Kentucky First Time Home Buyer Programs For Home Mortgage Loans

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Kentucky FHA Loans and Conventional Mortgage Loans :  What is the difference between Kentucky FHA Loans and Conventional Mortgage Loans?  You know that two of the most popular mortgage options a... What is the difference between Kentucky FHA Loans and Conventional Mortgage Loans?  You know that two of the most popular mortgage options available are FHA and Conventional, but you no doubt have some clients who need help understanding each loan type’s finer details and benefits.   Here’s a quick,  simple three-bullet comparison  that you can provide for your clients:   Low down payments:  Both options feature low down payment options (eligible borrowers can put down as little as 3.5% for FHA and 3% for Conventional), but it can be easier to qualify for an FHA loan, as lower credits scores are accepted and there are less restrictive debt-to-inco...

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Removing PMI on Kentucky Conventional Mortgage Loans : Removing PMI on Conventional Loans https://youtu.be/VVEl6hdZPRU Automatic  – Occurs when a borrower hits 78% LTV of the sch... Automatic  – Occurs when a borrower hits 78% LTV of the scheduled amortization. Cannot be used if borrower pays down balance to get to 78% faster than scheduled. Borrower requested (original value)  – Most often occurs when a borrower pays down a balance faster than scheduled and requests PMI to be removed based on the value used at closing. Borrower requested (new value)  – Occurs when a borrower requests PMI removal based on a new appraised value, and the loan has been open for at least two years. Here are additional information about requirements that may or may not be required when a Homeowner is removing PMI on Conventional Loans. The Homeowner should always consult thei...