Kentucky USDA Rural Housing Mortgage Lender

.Here are the details for each program regarding waiting times, credit score requirements, down payment, and qualification criteria after a Chapter 13 bankruptcy: Kentucky FHA Loan after Chapter 13 Bankruptcy: Waiting Time: Typically, you'll need to wait at least two years after the discharge date of your Chapter 13 bankruptcy before applying for an FHA loan. Credit Score: FHA loans are known for their flexibility with credit scores. While there's no specific minimum score, a higher score (usually around 580 or above) can help you qualify for better terms. Down Payment: The down payment requirement for an FHA loan after Chapter 13 bankruptcy is relatively low, usually starting at 3.5% of the purchase price. Qualification with Chapter 13 Bankruptcy: To qualify, you must demonstrate that you've made all Chapter 13 payments on time for at least one year and receive approval from the bankruptcy court to take on new debt. Kentucky VA Loan after Chapter 13 Bankruptcy: Waiting...

Fannie Mae Updates Selling Guide Fannie Mae has announced updates to the April Selling Guide  (SEL-2017-04)  to include the following.  All changes but one; noted below, are effective immediately. Student Loan Payment Calculation If a payment amount is provided on the credit report, that amount can be used for qualifying purposes. Note: we have confirmed with Fannie Mae that this will include income based repayment options reporting to credit that are not fully amortizing. If the credit report does not identify a payment amount (or reflects $0), we can use either 1% of the outstanding student loan balance, or a calculated payment that will fully amortize the loan based on the documented loan repayment terms. Note: The DU messaging when an installment debt on the loan application does not include a monthly payment will be updated in a future release to reflect this new policy. Until then, we may disregard the statement in the message specif...