Tag: Credit score

100% Financing – No Mortgage Insurance – Seller Concession Allowed


100% Financing – No Mortgage Insurance – Seller Concession Allowed.

via 100% Financing – No Mortgage Insurance – Seller Concession Allowed.

 

100% Financing - No Mortgage Insurance - Seller Concession Allowed

Louisville Kentucky Mortgage Rates


Louisville Kentucky Mortgage Rates.

via Louisville Kentucky Mortgage Rates.

Mortgage rates in Louisville, Kentucky

Kentucky Mortgage  Rates are subject to qualifying criteria and Mortgage Rates can change without notice.
Assumptions include a 640 or higher credit score for FHA, USDA, KHC,  and 620 credit scores for a VA loan. A loan amount of $100,000.00 is assumed and a 30 day lock required for a Kentucky Mortgage Only.

A 720 credit score or higher is assumed for a Kentucky  Conventional Rate Mortgage loanrates and a loan amount of $100,000.00. The loan to value for Kentucky Conventional loans are assumed at 80% ltv or less.

  • The displayed Annual Percentage Rates (APRs) reflect the interest rates, total points, and additional estimated pre-paid finance charges for the loan products shown, but do not include other closing costs.
  • The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  • For loans with less than 20% down payment borrower-paid mortgage insurance may apply.
  • These mortgage rates are based on a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing.

  • FHA

    • Kentucky FHA loans require both an upfront and an annual mortgage insurance premium. The premium varies based on the loan characteristics, your credit score, whether you’ve received loan counseling, and other factors.

  • Jumbo

    • Kentucky Jumbo Mortgage  rates are higher for borrowers who do not meet the criteria for Conventional Mortgage Loans.,; Please contact your home mortgage consultant for details regarding the  criteria or with any other questions.
  •   VA Loans
                Kentucky VA loans require a funding fee upfront paid to VA in the form of mortgage insurance .he premium varies based on the loan characteristics, your credit score, whether you’ve received loan counseling     factors.
  • USDA Loans
                         Kentucky  USDA loans require a funding fee upfront and a monthly mortgage insurance premium paid to RHS/USDA. The premium varies based on the loan characteristics, your credit score,    and other factors.
NMLS# 57916

Free Credit Report and Pre qualifications available anytime. 

Principal

Key Financial Mortgage of KY is a licensed mortgage company in the state of Kentucky (NMLS#1800) Key Financial Mortgage of KY is not a part of, nor are we affiliated with, the VA, FHA/HUD, USDA.  Joel Lobb (NMLS#57916) is a licensed mortgage loan officer in the state of Kentucky.

This website is not an Government Agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. 

Joel Lobb (NMLS#57916)Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Check out our listing ,   Business First Of Louisville

 

WHAT IS A VA-GUARANTEED LOAN?


 

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WHAT IS A VA-GUARANTEED LOAN?

 
A VA-guaranteed loan can be used to:
 buy a home, either existing or pre-construction, as a primary residence
 refinance an existing loan
BENEFITS OF A VA-GUARANTEED LOAN:
 Equal opportunity for all qualified Veterans to obtain a VA loan
 Reusable
 No downpayment (unless required by the lender or the purchase price is more than the
reasonable value of the property)
 No mortgage insurance
 One time VA funding fee that can be included in the loan
 Veterans receiving VA disability compensation are exempt from the VA funding fee
 VA limits certain closing costs a Veteran can pay
 Can be assumed by qualified persons
 Minimum property requirements to ensure the property is safe, sanitary, and sound
 VA staff dedicated to assisting Veterans who become delinquent on their loan
WHO IS ELIGIBLE?
Generally, the following people are eligible:
 Veterans who meet length of service requirements
 Servicemembers on active duty who have served a minimum period
 Certain Reservists and National Guard members
 Certain surviving spouses of deceased Veterans
Note: There are other groups of individuals who may be eligible. To determine your eligibility, check
eBenefits at www.ebenefits.va.gov, or contact VA Eligibility Center at 1-888-768-2132.
DisabilitiesdeterminedbyVAtoberelatedtoyourmilitaryservicecanleadtomonthlynon‐taxablecompensation,enrollmentinthe
VAhealthcaresystem,a10‐pointhiringpreferenceforfederalemployment andotherimportantbenefits.AskyourVA
representativeorVeteransServiceOrganizationrepresentativeaboutDisabilityCompensation,Pension,HealthCare,Caregiver
Program,CareerServices,EducationalAssistance,HomeLoanGuaranty,Insuranceand/orDependentsandSurvivors’BenefitsKEY UNDERWRITING CRITERIA:
 No maximum debt ratio; however lender must provide compensating factors if total debt ratio
over 41%.
 No maximum loan amount; however, VA does limit its guaranty; Veterans can borrow up to
$417,000 without a downpayment in most of the country. Find out the limit in any county by
visiting: www.benefits.va.gov/homeloans/.
 Published residual income guidelines to ensure Veterans have the capacity to repay their
obligations while accounting for all living expenses.
 No minimum credit score requirement; instead VA requires a lender to review the entire loan
profile to make a lending decision.
 Complete VA credit guidelines are published at www.benefits.va.gov/warms/pam26_7.asp .
HOW DO I START THE PROCESS?
VA provides policy, guidelines and oversight of the program. Lenders provide financing for eligible
Veterans. The guaranty allows Veterans to obtain a competitive loan without a downpayment. Lenders
need a Certificate of Eligibility (COE) to prove your entitlement. Most Veterans can obtain the COE
online through eBenefits (www.ebenefits.va.gov). Lenders also have the ability to request the COE on
your behalf.
VA encourages prospective buyers to talk to several lenders to find one that fits their needs, knows the
VA loan program, and offers competitive rates and terms.
Note: The VA appraisal is not intended to be an “inspection” of the property.
A Veteran should get expert advice from a qualified residential inspection service before
legally committing to a purchase agreement. Veterans are also encouraged to have radon
testing performed.
CAN VA HELP IF I’M HAVING TROUBLE MAKING PAYMENTS ON MY
EXISTING LOAN?
VA Loan Technicians are trained to help Veteran borrowers retain their homes and avoid foreclosure.
Please call toll-free 1-877-827-3702 to speak to a VA Loan Technician.
For More Information, visit Our Web Site at www.benefits.va.gov/homeloans/.

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