100% Financing Zero Down Payment Mortgage Loans for Kentucky Home Buyers. For the first First Time Homebuyer, I hope you find this website educational and informative, giving you the confidence when buying your first Kentucky Home. USDA, VA, KHC, and FHA loans all offer $0 Down Home Loan Options-Text or Call for your free application 502-905-3708- Email Kentuckyloan@gmail.com
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To be eligible for a new mortgage loan, Fannie requires formerly distressed borrowers to show they’ve reestablished their credit after a foreclosure, bankruptcy, preforeclosure sale, or deed-in-lieu. The standard waiting period was two years with a maximum 80 percent loan-to-value ratio and four years with a maximum 90% LTV. Standard eligibility, however, is seven years. In some cases, such as extenuating circumstances where borrowers had a prolonged reduction in income that was beyond their control, they may only have to wait two years with a maximum 90% LTV to get a new mortgage again.
Under the new policy, Fannie has removed the LTV requirements. All loans with application dates on or after Aug. 16 now will have a standard waiting period of four years, and only two years under extenuating circumstance