Kentucky First Time Home Buyer Programs For Home Mortgage Loans

Conventional Mortgage Loans by Fannie Mae Mortgage credit history for any mortgage which the borrower is obligated as borrower, co-borrower, or co-signer may be considered acceptable if it meets one of the following:  The borrower has made all payments due on time, prior to subject loan Note date, even though the loan was in forbearance, or  The borrower has not made one or more payments due, and the late payments or forbearance has been resolved per one of these acceptable resolution plans: Resolution Plans* Eligibility Requirements Reinstatement ▪ Any missed payments must be made ▪ Funds to reinstate after application must be documented from eligible source ▪ Funds from the current transaction may not be used to reinstate mortgage Repayment Plan ▪ Must have made 3 timely** payments under the repayment plan, or ▪ Repayment plan has been completed ▪ Funds from the current transaction may satisfy the existing mortgage in full Payment Deferral ▪ Must have made 3 timely** payments after...