie Mae Loans in Kentucky

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Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years.

Operation KY Home – MRB Special Funding Program
Kentucky Housing Corporation (KHC) has $3 million available in MRB, Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting today,Wednesday, September 6, 2017, with new reservations beginning at10 a.m.
This program is targeted to:
  • Households whose gross annual income does not exceed $40,000.
  • An existing or new construction property (purchase price limit $130,000).
  • 620 minimum credit score.
  • FHA, VA or RHS first mortgage options.
  • Households who include active or non-active duty veterans. Documentation may include but not limited to:
    • Leave and Earnings Statement (LES)
    • DD214 – Discharge from Active Duty
    • VA Award Letter
  • Must meet insuring agency guidelines.

View original post 676 more words

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Kentucky VA Mortgage Guidelines for Student Loans

Kentucky VA Mortgage Guidelines for Student Loans
If student loan repayments are scheduled to begin within 12 months of the date of  the Kentucky VA loan closing, lenders should consider the anticipated monthly obligation in the loan analysis. If the borrower is able to provide evidence that the debt may be deferred for a period outside that time frame, the debt need not be considered in the analysis.
Guide Reference – Lenders Handbook Chapter 4, Section 5, Debts and Obligations

 

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List of Government Foreclosed Homes in Kentucky to include VA, FHA, HUD, Fannie Mae and USDA

Photo City State ZipCode Beds Baths Sq. Ft. Price
Photo
ALEXANDRIA KY 41001 3.0 2.5 1848 $126,900.00
Photo
ANNVILLE KY 40402 3.0 2.0 2144 $49,900.00
Photo
BELFRY KY 41514 3.0 2.0 1800 $65,900.00
Photo
BLAINE KY 41124 11.0 0.0 0 $17,500.00
Photo
BOSTON KY 40107 4.0 1.5 1612 $64,000.00
Photo
BRANDENBURG KY 40108 3.0 2.5 1772 $154,900.00
Photo
BURLINGTON KY 41005 3.0 2.5 1966 $127,900.00
Photo
CAMPBELLSBURG KY 40011 3.0 2.0 1904 $50,000.00
Photo
CAMPTON KY 41301 2.0 2.0 1650 $17,900.00
Photo
CATLETTSBURG KY 41129 3.0 2.0 1765 $21,900.00

$115,000Just Listed

5129 Catesville Providence Rd
Dixon, KY 42409

3 Beds |2 Baths | 1605 sq. ft.

View Property

$22,900Just Listed

1338 Hazen St
Covington, KY 41016

1 Beds |1 Baths | 912 sq. ft.

View Property

$75,500Just Listed

520 E 20th St
Covington, KY 41014

4 Beds |2 Baths | 2266 sq. ft.

View Property

$62,000Just Listed

719 E 7th St
Hopkinsville, KY 42240

3 Beds |2 Baths | 4167 sq. ft.

View Property

$15,000Back on Market

2030 Clay St
Paducah, KY 42001

4 Beds |2 Baths | 1660 sq. ft.

View Property

Coming Soon

3848 W Muhammad Ali Blvd
Louisville, KY 40212

2 Beds |1 Baths | 720 sq. ft.

View Property

Coming Soon

7097 N Dixie Hwy
Bonnieville, KY 42713

2 Beds |1 Baths | 877 sq. ft.

View Property

Coming Soon

910 S 44th St
Louisville, KY 40211

3 Beds |2 Baths | 1422 sq. ft.

View Property

Coming Soon

2250 Clearwater Dr
Lawrenceburg, KY 40342

3 Beds |2.5 Baths | 1819 sq. ft.

View Property

 

3109 HORSESHOE CT, CRESTWOOD KY 40014

$178,500.00

Photo

Bed/Bath: 3.0/2.0
Year Built: 2001
Square Feet: 1748
Lot Size: 1-2 ac
MLS: 1460336
Property Type: Single Family
Status: Not Available – Pending Sale

Check out this spacious walk out ranch with 3 BR’s & 2 full bath with a split floor plan located on 1.25 acres. This house sits on a partially wooded lot on a quiet cul-de-sac in Kentucky Acres. Vaulted ceiling in the living room with fireplace and tile flooring. Nice eat in kitchen which has lots of cabinets and counter space. HUGE family room in the basement and also 2 car garage in the lower level. If built prior to 1978 lead-based paint potentially exists. Seller’s name is Secretary of Veterans Affairs. Seller does not pay customary closing cost: including title policy, escrow fees, survey or transfer fees. Proof of funds required on cash transactions; Lender pre-approval letter for financed offer (dated within last 30 days).

Property Details
Basement Description: Finished SQFT:1193
Sewer Description: Waste DisposalSeptic
Utilities Description: Water SourcePublic
List Price: $178,500.00
List Date: 10/12/2016

Listing Agent

Sherry Bennett Webb
Bennett Webb Realty
c21sherry@aol.com
(502) 245-2105

Search Results for HUD Homes in KY

1 | 2 | 3 |
42 listings found
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Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details 
201-356622 206 Pappy Dr
Oak Grove, KY, 42262
Christian County
$88,000 3 2.00 Extended  01/02/2017 View Street
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Email Info
201-363952 3807 Maxon Rd
Paducah, KY, 42001
Mccracken County
$100,000 3 2.00 Extended  01/02/2017 View Street
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Email Info
201-364387 10205 Winding River Way
Louisville, KY, 40229
Jefferson County
$99,000 2 2.10 Exclusive  01/02/2017 View Street
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Email Info
201-369019 57 Sea Cadet Rd
Lancaster, KY, 40444
Garrard County
$120,000 3 2.00 Extended  01/02/2017 View Street
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Email Info
201-370520 10010 Park Lake Dr
Louisville, KY, 40229
Jefferson County
$87,000 3 2.00 Exclusive  01/02/2017 View Street
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Email Info
201-376124 308 Grant Ave
Oak Grove, KY, 42262
Christian County
$90,000 3 2.00 Extended  01/02/2017 View Street
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Email Info
201-376390 3668 Bold Bidder Dr
Lexington, KY, 40517
Fayette County
$115,000 3 2.00 Extended  01/02/2017 View Street
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Email Info
201-379788 2557 Ratliff Creek
Pikeville, KY, 41501
Pike County
$121,500 4 2.20 Extended  01/02/2017 View Street
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Email Info
201-383534 6246 Main St
Burlington, KY, 41005
Boone County
$99,200 3 2.10 Extended  01/02/2017 View Street
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Email Info
201-383947 265 Clifton Ln
Owenton, KY, 40359
Owen County
$132,000 3 2.00 Exclusive  01/02/2017 View Street
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Email Info
201-385672 555 Saint Anthony D
Lexington, KY, 40505
Fayette County
$90,000 4 2.00 Extended  01/02/2017 View Street
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Email Info
201-389790 151 Robards Ct
Harrodsburg, KY, 40330
Mercer County
$78,000 3 2.00 Extended  01/02/2017 View Street
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Email Info
201-389913 5256 Jewell Ln
Paducah, KY, 42001
Mccracken County
$184,500 4 2.00 Extended  01/02/2017 View Street
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Email Info
201-395311 64 Mossey Oak Rd
Whitley City, KY, 42653
Mccreary County
$95,000 4 1.00 Exclusive  01/03/2017 View Street
Map it
Email Info
201-396495 470 Poplar Haven Rd
Scottsville, KY, 42164
Allen County
$176,000 4 3.00 Extended  01/02/2017 View Street
Map it
Email Info
201-401895 6800 Sandstone Blvd
Louisville, KY, 40219
Jefferson County
$80,000 3 1.10 Extended  01/02/2017 View Street
Map it
Email Info
201-407017 301 E 1st St
Silver Grove, KY, 41085
Campbell County
$105,000 5 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-409412 145 Tumbleweed Cour
Elizabethtown, KY, 42701
Hardin County
$170,000 3 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-430492 7808 Pleasure Walk Cir
Louisville, KY, 40258
Jefferson County
$77,400 2 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-432835 716 Idaho Ln
Owensboro, KY, 42301
Daviess County
$77,000 3 1.00 Exclusive  01/02/2017 View Street
Map it
Email Info

 

201-436876 116 Cherokee Dr
West Van Lear, KY, 41268
Johnson County
$152,000 3 2.10 Extended  01/02/2017 View Street
Map it
Email Info
201-437021 75 Phillips Lane
London, KY, 40741
Laurel County
$75,000 3 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-445253 8303 Smyrna Pkwy
Louisville, KY, 40228
Jefferson County
$105,000 3 2.00 Exclusive  01/02/2017 View Street
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Email Info
201-451036 339 College Manor
Harrodsburg, KY, 40330
Mercer County
$75,000 3 1.00 Extended  01/02/2017 View Street
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Email Info
201-452225 176 Ratliff Rd
Pikeville, KY, 41501
Pike County
$172,800 4 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-454711 2520 W Jarvis Rd
Ashland, KY, 41102
Boyd County
$86,000 2 1.00 Extended  01/02/2017 View Street
Map it
Email Info
201-456418 102 Forest Hill Dr
Hodgenville, KY, 42748
Larue County
$125,000 3 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-462007 129 Bourne Ave
Somerset, KY, 42501
Pulaski County
$90,300 6 2.00 Exclusive  01/02/2017 View Street
Map it
Email Info
201-471777 60 Cloud Subdivision
London, KY, 40741
Laurel County
$78,300 2 1.00 Extended  01/02/2017 View Street
Map it
Email Info
201-472986 1107 Donald St
Ashland, KY, 41102
Boyd County
$86,000 3 2.00 Exclusive  01/09/2017 View Street
Map it
Email Info
201-473861 927 Summitridge Ln
Erlanger, KY, 41018
Kenton County
$126,000 2 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-475559 101 Sandy Hills Cir
Corbin, KY, 40701
Laurel County
$95,000 3 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-481162 60 Grant Dr
Somerset, KY, 42503
Pulaski County
$116,100 3 2.00 Extended  01/02/2017 View Street
Map it
Email Info
201-491948 102 Grant Drive
Lawrenceburg, KY, 40342
Anderson County
$80,000 3 1.00 Extended  01/02/2017 View Street
Map it
Email Info
201-506662 1802 Jefferson Ave
Covington, KY, 41014
Kenton County
$76,000 3 1.10 Extended  01/02/2017 View Street
Map it
Email Info
201-511886 407 Western Ave
Covington, KY, 41011
Kenton County
$88,000 2 1.00 Exclusive  01/02/2017 View Street
Map it
Email Info
201-515013 3422 Olive Rd
Louisville, KY, 40219
Jefferson County
$90,000 3 2.10 Exclusive  01/02/2017 View Street
Map it
Email Info
201-526573 8819 Old Ironsides
Louisville, KY, 40228
Jefferson County
$110,000 3 1.00 Exclusive  01/02/2017 View Street
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Email Info
201-537022 139 Lake Forest Dr
Georgetown, KY, 40324
Scott County
$126,000 3 2.00 Exclusive  01/02/2017 View Street
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Email Info
201-540500 3841 Carpenter Dr
Owensboro, KY, 42301
Daviess County
$78,000 3 1.00 Exclusive  01/09/2017 View Street
Map it
Email Info
1 | 2 | 3 |

 

 

Kentucky VA Mortgage Guidelines for 2016

Featured

STUDENT LOAN CLARIFICATION FOR ALL LOAN PROGRAMS

April 19, 2016
 
STUDENT LOAN CLARIFICATION FOR ALL LOAN PROGRAMS
PROGRAM
GUIDELINE
FNMA
For all student loans, whether deferred, in forbearance, or in repayment (not deferred), the lender must use the greater of the following to determine the monthly payment to be used as the borrower’s recurring monthly debt obligation:
  • 1% of the outstanding balance; or
  • The actual documented payment (documented in the credit report, in documentation obtained from the student loan lender, or in documentation supplied by the borrower).
If the payment currently being made cannot be documented or verified, 1% of the outstanding balance must be used.
Exception: If the actual documented payment is less than 1% of the outstanding balance and it will fully amortize the loan with no payment adjustments, the lender may use the lower, fully-amortizing monthly payment to qualify the borrower.
FHLMC
Use the following:
  • The payment on the credit report
  • 1% of the outstanding balance or
  • The actual documented fully amortizing payment.
FHA
Student loans:
Regardless of the payment status, the mortgagee must use:
  • The GREATER of:
    • 1% of the outstanding balance on the loan; or
    • The monthly payment reported on the credit report; or
  • The actual documented payment, provided the payment will fully amortize the loan over its term.
For example:
Student loan reporting on credit with a balance of $15,000 and a payment of $55.00. 1% of the balance is greater than the payment reporting, so you would use 1%.
If there is documentation showing a fully amortized payment of $125.00, you could use that payment instead of the 1%.
VA
May be excluded from the borrower’s total monthly obligations with evidence of a minimum of 12 months deferment from date of closing.
 
If there is no monthly payment reflected on the credit report, a copy of the borrower’s payment letter or promissory note should be used to determine what payment amount to use.
USDA
Fixed payment loans:  A fixed payment may be used in the debt ratio when the lender retains documentation to verify the payment is fixed, the interest rate is fixed, and the repayment term is fixed.  There must be no future adjustments to the terms of the student loan payments.
Non-Fixed payment loans:  Payments for deferred loans, Income Based Repayment (IBR), Graduated, Adjustable, and other types of repayment agreements which are not fixed cannot be used in the total debt ratio calculation.  One percent of the loan balance reflected on the credit report must be used as the monthly payment.  No additional documentation is required.

Louisville, Kentucky VA Loan Requirements for 2017

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cropped-164463_500062453410508_94017010_n-1.jpg

VA Home Loans in Louisville, Kentucky Under the GI Bill, Active military personnel as well as their spouses may qualify a home loan in Louisville, Kentucky using the benefits for veterans. This loan program is designed to offer the most flexibility as well as affordability to veterans and their family for appreciation of services to our country. The VA’s guarantee a portion of the loan gives the veteran the ability to purchase a home with zero down payment. The most significant advantage of your VA home loans Louisville,  Kentucky is that you can buy your with little to nothing out of pocket. As a former 19 kilo Army Tanker , the VA loans are my favorite, as I am able to assist other military members in realizing their dream of home ownership.

The Key benefits of the Kentucky Veterans Administration Homes Loans  are:

  • Lowe  credit requirements (620 credit scores)
  • No money down loans
  • low closing costs
  • close in 30 days
  • free pre-approvals
  • Low interest rate
  • No mortgage insurance
  • No early repayment penalties

Eligibility for Louisville, KY VA Mortgage Loans

Although, the VA does not require a credit score, the fact is the mortgage lenders do. From the lender’s stand point, they require that you have a minimum credit score of 620 or above. With no money down, lenders take on ALL the risk when agreeing to finance a VA Loan. The bottom line: you will not be able to get a VA Loan With Bad Credit. VA Loan Rates are 30 Year Fixed to avoid fluctuation in payments that may lead to default. The VA loan is a special loan designated for united states veterans. All military service personally are no eligible; there are additional requirements when seeking a VA Home Loan.

One of the following must apply:

  • You logged in 90 consecutive service days during war time
  • You logged in 181 service days during peacetime
  • You were in the Reserves or the National Guard for a period of over 6 years
  • Your spouse was a service member who lost his/ her life on duty or owing to a disability that was service related

If you are a veteran and located in the Kentucky, this will  be your most cost effective loan option to finance your new home purchase. To learn more about the various loan types and options, contact us to today!

 

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Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
 Fax:     (502) 327-9119
 
 

Who is eligible for Kentucky VA loans?

Featured

Who is eligible for Kentucky VA loans?

Kentucky VA loans are available to veterans of the United States Armed Forces, including those who are on active duty or reserve, as well as widows or widowers of veterans. There are also special circumstances under which spouses of veterans can also apply for eligibility.
Keep in mind, you’ll need to provide a Certificate of Eligibility (COE) in order to prove you are entitled to receive VA financing. Visit the U.S. Department of Veteran Affairs website to learn how to obtain a COE. Your lender can also help you obtain a COE based on your unique circumstances.

What benefits do Kentucky VA Loans offer veterans?

Kentucky VA loan program comes with special advantages other mortgage loan products don’t have. Here are just a few benefits of Kentucky VA loans:
Flexible qualifying and credit requirements
Lower interest rates
Zero down payment
No private monthly mortgage insurance (PMI)
Property tax exemptions
There are even grants that allow disabled veterans to make modifications to their home. Another important benefit to point out includes the ability to finance a substantial portion of the closing costs associated with purchasing a home.

In order to get you pre-approved, I will need the following items from you. This is a free process and I will give you a copy of your credit report for free.

VA Loan Checklist
The following is a list of documents that may be required to process your VA mortgage loan:
One full month’s worth of pay stubs
Last 2 years W-2′s
Last 2 years tax returns
Copy of your DD214
Your VA Certificate of Eligibility (we can help you get this if needed)
Last two months bank statements for all accounts

I don’t need originals, copies are fine. You can fax or email me the above documents.

Let me know your questions.

Thanks and look forward to helping you

VA Home Purchase Benefits

Option for no down payment, zero down home loan
Current 30 year fixed rate of 3.75%
No monthly mortgage insurance premium
Seller or lender may contribute to veteran’s closing costs
Termite report required on all VA loans
No closing costs option available
Close in as little as 30 days
Free Mortgage Approvals

Joel Lobb
Senior Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
10602 Timberwood Circle, Suite 3
Louisville, KY 40223

phone: (502) 905-3708
Fax: (502) 327-9119
kentuckyloan@gmail.com

http://www.mylouisvillekentuckymortgage.com/

Posted by joel lobb at 12:46 PM
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Labels: 100% cash out refinance, Current VA Mortgage Rates Louisville KY, IRRRLs Versus Cash-Out Refinancing Loans, Kentucky VA Home Loans, Louisville Kentucky VA Home, streamline refinance, zero down va loans

Kentucky Refinance Streamline Guidelines for an IRRL

Kentucky VA Streamline

Kentucky VA Streamline

 Kentucky VA IRRRL Refinance benefits:
No Income, No Assets, No Appraisal

Allowed on 2nd homes and Non-owner occupied proof veteran occupied the property at one time required Refinance of Existing VA loan up to $417,000 (loan amounts are based on VA worksheet)
No Appraisal, no income, and no asset documentation – including funds to close Existing Loan Term can be extended up to 30 years
Minimum 620 credit score required Reduced guarantee fee of .5%
No additional pricing adjustment for VA IRRRL transactions Term reduction allowed on VA IRRRL (payment cannot increase by more than 20%)

 
Joel Lobb
Senior  Loan Officer

(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 CONFIDENT

Documents Needed for a Mortgage Loan Approval

Documents Needed for a Mortgage Loan Approval.

via Documents Needed for a Mortgage Loan Approval.

via Documents Needed for a Mortgage Loan Approval.

Kentucky VA Home Loans, Zero Down

Kentucky VA Home Loans, Zero Down.

via Kentucky VA Home Loans, Zero Down.