Are you looking to buy a home in Kentucky? FHA loans could be a great option for you, and Joel Lobb, a trusted mortgage broker in Louisville, Kentucky, can guide you through the qualifying requirements.
What are Kentucky FHA Loans?
- Kentucky FHA loans are backed by the Federal Housing Administration, making them accessible to borrowers with lower credit scores and down payment capabilities.
Qualifying Requirements for FHA Loans in Kentucky:
- Credit Score: Typically, a minimum credit score of 500 to 580 is required. Joel Lobb can help you understand your credit situation and how it affects your loan eligibility.
- Down Payment: FHA loans have a low down payment requirement, often as low as 3.5% of the purchase price.
- Bankruptcy Requirements: Joel Lobb can explain the waiting periods after a Chapter 7 or Chapter 13 bankruptcy before you can qualify for an FHA loan.
- Debt-to-Income Ratio: Understanding your debt-to-income ratio is crucial for FHA loan approval. Joel Lobb can analyze your finances and help you meet the required ratio.
- Loan Limits and Income Limits: FHA loan limits vary by county in Kentucky, and income limits may apply. Joel Lobb can provide personalized guidance based on your location and financial situation.
Contact Joel Lobb for Kentucky FHA Expert Mortgage Assistance:
Joel Lobb Mortgage Loan Officer
American Mortgage Solutions, Inc.10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364
Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/
NMLS 57916 | Company NMLS #1364/MB73346135166/MBR1574
NMLS ID# 57916, (www.nmlsconsumeraccess.org).
