What it was then: You could get a mortgage with zero downpayment which meant the lenders would provide a mortgage for 100% of the purchase price.What it is now: You must have at least 5% of the purchase price as a down payment from your own resources, a gift from relatives or borrowed via a … Continue reading Mortgage Rule Changes: A year later
FHA Facts.... via FHA Facts.... acts you probably didn’t know about FHA loans Traditionally FHA mortgages were used to help first time home buyers with non-traditional credit backgrounds. However FHA mortgages have increased in popularity over the last few years. The low 3.5% down payment has helped buyers with limited savings to get into a … Continue reading FHA Facts…
The Top 5 Ways to Get a Stress-Free Mortgage. “Low Rates and Fast Closings!- Honest, Friendly local advice.” Mortgage Broker or Lender at Key Financial Mortgage of Kentucky NMLS #1800 Louisville, KY License: NMLS #57916 (502) 905-3708 Contact Me Find me online KentuckyLoanhttp://louisvillemortgageguide.comhttp://kentuckyusdaloan.comKentucky FHA loan GuideKentucky First Time Home Buyer … Continue reading The Top 5 Ways to Get a Stress-Free Mortgage
What Lenders Are Looking For When Pre-Approving Borrowers. 1. High Credit Score One of the first things a lender does is run a buyer’s credit report, which shows the lender how likely it is that the buyer will repay the mortgage loan on time. Typically, lenders obtain a buyer’s FICO score from the credit report … Continue reading What Lenders Are Looking For When Pre-Approving Borrowers
KHC Loan Programs. KHC Loan Programs KHC Loan Programs KHC offers two different funding sources: MRB and Secondary Market. MRB FUNDING SOURCE All MRB Kentucky Housing first mortgage loans are for a 30-year term at a fixed rate of interest. The home you purchase through Kentucky Housing must be the only residential property you own and you … Continue reading KHC Loan Programs
Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 