How to qualify for a Kentucky FHA loan


To be eligible for a Kentucky FHA loan, Kentucky mortgage borrowers must meet the following lending guidelines: Have a FICO score of 500 to 579 with 10 percent down, or a FICO score of 580 or higher with 3.5 percent down. Have verifiable employment history for the last two years. Have verifiable income through pay … Continue reading How to qualify for a Kentucky FHA loan

Which Credit Score is used for a Kentucky Mortgage Loan Approval?


Credit score used for a Kentucky Mortgage Loan Approval for FHA, VA, USDA Rural Housing, KHC Down payment assistance FAnnie Mae

 No Money Down with a Conventional Loan from Kentucky Housing Down Payment Assistance​​


Buying a Kentucky Home No Money Down with a Conventional Loan from Kentucky Housing Down Payment Assistance​​

Kentucky VA Mortgage Qualifications for 2022


Kentucky VA Mortgage Loans What are VA Home Loans? VA Loans provide military veterans and current service members a distinct advantage when it comes time to purchase or refinance a home. Today's VA Loans have the most favorable terms available for most veterans. VA Loans can be used to purchase a new home with no … Continue reading Kentucky VA Mortgage Qualifications for 2022

Kentucky Rural Housing USDA Loan Student Loan Debt Calculations


FHA, VA, USDA, Conventional, and KHC Zero Down Payment Home Loans

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky USDA Mortgage Lender for Rural Housing Loans

For potential home buyers with student loans that are either in a deferred payment status or being paid back through an income based or graduated repayment program, the treatment of this liability needs to be considered. When student loan debts are not currently being paid upon, due to the loan applicant still being in school or recently graduating from school, the monthly liability will be calculated based on the lower of 1/2 of 1% of the outstanding loan balance or the monthly payment listed on the credit report. Example if you owe $100,000 in student loan debt the monthly payment will be $500. Also, if the student loan is being paid upon, but at a lesser amount than originally agreed, such as the payment being determined based on repayment ability (i.e. Income Based Repayment Plan), the monthly payment will be calculated the same as above (monthly liability = 1/2 of…

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