Kentucky First Time Home Buyer Mortgage Loans: Down Payment and Credit Score Requirements for a K...
Kentucky First Time Home Buyer Mortgage Loans: Down Payment and Credit Score Requirements for a K...: Different Mortgage Programs for Kentucky Home Buyers to Consider below: LOAN PROGRAM CREDIT SCORE INCOME LIMITS PROPERTY ELIGIBIL...
$10,000 Down Payment Grant from Kentucky Housing for 2018
What is the one thing that stops most buyers from buying a home today?
They don't have enough money for down payment and closing costs to buy a home.
You can now get up to $10,000 at closing to help towards your down payment and closing costs. Combined with seller assist, this reduces the amount of money needed substantially.
To successfully originate KHC mortgages you should begin with prequalified applicants and
properties meeting FHA, VA, RHS, or Fannie Mae Conventional guidelines. The applicant (s)
must be purchasing or refinancing a single family, one unit, and owner-occupied property,
located in Kentucky. Then follow the steps below�.
1. The purchase price or refinance amount is at or below:
? $282,000 with Secondary Market
? $253,800 with KHC�s Homebuyer Tax Credit (purchase only)
2. The applicant (s) meet KHC�s simple credit overlays:
? 660 credit score for Conventional
? 620 credit score for FHA, VA, and RHS
? Max ratio caps for government loans of 40/45%
? Max ratio caps for conventional loans of 40/50%
? AUS Approval required except on RHS
What is the one thing that stops most buyers from buying a home today?
They don't have enough money for down payment and closing costs to buy a home.
You can now get up to $10,000 at closing to help towards your down payment and closing costs. Combined with seller assist, this reduces the amount of money needed substantially.
To successfully originate KHC mortgages you should begin with prequalified applicants and
properties meeting FHA, VA, RHS, or Fannie Mae Conventional guidelines. The applicant (s)
must be purchasing or refinancing a single family, one unit, and owner-occupied property,
located in Kentucky. Then follow the steps below�.
1. The purchase price or refinance amount is at or below:
? $282,000 with Secondary Market
? $253,800 with KHC�s Homebuyer Tax Credit (purchase only)
2. The applicant (s) meet KHC�s simple credit overlays:
? 660 credit score for Conventional
? 620 credit score for FHA, VA, and RHS
? Max ratio caps for government loans of 40/45%
? Max ratio caps for conventional loans of 40/50%
? AUS Approval required except on RHS
Comments
Post a Comment