Tag: kentucky va

List of Government Foreclosed Homes in Kentucky to include VA, FHA, HUD, Fannie Mae and USDA


 
 

Several federal agencies have properties to sell. In fact, HUD sells both single family homes and multifamily properties. Check them out- one might be just what you’re looking for!

Single Family Homes for Sale

Home Loans for Kentucky’s Military Veterans


Home Loans for Kentucky’s Military Veterans

Kentucky Housing Corporation (KHC) has $3 million available in Mortgage Revenue Bond (MRB), special funding, for active or non-active duty veterans at 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting Wednesday, September 6, 2017, with new reservations.​

FIND A KHC-APPROVED LENDER TO APPLY  

This homeownership program is targeted to:
  • Households whose gross annual income does not exceed $40,000.
  • An existing or new construction property (purchase price limit $130,000).
  • 620 minimum credit score.
  • FHA, VA, or RHS first mortgage options.
  • Households who include active duty or non-active duty veterans. Documentation may include but not limited to:
    • Leave and Earnings Statement (LES)
    • DD214 – Discharge from Active Duty
    • VA Award Letter
  • Must meet insuring agency guidelines.
  • Available statewide.
Down payment Assistance Programs (DAP) available up to $6,000. Qualifications apply.

How to Apply

For all KHC loans, a home buyer must apply through a KHC-approved lender. We partner with approved lenders across the state to provide you with the best mortgage loan options. By doing this, the buyer will know how much house they can afford based on income and debts. KHC’s loans are subject to certain restrictions that the lender will see if meet the qualifying guidelines. Additionally, the lender will be able to recommend any KHC down payment assistance for which you may qualify.
APR 3.058%  – based on $130,000 FHA loan at 2% interest rate.
Operation KY Home – MRB Special Funding Program
KHC has $1.8 million available in MRB, Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis.
More information is available at www.OperationKYHome.com.

Kentucky Refinance Streamline Guidelines for an IRRL


Kentucky VA Streamline
Kentucky VA Streamline

 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%)

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Joel Lobb
Senior  Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346

 CONFIDENT