I have successfully originated over 200 VA Home loans in Kentucky. Put my experience to work for you. Call or text me today at 502-905-3708 or email me at Kentuckyloan@gmail.com-This website is not affiliated with the VA or any other government agency. NMLS #57916 Equal Housing Lender. Same Day Approvals, Fast Closings, and a Local Veteran offering VA Home Loans in Kentucky. Free Credit Report and Pre-Approvals NMLS# 57916 Joel Lobb Loan Originator, Company NMLS ID 1738461 . Equal Housing Lender
Category: kentucky va mortgage refinance guidelines
Here are 10 facts about Kentucky Mortgage VA Loans you might not have known.
Kentucky Mortgage VA Loans do not have a maximum loan limit. The Veteran can qualify for up to $2-3 million they may need to put down payment in depending on the entitlement they have.
VA manual underwriting is 0 x 30 in the last 12 month on revolving and installment credit. We can ignore credit over 12 months old.
Kentucky Mortgage VA Loans DTI is up to whatever DU/LP will approve. On manual underwriting will do up to 50% with 120% residual income.
Kentucky Mortgage VA Loans does not have an identity of interest guideline. VA allows non-arm’s length transactions.
Kentucky Mortgage VA Loans does not have a flipping rule. If the value can be supported with an appraisal and there is no indication of inappropriate behavior ok to proceed.
Seller can pay more than 4% concession/closing costs.
Kentucky Veterans with entitlement that has been previously used can use their additional 25% to obtain 100% financing.
VA disability can be grossed up 125% Kentucky Mortgage VA Loans
VA allows no score with alt trades.
Kentucky VA Mortgage Loans require 2 years out of bankruptcy for Chapter 7 and 1 year for Chapter 13 bankruptcy
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
KENTUCKY VA MORTGAGE LENDER 
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