Kentucky VA Loans for Kentucky First-Time Home Buyers



Kentucky VA Loans for Kentucky First-Time Home Buyers

Are you a Kentucky first-time home buyer and also a veteran? Get approved for $0 down mortgage financing anywhere in Kentucky and up to $453,100 in financing on A VA Mortgage loan.

In this Kentucky VA Mortgage blog, we will walk you through the three-step process to get approved and close on your KY VA Loan as well as some other key information about confirming your VA Eligibility, finding a realtor, and associated costs.




Step 1: Prepare -Get approved for a Kentucky VA loan.

First you’ll need to verify your eligibility with VA Entitlement. Once you apply for your mortgage with us, we’ll be able to request your Certificate of Eligibility for Kentucky VA Home Buyers (COE) on your behalf. We’ll be able to determine the maximum amount you’re entitled to and will work on your request based on the findings from your COE. Typically, most KY VA buyers will be eligible to receive $113,275 towards their down payment, which allows you to finance 100% of your purchase.

Once this is verified, you’ll be able to apply, get pre-approved. You’ll know exactly what kind of house you can afford rather than just an estimate.

At this point, you can connect with a buyer’s agent (realtor) to start shopping for a home. Using a buyer’s agent is a huge benefit to you. They don’t cost you anything, and they’ll bring with them necessary real estate expertise. Realtors will receive a commission once you’ve purchased the home, but this commission is already worked into the price of any house being listed by another agent. Together, your realtor, your lender, and you will be able to identify the best houses you’re able to afford.

Keep in mind – houses can come and go very fast. It’s not uncommon for houses to be listed and sold within a month. After you’ve seen a house you really like, you need to be prepared to place an offer within a few days or even the same day you saw the house. This is why having your Approved Buyer Certification already is a huge advantage.

Step 2: Get Approved – Appraisal, home inspection, rate lock, and clear-to-close

Once you’ve found the right home and have your offer accepted, we’ll get you moving through the final approval and the closing process. If you already have your Approved Buyer Certificate, you’ll have most of the work already completed. One of our VA Loan experts will review your application and complete the unfinished parts.

You’ll get a Kentucky VA property appraisal and home inspection if necessary. Assuming that both of these come back favorably, you’ll lock in your rate, be clear-to-close, and schedule a closing date with the seller.

Step 3: Close on the home

Three business days before closing, we’ll provide you with a form called the Closing Disclosure listing all the fees associated with getting the loan indicating who pays what fee, which includes an appraisal fee, title fees, taxes and government fees, and a funding fee. You’ll do a final walkthrough of the property and confirm the seller will turn over the property to you as agreed. After the property legally transfers from the former owner to you and you sign all your final loan documents, you get the keys to your new 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.

Kentucky VA Loan Mortgage Pre-Approval Checklist

  • one full month’s worth of pay stubs
  • Last 2 years W-2′s
  • Last 2 years tax returns 
  • Your  VA Certificate of Eligibility (we can help you get this if needed, just need your dd214) 
  • Last two months bank statements for all accounts

Once I get the information above, I can usually get you pre-approved in one day, and get your loan closed in 30-45 days after you get an accepted offer on a home.

Your first house payment usually starts 30-60 days after you close.

Your loan pre-approval is usually good for 60 days.
I don’t need originals, copies are fine. You can fax or email  me the above documents,  or meet me face-to-face if you wish to make copies and go over your options.

Let me know your questions.

Thanks and look forward to helping you.


American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346

Text/call 502-905-3708
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#57916

— 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.



2017 Kentucky VA LOAN LIMITS

There actually is no max Kentucky VA loan Limits set by VA. However, if you go over the standard VA Max County Loan Limits, in Kentucky this year it is set at $424,000, then you would need to come up with difference in the form of the down payment by taking the Sales price, minus the max va loan limits for County, then take 25% of that for your max loan. The fact is there’s actually no maximum loan amount on a VA loan. What those loan limits represent is how much a qualified military borrower can obtain without making a down payment.

Here’s an example. Let’s say you have full VA loan entitlement and the county in which you’re purchasing has the standard $424,100. The home you want to purchase is $650,000. There’s a $225,900  difference between the two, and one quarter of that is $56,475, which is how much the borrower would need as a down payment.

This is based on your maximum VA entitlement of $36,000  not being used.





December 6, 2016
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 limit applies to the loan amount for KY VA loans with no down payment and with full entitlement of $36,000
These new Kentucky VA loan limits will be effective for loans closing on or after January 1, 2017.
Revised Loan limits (for counties in excess of $424,100) by county/state for 2017 can be found online at:
In addition, for comparison, the prior year limits (for counties previously in excess of $417,000) are available at:


YES – You CAN Buy a Home OVER $417,000 with a VA Mortgage Loan

KY VA Home loans are zero down payment up to $417,000.  If you wish you buy a more expensive home with a VA loan, you will need a small down payment.

The exact formula to determined the VA down payment is a bit more complicated, but the simple quick math is you’ll need about 25% of the difference between the purchase price, and $417,000.

So if you were to buy a $517,000 home. There is a $100,000 difference over the zero down maximum $417,000 loan. Therefore you’ll need a down payment of about $25,000.


Joel Lobb
Senior  Loan Officer
text or call my phone: (502) 905-3708
email me at
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, ( 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 VA Loan Overview




I have originated over 300 VA Home loans in Kentucky and I know how great they are for Kentucky Families; a home loan with zero down, at a very low 30 year fixed rate with no monthly mortgage insurance. I consider myself a VA Home loan expert from Louisville Kentucky and I would like to assist you in your next VA home loan in Kentucky. I have created a Kentucky VA home mortgage website for information and insights to the VA Home Loan NMLS #57916

502-905-3708 or email kentuckyloabn@gmail,.com  NMLS#57916

Deal with someone locally on your VA loan instead of a person behind a 1-800 number. Honest, straight-forward service right here in Kentucky.

Maximum LTV

Purchase: 100/100 Max LTV/CLTV

Refinance: 100/100 Max LTV/CLTV (VA Cash-Outs greater than 90% have additional guideline requirements)

FICO/Credit Score

A minimum of 1 credit score is required. A standard Tri-Merge Credit Report is generally required; however a Mortgage Only Credit Report will also be accepted for IRRRLs ONLY so long as it includes valid FICO scores.

Minimum Credit scores for VA loans (including IRRRLs) are:

  • Automated Approval: 580
  • Manual Underwriting: 560
DTI Ratio

Automated Approval: No maximum DTI

Manual Underwriting: Maximum 43% backend DTI


An NOV (Notice of Value) from VA is required.

Maximum Loan Amount

Individual county loan limits may differ. You can find the link to determine loan limits for the subject property county here.

The maximum potential loan amount for a purchase transaction with full entitlement is $1,094,625. Loan amounts up to $1,500,000 are allowed as long as the VA guaranty plus the veteran’s down payment and/or equity equal 25% of the lesser of the sales price or Notice of Value (NOV).

Under certain conditions (see below), Non-IRRRL refinance transactions are allowed up to 100/100 LTV/CLTV. Refinances not meeting these conditions are limited to a maximum 90/90 LTV/CLTV of the property value shown on the CRV or NOV plus the cost of any energy efficient improvements (up to $6,000) plus the VA Funding Fee.

For IRRRLs, Maximum loan amount is the existing VA loan balance plus the following

  • Allowable fees and charges, plus
  • The cost of energy efficiency improvements, and
  • The VA funding fee = .50.
Cash-Out Refinance Loans greater than 90% LTV

VA Cash-Out Refinance loans will now be offered with LTV/CLTV up to 100%. If the LTV or CLTV greater than 90%, the following additional requirements will apply

  • The cash-out loan may be paying off a current mortgage loan (VA or otherwise), a second (seasoned or unseasoned), and/or another non-mortgage debt.
  • Maximum cash in hand after all payoffs cannot be greater than $50,000
  • Minimum FICO 660
  • An additional adjustment of -0.5
  • The loan must have a DU Approve/Eligible (No manual underwrites allowed)

A minimum of 25% of the loan amount must consist of available guaranty. If less than 25% guaranty is indicated on the Loan Guaranty Certificate (LGC), a calculation worksheet must be enclosed indicating the calculations used to determine the full 25% guaranty.

The maximum guaranty is the lesser of the veteran’s available entitlement or the maximum potential guaranty amount detailed below:

Up to $45,000 50% of the loan amount
$45,001 – $56,250 $22,500
$56,251 – $144,000 40% of the loan amount with a maximum of $36,000
$144,001 – $417,000 25% of the loan amount with a maximum of $104,250
$417,001 – $1,500,000 25% of the loan amount with a maximum of $273,656

Note: the maximum guaranty for loan amounts > $417,000 varies depending upon the location of the property.

VA Funding Fees

All IRRRLs have a funding fee of 0.50. For other loans, see the table below

Purchase and Construction Loans
Type of Veteran Down Payment Percentage for First-Time Use Percentage for Subsequent Use
Regular Military 0 – 4.99%
5 – 9.99%
10% or more
Reserves/National Guard 0 – 4.99%
5 – 9.99%
10% or more
Refinance Loans
Type of Veteran Percentage for First-Time Use Percentage for Subsequent Use
Regular Military 2.15% 3.30%
Reserves/National Guard 2.40% 3.30%
Funding Fee Exemption

A veteran must establish any claim for exemption from the fee with documentation included in the loan file. The following are the only exceptions allowed:

  • Veterans receiving VA compensation for service-connected disabilities
  • Veterans who would be entitled to receive compensation for service-connected disabilities if they did not receive retirement pay
  • Surviving spouses of veterans who died in service or from service-connected disabilities (regardless of whether such surviving spouses are veterans with their own entitlements and whether they are suing their own entitlements on the loan)
  • Veterans who are rated by the VA as eligible to receive compensation as a result of pre-discharge disability examination and rating.
VA Student Loans
  • Student Loans deferred at least 12 months may still be excluded
  • When repayment will begin within the next 12 months, calculate a 5% yearly payment. Then divide that by 12 to get the monthly payment.
    • If the reported payment on the credit report is higher than the above calculated payment, the payment on the credit report must be used.
    • A lower payment reported on the credit report can only be used if corroborated with an official statement from the student loan servicer(s) confirming the loan terms and payment information. This statement can be no more than 60 days old at the time of VA loan closing.
Credit Report and AUS Fee Requirement
  • The combined total of Credit Report Fees and AUS charges cannot exceed $100.
  • The only time a Veteran can be charged with both Credit Report Fees and AUS charges is on AUS “Refer” cases.
VA Short Sales

A borrower with a previous Short Sale will now be eligible without the standard waiting period if they meet all of the following

  • Borrower was current on all mortgage payments for the prior mortgage during the 12 months prior to the Short Sale
  • No 30 day lates on any installment loans during the 12 months prior to the Short Sale.
  • No late payments at all within the last 24 months
  • 660 FICO
  • Loan must receive DU approval
IRRRL QM Requirements

VA IRRRLs must meet the following requirements:

  • The loan being refinanced was originated at least 6 months prior to the IRRRL closing date,
  • At least 6 payments must have been made on the original loan,
  • The borrower has not been more than 30 days late on a payment in the past six months,
  • The recoupment period for all allowable fees and charges financed as part of the loan or paid at closing does not exceed 36 months,
  • The refinance does not increase the principal balance outstanding on the prior loan, except to the extent of fees and charges allowed by the VA,
  • Points and fees do not exceed 3% ,
  • regardless of loan amount—this applies even to lower-balance loans,
  • Loan must also comply with VA limitations on fees and charges,
  • The interest rate on the IRRRL is lower than the interest rate on the loan being refinanced (unless the borrower is refinancing from an adjustable rate loan to a fixed rate loan under VA guidelines),
  • The refinance is fully amortizing and there is no balloon payment,
  • The loan being refinanced is a loan that VA has already guaranteed, and
  • Both the loan being refinanced and the IRRRL meet all other VA requirements.



Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
Company NMLS ID #1364
Text/call:      502-905-3708
fax:            502-327-9119

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

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 approvalnor 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, (

2013 Kentucky VA Loan Limits for counties



2013 Kentucky VA Loan Limits for counties


County Name Single Family Home

Max Guaranty
ADAIR $417,000.00 $1,000,000
ALLEN $417,000.00 $1,000,000
ANDERSON $417,000.00 $1,000,000
BALLARD $417,000.00 $1,000,000
BARREN $417,000.00 $1,000,000
BATH $417,000.00 $1,000,000
BELL $417,000.00 $1,000,000
BOONE $417,000.00 $1,000,000
BOURBON $417,000.00 $1,000,000
BOYD $417,000.00 $1,000,000
BOYLE $417,000.00 $1,000,000
BRACKEN $417,000.00 $1,000,000
BREATHITT $417,000.00 $1,000,000
BRECKINRIDGE $417,000.00 $1,000,000
BULLITT $417,000.00 $1,000,000
BUTLER $417,000.00 $1,000,000
CALDWELL $417,000.00 $1,000,000
CALLOWAY $417,000.00 $1,000,000
CAMPBELL $417,000.00 $1,000,000
CARLISLE $417,000.00 $1,000,000
CARROLL $417,000.00 $1,000,000
CARTER $417,000.00 $1,000,000
CASEY $417,000.00 $1,000,000
CHRISTIAN $417,000.00 $1,000,000
CLARK $417,000.00 $1,000,000
CLAY $417,000.00 $1,000,000
CLINTON $417,000.00 $1,000,000
CRITTENDEN $417,000.00 $1,000,000
CUMBERLAND $417,000.00 $1,000,000
DAVIESS $417,000.00 $1,000,000
EDMONSON $417,000.00 $1,000,000
ELLIOTT $417,000.00 $1,000,000
ESTILL $417,000.00 $1,000,000
FAYETTE $417,000.00 $1,000,000
FLEMING $417,000.00 $1,000,000
FLOYD $417,000.00 $1,000,000
FRANKLIN $417,000.00 $1,000,000
FULTON $417,000.00 $1,000,000
GALLATIN $417,000.00 $1,000,000
GARRARD $417,000.00 $1,000,000
GRANT $417,000.00 $1,000,000
GRAVES $417,000.00 $1,000,000
GRAYSON $417,000.00 $1,000,000
GREEN $417,000.00 $1,000,000
GREENUP $417,000.00 $1,000,000
HANCOCK $417,000.00 $1,000,000
HARDIN $417,000.00 $1,000,000
HARLAN $417,000.00 $1,000,000
HARRISON $417,000.00 $1,000,000
HART $417,000.00 $1,000,000
HENDERSON $417,000.00 $1,000,000
HENRY $417,000.00 $1,000,000
HICKMAN $417,000.00 $1,000,000
HOPKINS $417,000.00 $1,000,000
JACKSON $417,000.00 $1,000,000
JEFFERSON $417,000.00 $1,000,000
JESSAMINE $417,000.00 $1,000,000
JOHNSON $417,000.00 $1,000,000
KENTON $417,000.00 $1,000,000
KNOTT $417,000.00 $1,000,000
KNOX $417,000.00 $1,000,000
LARUE $417,000.00 $1,000,000
LAUREL $417,000.00 $1,000,000
LAWRENCE $417,000.00 $1,000,000
LEE $417,000.00 $1,000,000
LESLIE $417,000.00 $1,000,000
LETCHER $417,000.00 $1,000,000
LEWIS $417,000.00 $1,000,000
LINCOLN $417,000.00 $1,000,000
LIVINGSTON $417,000.00 $1,000,000
LOGAN $417,000.00 $1,000,000
LYON $417,000.00 $1,000,000
MCCRACKEN $417,000.00 $1,000,000
MCCREARY $417,000.00 $1,000,000
MCLEAN $417,000.00 $1,000,000
MADISON $417,000.00 $1,000,000
MAGOFFIN $417,000.00 $1,000,000
MARION $417,000.00 $1,000,000
MARSHALL $417,000.00 $1,000,000
MARTIN $417,000.00 $1,000,000
MASON $417,000.00 $1,000,000
MEADE $417,000.00 $1,000,000
MENIFEE $417,000.00 $1,000,000
MERCER $417,000.00 $1,000,000
METCALFE $417,000.00 $1,000,000
MONROE $417,000.00 $1,000,000
MONTGOMERY $417,000.00 $1,000,000
MORGAN $417,000.00 $1,000,000
MUHLENBERG $417,000.00 $1,000,000
NELSON $417,000.00 $1,000,000
NICHOLAS $417,000.00 $1,000,000
OHIO $417,000.00 $1,000,000
OLDHAM $417,000.00 $1,000,000
OWEN $417,000.00 $1,000,000
OWSLEY $417,000.00 $1,000,000
PENDLETON $417,000.00 $1,000,000
PERRY $417,000.00 $1,000,000
PIKE $417,000.00 $1,000,000
POWELL $417,000.00 $1,000,000
PULASKI $417,000.00 $1,000,000
ROBERTSON $417,000.00 $1,000,000
ROCKCASTLE $417,000.00 $1,000,000
ROWAN $417,000.00 $1,000,000
RUSSELL $417,000.00 $1,000,000
SCOTT $417,000.00 $1,000,000
SHELBY $417,000.00 $1,000,000
SIMPSON $417,000.00 $1,000,000
SPENCER $417,000.00 $1,000,000
TAYLOR $417,000.00 $1,000,000
TODD $417,000.00 $1,000,000
TRIGG $417,000.00 $1,000,000
TRIMBLE $417,000.00 $1,000,000
UNION $417,000.00 $1,000,000
WARREN $417,000.00 $1,000,000
WASHINGTON $417,000.00 $1,000,000
WAYNE $417,000.00 $1,000,000
WEBSTER $417,000.00 $1,000,000
WHITLEY $417,000.00 $1,000,000
WOLFE $417,000.00 $1,000,000
WOODFORD $417,000.00 $1,000,000
Joel Lobb (NMLS#57916) Senior Loan Officer 502-905-3708 cell 502-813-2795 fax Key Financial Mortgage Co. (NMLS #1800)* 107 South Hurstbourne Parkway* Louisville, KY 40222*
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*


2012 VA Loan Limits for Kentucky Counties


2012 VA Loan Limits for Kentucky Counties


County VA Limit
Adair $417,000
Allen $417,000
Anderson $417,000
Ballard $417,000
Barren $417,000
Bath $417,000
Bell $417,000
Boone $417,000
Bourbon $417,000
Boyd $417,000
Boyle $417,000
Bracken $417,000
Breathitt $417,000
Breckinridge $417,000
Bullitt $417,000
Butler $417,000
Caldwell $417,000
Calloway $417,000
Campbell $417,000
Carlisle $417,000
Carroll $417,000
Carter $417,000
Casey $417,000
Christian $417,000
Clark $417,000
Clay $417,000
Clinton $417,000
Crittenden $417,000
Cumberland $417,000
Daviess $417,000
Edmonson $417,000
Elliott $417,000
Estill $417,000
Fayette $417,000
Fleming $417,000
Floyd $417,000
Franklin $417,000
Fulton $417,000
Gallatin $417,000
Garrard $417,000
Grant $417,000
Graves $417,000
Grayson $417,000
Green $417,000
Greenup $417,000
Hancock $417,000
Hardin $417,000
Harlan $417,000
Harrison $417,000
Hart $417,000
Henderson $417,000
Henry $417,000
Hickman $417,000
Hopkins $417,000
Jackson $417,000
Jefferson $417,000
Jessamine $417,000
Johnson $417,000
Kenton $417,000
Knott $417,000
Knox $417,000
LaRue $417,000
Laurel $417,000
Lawrence $417,000
Lee $417,000
Leslie $417,000
Letcher $417,000
Lewis $417,000
Lincoln $417,000
Livingston $417,000
Logan $417,000
Lyon $417,000
Madison $417,000
Magoffin $417,000
Marion $417,000
Marshall $417,000
Martin $417,000
Mason $417,000
McCracken $417,000
McCreary $417,000
McLean $417,000
Meade $417,000
Menifee $417,000
Mercer $417,000
Metcalfe $417,000
Monroe $417,000
Montgomery $417,000
Morgan $417,000
Muhlenberg $417,000
Nelson $417,000
Nicholas $417,000
Ohio $417,000
Oldham $417,000
Owen $417,000
Owsley $417,000
Pendleton $417,000
Perry $417,000
Pike $417,000
Powell $417,000
Pulaski $417,000
Robertson $417,000
Rockcastle $417,000
Rowan $417,000
Russell $417,000
Scott $417,000
Shelby $417,000
Simpson $417,000
Spencer $417,000
Taylor $417,000
Todd $417,000
Trigg $417,000
Trimble $417,000
Union $417,000
Warren $417,000
Washington $417,000
Wayne $417,000
Webster $417,000
Whitley $417,000
Wolfe $417,000
Woodford $417,000