KHC Refinance Products |  |
To qualify for a KHC refinancing option, you must contact an approved lender and meet the requirements below:
FHA Credit Qualifying Streamline Refinance:
- 640 minimum credit score
- Appraisal required
- Maximum LTV/CLTV 97.75 percent (125 percent CLTV)
- 30-year term
- FHA existing loan
FHA Rate/Term Refinance
- 640 minimum credit score
- Appraisal required
- Maximum LTV/CLTV 97.75 percent (97.75 percent CLTV)
- 30-year term
- Conventional, RHS, VA, or FHA existing loans
RHS Refinance Pilot Program – AN 4634
- Must meet KHC and RHS Guarantee’s household income limitations;
- Must reside in eligible rural location and remain as principle residence;
- Must have made timely mortgage payments for the last 12 months and have a minimum 640 credit score.
- New interest rate must be 1 percent below current interest rate.
- Existing loan must be a 502 guaranteed loans only.
- Ratio calculation not required.
- Must be a manual underwrite and not processed through GUS.
- Borrower must be employed at time of closing or have alternative sources of income, such as retirement, social security, disability, alimony, or child support.
- Refinance balance consists of: Principal balance of loan + the full upfront guarantee fee + funds to close. The applicable upfront fee is 1.5 percent . No cash out is permitted. Annual fee is applicable. For 2012 the annual fee is .3 percent.
- Income: Verification of all sources for income eligibility only—not for repayment.
Joel Lobb (NMLS#57916)Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
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