Tips to ensure your mortgage closes smoothly:
Credit Cards / New debt: Once you have applied for a mortgage, do not apply for new debt or credit cards, even if you do not plan to use them until after settlement. When you buy a home, you will undoubtedly buy items for that home; please wait until after you own the home!
Review your credit report: Be proactive in the process by thoroughly reviewing your credit report with me at the beginning of the process and report any inaccurate or missing information so that we can address it accordingly. What is missing on your report today could show up later and derail your closing.
Save everything: Save all of your bank statements, paystubs and credit card statements from time of application until closing. We may need them.
Do not pack your financial papers: Keep all tax returns, W-2’s, paystubs, 1099’s, K-1’s, bank statements etc… in an accessible place – not in POD somewhere in Timbuktu. You never know what you may have to provide at the last minute with the new guidelines. Be prepared!
Gift Funds and Large deposits: Based on the new rules, we will need a more detailed paper trail on gift funds and large deposits that are not consistent with your normal deposit pattern. If you are receiving a gift, we will need to verify that you have received it and that the donor has the ability to give those funds. Large deposits will have to be sourced; be prepared to show and explain where that money came from. If it was from a bonus, have the check ready. If you sold a car, have the bill of sale and a copy of the title transfer.
Changing Jobs: This one may seem obvious, but if you are planning to change jobs during the loan process, please inform me ASAP. If you are forced to change jobs, inform me immediately. You will sign a final application at settlement. When you sign it, you will be verifying the information that it contains. Do not commit mortgage fraud.
Do not move cash around: Lenders must verify all funds for closing and the source of those funds. When you move those assets around, it creates a paper trail nightmare. The best practice is to leave everything where it is. Once we have verified all accounts and given you the ”ok” , then you can commence shuffling funds.
Finally, when in doubt, contact me to ask. Do not take any chances with the approval of your loan. If additional verification is required, it will in most cases, delay your closing.
Mortgage Documents Needed for a Kentucky Mortgage Loan Approval on Application
When applying for a mortgage loan in Kentucky, it's essential to follow the right steps to ensure a smooth approval process. Here are some important Do's and Don'ts to keep in mind during your mortgage application:
DO's
Keep Originals and Financial Documents:
Ensure you can access all pay stubs, bank statements, and other critical financial records. These mortgage documents are often needed for a Kentucky mortgage loan approval on application.
Provide Earnest Money Deposits Properly:
Use your personal bank account or acceptable gift funds for earnest money deposits. Consult your loan officer for clarification to avoid issues later.
Submit All Sale Documentation:
If you’re selling a current home, provide documents like the sales contract, closing statement, or details about relocation/buy-out programs. These are key mortgage documents needed during the Kentucky mortgage loan application process.
Notify Your Loan Officer About Gift Funds:
If you plan to receive gift funds for your down payment, notify your loan officer. Gift funds must meet certain criteria, such as a documented gift letter, to be accepted during the mortgage approval.
Inform About Financial Changes:
Notify your loan officer of any financial changes, including salary increases, bonuses, or commissions. This ensures your updated financial profile aligns with the loan requirements.
Be Aware of New Credit Reports:
A new credit report may be pulled just before closing. Maintaining stable finances is critical to ensure no surprises affect your Kentucky mortgage loan approval on application.
DON'Ts
Do NOT Close or Transfer Accounts:
Avoid closing or transferring bank accounts without consulting your loan officer. Proper documentation is required when funds move between accounts to ensure your mortgage approval process remains smooth.
Do NOT Deposit Large Sums Without Notification:
Avoid depositing large sums of cash or other funds without notifying your loan officer. You must provide supporting documentation, as unverified deposits can cause issues.
Do NOT Change Jobs:
Changing jobs during the mortgage process can affect your loan approval. Always discuss job changes with your loan officer beforehand.
Do NOT Make Major Purchases:
Avoid large purchases like cars, furniture, or appliances during the mortgage approval process. These can increase your debt-to-income ratio and impact your eligibility for a Kentucky mortgage loan approval.
Do NOT Open New Credit Lines:
Refrain from opening new credit cards, loans, or co-signing for someone else. New liabilities could delay or prevent your loan approval.
1 - 
Email - kentuckyloan@gmail.com
Email - kentuckyloan@gmail.com 2. 
Call/Text - 502-905-3708
Call/Text - 502-905-3708Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans
Website: www.mylouisvillekentuckymortgage.com
Address: 911 Barret Ave., Louisville, KY 40204
Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916
For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.
