KENTUCKY VA LOAN FEATURES ✓ Up to 100% financing available** ✓ No monthly private mortgage insurance ✓ Seller concessions up to 4% of the reasonable value of the property ✓ Credit scores as low as 580 FICO in Kentucky ✓ Must be a veteran, active duty or reserve member to be eligible ✓ Manufactured homes … Continue reading KENTUCKY VA HOME LOANS
Kentucky VA loans are typically the best solution for our honored veterans and service members. Contrary to popular belief, VA loans are fairly easy to process and tend to not be any more complicated than any other loan program that we offer.
Here are some of our favorite features of Kentucky VA loans:
No Down Payment – VA is a true 100% financing loan with no minimum investment required.
No Monthly Mortgage Insurance – VA loans do not require monthly mortgage insurance, providing significant cost savings to our Veterans. They do require an upfront Funding Fee of 0 to 3.6% that is paid directly to the VA. This funding fee is financed into the loan and may be waived for some buyers based on their scenario.
Credit scores – Interest rates and underwriting requirements are less credit score sensitive than other loan programs. In some scenarios, we are able to lend to buyers…
If you’re a veteran interested in refinancing your Kentucky VA home mortgage, you should look into a VA Streamline loan, also known as a VA to VA loan or Interest Rate Reduction Refinancing Loan (IRRRL). The key aspects of VA Streamline loans are:
• You must be a veteran to qualify.
• You must have already used your original VA benefit.
• No minimum credit score required, just a good pay history on the mortgage for last 12 months
• Refinancing should lower your interest rate or change an adjustable rate mortgage (ARM) to a VA Streamline.
VA loans help active duty, reserves, and veterans buy a house with no down payment and no mortgage insurance monthly making it one of the best loans out there while getting a low 30 year fixed rate loan based on market trends.
VA loans help you buy a home with limited credit or no credit if you can provide alternative trade lines
The VA loan program makes it possible to purchase a home with as little as 0 percent down and with a lower credit score than required by traditional mortgages.
VA loans are not just for first-time home buyers, and they’re not restricted to low-income applicants. Here are the requirements you’ll need to meet to qualify for an VA loan
1. Consistent income and work history for last two years to support mortgage payment
Kentucky VA loans are typically the best solution for our honored veterans and service members. Contrary to popular belief, VA loans are fairly easy to process and tend to not be any more complicated than any other loan program that we offer.
Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 