Are you a veteran, active-duty service member, or eligible spouse in Kentucky looking to secure a VA mortgage loan? Joel Lobb, a seasoned mortgage broker, provides valuable insights into what it takes to qualify for a VA loan, covering credit score, bankruptcy, work history, debt-to-income ratio, foreclosure, income limits, loan limits, appraisal requirements, termite requirements, and type of residence. Let’s dive into the details:

Qualifying for a VA Mortgage Loan in Kentucky: A Comprehensive Guide by Joel Lobb

Are you a veteran, active-duty service member, or eligible spouse in Kentucky looking to secure a VA mortgage loan? Joel Lobb, a seasoned mortgage broker, provides valuable insights into what it takes to qualify for a VA loan, covering credit score, bankruptcy, work history, debt-to-income ratio, foreclosure, income limits, loan limits, appraisal requirements, termite requirements, and type of residence. Let’s dive into the details:

Qualification Criteria Requirements

Credit Score

While there is no official minimum credit score requirement, most lenders prefer a score of 620 or higher.

Bankruptcy

Chapter 7 bankruptcy: Generally, two years must have passed since the discharge date.
Chapter 13 bankruptcy: Typically, one year of on-time payments and approval from the bankruptcy court are required.

Work History

Stable employment history with at least 2 years of continuous employment or income sources.

Debt-to-Income Ratio (DTI)

Maximum total debt-to-income ratio typically ranges from 41%, depending on the lender and other factors.

Foreclosure

Generally, two years must have passed since the foreclosure date.

Income Limits

VA loans do not have specific income limits, but income must be sufficient to cover monthly expenses and qualify for the loan amount.

Loan Limits

VA loan limits vary by county in Kentucky. Joel Lobb can provide information on the specific limits for your area.

Appraisal Requirements

The property must undergo a VA appraisal to assess its value and ensure it meets VA standards.

Termite Requirements

A termite inspection may be required for properties in certain areas prone to termite infestation.

Type of Residence

VA loans can be used to finance primary residences, including single-family homes, condos, and certain multi-unit properties.
Joel Lobb understands the nuances of VA mortgage loans and can guide you through the qualification process with expertise and personalized attention. Contact Joel Lobb today to learn more about VA loans in Kentucky and take the first step towards securing your dream home.

Joel Lobb understands the nuances of VA mortgage loans and can guide you through the qualification process with expertise and personalized attention. Contact Joel Lobb today to learn more about VA loans in Kentucky and take the first step towards securing your dream home.

Author: Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans

Thank you for visiting. I hope you find this website both informative and empowering as you explore your mortgage options. My goal is to help you feel confident in selecting the right home loan for your unique situation. I proudly serve all 120 counties in Kentucky, offering a full range of mortgage loan programs, including: FHA Loans VA Loans USDA Rural Housing Loans Fannie Mae Conventional Loans KHC Down Payment Assistance Programs With over 20 years of lending experience, I’ve had the privilege of helping more than 1,300 Kentucky families achieve their homeownership goals. Whether you're a first-time homebuyer or seeking a second opinion, I’m here to offer honest, no-pressure advice—always free of charge. I am dedicated to: Attending as many closings as possible Providing responsive, personalized service Ensuring quick, efficient, and accurate loan processing Making myself accessible every step of the way I've been consistently recognized as a top mortgage loan officer in Kentucky for VA, FHA, USDA, and KHC programs. I take pride in being thorough, transparent, and attentive with each and every client. Please take a moment to read my reviews below. If you have questions or need guidance, feel free to call or text me directly. Call/text at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at kentuckyloan@gmail.com with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer, we offer Kentucky Housing or KHC loans with down payment assistance. This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. NMLS# 57916 http://www.nmlsconsumeraccess.org/ Joel Lobb Senior Loan Officer/p> call/text phone: (502) 905-3708 kentuckyloan@gmail.com Company ID #1738461 EQUAL HOUSING LENDER http://www.mylouisvillekentuckymortgage.com/ View all posts by Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans