Some advantages of using a Louisville KY FHA mortgage for your mortgage refinance are as follows:
- Cash-Out Refinance up to 85% for existing or new FHA mortgages.
- Cash-Out up to 85% of your properties value.
- Consolidate first and second mortgages into single loan.
- Bill consolidation programs.
- Easier credit and income qualifications.
- FHA regulated closing costs.
- Rate and Term Mortgage Refinancing up to 96.5% of your homes value.
- Consolidate first and second mortgages* into a single loan.
- min. 640 credit score.
- Competitive rates for borrowers with a Bankruptcy older than two years.
- Competitive rates for borrowers with a Foreclosure older than three years.
- Easier credit and income qualifications.
- FHA regulated closing costs.
- Louisville KY FHA Streamline Refinance for existing FHA loans only.
- No Cost Interest Rate Reductions programs.
- No Income or Credit Qualifications*.
- Zero cost refinance options available.
- Easily switch amortization for adjustable to fixed or vice versa.
- Easily shorten or lengthen term of your existing loan.
- Easier credit and income qualifications.
THE ESSENTIALS
- Steady employment history, at least two years with the same employer.
- Credit report should be in good standing with less than two thirty day late payments in the past two years.
- Any bankruptcy on record must be at least two years old with good credit for the two consecutive years.
- Any foreclosure must be at least three years old with good credit for the past three years.
- Mortgage payment qualified for must be approximately 30 percent of your total monthly gross income.
Joel Lobb (NMLS#57916)Senior Loan Officer
502-905-3708 cell
