Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Using Gift Money for a Down Payment

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Using Gift Money for a Down Payment: Using Gift Money for a Down Payment Can a family member help you come up with the down payment for a mortgage? If so, are there any lim...

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Credit Inquiry Infographic Slides for YouTube 💳 Hard vs. Soft Credit Inquiries What Kentucky Homebuyers Need to Know Joel Lobb | Kentucky Mortgage Expert Quick Reference Guide 🟢 Soft Pull No credit score impact Pre-qualification only Not visible to lenders No authorization needed 🔵 Hard Pull Required for approval Minor impact (under 5 pts) Visible for 2 years Multiple = 1 (30-45 days) Joel Lobb | (502) 905-3708 🔴 What Is a Hard Inquiry? Used for Official Loan Applications 📋 Requires your authorization 👀 Visible to other lenders 📉 Drops score 3-5 points temporarily ⏰ Stays on report for 2 years ✅ Required for mortgage pre-approval Joel Lobb |...
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5 Things to Know For First Time Home Buyers in Kentucky

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 First Time Home Buyers in Kentucky 1. Do Mortgage Rates Change Daily? Just like the gas prices at the pump,  mortgage rates can change daily or throughout the day.  Typically mortgage rates are published at 10-11 am daily by most lenders and you can lock up through the close of business which is usually around 6-7 PM.  Mortgage rates can change up or down throughout the day based on various financial, economics, and geopolitical news in the US Financial markets and World markets. Generally speaking, good economic news is bad for rates and vice versa, bad economic news is good for mortgage rates.  The good news is this: Once you find a home and get it under contract, you can lock your mortgage loan rate. Typically it takes about 30-45 days to close a mortgage loan in Kentucky, so the typical lock is for 30-60 days. If rates get better you may be able to negotiate a better rate with your lender, but they usually have to improve by at least 25 basis po...
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