We offer same day loan approval and Free Credit Reports.

Over 500 Kentucky Mortgage loans closed in Kentucky and still going strong. Call us today for your next Kentucky Mortgage Loan. We are local Kentucly company here to serve your needs.

Current Louisville Kentucky mortgage rates today

 (Current FHA/VA KHC Rates) Kentucky today

   NMLS#57916

     

Louisville Kentucky Mortgage Rates for today
Mortgage Product Mortgage Rates &  (APR)

15 Year Fixed Conventional               3.250%             3.484% apr
30 Year Fixed Conventional               4.000%            4.297% apr
30 Year Fixed FHA                              3.750%             4.471% apr
30 Year Fixed  USDA                          3.875%             4.697% apr
30 year Fixed VA                                 3.750%             4.189% apr
30 year Fixed KHC                               3.375%             4.377% apr

Current Louisville Kentucky Mortgage Rates today
Rates are subject to qualifying criteria
Rates are subject to change without notice.
Free Credit Report and Pre qualifications available anytime. 

Louisville Kentucky Mortgage Rates are updated daily at this blog

FHA, VA, KHC, Rural Housing, USDA, Fannie Mae Mortgage Loans

Check out our listing in one of Louisville, Ky‘s  Premier Business Magazines,   Business First Of Louisville

This website is not an Government Agency, and does not officially represent the HUD, VA, USDA or FHA

 Key Financial Mortgage of KY is a licensed mortgage broker in the state of Kentucky  (NMLS#1800).  Key Financial Mortgage of KY  is not a part of, nor are we affiliated with, the VA,  FHA/HUD, USDA. These entities are a government agencies,  not a lender. These Government agencies  simply insure the mortgages; they do not loan the money. Joel Lobb (NMLS#57916) is a licensed loan officer in the state of Kentucky.

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I have helped over 589 families buy or refinance their home over the last 13 years. You can trust me for your next mortgage loan. I deliver on what I say and I will give you honest, up-front personal attention you deserve for your home loan. I have several advantages over the big- mega banks in town. First, I can shop your loan thru different mortgage companies across the country to get you the best deal out there, whereas most banks will offer offer you there one and only deal. I have access to over 15 different mortgage companies to broker your loan thru. My rates and fees are just as good or better than local banks and you will not get lost in the shuffle like most borrowers do at the mega banks; your just not a number at our company, you are a person and we will treat you like one throughout the entire process. Free pre-approvals within 2 hours and get your loan closed within 15 days. Give us a try or let us compare what you have now. Call me locally at 502-905-3708; this is my personal cell phone and I carry it on me at all times. Free credit reports and approvals. Stop by and see my at 107 South Husrtbourne Parkway Louisville Ky 40222- or email me at kentuckyloan@gmail.com

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Louisville Realtors 2011 Home Sales Report.

Jefferson County Market Comment:

Overall Market Comment:

Members of the Greater Louisville Association of Realtors® posted 860 sales during the month of December 2011. December’s total sales continued a six-month trend of outpacing the same period last year, which posted 847 sales during December 2010. The sales volume trend was notable as it revealed the 2010 Home Buyer Tax Credit produced a surge in activity in the 2

nd quarter of 2010, leaving a lean 3rd and 4th

quarter in its wake. The average selling price paid for single family and condominium homes in December was $160,402, up $3,499 from November, but down 7% from a year earlier. Average sales prices have retreated from their year-to-date peak of $179,758 posted in July 2011, but remain above the low for 2011 which was posted in March at $152,801.

Inventory, or the number of homes for sale, fell to their lowest level of the year in December, to 7,294 units, from 7,825 in November, 8,373 in October and 8,704 units in September. The number of homes for sale continues to exceed 2010 levels and remains at an 8 month supply; inventory levels near a 6 month supply are often associated with an in-balance market.

Overall, GLAR members end 2011 with 10,975 units sold, a decline of 467 units, or 4% less than 2010. The 2011 average sales price paid was $163,317, a 1.8% decline from 2010’s average of $166,295. In 2011, Metro Louisville home prices retreated from 2010 levels, but the year ended on a positive note with the December average $7,600 greater than March’s low of $152,801.

Greater Louisville Association of REALTORS, Inc.

Residential Sales Statistics

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How do I refinance using my Kentucky VA Home Loan?

You can use your Kentucky VA home loan benefit to refinance your existing VA home loan to a lower

interest rate, with little or no out-of-pocket cost. This is called an Interest Rate Reduction

Refinancing Loan (IRRRL), also known as a “rapid refinance” or a “streamline refinance.”

Generally, no appraisal, credit information, or underwriting is required for this refinancing

option, although some lenders may require an appraisal and credit report. The fees and

charges associated with the refinancing loan may be incorporated into the new VA loan.

Remember: The interest rate on the new loan must be lower than the rate on the old loan

(unless you refinance an adjustable-rate mortgage to a fixed-rate mortgage).

To receive an IRRRL, work with your lender to process your application. It’s generally a good

idea to compare several lenders’ rates first, as there may be large differences in the terms

they offer. Also, some lenders may contact you suggesting that they are the only lenders

with the authority to make IRRRLs, but according to VA, any lender can

make you an IRRRL.

An IRRRL can be done only if you have already used

your eligibility for a KentuckyVA loan on the property you intend to

refinance. If you have your Certificate of Eligibility, take it

to the lender to show your prior use of the entitlement.

The occupancy requirement for an IRRRL is different from that for

other VA loans. When you originally got your Kentucky  VA loan, you certified

that you occupied or intended to occupy the home. For an IRRRL, you

need only certify that you previously occupied it.

The loan may not exceed the sum of the outstanding balance on the existing VA loan,

plus allowable fees and closing costs, including the funding fee.

What’s the Cash-out Refinance Option?

The Veterans’ Benefits Improvement Act of 2008 allows you to free up cash with a cash-out

refinance, a VA home loan refinance program in which you can cash-out on the equity you

have built up in your home. As an example, if you still owe $70,000 on your original loan, you

can refinance for a $90,000 loan, which gives you a cash-out of $20,000.

An appraisal is required and you must qualify for the loan. If you are refinancing for the first

time, VA charges a 2.15% funding fee for this program (2.15% of the total loan) which can be

rolled into the loan amount. If you refinance more than once, the funding fee is 3.3%.

There is no minimum amount of time that you must own your home, yet your home must have

sufficient equity to qualify for KEntuckyVA refinancing. Existing loans can be refinanced whether they

are in a current or delinquent status, but refinancing loans are subject to the same income

and credit requirements as regular home loans. As long as you have title to the property

you can refinance an assumed loan. Check with your lender as there are some additional

regulations concerning assumed loans.

Conventional to VA Refinance

If you do not have a KentuckyVA home loan but are eligible for one, you can refinance a subprime or

conventional mortgage for up to 100 percent of the value of the property. Usually you will be

charged a funding fee of around 2-3 percent (depending on the lender you choose) if you are

using your VA loan guarantee for the first time. Benefits to this type of refinancing are that

your new interest rate may be lower and you will have no monthly mortgage insurance or outof-

pocket closing costs.

Can I reuse my Kentucky VA Home Loan benefit?

The Kentucky VA  home loan benefit can be reused if you have paid off your priorKentucky VA loan and sold the

property. In addition you may, on a one-time-only basis, be able to reuse or restore your

benefit eligibility if your prior VA loan has been paid in full and you still own the property.

In either case, to restore your eligibility, you must send a completed VA Form 26-1880 to your

VA Eligibility Center. (See VA Loan Documents Checklist Above.)

To prevent delays in processing, you should also include evidence that the prior loan has

been paid in full and, if applicable, the property disposed of. This evidence can be presented

in the form of a paid-in-full statement from the former lender, or a copy of the HUD-1

settlement statement completed in connection with a sale of the property or refinance of the

prior loan.

Depending on the circumstances, if you have already used a portion of your VA-guaranteed

amount (up to $89,912), and the used portion cannot be restored, any remaining portion of

your VA guarantee is available for use on another loan. You will have to ask your lender if your

remaining VA-guaranteed portion will be enough, or if you will need to make a down payment

to qualify for the loan. If you have a question about your specific case, contact VA.

What are the advantages of a Kentucky VA Home Loan?

The following is a quick list of reasons why a Kentucky VA loan may be your best option:

•

No down payment required

•

VA funding fee may be financed in the loan

•

VA Loans do not require perfect credit – there is no credit score cut-off

•

VA funding fees may be waived for veterans with VA rated service-connected

disabilities and surviving spouses of veterans with service-connected disabilities

•

Closing costs may be shared between the buyer and lender

•

Flexible mortgage types – fixed, hybrid and traditional ARMs

•

No mortgage insurance premiums – this is huge in today’s housing market

•

VA guarantied mortgages are assumable

•

No pre-payment penalties

•

Homes are inspected and appraised by VA prior to approval and/or during

construction

•

VA can offer assistance to veteran borrowers in default due to temporary financial

difficulty

•

Refinance and Interest Rate Reduction loans are available

All in all, the pros far outweigh the cons. And, considering there are very few “no-down

payment” mortgage options around that offer lower associated fees, using your VA home

loan benefit seems like a no-brainer – as long as the red tape doesn’t scare you.

•

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	HomePath Mortgage loans have the following characteristics:	HomePath Renovation loans have the following characteristics:
	HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed. Benefits to You, the Borrower Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only). Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer. No lender-requested appraisal. No mortgage insurance; ask your lender for cost details on loans without mortgage insurance. Expanded seller contributions for closing costs allowed. Available for primary residences, second homes and investment properties. Many condo project requirements are waived; ask your lender for details. For more information, contact a HomePath Mortgage lender or click here for the Home Buyers Guide.	HomePath Renovation Mortgage allows a borrower to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and renovation – up to 35% of the as completed value, no more than $35,000. Benefits to You, the Borrower Low down payment and flexible mortgage terms (fixed- rate or adjustable-rate). Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer. Renovation amount based on appraisal “as completed” value. No mortgage insurance; ask your lender for cost details on loans without mortgage insurance. Expanded seller contributions for closing costs allowed. Available for primary residences, second homes, and investment properties. Many condo project requirements are waived; ask your lender for details. For more information about the renovation process, contact a HomePath Renovation Mortgage lender.

Note: Potential buyers should always use the lender and financing product that best meets the needs of the buyer and property, and should always consider requesting a home inspection of the property. *Ask your lender for cost details for loans with no mortgage insurance.

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