100% Financing Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers

Benefits available through the VA loan program for Kentucky Veterans Benefits offered through the Kentucky VA loan program include purchase loans to help you buy a home at a favorable interest rate, cash-out refinance loans which allow for cash withdrawals from your home’s equity to pay for other needs, and Interest Rate Reduction Refinance Loans (also called IRRRLs or streamline refinance loans) to help homeowners refinance an existing VA loan to a lower interest rate or more favorable terms. You may not receive cash out proceeds from an IRRRL. Who is eligible for a Kentucky Home VA loan? Veterans aren’t the only ones who can qualify for Kentucky VA loans. Y ou may also be eligible if you are a current or former National Guard or Reserve member, an active duty servicemember or an eligible surviving spouse. The specific benefits available will be determined by the VA based on the amount of time you (or your spouse) served or service commitment, your duty status and your character o...

100% Financing – No Money Down Home Loans For today’s home buyers with good credit and a steady income, there are several no down payment mortgage programs available which offer 100% financing for purchase so you can buy a home or even refinance.  We can explain your options for how to buy your first home with no money down and determine if a no down payment mortgage is right for you. VA Loan for Kentucky Active duty and  Veterans Must be primary residence and have a VA COE  VA loans are typically the best loan option for first time home buyers if one of the borrowers is a veteran Can be used to purchase a house for your primary residence, as well as, to refinance for cashout Learn more about Kentucky VA Loans Kentucky USDA Rural Development Loan USDA Rural Development is typically the best home loan option for first time buyers that are  in a rural area and  the property is in an eligible rural area with household income limits for Kentucky Home buyers making l...

Minimum History of Employment A minimum of 2 year history in the same industry/line of work is required in most instances but it’s not a universal rule. Recent graduates can satisfy the two year requirement by providing proof of schooling with a degree for the line of work you are now employed in. Active duty members do not need a two year history as long as the minimum service requirement for eligibility has been met. Self employed borrowers must always have a two year history of self employment and must show a two year history of filed tax returns to meet the 24 month requirement. Income Calculations If you are salaried, your base income will be used to qualify you for the loan. However, if you are an hourly employee with varied hours, more than likely, your income will be averaged over an extended period such as 18 or 24 months depending on the situation. Overtime, bonuses, commission and part time employment must have a 24 history in order to be included in the qualifying income. T...

If you or your spouse has ever served or is currently serving in the military, you may be eligible for a Kentucky VA loan. This type of VA mortgage loan is guaranteed by the U.S. Department of Veterans Affairs (VA), a federal agency that focuses on assisting military families and active duty soldiers in Kentucky buy a home going no money down with a low 30 year fixed rate loan. It's designed specifically to help Kentucky Mortgage veterans, as well as surviving spouses, purchase a home, posing several advantages to applicable borrowers. Benefits of a Kentucky VA Loan   1. No Down Payment Needed... Kentucky VA loans  do not require a down payment, although having some money to put down is always helpful. This can save you thousands of dollars, and since it greatly reduces the upfront cost of purchasing a property, buying the home of your dreams is that much easier. 2. Neither is Private Mortgage Insurance With various other home loans, you are obligated ...

Louisville Kentucky Mortgage Loan Guidelines  Mortgage Programs Allowable Home Use Max Loan to Value (LTV) Max Loan Amount Minimum Credit Score Max  Debt to Income (DTI)  Monthly Mortgage Insurance  KY  Conventional Home Loan Primary Second Investment Primary: 95% Second: 90% Invest.: 85% $510,400 620 50% Yes, over 80% LTV KY  FHA Home Loan Primary 96.5% $336,700 KY FHA County Loan Limits 580 31/55% Yes KY  VA Home Loan Primary 100% none KY VA County Loan Limits 580 55% No KY  USDA Home Loan Primary 100% none 620 29/45% yes