Kentucky Mortgage Terms to Know

Glossary of Mortgage Terms to Know For A Kentucky Mortgage Loan. ACCRUED INTEREST: Accumulated interest since the principal investment that hasnot yet been paid.AMORTIZATION: Paying off debt, principal and interest, with a fixed repayment schedulein regular installments over a fixed period of time.ANNUAL PERCENTAGE RATE (APR): The annual rate charged for borrowing moneyexpressed as a … Continue reading Kentucky Mortgage Terms to Know

Kentucky First Time Home Buyer Mortgage Guide

There are several alternative mortgage optionsavailable if you don’t have a down payment,haven’t established a strong credit history,or are unable to supply documentation for a“traditional” mortgage. Some options include: DOWN PAYMENT ASSISTANCE (DPA) by KHC These programs often come from states andmunicipalities allowing you to purchase ahome with a smaller down payment. ManyDPA programs come … Continue reading Kentucky First Time Home Buyer Mortgage Guide

Kentucky Home Buyers. Purchase a Home No Money Down.

I can answer your questions and usually get you pre-approved the same day. Call or Text me at 502-905-3708 with your mortgage questions. Email Kentuckyloan@gmail.com Joel Lobb Mortgage Loan Officer Individual NMLS ID #57916 EVO Mortgage 911 Barret Ave Louisville, KY 40204 Company NMLS #1738461 Text/call: 502-905-3708 fax: 502-327-9119 email:kentuckyloan@gmail.com https://www.mylouisvillekentuckymortgage.com/

Self-Employed with Income and Getting Approved for a Home Mortgage Loan in Kentucky?

Self Employed Income for FHA, VA, USDA and KHC Mortgage Loans Guidelines • A borrower is considered self employed if they have 25% or more ownership in a business. • Contract or 1099 employees are self employed borrowers • There are 4 types of self employed business structures o Sole Proprietorships o Corporations o Limited … Continue reading Self-Employed with Income and Getting Approved for a Home Mortgage Loan in Kentucky?

What kind of income is allowed and needed for a FHA, VA, USDA and Fannie Mae Mortgage Loan Approval in Kentucky?

Income and your job history plays a significant role when applying for a mortgage loan and getting approved for one for Kentucky Homebuyers . Mortgage Underwriters from FHA, VA, USDA and Fannie Mae must follow both Fannie Mae and agency guidelines when it comes to documenting and calculating qualifying income for a loan transaction. Income … Continue reading What kind of income is allowed and needed for a FHA, VA, USDA and Fannie Mae Mortgage Loan Approval in Kentucky?