Kentucky VA Loan Guidelines

VA Home Loan Advantages


Kentucky VA Loans for Kentucky First-Time Home Buyers
Are you a Kentucky first-time home buyer and also a veteran? Get approved for $0 down mortgage financing anywhere in Kentucky and up to $453,100 in financing on A VA Mortgage loan.

In this Kentucky VA Mortgage blog, we will walk you through the three-step process to get approved and close on your KY VA Loan as well as some other key information about confirming your VA Eligibility, finding a realtor, and associated costs.

rgarzahomes's avatarRichard Garza Homes

This last Memorial Day, my family was having a cookout with my granddaughter and her fiancee. They both qualify for VA Home loans and she asked my what some of the advantages of a VA Home loan over a conventional loan.

I produced this short video outlining the advantages of a VA Loan. This is the first in a series of short clips on the specifics of the VA Home Loan.
If you know anyone who qualifies for a VA Home Loan, please share. As a Veteran myself, this is one of the better benefits we get.Image

 

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Kentucky VA Loans for Kentucky First-Time Home Buyers


 

Why get a VA loan over other types?

Kentucky VA Loans for Kentucky First-Time Home Buyers

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In order to get you pre-approved, I will need the following items from you. This is a free process and I will give you a copy of your credit report for free.

Kentucky VA Loan Mortgage Pre-Approval Checklist

  • one full month’s worth of pay stubs
  • Last 2 years W-2′s
  • Last 2 years tax returns 
  • Your  VA Certificate of Eligibility (we can help you get this if needed, just need your dd214) 
  • Last two months bank statements for all accounts

Once I get the information above, I can usually get you pre-approved in one day, and get your loan closed in 30-45 days after you get an accepted offer on a home.

Your first house payment usually starts 30-60 days after you close.

Your loan pre-approval is usually good for 60 days.
I don’t need originals, copies are fine. You can fax or email  me the above documents,  or meet me face-to-face if you wish to make copies and go over your options.

Let me know your questions.

Thanks and look forward to helping you.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

 

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/

— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

Kentucky VA Loan Refinance and Purchase Guidelines


Kentucky VA Loan Refinance and Purchase Guidelines

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarLouisville Kentucky Mortgage Loans

 

How do I refinance using my Kentucky VA Home Loan?

You can use your Kentucky VA home loan benefit to refinance your existing VA home loan to a lower

interest rate, with little or no out-of-pocket cost. This is called an Interest Rate Reduction

Refinancing Loan (IRRRL), also known as a “rapid refinance” or a “streamline refinance.”

Generally, no appraisal, credit information, or underwriting is required for this refinancing

option, although some lenders may require an appraisal and credit report. The fees and

charges associated with the refinancing loan may be incorporated into the new VA loan.

Remember: The interest rate on the new loan must be lower than the rate on the old loan

(unless you refinance an adjustable-rate mortgage to a fixed-rate mortgage).

To receive an IRRRL, work with your lender to process your application. It’s generally a good

idea to compare several lenders’ rates…

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