As a current resident of Prospect Kentucky and Oldham County, I look forward to meeting your mortgage needs locally. I specialize in Fannie Mae, FHA, VA, Kentucky Housing, USDA RHS, and Jumbo Mortgage loans, offering same day free pre-approvals. I hope you find the website informative and educational in making you feel more confident in your choice for the right mortgage. Give me a call locally at 502-905-3708 or email me at kentuckyloan@gmail.com NMLS# 57916
Saturday, August 31, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: 100% Financing Zero Down Payment Financing Kentuck...
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: 100% Financing Zero Down Payment Financing Kentuck...: 100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Kentucky HUD Homes for Sale with the FHA $100 Down... : HUD HO...
Thursday, August 29, 2013
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: HomePath products allow a borrower to purchase a F...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: HomePath products allow a borrower to purchase a F...: HomePath products allow a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no le...
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Wednesday, August 28, 2013
Louisville Kentucky VA Home Mortgage Lender: Kentucky VA Mortgage loans for Active Duty Milita...
Louisville Kentucky VA Home Mortgage Lender: Kentucky VA Mortgage loans for Active Duty Milita...: ACTIVE DUTY MILITARY PAY FOR FORT KNOX KY AND FORT CAMPBELL SOLDIERS AND KENTUCKY VA LOAN REQUIREMENTS Kentucky VA Mortgag...
Louisville Kentucky VA Home Mortgage Lender: Kentucky VA Mortgage loans for Active Duty Milita...
Louisville Kentucky VA Home Mortgage Lender: Kentucky VA Mortgage loans for Active Duty Milita...: ACTIVE DUTY MILITARY PAY FOR FORT KNOX KY AND FORT CAMPBELL SOLDIERS AND KENTUCKY VA LOAN REQUIREMENTS Kentucky VA Mortgag...
Louisville Kentucky VA Home Mortgage Lender: Can you have 2 Multiple Kentucky VA Mortgage Loans...
Louisville Kentucky VA Home Mortgage Lender: Can you have 2 Multiple Kentucky VA Mortgage Loans...: MULTIPLE KENTUCKY VA LOANS The VA does not limit the number of Kentucky VA guaranteed loans a veteran may have, however the VA does limi...
Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone
Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone
Tuesday, August 27, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: The different types of mortgage insurance availabl...
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: The different types of mortgage insurance availabl...: Fill out my form! The different types of mortgage insurance available for Louisville Kentucky Mortgage Loans • ...
Monday, August 26, 2013
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: New FHA Guidelines Shorten Time To Get Back In Hou...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: New FHA Guidelines Shorten Time To Get Back In Hou...: New FHA Guidelines Shorten Time To Get Back In Housing Market « CBS Denver
Kentucky USDA Rural Housing Loans : KY USDA RURAL HOUSING LOAN PROGRAM GUIDELINES
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Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: FHA eases rules for some credit-impaired applicant...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: FHA eases rules for some credit-impaired applicant...: FHA eases rules for some credit-impaired applicants | Inman News FHA eases rules for some credit-impaired applicants AUG 26 Posted by Lo...
Sunday, August 25, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: FHA loans in Kentucky After A Bankruptcy
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: FHA loans in Kentucky After A Bankruptcy: FHA loans in Kentucky After A Bankruptcy FHA Guidelines FHA Mortgage Guidelines Here is my Top 5 List fo...
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Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Development Homes for Sale
Kentucky USDA Rural Housing Loans : Kentucky USDA Rural Development Homes for Sale: Kentucky 60 Properties ALLEN County 736 N. 8th Street 3/1 $31,825.00 Scottsville,KY 42164 View Property Details Fo...
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Saturday, August 24, 2013
Louisville Kentucky VA Home Mortgage Loans: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgag...
Louisville Kentucky VA Home Mortgage Loans: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgag...: Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Louisville Kentucky FHA Loan Streamline Refinance : FHA Loan Streamline Refinance...
Thursday, August 22, 2013
Kentucky USDA Rural Housing Loans : Kentucky USDA Loans | Rural Housing Loans Kentucky...
Kentucky USDA Rural Housing Loans : Kentucky USDA Loans | Rural Housing Loans Kentucky...: Kentucky USDA Loans | Rural Housing Loans Kentucky What are the Kentucky USDA Mortgage Loan Requirements? To decide if you quali...
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Wednesday, August 21, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Louisville Kentucky First Time Home Buyer Programs...
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Louisville Kentucky First Time Home Buyer Programs...: Louisville Ky First Time Home Buyers Kentucky First Time Home Buyer Programs and Resources If you are a potential Louisville Kentuck...
Tuesday, August 20, 2013
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Kentucky USDA Rural Housing Loans : Kentucky Offices Kentucky Rural Development Office...: You are here: Home / Kentucky Offices Rural Development Offices Click here for downloadable map of Kentucky office locat...
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Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: $125,000 Neighborhood DAP Down Payment Assistance ...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: $125,000 Neighborhood DAP Down Payment Assistance ...: Effective with reservations on or after Tuesday, August 20, 2013 ,the Mortgage Revenue Bond (MRB) Special Funding is available to more Ke...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Louisville Kentucky FHA Requirements for First Tim...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Louisville Kentucky FHA Requirements for First Tim...: Louisville Kentucky FHA Requirements for First Time Homebuyers. Down Payments : First-time Louisville Kentucky FHA borrowers ar...
Monday, August 19, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: FHA Approved Condos Louisville Kentucky
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: FHA Approved Condos Louisville Kentucky: If you're searching for Louisville Kentucky FHA approved condos, you came to the right web site. To search for an approved Louisville Ke...
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100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Greater Louisville Kentucky Association of REALTO...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Greater Louisville Kentucky Association of REALTO...: Greater Louisville Kentucky Association of REALTORS® reported strong summer homes sales data for July 2013 The average and median year‐to‐...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Kentucky USDA Rural Housing Loans with no money do...
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Kentucky USDA Rural Housing Loans with no money do...: Kentucky USDA Rural Housing Loans offer borrowers who qualify the opportunity to purchase a home in a designated rural area with no money ...
Homes for Sale - 9226 Featherbell Blvd Prospect KY 40059
Homes for Sale - 9226 Featherbell Blvd Prospect KY 40059
Sunday, August 18, 2013
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Louisville Kentucky FHA Loan Streamline Refinance
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Louisville Kentucky FHA Loan Streamline Refinance: FHA Loan Streamline Refinance Program Is Helping USA Homeowners to Refinance Mortgage with Lower Mortgage Payments (via SBWire ) Market ...
Saturday, August 17, 2013
BANKRUPTCY SHORT SALES FORECLOSURE GUIDELINES FOR A LOUISVILLE KENTUCKY VA MORTGAGE LOAN
2 years seasoning required from Discharge or Dismissal date.
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Borrower must have completed at least 12 months of on-time payments per the plan approved by the Bankruptcy court. In addition, borrower must receive Bankruptcy court approval to enter into the new mortgage loan transaction. | ||
All bankruptcies must meet seasoning requirements and will be reviewed on a case-by-case basis. Borrower’s with multiple bankruptcies are generally not acceptable on manually underwritten loans.
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· 2 years seasoning is required.
· Borrower must have a clear CAIVRS.
· If the foreclosure involved a VA guaranteed loan, the borrower may not have full entitlement available for the new loan.
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· 2 years seasoning is required.
· Borrower must have a clear CAIVRS.
| ||
3 years seasoning is required.
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Joel Lobb (NMLS#57916)
Senior Loan Officer 502-905-3708 cell 502-813-2795 fax kentuckyloan@gmail.com Key Financial Mortgage Co. (NMLS #1800)* 107 South Hurstbourne Parkway* Louisville, KY 40222* |
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Friday, August 16, 2013
Kentucky USDA Rural Housing Loans : Eligible Properties for KY USDA Rural Development ...
Kentucky USDA Rural Housing Loans : Eligible Properties for KY USDA Rural Development ...: Eligible Properties for KY USDA Rural Development loans\ Unless otherwise specifically restricted or not permitted by the a...
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Thursday, August 15, 2013
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Ky First Time Home Buyer Loans
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100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Will Mortgage Interest Rates Dip Again? | Credit.c...
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Will Mortgage Interest Rates Dip Again? | Credit.c...: Will Mortgage Interest Rates Dip Again? | Credit.com Blog
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Wednesday, August 14, 2013
Mortgage Insurance: Why You Have to Pay and When You Can Stop | Money Talks News
Mortgage Insurance: Why You Have to Pay and When You Can Stop | Money Talks News
Read more at http://www.moneytalksnews.com/2013/08/13/mortgage-insurance-why-you-have-to-pay-and-when-you-can-stop/#1X2i31czsv8MCWhY.99
Two types of mortgage insurance
Mortgage insurance is generally either purchased from the Federal Housing Administration or bought privately. For buyers with FHA loans, the U.S. government collects the premium and guarantees the loan. For conventional loans, private mortgage insurance, or PMI, is underwritten by a private company.
Two types of mortgage insurance
Mortgage insurance is generally either purchased from the Federal Housing Administration or bought privately. For buyers with FHA loans, the U.S. government collects the premium and guarantees the loan. For conventional loans, private mortgage insurance, or PMI, is underwritten by a private company.
When it’s required
For a conventional home loan, buyers can ask the lender to drop PMI whenever their loan-to-value (or LTV) ratio reaches 80 percent and the equity equals 20 percent.
To illustrate, if you buy a home that costs $100,000 and put down $20,000, you’ve got an 80 percent loan-to-value and 20 percent equity: no PMI required. Put down just $10,000, however, and you’ve got a 90 percent loan-to-value and only 10 percent equity: PMI required.
Paying down the mortgage until it reaches $80,000 will give you 20 percent equity, but appreciation could also do the trick. If our sample house becomes worth $120,000, for example, even if the mortgage is still $90,000, it would have a loan-to-value ratio of 75 percent ($90,000 divided by $120,000 = 75 percent) and equity of 25 percent. PMI can now be canceled.
There’s also a situation where the lender must automatically cancel the policy, with no action by you. Says mortgage insurer MGIC, it’s:
- On the date the mortgage loan balance is first scheduled to reach 78 percent of original value, based solely on the initial amortization schedule, regardless of the outstanding loan balance AND
- The borrowers are current on the payments required by the terms of the mortgage.
Buy a house with an FHA loan after June 1, 2013? You’re stuck.
For FHA loans with a case number assigned after June 1 of this year, mortgage insurance is required for the life of the loan, regardless of LTV ratios. This means FHA borrowers who don’t put down 20 percent are effectively paying a “low down payment tax.”
The only way out of PMI in those cases is to refinance the house with more than 20 percent equity.
How much does it cost?
Private mortgage insurance rates can vary based upon the down payment and the buyer’s creditworthiness. Premiums usually range from 0.03 percent to 1.5 percent of the original loan amount each and every year, Bankrate says. PMI premiums are baked into monthly mortgage payments. The premiums for FHA-insured loans are set by the federal government.
For buyers who’ve struggled to save a down payment in the first place, monthly mortgage insurance premiums can often stress budgets that are already stretched a bit thin, so it helps to have a clear idea of costs. For an easy-to-use mortgage calculator that includes PMI premiums, check out this estimator by CNNMoney.
Using the example above, if we put $10,000 down on a $100,000 house, CNNMoney’s calculator says our PMI would be $80 per month.
You might be able to deduct it
PMI premiums are tax-deductible in these situations through 2013, says houselogic:
- You got your loan in 2007 or later.
- Your mortgage is for your primary residence or a second home that’s not a rental property.
- Your adjusted gross income is no more than $109,000. The deduction begins to phase out once your adjusted gross income (AGI) exceeds $100,000 ($50,000 for married filing separately) and disappears entirely at an AGI of more than $109,000 ($54,500 for married filing separately).
How to avoid PMI
It’s simple: Put up at least 20 percent of the purchases price of your home.
Another route is to get what’s called a piggyback loan in addition to your first mortgage, so that your down payment and the second loan add up to 20 percent of the purchase price. However, Investopedia warns:
Of course, there is a catch. Very often the terms of the piggyback loan are risky. Many are adjustable-rate loans, may contain balloon provisions, and are due in 15 or 20 years (as opposed to more conventional loans which are due in 30 years).
Getting a piggyback loan also typically requires excellent credit.
Sunsetting your PMI
Discontinuing PMI can get sticky. Federal law requires non-FHA lenders to automatically cancel PMI premiums when a borrower’s balance reaches 78 percent LTV as determined by the loan’s amortization schedule. But you can also ask your lender to drop PMI when you’ve reached the 80 percent LTV mark. As mentioned above, this can happen with a combination of events:
- You make extra payments on the principal.
- Your house goes up in value, either because of market trends or improvements you’ve made. “Consider getting an appraisal of your property if either of these causes your home’s loan-to-value ratio to drop significantly (remember, in this case, a decrease is a good thing),” Realtor.com says.
PMI pros and cons
The advantage of PMI is straightforward: Buyers are able to seize a homebuying opportunity they may have otherwise missed by waiting until they’d saved a 20 percent down payment.
The cons? In addition to the extra cost, where payments aren’t automatically canceled, failing to act means premiums could roll on month after month, year after year, and end up wasting thousands.
And canceling PMI before the mortgage amortization reaches 78 percent means jumping through hoops. For example, if your equity increases through a rising market or improvements to your home, you’ll have to prove it by paying for an appraisal, then filling out any forms required by your lender. Many don’t make the process easy.
The bottom line
If you’re planning to purchase with less than 20 percent down, understand how PMI works, what you’ll pay, and the requirements to make it stop. Explore piggyback loans, and compare the added interest you’ll pay on a second loan with the cost of PMI.
And don’t feel too bad about paying for a policy you don’t get to shop and get no protection from. Because it reduces lender risk, mortgage insurance is the only way many dreamers become owners.
Karen Datko and Stacy Johnson contributed to this post.
Read more at http://www.moneytalksnews.com/2013/08/13/mortgage-insurance-why-you-have-to-pay-and-when-you-can-stop/#1X2i31czsv8MCWhY.99
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Tuesday, August 13, 2013
Kentucky USDA Rural Housing Loans : A Complete Guide to Closing Costs
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Sunday, August 11, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Minimum Credit Score Needed to Buy a House
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Saturday, August 10, 2013
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Thursday, August 8, 2013
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Kentucky HUD Homes for Sale with the FHA $100 Down...
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Wednesday, August 7, 2013
Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Bullitt County Kentucky Fannie Mae Homepath Homes ...
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Tuesday, August 6, 2013
Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Non-reimbursed Business Expenses for a Kentucky ...
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Monday, August 5, 2013
100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Louisville Kentucky Mortgage Loan Guidelines for F...
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Saturday, August 3, 2013
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Friday, August 2, 2013
Thursday, August 1, 2013
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