Author: Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans
Thank you for visiting. I hope you find this website both informative and empowering as you explore your mortgage options. My goal is to help you feel confident in selecting the right home loan for your unique situation. I proudly serve all 120 counties in Kentucky, offering a full range of mortgage loan programs, including: FHA Loans VA Loans USDA Rural Housing Loans Fannie Mae Conventional Loans KHC Down Payment Assistance Programs With over 20 years of lending experience, I’ve had the privilege of helping more than 1,300 Kentucky families achieve their homeownership goals. Whether you're a first-time homebuyer or seeking a second opinion, I’m here to offer honest, no-pressure advice—always free of charge. I am dedicated to: Attending as many closings as possible Providing responsive, personalized service Ensuring quick, efficient, and accurate loan processing Making myself accessible every step of the way I've been consistently recognized as a top mortgage loan officer in Kentucky for VA, FHA, USDA, and KHC programs. I take pride in being thorough, transparent, and attentive with each and every client. Please take a moment to read my reviews below. If you have questions or need guidance, feel free to call or text me directly. Call/text at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications.
Email me at kentuckyloan@gmail.com with your questions
I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer, we offer Kentucky Housing or KHC loans with down payment assistance.
This website is not an government agency, and does
not officially represent the HUD, VA, USDA or FHA or any other government agency.
NMLS# 57916 http://www.nmlsconsumeraccess.org/
Joel Lobb Senior Loan Officer/p>
call/text phone: (502) 905-3708 kentuckyloan@gmail.com Company ID #1738461
EQUAL HOUSING LENDER
http://www.mylouisvillekentuckymortgage.com/
Eligibility Requirements for a Kentucky FHA Loan after September 15, 2015
When applying for eligibility for A Kentucky FHA Loans, There are some factors taken into account:
Credit score 620 and above with the mortgage investors we work with, even though FHA will insured lower credit scores, most mortgage lenders will create overlays
No bankruptcies (Chapter 7) in last 2 years with clean credit afterwards and 3 years after a foreclosure or short sale
3.5% Down payment. Can be gifted or money saved-up or money taken out of 401k or retirement account. No cash gifts or unsourced deposits are allowed for down payment on a FHA loan.
Debt to income ratios can be up to 55% on an Approved Eligible Files but restricted on manual underwrites to 31% and 43% respectively.
Overtime or bonus income needs to show a 2 year history for it be eligible for income qualifying on a FHA loan. FHA underwriters typically will take a 2 year average.
FHA appraisals with the new changes now call for the FHA appraiser to check and review the home more thoroughly, hence the typical costs of a FHA appraisal has gone from $325 to $425 due to more legwork involved on a FHA appraisal.
Any disputes on credit bureau will need to be taken out of dispute status typically for your credit scores to be validated, so please be aware of this.
Rent references are usually not called for unless your file get downgraded to a manual
FHA mortgage insurance the upfront and annual mi monthly fee is for life of loan.
A lender may approve a borrower if: acceptable payment history and no major derogatory credit on revolving accounts in the last 12 months. “Acceptable payment history” means: the borrower made all housing and installment debt payments on time for the previous 12 months, and there are no more than two 30‐day late mortgage or installment payments in the last 24 months. “Major derogatory credit” means: payments made more than 90 days after the due date, or 3 or more payments made more than 60 days after the due date.
Child support income is Allowed If using a voluntary payment agreement, the lender: obtains 12 months canceled checks, deposit slips, or tax returns. For divorce decree, legal separation agreement, or court order if there is evidence of receipt for the most recent 6 months, may use the current payment to calculate income, & if there are not 6 months of consistent payments, may average the income received over the prior 2 years, or less if the income has not been received that long 4000.1 II.A
What Credit Score do You Need to qualify for a FHA VA KHC USDA Kentucky Mortgage
What Credit Score do You Need to Buy a Home? When it comes to mortgages and credit scores, there are two really important questions to ask: –What credit score do I need to qualify for a mort…
Kentucky First Time Home Buyer Education Links
Kentucky First Time Home Buyer Programs 2011
Kentucky Foreclosed Homes Link
kentucky foreclosures
Kentucky Housing Mortgage Rates Louisville Kentucky
Kentucky MCC Program
Kentucky Mortgage Approval
Kentucky Mortgage Credit Grade Guide
Kentucky Mortgage Guidelines updated 2011
Kentucky Mortgage Rates and Home Loan Options
Kentucky Mortgage Rates FHA VA KHC
Kentucky Mortgage Refinance Questions to ask
Kentucky Rural Development Frequently Asked Questions (Real Estate Professionals)
Kentucky State Loan Programs
Kentucky State Mortgage Rates
Assets: Assets are not required; however, any assets disclosed must be supported with appropriate documentation Satisfactory explanation and documentation should be provided for large deposi…
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FHA has announced new loan limits for 2017. For all FHA loans with Case Numbers assigned on or after January 1st, the following will be effective
The minimum national loan limit is being increased to$275,655. No county will have a maximum loan limit lower than this number.
Individual County loan limits can be located here. There were no counties where the loan limit decreased. There were a few where the limit did not change, but the vast majority of counties saw some increase.
FHA High Balance maximum loan limits have increased to coincide with the new FNMA maximum loan limits previously announced.
As of now, FHA high balance pricing will still apply to loans above the previous FNMA loan limit floor. That is, the High Balance FHA Loan Program policy will continue to apply to base loan amounts GREATER than:
Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 