Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Owensboro : Real Estate Advice

  • All48
  • Local Info3
  • Home Buying13
  • Home Selling0
  • Market Conditions4

Activity 37
Mon Oct 17, 2016
Joel Lobb answered:
Down Payment:

There are still housing programs that exist for Kentucky home buyers whereas you can purchase a home with no down payment. You will need a 640 middle credit score to purchase a home using the USDA or KHC loan programs for their no down payment credit requirements.

The first no money-down loan program, KHC, currently offers $6000 in down payment assistance (DAP) . Max loan is $265,000 for the KHC DAP Program. All of
Kentucky is fine for this loan and the maximum household income limits are set at $112,000

The second no money down home loan option is the USDA program for properties located outside urban areas of Kentucky areas where you can secure a no money down loan at a current low fixed rate of 3.25% on 30 years. The max income limits usually are between $76k to $99k for most rural area counties. There is no max loan on this program.


If you have access to at least 3.5% down payment or more, we can always look at doing a Fannie Mae or FHA loan and possibly securing a little better rate on the terms of your loan. The current interest rate on a FHA loan with a credit score of 620 + with at least 3.5% down paymentMax loan is $287,500 for FHA

You can use a gift from family member for your 3.5% investment or from retirement funds like 401k if you have one or from your savings.

I will go over your options once we get you pre-approved to let you decide which is best for your situation.

If your credit scores just a little out-of-reach, we can look at doing a rapid rescore and try to get your scores up to the minimum standards.

Mortgage Rates maybe higher or lower once you go to lock-in a rate this year, so keep that in mind.

Joel Lobb
Senior Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
10602 Timberwood Circle, Suite 3
Louisville, KY 40223

phone: (502) 905-3708
Fax: (502) 327-9119
kentuckyloan@gmail.com




http://www.mylouisvillekentuckymortgage.com
... more
0 votes 5 answers Share Flag
Thu Aug 4, 2016
Alysse Musgrave answered:
There's really not a lot you can do except rent and wait until you qualify for a loan. Stated income mortgages are a thing of the past - and for good reason.

Don't Let Them Make a Monkey Out of You! Follow the links below.


Alysse Musgrave
http://HelpUBuyAmerica.com
https://www.youtube.com/watch?v=D5wipynkV4U


Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
... more
0 votes 2 answers Share Flag
Mon Nov 23, 2015
Kathy Lewis answered:
Feel free to contact us with any USDA questions.

USDA Mortgage Hub
100% Rural Housing Loans - Nationwide
Ph: 800-691-8826 (7 days a week)
www.UsdaMortgageHub.com
0 votes 3 answers Share Flag
Thu Nov 12, 2015
Dan Tabit answered:
Kallie,
Find out what their plan is. Sometimes they need an extra day or two, but are actively involved with packing and moving. If you don't see any evidence that they intend to leave, you might want to hold closing up or put some penalties in for everyday they stay. ... more
0 votes 1 answer Share Flag
Tue Aug 18, 2015
A. K. answered:
It did for me once. However, the house had been on the market for 1-1/2 years with no offers. I offered 17K under asking and it only took them 20 minutes to say "yes." I am hopeful to do this again with my next purchase, but with the market booming, I am not sure most would go lower than 10K at the most, even with cash-no waiting. ... more
0 votes 1 answer Share Flag
Sat Aug 1, 2015
Malekfinancials answered:
Hello,

I am a private lender, I offer loan at 3% this is a legitimate company with honor and difference and we are ready to help you out in any financial problem that you are into. We offer all type of loan so if you are interested in this loan offer kindly contact us on our email: naleekfinancials1@outlook.com

Also provide the follow details so that we can proceed with the loan immediately.

Name:
Amount needed:
Duration:
country:
Purpose of loan:
Monthly income:
Phone number:

Contact us with the above details on our email: naleekfinancials1@outlook.com

Regards to you all.
Maleek.
... more
0 votes 1 answer Share Flag
Mon Mar 2, 2015
Melissa Wiggans answered:
That typically means the home's insulation was recently updated. Contact the listing agent for specifics regarding the type of insulation.
0 votes 4 answers Share Flag
Mon Mar 2, 2015
Renee' Roethemeier answered:
I believe that in most cases the seller will continue to work with you despite the fact that they will not sign the extension for fear that they are losing valuable marketing time & losing possible buyers while they feel there are issues with your loan despite that delays are normal in all areas of home mortgage closures. Best thing is to continue to communicate with sellers, keeping them informed every step of the way as to the progress, additional requests, etc. ... more
0 votes 3 answers Share Flag
Mon Mar 2, 2015
Renee' Roethemeier answered:
Yes, there are many investors that have experienced continued success in flipping low to moderate rehab homes. If you are interested in getting more detailed information on successful price markets & areas please feel free to email me or text to set up an appointment to discuss your goals.
Thanks!
Renee'
... more
0 votes 1 answer Share Flag
Mon Mar 2, 2015
Renee' Roethemeier answered:
There are approximately 59 active listings matching the above description. To narrow the selections to match additional criteria please just give me a text or email at your leisure. Thanks! Renee' ... more
0 votes 1 answer Share Flag
Tue Sep 23, 2014
Wison Powell answered:
If I am unemployed and have unemployed money came I rent a home.
0 votes 1 answer Share Flag
Tue Aug 19, 2014
Jessy Jbug asked:
I'm 21 and my mom is wanting to sell her house. I'm trying to have her keep it because it's all she can afford especially with our property.
I work in town tho and need to move closer but…
0 votes 0 Answers Share Flag
Sat Apr 26, 2014
tclayborn asked:
This question was asked from http://www.trulia.com/rental/3153746553-3101-Baybrook-St-Owensboro-KY-42301
0 votes 0 Answers Share Flag
Tue Mar 18, 2014
April Atwell Madden answered:
The exciting new changes to this community will have an impact on the housing market because its even more appealing to choose this area to make your home!
0 votes 2 answers Share Flag
Tue Mar 18, 2014
lamonemayfield asked:
This question was asked from http://www.trulia.com/homes/Kentucky/Owensboro/sold/1000696698-2548-Farrier-Pl-Owensboro-KY-42301
0 votes 0 Answers Share Flag
Tue Mar 18, 2014
lamonemayfield asked:
This question was asked from http://www.trulia.com/homes/Kentucky/Owensboro/sold/1000696698-2548-Farrier-Pl-Owensboro-KY-42301
0 votes 0 Answers Share Flag
Thu Jan 9, 2014
Aaron and Cheree Tiry answered:
Have you checked out the "rent" section at the top of Trulia? There may be something in there. Otherwise you could also check Craigslist.com to see what they have for posted for rentals. ... more
0 votes 1 answer Share Flag
1 2
Search Advice
Search
Owensboro Zip Codes

Followers

70