Mortgage Loans

Compare FHA loans with 3.5% down vs. conventional loans with 3% down. Rates, requirements, credit score, eligibility, and benefits.

Kentucky Mortgage Rates and Home Loan Options KENTUCKY FHA, VA, USDA AND CONVENTIONAL MORTGAGE LOANS IN KY

1. Income You need income. You need to be able to afford the home. But what is acceptable income? Let’s just say that there are two ratios mortgage underwriters look at to qualify you for mortgage payment: First Ratio – The first ratio, top ratio or housing ratio. Basically that means out of all the gross monthly income you make, that no more that X percent of it can go to your housing payment. The housing payment consists of Principle, Interest, Taxes and Insurance. Whether you escrow or…

Do you understand how a mortgage works? If not, you’ll need to learn about this if you want to buy a house anytime soon. When you go to school you learn many things, but unfortunately, we’re not taught the essential facts about mortgages. | you can finance all costs with a mortgage | you can choose the duration | mortgages come with fixed or variable rates | you need a down payment | your credit affects your ability to get a loan | assess how the payments work |

There are some topics you shouldn't bring up when getting a mortgage, because they wave unnecessary red flags. Here are a few—and why they cause concern.

First-time home buyers tend to find the mortgage approval process confusing. We know, because we get their questions via email on a regular basis! So we’ve created this guide to walk you through the different steps in a typical mortgage approval process. Note: The lending process can vary from one borrower to the next, due […]

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These six steps can show homeowners how to refinance a mortgage to ensure they are making the right choice, choosing a good lender, and getting the best terms.