Category: Guide to Kentucky VA Loans

FREQUENTLY ASKED QUESTIONS FOR KENTUCKY VA MORTGAGE LOANS

KENTUCKY VA MORTGAGE LOANS


Kentucky VA Mortgage Lender
502-905-3708
What Does Having Basic Entitlement of $36,000 Mean?
The $36,000 does not represent the maximum loan amount you can obtain through the VA Home Loan Program. The figure merely provides evidence to your lender that you have full VA entitlement.
With this entitlement and underwriter approval, you can obtain a loan,
I Now Have My COE, What Do I Do Next?
 Contact any VA approved lender and start the loan process. Do note that the COE does not guarantee you a VA loan; you still must qualify based upon your income and credit.
 
How Do I Apply For a Loan?
VA does not do any direct lending, and as such VA does not accept loan applications from veterans. You must contact a VA approved lender in order to apply for a VA loan. For more information about VA loans, visit www.benefits.va.gov/homeloans/.
 
 
What is the VA Interest Rate?
VA does not establish interest rates or closing costs for VA loans. Rates are negotiable between you and your lender. It is advisable to obtain quotes from at least three different lenders.
What is the Minimum Credit Score Required for a VA loan?
VA has no minimum credit score requirement. However, the lender you choose to do business with may have such a requirement.
 
What Types of Property Does My COE Cover?
The VA Home Loan program guarantees loans for real property that is to be used by the veteran as a primary residence. The program does not cover vacation homes, vacant land, multiplexes in excess of four units, motor-homes, small business loans, or commercial buildings.
 
Can I Use My VA Entitlement to Refinance?
Yes. You can refinance any type of loan on your property using your VA entitlement.
 
 
Why Does My COE Reflect a Paid-in-Full Loan With No Restoration of Entitlement?
In order for entitlement to be restored, the prior VA loan must be paid in full and the property disposed of. If you no longer own the property, please state as such on your application form 26- 1880 and resubmit. Do note that you can obtain a restoration of entitlement without disposing of the property when the loan is paid in full on a one time basis
Joel Lobb
Senior  Loan Officer
(NMLS#57916)
text or call my phone: (502) 905-3708
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
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I have originated over 125 Kentucky VA Mortgage loans in my career. As a former Army Tanker, put my experience to work for you. I offer free VA Home loan approvals & local service. I hope you find this website informative and hope it can give you more confidence as you shop for your next Kentucky VA loan. I can be reached locally in Louisville Kentucky Text/call 502-905-3708 NMLS 57916 Equal Housing Lender. Not affiliated with VA or any other government agency

 
 

 

Louisville Kentucky VA Approved Condos for Jefferson County KY

Louisville Kentucky VA Approved Condos for Jefferson County KY


Louisville Kentucky VA Approved Condos for Jefferson County KY
Joel Lobb (NMLS#57916) Senior Loan Officer 502-905-3708 cell 502-813-2795 fax jlobb@keyfinllc.com Key Financial Mortgage Co. (NMLS #1800)* 107 South Hurstbourne Parkway* Louisville, KY 40222* http://mylouisvillekentuckymortgage.com
Your search returned 87 records.
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Condo Name ID Record Type
ANDERSON PARK CONDOMINIUM 000004 Condo
ARBOR CREEK CONDOMINIUMS H00212 Condo
ARBOR CREEK CONDOS II H00306 Condo
AUTUMN TRACE CONDOMINIUM H00282 Condo
BAXTER PLACE CONDOMINIUMS H00309 Condo
BRADFORD COMMONS CONDO H00319 Condo
BRADFORD COMMONS CONDOS 000001 Condo
BRITTANY POINTE CONDOMINI 005775 Condo
BROWNSBORO VILLAGE COURT H00398 Condo
CARRINGTON GREENE COURTYARD 000012 Condo
CHAMBERLAIN SQUARE CONDO H00614 Condo
COPPERSHIRE CONDOMINIUM 005613 Condo
COTTONWOOD CONDOMINIUM H00053 Condo
CREEKWOOD TERRACE H00095 Condo
CRESCENT CONDOS VAC028 Condo
CROSSINGS @ COOPER CHAPEL H00155 Condo
DARNELL MANOR CONDOMINIUM H00368 Condo
DONARD PARK CONDOMINIUMS 000003 Condo
DORSEY HILLS CONDOMINIUM H00199 Condo
DORSEY VILLAGE 005601 Condo
EAST HAMPTON H00693 Condo
EVERETT PLACE CONDOMINIUM 005724 Condo
EVERGREEN POINT CONDO H00637 Condo
FOREST PARK CONDOS H00096 Condo
FOX HOLLOW CONDOMINIUM H00634 Condo
GARDENS AT BAY RUN CONDO H00639 Condo
GLENVIEW EAST 005674 Condo
GRAYSTONE MANOR H00070 Condo
HARRODS LANDING CONDOMINI H00464 Condo
HAWTHORNE POINTE CONDOS H00134 Condo
HIGHWOOD H00211 Condo
HIKES PARK TOWNHOMES H00066 Condo
HITE AVENUE GARDENS 005801 Condo
INDIAN RIDGE CONDOMINIUMS H00358 Condo
LAKEVIEW VAC010 Condo
MAGNOLIA PLACE 005597 Condo
MANNER POINTE 000013 Condo
MERCANTILE GALLERY LOFTS 000015 Condo
MOSS CREEK CONDOMINIUM H00294 Condo
PARK CENTRAL VAC101 Condo
PARK LANE CONDOMINIUM H00179 Condo
PINNACLE GARDENS H00111 Condo
REGENCY THREE CONDOMINIUM 005892 Condo
RIVER POINTE PATIO HOMES CONDO 000017 Condo
SALEM SQUARE CONDOMINIUM H00067 Condo
SHELBY CROSSING CONDOMINI H00344 Condo
SHELBY CROSSING CONDOMINIUMS 000006 Condo
SOUTH HALL CONDOMINIUMS 005723 Condo
SPRING DRIVE CONDO 005656 Condo
SPRINGS OF GLENMARY H00217 Condo
SPRINGS OF GLENMARY VLLGE 005612 Condo
ST ANTHONY’S LANDING H00194 Condo
STONEHENGE CONDO 005602 Condo
SWAN POINTE CONDOMINIUMS H00586 Condo
THE CLIFF VIEW TERRACE CO H00587 Condo
THE COTTAGES @ MEADOWVIEW H00182 Condo
THE FOUNTAINS CONDOMINIUM H00171 Condo
THE GARDENS OF GLENMARY H00272 Condo
THE GARDENS OF MONTICELLO H00609 Condo
THE PARKVIEW CONDOMINIUMS H00258 Condo
THE VILLAGE @ WILDWOOD H00088 Condo
THE VILLAGE @INDIAN FALLS H00143 Condo
THE VILLAGE OF WHITE OAKS H00531 Condo
THE VILLAS OF STONY FARM H00288 Condo
THE WOODS OF CRESCENT HIL H00031 Condo
THE WOODS OF CRESCENT HIL H00030 Condo
TIMBERWOOD II 000005 Condo
TREIS CONDOMINIUMS H00058 Condo
VALHALLA VISTA CONDOMINIUMS 000024 Condo
VALLEY FARMS PATIO HOMES 000021 Condo
VILLAGE AT PRESTON CROSSI H00504 Condo
VILLAGE AT WILDWOOD H00125 Condo
WEMBERLY HILL GARDEN HOME VAC143 Condo
WESTPORT GARDENS 000008 Condo
WESTPORT RIDGE CONDO H00629 Condo
WINDSOR GATE CONDOMINIUM H00262 Condo
WISTERIA LANDING CONDO H00535 Condo
WOODMONT H00156 Condo
WOODRIDGE LAKE PATIO HMS H00092 Condo
WOODRIDGE LAKE TOWNHOMES H00093 Condo
WOODS OF ST. ANDREWS H00139 Condo
WOODSPOINTE VAC074 Condo
WORTHINGTON GLEN CONDOS H00162 Condo
WYNDEMERE H00213 Condo
WYSTERIA LANDING CONDOMIN H00351 Condo
YORKWOOD CONDO I VAC013 Condo
YORKWOOD CONDO II VAC016 Condo
 
Related Articles

Kentucky VA Mortgage Sales Concessions – How Well Do You Understand This Guideline?

Kentucky VA Mortgage Sales Concessions – How Well Do You Understand This Guideline?


Kentucky VA Sales Concessions – How Well Do You Understand This Guideline?

Knowing these tips can help you save a loan!

VA limits Sales Concessions to 4%, but there is more to it than that!

What is a Sales Concession that is applied to the 4% limit?

• Buyer’s funding fee

• Prepaid taxes and insurance

• Gifts such as a television or microwave

• Permanent interest rate buy-down points

• Temporary buy-down funds

• Payoff of Credit Balances or Judgments [Yes, you read that correctly]!

HOWEVER……….

Not included in this limit are the following:

•Amounts paid on behalf of the Veteran by the lender or real estate agent.

•Or amounts paid by the seller towards the closing costs.

These amounts can be paid in addition to the Seller Concessions.

Example:

$200,000 loan amount x 4% = $8000 maximum seller concession.

The seller pays $4000 in closing costs [NOT included as part of the seller concession].

The lender pays $1500 in prepaid items [NOT included as part of the seller concession].

The Seller pays off a judgment for the borrower of $5500 [YES, this IS included as part of the seller concession].

The Agent pays $400 for the home inspection [NOT included as part of the seller concession].

So, the Veteran received $11,400 from a combination of the seller, lender, and Agent.

The seller contributed $9500, but only $5500 is considered part of the 4% seller concession limit. The other $4000 is closing costs, which are not included in the seller concession limit.

Therefore, the total seller concession was $5500, which is less than the maximum seller concession of $8000.

The key to VA sales concessions is understanding what IS and IS NOT included in the sales concession limit. Mastering this guideline will help you save a lot of loans!