VA mortgage refinancing – Page 14 – KENTUCKY VA MORTGAGE LENDER

Can you do a Kentucky VA Cashout Refinance Mortgage Loan Up to 100% of the home’s value?

Does VA allows 100% equity Cash-Out on Refinances for Kentucky VA Mortgages?

Yes is the simple answer, but a lot of VA lenders will only go to 90%, so be careful shopping out there for quotes and qualifying info.

VA allows Kentucky VA Mortgage holders and veterans to finance 100% of the purchase price of a home, but they also allow Kentucky VA Mortgage veterans to take cash-out up to 100% of the value of their home! You are still subject to the funding fee unless disabled, and the cash out maybe limited in hand depending on your credit score.

Cash-Out Refinance up to 100% .Higher Credit Scores may be needed to get cash in hand after paying off existing mortgage. Subject to debt to income limits and acceptable appraisal. VA termite required again.
Min FICO 620 with no bankruptcies or foreclosure last 2 years
Max Loan Amount subject to VA County Loan Limits
0 x 30 days on mortgage in last 12 months
Can pay off existing VA, FHA or conventional mortgage (Note there MUST BE an existing lien against the property)
Must be first lien and owner occupied by the Veteran applicant. (Note: Property may NOT be owned free & clear)
Owner-occupancy cert is required
Properties listed for sale in the previous 6 months, prior to the date of the application (& appraisal) are not eligible

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Joel Lobb (NMLS#57916)
Senior Loan Officer
Text or Call 502-905-3708 cell
kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/

This web site is not the FHA, VA, USDA, HUD or any other government organization responsible for managing, insuring, regulating or issuing residential mortgage loans.

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All approvals and rates are not guaranteed, and are only issued based on standard mortgage qualifying guidelines

Kentucky Refinance Streamline Guidelines for an IRRL

Kentucky VA IRRRL Refinance benefits:
No Income, No Assets, No Appraisal

•	Allowed on 2nd homes and Non-owner occupied proof veteran occupied the property at one time required	•	Refinance of Existing VA loan up to $417,000 (loan amounts are based on VA worksheet)
•	No Appraisal, no income, and no asset documentation – including funds to close	•	Existing Loan Term can be extended up to 30 years
•	Minimum 620 credit score required	•	Reduced guarantee fee of .5%
•	No additional pricing adjustment for VA IRRRL transactions	•	Term reduction allowed on VA IRRRL (payment cannot increase by more than 20%)