What Paperwork Will I Need? Minimum Documentation List Last 30 days pay stubs for all borrowers Last 2 years w2 statement for all borrowers Last 2 years tax returns, all schedules Minimum: Verbal of source cash to close will come from (assets, gift, equity) Additional Documentation – Verbal of balances ok to start Last 60 days … Continue reading What paperwork is needed for a Mortgage Loan Pre-Approval in Kentucky?
Borrow up to 100% of the home’s value. Unlike other programs that only allow 80% or 85% of the home’s value.
No Income or Asset verification is required. We don’t need your paystubs, w-2’s tax info, or bank statements. Much easier qualifying.
No Appraisal is required (unless Discount is being charged to borrower – see below)—-VA does not require a new appraisal. So even if your home has not equity or went down in value, we can go off on old value when doing a rate and term with no cash back.
No Credit Qualifying. Meaning we don’t have to repull credit again and check your fico scores. Just verify your last 12 months mortgage history is on time.
VA Funding Fee is .50%, much less than the 2 or 3% you pay when you buy the home, If disabled, you will not have to…
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About two months ago a couple was referred to me that had been turned down by several agents and mortgage lenders. Both had credit scores in the low 500s.
I had one of my preferred lenders pull their Trimerge credit report. After reviewing the report things weren’t as bad as it appeared on the surface. I meet with the couple and gave them a plan of action. I estimated that if they followed my instructions to the “T” it would raise their credit score 80 – 100 points.
Today I met with the couple, they had followed my instructions, and now their scores are now in the mid 600s and have been prequalified for a FHA loan by a Florida Housing approved lender. There still work to do, but if they continue the plan I gave them their scores should be in the high 600s within the next…
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Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 