This entry was posted in $10,000 Down Payment Assistance Grant Kentucky, $100 Down FHA Mortgage, 100% Financing, 100% financing Kentucky Home Loan, 2017 Kentucky First Time Home Buyer Loan Programs, 401k, affordable housing, Application Document Checklist for Approval, Application for Mortgage Pre Approval, Common Questions from Kentucky First-time Homebuyers, Credit Score First Time Home Buyer Louisville Kentucky KHC, Credit Scoresrequired for KHC, Current Mortgage Rates in KY, Debt to Income Ratio, Documents needed for Kentucky Mortgage Loan Approval, Fannie Mae Homepath, Fannie Mae New Lending Guidelines for Kentucky, FHA Home Loa
Kentucky First Time Home Buyer Questions to Ask Your Lender?
∘ What kind of credit score do I need to qualify for different first time home buyer loans in Kentucky?
Answer. Most lenders will wants a middle credit score of 640 for KY First Time Home Buyers looking to go no money down. If you have access to 3.5% down payment, you can go FHA and secure a 30 year fixed rate mortgage.
∘ Does it costs anything to get pre-approved for a mortgage loan?
Answer: Most lenders will not charge you a fee to get pre-approved, but some lenders may want you to pay for the credit report fee upfront. Typically costs for a tri-merge credit report for a single borrower runs about $50 or less. Maybe higher if more borrowers are included on the loan application.
∘ How long does it take to get approved for a mortgage…
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