Financing in Jefferson County : Real Estate Advice

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Paul, Both Buyer and Seller in 11968
Paul answered:
Are there ways to avoid PMI even if you can only put 7-10% down?
Let InBedrock.com help you answer the Rent v Buy v Invest question for yourself and your unique situation re: Your monthly rent expense option v house purchase price You would like to b ... more
0 votes Share Flag Fri Apr 8, 2016 Financing in 40222
Raven Dunn, Home Buyer in Louisville, KY
Raven Dunn asked:
Who are local USDA lenders for the Kentuckiana area? I'm a first time homebuyer interested in rural property and the USDA Single Family Housing Guaranteed Loan Program. There's not many lists of local USDA lenders (the USDA site only lists…
0 votes Share Flag Wed Feb 3, 2016 Financing in Louisville
Five Stars, Real Estate Pro in Jacksonville, FL
Five Stars answered:
Jumbo loan options with under 20% down payment available in Louisville Ky?
We can offer up to 95% Jumbo up to 850K loan amounts as of 2016. Please contact us below to discuss your situation in detail, we would be happy to help.


Five Stars Mortgage
Nati ... more
0 votes Share Flag Wed Jan 20, 2016 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb asked:
Louisville Kentucky FHA Mortgage Guideline Changes ? 1, Student loan considerations
2. New refinance definition
3. Grossing up of non-taxable income
4. 100 mile rule
5. Authorized user of credit card
requirement
6. Streamline financing…
0 votes Share Flag Thu Nov 19, 2015 Financing in Hikes Point
chadparis, Other/Just Looking in Louisville, KY
chadparis answered:
DTI "wiggle room" for new mortgage?
On conventional financing, typically you will max out at 45% DTI. However, Freddie Mac will allow for over 45% on case by case depending on credit strength, loan to value, etc. It's i ... more
0 votes Share Flag Mon Apr 27, 2015 Financing in Louisville
Natalie Casto, Real Estate Pro in Louisville, KY
Natalie Casto answered:
I need to talk to a good mortgage person to help me get my credit where it needs to be so I can buy. I have been renting and paying 900 a month.
A mortgage broker/loan officer can tell you about loan types available to people with less than perfect credit scores and a good one will even work hard to get you qualified if you are ... more
0 votes Share Flag Sat Nov 8, 2014 Financing in 40258
Segrest Group, Real Estate Pro in Louisville, KY
Segrest Group answered:
Seeking to purchase my first home.Trying to find a FHA lender.
TIM BOHN at Century Mortgage Company is the person to contact. He can definitely get you squared away 345-8779
1 vote Share Flag Mon May 5, 2014 Financing in Louisville
Segrest Group, Real Estate Pro in Louisville, KY
Segrest Group answered:
Hello, my lender has stated that my fiance and I are unable to use a 203k loan on a short sale. Is this correct?
Dave Halpern is the Louisville short sale expert. I would suggest contacting him (502) 894-9194
0 votes Share Flag Mon May 5, 2014 Financing in Louisville
Christopher…, Real Estate Pro in Tarrytown, NY
Christopher Pagli answered:
My FICO scores are 670, 600 & 575. Can I get a mortgage loan?
Inquire about an FHA loan with your loan officer.
0 votes Share Flag Sun Dec 15, 2013 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
Are you now welcomed more enthusiastically by lenders when discussing buying a home?
Eligible Section 8 participants may use their housing choice voucher to assist them in purchasing a home. The term of the assistance is 15 years, unless the household includes an elder ... more
0 votes Share Flag Sun Oct 20, 2013 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
Refinancing or not?
 Minimum credit score is 620, unless otherwise indicated on
the matrix. Three trade lines are required unless one is a major
account, such as mortgage.


 No Manuf ... more
0 votes Share Flag Thu Oct 10, 2013 Financing in Louisville
Steve Quinta…, Real Estate Pro in Albuquerque, NM
Steve Quintana answered:
Would it lower my payment at all to sell my home (owned for three years) in the $160,000 range and buy a home in the $150,000 range?
The answer depends on a number of factors, such as how much do you owe, how much will you put down, the interest rates at issue and so on. More info from you side is required to run th ... more
0 votes Share Flag Fri Sep 13, 2013 Financing in 40201
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
Im wanting to but a house or stand alone condo at the beginning of next year. i no there maybe a few small things on my credit i need to take care of.
This can be the bane to every borrower, every loan officer and every lender……and yes, to every realtor. How many times has a borrower said my credit’s good, only to f ... more
0 votes Share Flag Thu Sep 12, 2013 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
what is this 15 years fixed lock?
FHA Credit Score Requirements:


530: Minimum credit score required to qualify for an FHA loan and satisfy FHA Credit Requirements
530-579: Credit scores in this range will qualify ... more
0 votes Share Flag Tue Aug 6, 2013 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
This is might sound silly, but we are on a SSI income, we pay 550 in rent, I am tired of renting I want to own a home, is this possible, me and my
620 is the bottom score (again with few exceptions) that lenders will permit. Below a 620, then you're in a world of hurt. Even at 620, people consider you a higher risk that other folk ... more
0 votes Share Flag Tue Aug 6, 2013 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
i live in ohio . and have a credit score 715 plus. can i buy a house in kentuky with the job in ohio.?
Most Louisville Mortgages that are originated currently must have a middle credit score of 640. If you have below this score it is extremely difficult to get approved for a Kentucky Mor ... more
0 votes Share Flag Tue Aug 6, 2013 Financing in Louisville
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
If I purchase a home with an appraised value that is 20% or greater than the purchase price i.e. a foreclosure, will I need pmi?
You will have to pay pmi and sometimes on jumbo loans you will need more than 20% down and a higher credit score on jumbo loans.

Joel Lobb (NMLS#57916)
Senior Loan Officer
502-90 ... more
0 votes Share Flag Thu May 9, 2013 Financing in 40222
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