Kentucky First Time Home Buyer Programs For Home Mortgage Loans

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: The Dos & Don’ts of Applying for a Mortgage in Ken... : DO  maintain up-to-date records The mortgage application process is paperwork-heavy, and lenders could ask you to pull up records at a momen... The Dos & Don’ts of Applying for a Mortgage in Kentucky DO  maintain up-to-date records  The mortgage application process is paperwork-heavy, and lenders could ask you to pull up records at a moment’s notice. To make things easier for yourself, make sure you have the following records readily available: Income:  Underwriters typically verify income and tax documents through your employer, so hold onto new paystubs as you receive them. Assets:  It’s best practice to save all incoming account statements in the order in which you receive them; keep all numbered pages of each statement. Gifts:  If you’re  receiving any gift money   from relatives, they...

Louisville Kentucky VA Home Loan Mortgage Lender: Benefits and Drawbacks of Kentucky VA Mortgage Loans : Kentucky VA Mortgage  Loans Why VA Loans? First and foremost, VA loans put homeownership within reach of a wider population. That’s because,...

It's important that you avoid these mortgage mistakes once you get pre-approved for your Kentucky Mortgage Loan! Once you've found your home, talked to a lender and signed a contract, don't do anything to jeopardize your approval before the closing date! Here are some do's and don'ts to keep your Kentucky Home loan on track. Do keep cash in the bank so that your financial picture looks as strong as possible. Do establish good credit by making payments on time and making sure you don't overdraw your account! Don't move large sums of money around without documentation. This can raise unnecessary red flags. Don't open or close credit cards. This could potentially hurt your FICO score. Don't make any major purchases - especially on credit cards. Don't change your job. If possible, stay in your current job until all approvals are final. Something to keep in mind. Your credit report is usually good for 120 days on government agency loans throu...

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Tips to keep your Kentucky Mortgage Loan Pre-Appro... :  10 Tips for Mortgage  Loan Applicants Not to After Pre-Approval for a KY Mortgage   1. Don’t change jobs or become self-employed.  2. Don’t... 10 Tips for Mortgage  Loan Applicants Not to After Pre-Approval for a KY Mortgage   1. Don’t change jobs or become self-employed.  2. Don’t buy a car, truck, van, boat or motorhome unless you plan to live in it.  3. Don’t use your credit cards or let your payments fall behind.  4. Don’t spend the money you have saved for your down payment.  5. Don’t buy furniture before you buy your house.  6. Don’t originate any new inquiries on your credit report.  7. Don’t make any LARGE or CASH deposits into your bank account.  8. Don’t change bank accounts.  9. Don’t co-sign for anyone.  10. Don’t purchase anything until after the c...

😳😲👎👎👎👎👎 These tips will keep you on the right track both during the prequalification phase and right before the loan process begins. Do not apply for new credit It’s not uncommon to get invitations to apply for lines of credit.  Just don’t respond to these offers ­ no matter how good it sounds.  Why?  If you do apply for new credit, the creditor will pull your credit.  This inquiry can potentially lower your credit score. Also, do not apply for new lines of credit for furniture, appliances, computers or similar items INCLUDING offers for “no payments for 6 months.” Do not max out credit accounts Running up your credit card balances is one of the fastest ways to bring your credit score down.  Once you begin the loan process, try to keep your credit cards well below the available credit limit during your billing cycle. Do not close out credit cards  If you close out accounts, it can change your ratio of debt to a...

 Do's and Dont's In Getting A Mortgage Loan Approval Letter  1- Do NOT buy a car or take a large loan with a new payment before you plan to buy a house if you can avoid it.  At least get pre-approved to buy a house BEFORE you buy the car so that you are fully educated on what your max car payment should be to still be in position to buy a house and get approved. Yes, even if you don't think you are buying a house for another year it is still important to educate yourself that far in advance if you feel that you will be taking on new debt (car loan, credit card, etc) I continue to see younger home buyer prospects with $500 car payments and then want to buy a house for the first time but can't get approved because of debt to income ratio. 2- Know your credit and manage it.  Don't wait until 2 months before you want to buy to get pre-approved if you have NEVER been pre-approved before. Too many times do I get the call that my lease ends in 2 months...