Tag: va loans

Kentucky VA Mortgage Lender Guidelines for 2019

Kentucky VA Mortgage Lender Guidelines for 2019

Kentucky VA Mortgage Lender Guide

 

 

1. WHAT KIND OF CREDIT SCORE DO YOU NEED TO GET APPROVED FOR A VA MORTGAGE LOAN IN KENTUCKY?

Most VA mortgage lenders in Kentucky are looking for at least a 620 credit score for a VA loan approval.  However, VA in their official published guidelines for credit scores says they don’t have a minimum credit.  What happens with VA Lenders they will create credit overlays to push out lower credit score borrowers because if they do too many VA loans that default, then they run the risk of getting shut out from VA from them insuring their loans.

FICO credit scores range from 300 to 850. Most borrowers are in the 600 to 700 ranges with very few in the 300 to 400 range and few limited 800 scores.

It pays to shop around with different VA lenders in Kentucky to see what their minimum credit score requirements are.

What Does My Credit Score need to Be to Buy a House in Kentucky

2. Who is eligible for a VA Mortgage loan in Kentucky?

Kentucky Veterans, active duty servicemembers, reservists, National Guard members, surviving spouses, and other individuals can earn eligibility for home loan benefits. You may qualify if you are:

  • Military veteran
  • Active duty servicemember
  • Reservist or National Guard member
  • Surviving spouse who did not remarry
  • Academy cadet or midshipman
  • National Oceanic and Atmospheric Administration (NOAA) officer
  • Public Health Service (PHS) Officer

In order to obtain a Kentucky VA loan, you’ll need a Certificate of Eligibility, which you can apply for online or we can get for you with your info. Usually comes back instantly, no waiting around like it use to be for it to come in the mail.

3. Can you get a Kentucky VA Mortgage loan more than once?

If you are deemed eligible for a Kentucky VA loan, the benefit is yours for life, and in some cases, it can be used multiple times at once. Many veterans use it repeatedly for their home financing needs. Use it for a starter home, then use it again when you’re ready for more space. THEN you can use it again to refinance your loan for a lower rate or get cash out of your home’s equity. It’s completely up to you.

When you use your VA COE again to buy another home, there is an increase in the funding fee from 2.15% to 3.3% for regular veteran and active duty if not on VA disability have a waiver of the VA funding fee.

You can have two active VA loans out at the same time. Call or email me and I can explain to you. Very detailed and complex but can be done if meets the test for VA guidelines for having two VA loans at once. 

KENTUCKY VETERANS ARE GUARANTEED VA MORTGAGE LOAN

 No one is guaranteed a loan. Even veterans with VA entitlement.

The word “guaranty” comes up a lot when talking about Kentucky VA loans. Well, I’m here to tell you that a “guaranty” and a “guarantee” are not the same thing. Many people assume when they see “VA loan guaranty” that they’re guaranteed a VA loan, and that’s simply not the case.
The VA loan guaranty refers to the amount of each VA loan that is backed by the government (usually 25%). If the loan defaults, the amount under guaranty is refunded to the lender by the government. So just because you see guaranty, doesn’t mean your loan is guaranteed to be approved.

HOW LONG DOES  VA APPRAISAL PROCESS?

Fact: The VA appraisal process can be rough if you’re pursuing a home that’s in rough shape. Otherwise, the VA appraisal process isn’t much different from the average Conventional appraisal.

VA loan appraisers use the VA’s “Minimum Property Requirement” guidelines to determine if a home is safe, structurally sound, and sanitary. If the home doesn’t meet their standards, the process can take a while. That’s why it’s important to choose your home wisely. A few of the MPRs include:

  • Plumbing and electrical systems must be safe and in good condition
  • Heating must be adequate
  • Roofing must be adequate
  • No leaks, excessive dampness, defective construction, or decay
  • No termites, destructive insects, fungus growth, or dry rot

Kentucky VA loans aren’t designed to fund fixer-uppers. The VA wants veterans and servicemembers to buy solid, move-in ready homes, not projects.  Also, since most VA borrowers are putting no money down, they don’t want to take the risk of borrower walking away with no equity in the home.

 

Kentucky VA Mortgage Lender Guidelines for 2019

 
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.

 

 

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Congress Passes VA Loan Bill for Kentucky VA Home Buyers

The President is expected to sign H.R. 299, the ‘Blue Water Navy Vietnam Veterans Act.’ This legislation includes language which will eliminate the cap on the VA home loan guarantee.

Source: Congress Passes VA Loan Bill

Kentucky VA Mortgage Loan Guide for Foreclosures, Bankruptcy, and short sales or deed in lieu.

Kentucky VA Mortgage Loan Guide for Foreclosures, Bankruptcy, and short sales or deed in lieu.

 

Foreclosure and Bankruptcy Guidelines For Kentucky VA Home Mortgage Loans in 2019 and 2020


Follows guidelines provided for bankruptcies filed under straight liquidation (Chapter 7)
The fact that a home loan foreclosure in Kentucky  (or deed-in-lieu or short sale in lieu of foreclosure) exists in a borrower(s) history does not in itself disqualify the VA borrower for a Kentucky VA  loan. Develop complete information on the facts and circumstances of the foreclosure
You may disregard a foreclosure finalized more than 2 years from the date of closing. If the foreclosure was finalized within the last 1 to 2 years from the date of closing, it is probably not possible to determine that the borrower(s) is a satisfactory credit risk unless both of the following requirements are met:The borrower (s) has obtained consumer items on credit subsequent to the foreclosure and has satisfactorily made the payments over a continued period, and the foreclosure was caused by circumstances beyond the control of the borrower (s) such as unemployment; prolonged strikes, medical bills not covered by insurance, and so on, and the circumstances are verified.

If a foreclosure, deed in lieu, or short sale process is in conjunction with a bankruptcy, use the latest date of either the discharge of the bankruptcy or transfer of title for the home to establish the beginning date of re-established credit. If there is a significant delay in the transfer of title, the lender should contact the RLC of jurisdiction for guidance.

For a deed in lieu or short sale, develop complete information on the facts and circumstances in which the borrowers) voluntarily surrendered the property. If the borrower’s payment history on the property was not affected before the short sale or deed in lieu and was voluntarily communicating with the servicer or holder, then a waiting period from the date transfer of the property may not be necessary.
If the foreclosure, deed and lieu or short sale was on a Kentucky VA-guaranteed loan, then a borrower may not have full entitlement available for the new Kentucky VA loan. Ensure that the borrower’s COE reflects sufficient entitlement to meet any secondary marketing requirements of the VA Mortgage Lender in Kentucky

 

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
  • 2018 and 2017 W-2′s
  • 2018 and 2017 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
  •  
  • Link here to get your COE—–>>>>> https://www.benefits.va.gov/HOMELOANS/purchaseco_certificate.asp

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.

 

 

 

Joel Lobb
Mortgage Loan Officer

Individual NMLS ID #57916

American Mortgage Solutions, Inc.

10602 Timberwood Circle 

Louisville, KY 40223

Company NMLS ID #1364

click here for directions to our office

Text/call:      502-905-3708

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

http://www.mylouisvillekentuckymortgage.com/

 

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
 
 

 

Kentucky VA Loans for Kentucky First-Time Home Buyers

 

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Kentucky VA Loans for Kentucky First-Time Home Buyers

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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
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.

Home Loans for Kentucky’s Military Veterans

Home Loans for Kentucky’s Military Veterans

Kentucky Housing Corporation (KHC) has $3 million available in Mortgage Revenue Bond (MRB), special funding, for active or non-active duty veterans at 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting Wednesday, September 6, 2017, with new reservations.​

FIND A KHC-APPROVED LENDER TO APPLY  

This homeownership 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 duty 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.
  • Available statewide.
Down payment Assistance Programs (DAP) available up to $6,000. Qualifications apply.

How to Apply

For all KHC loans, a home buyer must apply through a KHC-approved lender. We partner with approved lenders across the state to provide you with the best mortgage loan options. By doing this, the buyer will know how much house they can afford based on income and debts. KHC’s loans are subject to certain restrictions that the lender will see if meet the qualifying guidelines. Additionally, the lender will be able to recommend any KHC down payment assistance for which you may qualify.
APR 3.058%  – based on $130,000 FHA loan at 2% interest rate.
Operation KY Home – MRB Special Funding Program
KHC has $1.8 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.
More information is available at www.OperationKYHome.com.

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.

 

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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 Loan Programs for FHA, VA, KHC, USDA, Mortgage Loans in Kentucky for 2019

Screenshot (61)Screenshot (62)

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

Kentucky VA Mortgage Changes for Student Loans Guidelines 2017

 
Kentucky VA Mortgage Student Loan Policy  Guideline Changes
VA loans in Kentucky has issued Circular 26-17-02 regarding student loans.  This policy will be effective immediately for all Kentucky VA loans.
How to Calculate a Student Loan Monthly Payment:
If the Veteran or other borrower provides written evidence that the student loan debt will be deferred at least 12 months beyond the date of closing, a monthly payment does not need to be considered.
If a student loan is in repayment or scheduled to begin within 12 months from the date of closing, the lender must consider the anticipated monthly obligation in the loan analysis and utilize the payment established in one of the options below.  Calculate each loan at a rate of 5%of the outstanding balance divided by 12 months.
 (Example: $25,000 student loan balance x 5% = $1,250 divided by 12 months = $104.17 per month is the monthly payment for debt ratio purposes).
  • The lender must use the payment reported on the credit report for each student loan if the reported payment is greater than the threshold payment calculation above, OR
  • If the payment reported on the credit report is less than the threshold payment calculation above, the loan file must contain a statement from the student loan servicer that reflects the actual loan terms and payment information for each student loan.  The statement must be dated within 60 days of the loan closing and may be an electronic copy from the student loan servicer’s website or a printed statement provided by the student loan servicer.  It is the lender’s discretion as to whether the credit report should be supplemented with this information.
1. What are the most popular mortgages you offer?
Why are they so popular?
2. Which type of mortgage plan do you think would
be best for me? Why?
3. Will I have to buy private mortgage insurance?
If so, how much will it cost, and how long will it
be required. (NOTE: Private mortgage insurance
is usually required if your down payment is less than
20%. However, most lenders will let you discontinue
PMI when you’ve acquired a certain amount of equity
by paying down the loan.)
4. Are your rates, terms, and closing costs negotiable?
5. Who will service the loan – your bank or another?
6. What escrow requirements do you have?
7. How long will this loan be in a lock-in period
(in other words, the time that the quoted interest
rate will be honored)? Will I be able to obtain a
lower rate if it drops during this time period?
8. How long will the loan approval process take?
9. How long will it take to close the loan?
10. Are there any charges or penalties
for prepaying the loan?
KHC Hardest Hit Funds Just announced for Louisville Kentucky 2017!
This specific program is for new loan reservation on or after January 11, 2017. KY Housing has $4 Million Dollars set aside for this program and is utilized on a first-come, first-served basis.
  • The funds are for eligible first time home buyers or for those who have not owned a home in the previous 3 years
  • The program is a 2nd mortgage down payment assistance loan up to $10,000, 0% interest rate, forgivable second mortgage loan with a five-year term
  • There is no monthly payment on the down payment assistance loan and 1/5th of the loan is forgiven for 5 years and at that point the loan is fully forgiven
  • The property must remain as your primary residence for those 5 years
  • The down payment assistance loan can be used to cover your closing costs and down payment
  • Max purchase price $283,900
  • Max income for person or persons on the loan in Jefferson County is $117,250
  • The down payment assistance loan must be used in conjunction with KY Housing first mortgage program (conventional or FHA)
  • Minimum 640 credit score to be eligible but we can generally provide advice how to improve your score to that level if needed
  • The property (new or existing) must be located in one of these four counties:
    • Jefferson
    • Christian
    • Hardin
    • Kenton
    • Other counties are not eligible for this specific program but there is a down payment assistance loan for other counties
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, (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.

Equal Housing Lender
NMLS No. 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.

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

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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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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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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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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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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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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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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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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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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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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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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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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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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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201-395311 64 Mossey Oak Rd
Whitley City, KY, 42653
Mccreary County
$95,000 4 1.00 Exclusive  01/03/2017 View Street
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201-396495 470 Poplar Haven Rd
Scottsville, KY, 42164
Allen County
$176,000 4 3.00 Extended  01/02/2017 View Street
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201-401895 6800 Sandstone Blvd
Louisville, KY, 40219
Jefferson County
$80,000 3 1.10 Extended  01/02/2017 View Street
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201-407017 301 E 1st St
Silver Grove, KY, 41085
Campbell County
$105,000 5 2.00 Extended  01/02/2017 View Street
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201-409412 145 Tumbleweed Cour
Elizabethtown, KY, 42701
Hardin County
$170,000 3 2.00 Extended  01/02/2017 View Street
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201-430492 7808 Pleasure Walk Cir
Louisville, KY, 40258
Jefferson County
$77,400 2 2.00 Extended  01/02/2017 View Street
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201-432835 716 Idaho Ln
Owensboro, KY, 42301
Daviess County
$77,000 3 1.00 Exclusive  01/02/2017 View Street
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201-436876 116 Cherokee Dr
West Van Lear, KY, 41268
Johnson County
$152,000 3 2.10 Extended  01/02/2017 View Street
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201-437021 75 Phillips Lane
London, KY, 40741
Laurel County
$75,000 3 2.00 Extended  01/02/2017 View Street
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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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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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201-452225 176 Ratliff Rd
Pikeville, KY, 41501
Pike County
$172,800 4 2.00 Extended  01/02/2017 View Street
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201-454711 2520 W Jarvis Rd
Ashland, KY, 41102
Boyd County
$86,000 2 1.00 Extended  01/02/2017 View Street
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201-456418 102 Forest Hill Dr
Hodgenville, KY, 42748
Larue County
$125,000 3 2.00 Extended  01/02/2017 View Street
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201-462007 129 Bourne Ave
Somerset, KY, 42501
Pulaski County
$90,300 6 2.00 Exclusive  01/02/2017 View Street
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201-471777 60 Cloud Subdivision
London, KY, 40741
Laurel County
$78,300 2 1.00 Extended  01/02/2017 View Street
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201-472986 1107 Donald St
Ashland, KY, 41102
Boyd County
$86,000 3 2.00 Exclusive  01/09/2017 View Street
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201-473861 927 Summitridge Ln
Erlanger, KY, 41018
Kenton County
$126,000 2 2.00 Extended  01/02/2017 View Street
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201-475559 101 Sandy Hills Cir
Corbin, KY, 40701
Laurel County
$95,000 3 2.00 Extended  01/02/2017 View Street
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201-481162 60 Grant Dr
Somerset, KY, 42503
Pulaski County
$116,100 3 2.00 Extended  01/02/2017 View Street
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201-491948 102 Grant Drive
Lawrenceburg, KY, 40342
Anderson County
$80,000 3 1.00 Extended  01/02/2017 View Street
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201-506662 1802 Jefferson Ave
Covington, KY, 41014
Kenton County
$76,000 3 1.10 Extended  01/02/2017 View Street
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201-511886 407 Western Ave
Covington, KY, 41011
Kenton County
$88,000 2 1.00 Exclusive  01/02/2017 View Street
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201-515013 3422 Olive Rd
Louisville, KY, 40219
Jefferson County
$90,000 3 2.10 Exclusive  01/02/2017 View Street
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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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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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201-540500 3841 Carpenter Dr
Owensboro, KY, 42301
Daviess County
$78,000 3 1.00 Exclusive  01/09/2017 View Street
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2019 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 $484,500 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.

 

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2019 KENTUCKY VA LOAN LIMITS
VA has announced loan limit changes for the year 2019. The base limit will be increased to $484,500 for 2019 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
.

 

YES – You CAN Buy a Home OVER $484,500 with a VA Mortgage Loan

KY VA Home loans are zero down payment up to $484,500.  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 $484,500.

So if you were to buy a $517,000 home. There is a $100,000 difference over the zero down maximum $484,000 loan. Therefore you’ll need a down payment of about $25,000.

 

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, (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.