https://www.kyinmortgage.com https://www.kyinmortgage.com/thinking-about-refinancing-your-mortgage-read-the-fine-print-first Wed, 25 Mar 2026 02:20:39 GMT https://www.kyinmortgage.com/thinking-about-refinancing-your-mortgage-read-the-fine-print-first thumbnail main image https://www.kyinmortgage.com/your-finances-dont-have-to-be-perfect-to-buy-a-home <div data-rss-type="text"> <br/> </div> Wed, 04 Mar 2026 13:14:13 GMT https://www.kyinmortgage.com/your-finances-dont-have-to-be-perfect-to-buy-a-home thumbnail main image https://www.kyinmortgage.com/non-traditional-mortgage-financing-options-when-you-dont-fit-the-typical-box <div data-rss-type="text"> If you’ve ever been told “you don’t qualify” for a home loan—even though you earn good money, have assets, or own rentals—you’re not alone. <div> <br/> </div> <div> Traditional mortgage guidelines work well for “standard” borrowers… but they can be a poor fit for: </div> <div> <br/> </div> <div> <ul> <li> Self-employed buyers </li> </ul> </div> <div> <ul> <li> Commission-based income </li> </ul> </div> <div> <ul> <li> Real estate investors </li> </ul> </div> <div> <ul> <li> Borrowers with complex tax returns </li> </ul> </div> <div> <ul> <li> People with strong cash flow but non-traditional documentation </li> </ul> </div> <div> <br/> </div> <div> That’s where non-traditional mortgage financing (often called Non-QM) can help. </div> <div> <br/> </div> <div> <b> What does “Non-QM” mean? </b> </div> <div> <br/> </div> <div> Non-QM stands for Non-Qualified Mortgage—a loan that doesn’t fit within the CFPB’s “Qualified Mortgage” (QM) framework. </div> <div> <br/> </div> <div> QM is tied to the Ability-to-Repay rule, which requires lenders to make a reasonable, good-faith determination that a borrower can repay the loan. </div> <div> <br/> </div> <div> Non-QM loans still involve underwriting and documentation—but they may allow alternative ways to demonstrate income or repayment ability when your situation is more nuanced. </div> <div> <br/> </div> <div> <b> Common non-traditional mortgage options (and who they’re for) </b> </div> <div> 1) DSCR Loans (Investor Loans Based on Rental Income) </div> <div> <br/> </div> <div> If you’re a real estate investor, a DSCR loan may let you qualify based more on the property’s income than your personal W-2s. </div> <div> <br/> </div> <div> DSCR stands for Debt Service Coverage Ratio, which compares a property’s net operating income to its debt payments. </div> <div> <br/> </div> <div> Best for: buy-and-hold rental property investors who want the property’s cash flow to do the talking. </div> <div> <br/> </div> <div> 2) Bank Statement Loans (Great for Self-Employed Borrowers) </div> <div> <br/> </div> <div> For business owners and self-employed borrowers, traditional underwriting can be frustrating—especially when write-offs reduce taxable income. </div> <div> <br/> </div> <div> A bank statement loan uses your bank deposits over a set period (often 12–24 months) to help establish income instead of relying primarily on W-2s and pay stubs. </div> <div> <br/> </div> <div> Best for: self-employed buyers with strong deposits/cash flow and inconsistent “paper” income. </div> <div> <br/> </div> <div> 3) Asset-Based Qualification (Qualify Using Assets) </div> <div> <br/> </div> <div> Some programs allow qualification based on verified assets—useful for retirees, high-net-worth borrowers, or anyone with significant reserves but non-traditional income streams. (Exact rules vary by lender/program.) </div> <div> <br/> </div> <div> Best for: borrowers with strong assets who want flexibility in how repayment strength is documented. </div> <div> <br/> </div> <div> <b> Pros and cons of non-traditional financing </b> </div> <div> <br/> </div> <div> Potential benefits </div> <div> <br/> </div> <div> More flexible qualification for real-world income scenarios </div> <div> <br/> </div> <div> Can be a path forward for investors and self-employed borrowers </div> <div> <br/> </div> <div> Things to watch </div> <div> <br/> </div> <div> Pricing, down payment requirements, and documentation can differ from conventional loans (often higher rates/requirements depending on profile and product). </div> <div> <br/> </div> <div> Not every borrower is a fit—strategy matters. </div> <div> <br/> </div> <div> How to know if you should explore non-traditional options </div> <div> <br/> </div> <div> Non-traditional financing may be worth a look if you’re saying: </div> <div> <br/> </div> <div> “My tax returns don’t reflect my real cash flow.” </div> <div> <br/> </div> <div> “I’m buying rentals and want a smoother way to qualify.” </div> <div> <br/> </div> <div> “I have assets, but my income is complicated.” </div> <div> <br/> </div> <div> “I want a loan strategy built for my situation—not a one-size-fits-all form.” </div> <div> <br/> </div> <div> A strong loan advisor should help you compare routes and choose the best long-term plan—not just the fastest approval. </div> <div> <br/> </div> <div> <br/> </div> <div> Want to see what you qualify for without guessing? </div> <div> <br/> </div> <div> We can review your situation and map out the best path—traditional or non-traditional—based on your goals. </div> </div> Mon, 02 Feb 2026 13:08:37 GMT https://www.kyinmortgage.com/non-traditional-mortgage-financing-options-when-you-dont-fit-the-typical-box thumbnail main image https://www.kyinmortgage.com/trigger-leads-and-what-they-are <div data-rss-type="text"> <div> <span> If you’ve ever applied for a mortgage (or even shopped rates) and then immediately started getting bombarded with calls, texts, and emails from lenders you’ve never heard of—there’s a reason. </span> </div> <div> <br/> </div> <div> It’s usually caused by something called mortgage trigger leads. </div> <div> <br/> </div> <div> In plain English: when your credit is pulled for a mortgage, that inquiry can “trigger” your info to be sold and shared—leading to a flood of outreach. </div> <div> <br/> </div> <div> <b> What is a “trigger lead”? </b> </div> <div> <br/> </div> <div> A trigger lead is created after a mortgage credit inquiry happens. Credit bureaus can legally generate a lead based on that inquiry and provide it to other lenders or lead buyers, who then contact you to compete for your business. </div> <div> <br/> </div> <div> That’s why it can feel like your information “leaked” the moment you applied. In many cases, it didn’t leak—this is simply how the system has worked. </div> <div> <br/> </div> <div> Why do the calls start so fast? </div> <div> <br/> </div> <div> Because trigger lead activity can happen shortly after the credit inquiry—sometimes within a day. </div> <div> <br/> </div> <div> <b> So from your perspective: </b> </div> <div> <br/> </div> <div> You apply for a mortgage </div> <div> <br/> </div> <div> Your lender pulls credit </div> <div> <br/> </div> <div> Your phone lights up nonstop </div> <div> <br/> </div> <div> Are trigger leads legal? </div> <div> <br/> </div> <div> Historically, they’ve been allowed under federal credit reporting rules—but the practice has faced major backlash because it creates confusion, trust issues, and harassment for borrowers. </div> <div> <br/> </div> <div> Important update: changes took effect in 2026 </div> <div> <br/> </div> <div> A federal law—the Homebuyers Privacy Protection Act (H.R. 2808)—was signed in September 2025 and took effect March 4, 2026, significantly restricting mortgage trigger leads unless certain conditions are met (like express consumer authorization or specific existing relationships). </div> <div> <br/> </div> <div> (If you applied before that date, you may have experienced the “classic” trigger lead flood more intensely.) </div> <div> <br/> </div> <div> <b> How to reduce unwanted calls, texts, and emails </b> </div> <div> <br/> </div> <div> Even with new restrictions now in effect, you can still take steps to reduce annoying outreach. </div> <div> <br/> </div> <div> <b> 1) Opt out of prescreened credit/insurance offers </b> </div> <div> <br/> </div> <div> You can opt out through the official industry site OptOutPrescreen.com (temporary or permanent options). </div> <div> <br/> </div> <div> <b> 2) Add your number to the National Do Not Call Registry </b> </div> <div> <br/> </div> <div> Register and report unwanted telemarketing calls at DoNotCall.gov. </div> <div> <br/> </div> <div> <b> 3) Don’t confirm personal info to random callers </b> </div> <div> <br/> </div> <div> If you answer, avoid confirming details like DOB, employer, or SSN. If it’s legitimate, you can call back using a verified company number. </div> <div> <br/> </div> <div> <b> 4) Work with one trusted lender (and ask about privacy) </b> </div> <div> <br/> </div> <div> A good lender will explain what trigger leads are and how to minimize disruptions—and they’ll never pressure you through scare tactics. </div> <div> <br/> </div> <div> <b> Quick FAQ </b> </div> <div> <br/> </div> <div> Why are these lenders calling me? </div> <div> Because your mortgage inquiry signals you’re actively shopping—and competitors want your business. </div> <div> <br/> </div> <div> Is my current lender selling my information? </div> <div> Usually, no. The trigger is often the credit inquiry itself and how that data is handled in the credit ecosystem. </div> <div> <br/> </div> <div> Will the new 2026 rules stop everything? </div> <div> They significantly restrict trigger lead use, but you may still receive marketing from other sources and you can still benefit from opt-out and Do Not Call protections. </div> <div> <br/> </div> <div> If you’re planning to buy a home or refinance and want a straight, no-pressure mortgage conversation (without the noise), we’re here to help. </div> <div> <br/> </div> <div> Ready to talk options? </div> <div> ✅ Request a rate quote </div> <div> ✅ Ask questions about credit pulls and timing </div> <div> ✅ Get a clear plan—before you apply </div> </div> Wed, 07 Jan 2026 13:04:17 GMT https://www.kyinmortgage.com/trigger-leads-and-what-they-are thumbnail main image https://www.kyinmortgage.com/getting-pre-approved-is-easier-than-you-think Wed, 06 Aug 2025 11:49:13 GMT https://www.kyinmortgage.com/getting-pre-approved-is-easier-than-you-think thumbnail main image https://www.kyinmortgage.com/appraisals-vs-home-inspections-what-is-the-difference Wed, 16 Jul 2025 11:43:27 GMT https://www.kyinmortgage.com/appraisals-vs-home-inspections-what-is-the-difference thumbnail main image https://www.kyinmortgage.com/fha-loan-rules-what-buyers-and-sellers-need-to-know Wed, 02 Jul 2025 02:42:21 GMT https://www.kyinmortgage.com/fha-loan-rules-what-buyers-and-sellers-need-to-know thumbnail main image https://www.kyinmortgage.com/how-buy-now-pay-later-loans-could-affect-your-mortgage Wed, 25 Jun 2025 02:36:56 GMT https://www.kyinmortgage.com/how-buy-now-pay-later-loans-could-affect-your-mortgage thumbnail main image https://www.kyinmortgage.com/navigating-the-mortgage-process Wed, 11 Jun 2025 01:49:14 GMT https://www.kyinmortgage.com/navigating-the-mortgage-process thumbnail main image https://www.kyinmortgage.com/usda-now-finances-existing-manufactured-homes-what-you-need-to-know Wed, 14 May 2025 01:56:00 GMT https://www.kyinmortgage.com/usda-now-finances-existing-manufactured-homes-what-you-need-to-know thumbnail main image https://www.kyinmortgage.com/why-a-strong-pre-approval-letter-makes-all-the-difference Wed, 23 Apr 2025 01:29:18 GMT https://www.kyinmortgage.com/why-a-strong-pre-approval-letter-makes-all-the-difference thumbnail main image https://www.kyinmortgage.com/mortgage-escrow-101 Wed, 09 Apr 2025 01:37:27 GMT https://www.kyinmortgage.com/mortgage-escrow-101 thumbnail main image https://www.kyinmortgage.com/5-common-myths-about-buying-a-home Wed, 19 Mar 2025 01:17:00 GMT https://www.kyinmortgage.com/5-common-myths-about-buying-a-home thumbnail main image https://www.kyinmortgage.com/the-top-3-reasons-homeowners-refinance-their-home Wed, 05 Mar 2025 01:13:47 GMT https://www.kyinmortgage.com/the-top-3-reasons-homeowners-refinance-their-home thumbnail main image https://www.kyinmortgage.com/closing-day-101 Wed, 19 Feb 2025 01:10:09 GMT https://www.kyinmortgage.com/closing-day-101 thumbnail main image https://www.kyinmortgage.com/understanding-down-payments-a-crucial-step-in-home-buying <h3> <br/> </h3> Wed, 05 Feb 2025 01:07:01 GMT https://www.kyinmortgage.com/understanding-down-payments-a-crucial-step-in-home-buying thumbnail main image https://www.kyinmortgage.com/5-quick-tips-to-help-boost-your-credit-score Wed, 15 Jan 2025 01:22:22 GMT https://www.kyinmortgage.com/5-quick-tips-to-help-boost-your-credit-score thumbnail main image https://www.kyinmortgage.com/escrow-account-basics Escrow Accounts - what are they and how do they work? Listen as Eric Jones, NMLS# 428259 breaks down the basics. 🏡 <div data-rss-type="text"> <p> <span> Escrow Accounts - what are they and how do they work? Listen as Eric Jones, NMLS# 428259 breaks down the basics. &#55356;&#57313; </span> </p> </div> Sun, 25 Apr 2021 21:34:31 GMT https://www.kyinmortgage.com/escrow-account-basics thumbnail main image https://www.kyinmortgage.com/debt-to-income-ratio Do you know your debt-to-income ratio (DTI)? Listen in as Keith Cullens, NMLS #469463 briefly explains DTI and how it may impact what loan programs you qualify for. <div data-rss-type="text"> <p> <span> <span> Do you know your debt-to-income ratio (DTI)? Listen in as Keith Cullens, NMLS </span> </span> <a href="https://www.kyinmortgage.com/mortgageresources/hashtags/469463" target="_blank"> #469463 </a> <span> <span> briefly explains DTI and how it may impact what loan programs you qualify for. </span> </span> </p> </div> Thu, 15 Apr 2021 21:31:58 GMT https://www.kyinmortgage.com/debt-to-income-ratio thumbnail main image https://www.kyinmortgage.com/what-can-you-do-to-speed-up-the-home-buying-process Here at Kentuckiana Mortgage Group Inc. we do everything we can to make the process as easy and quick as possible, but YOU as the borrower have the power to control how fast the loan process moves as well. <div data-rss-type="text"> <p> <span> Here at Kentuckiana Mortgage Group Inc. we do everything we can to make the process as easy and quick as possible, but YOU as the borrower have the power to control how fast the loan process moves as well. </span> </p> </div> Tue, 16 Feb 2021 21:23:29 GMT https://www.kyinmortgage.com/what-can-you-do-to-speed-up-the-home-buying-process thumbnail main image https://www.kyinmortgage.com/mortgage-payment-basics Have you ever wondered what is included in your mortgage payment? Listen in as Adam DeSpain, NMLS# 1803932 runs through the components that make up your monthly payment and explains why certain items may not be included. <div data-rss-type="text"> <p> <span> Have you ever wondered what is included in your mortgage payment? Listen in as Adam DeSpain, NMLS# 1803932 runs through the components that make up your monthly payment and explains why certain items may not be included. </span> </p> </div> Wed, 03 Feb 2021 21:13:04 GMT https://www.kyinmortgage.com/mortgage-payment-basics thumbnail main image https://www.kyinmortgage.com/adapting-to-covid-19 The process of buying a home looks a little different these days but we have adapted to make things as smooth as possible. Brad Sea NMLS# 425420 shares some of the ways we are embracing technology to help our clients. <div data-rss-type="text"> <p> <span> The process of buying a home looks a little different these days but we have adapted to make things as smooth as possible. Brad Sea NMLS# 425420 shares some of the ways we are embracing technology to help our clients. </span> </p> <p> <br/> </p> <p> <span> <span>  </span> We are here for you! </span> </p> </div> Sun, 19 Apr 2020 21:16:15 GMT https://www.kyinmortgage.com/adapting-to-covid-19 thumbnail main image https://www.kyinmortgage.com/conditional-approval Behind the scenes of every closed mortgage is a good processor! Listen as Haley Roth, NMLS# 1830358 and Taylor Cartuyvelles, NMLS# 1545905 explain one of the most important parts of the loan process - Conditional Approval. <div data-rss-type="text"> <p> <span> Behind the scenes of every closed mortgage is a good processor! Listen as Haley Roth, NMLS# 1830358 and Taylor Cartuyvelles, NMLS# 1545905 explain one of the most important parts of the loan process - Conditional Approval. </span> </p> </div> Tue, 21 Jan 2020 21:08:31 GMT https://www.kyinmortgage.com/conditional-approval thumbnail main image https://www.kyinmortgage.com/inspection-vs-appraisal Home inspections and home appraisals are commonly confused, but they are two very different things! Listen in as Adam DeSpain, NMLS# 1803932 explains the differences. <div data-rss-type="text"> <p> <span> Home inspections and home appraisals are commonly confused, but they are two very different things! Listen in as Adam DeSpain, NMLS# 1803932 explains the differences. </span> </p> </div> Sun, 05 Jan 2020 21:01:17 GMT https://www.kyinmortgage.com/inspection-vs-appraisal thumbnail main image https://www.kyinmortgage.com/ada-accessibility-statement Kentuckiana Mortgage Group Inc. is committed to providing a website that is accessible to all individuals and compliant with accessibility guidelines. We are continually making improvements to meet these guidelines, and our website has been designed with accessibility in mind. <div data-rss-type="text"> <p> <span> Kentuckiana Mortgage Group Inc. is committed to providing a website that is accessible to all individuals and compliant with accessibility guidelines. We are continually making improvements to meet these guidelines, and our website has been designed with accessibility in mind. </span> </p> <p> <br/> </p> <p> <span> If you need assistance or have specific questions or feedback about this site’s accessibility, please contact us via email at  </span> <a href="mailto:info@kyinmortgage.com" target="_blank"> info@kyinmortgage.com </a> <span> <span> or by phone at 812-725-0017. </span> </span> </p> <p> <br/> </p> <p> <span> If you have found an inaccessible area on the site, please assist our team by informing us of the issue via email at  </span> <a href="mailto:info@kyinmortgage.com" target="_blank"> info@kyinmortgage.com </a> <span> <span> or by phone at 812-725-0017. </span> </span> </p> <p> <br/> </p> <p> <span> <span>  </span> In the event a page cannot be made accessible, we will work with you to make a text version of the content available. </span> </p> </div> Wed, 01 Jan 2020 21:04:27 GMT https://www.kyinmortgage.com/ada-accessibility-statement thumbnail main image https://www.kyinmortgage.com/indiana-property-taxes Indiana property taxes can be confusing! Listen as Brad Sea, NMLS# 425420 runs through the basics of property taxes and tax proration. <div data-rss-type="text"> <p> <span> Indiana property taxes can be confusing! Listen as Brad Sea, NMLS# 425420 runs through the basics of property taxes and tax proration. </span> </p> </div> Sun, 01 Dec 2019 20:53:09 GMT https://www.kyinmortgage.com/indiana-property-taxes thumbnail main image https://www.kyinmortgage.com/upfront-costs Saving up for a down payment is important, but there could be other costs when buying a home! Adam DeSpain #NMLS 1803932 explains 4 costs that you should consider as you prepare to buy your new home. <div data-rss-type="text"> <p> <span> <span> Saving up for a down payment is important, but there could be other costs when buying a home! </span> </span> <a href="https://www.facebook.com/Adam-DeSpain-NMLS-1803932-Mortgage-Consultant-333259930709872/?__tn__=K-R&amp;eid=ARBNEvgE78A7qH1rbivIvvgIAoQmRvobHdkbBuW7iSOb6_HLzdwmYE0h5LgAj4vpWuPFpcQZCA2e-nwg&amp;fref=mentions&amp;__xts__%5B0%5D=68.ARDX0a-lnaYpI49gFg45s9aX3EcLK4GOWyUHnCTmc0KJRPfJX9a8n-hEKDJTBnE2ejI1Ysc7HZzgjOBymPF14xTh05q1ZJAkHD7fsS0rbu5Vz4ajVYDhXD1EIbwzO_BWxDAJLYfL-FjmKxtHRYaVeYAfBz7A2jyVS6_BDXIENda71GO2WAhzkPZwykfjW6Ci85dsIwCU4d6RFom0r6Ln_P1m-7tP8krQ_8lcvw-F7cqafxMCRhtvhUuvnVIvJFyt5bapkhOWURK1M1osMws7nClgerpQq0mQAIKu1N3alUk5WiqVF8IaJ2xm-Vmc2wweDqSZuBrKXHNNdu_E" target="_blank"> Adam DeSpain </a> <a href="https://www.kyinmortgage.com/mortgageresources/hashtags/NMLS" target="_blank"> #NMLS </a> <span> <span> 1803932 explains 4 costs that you should consider as you prepare to buy your new home. </span> </span> </p> </div> Sun, 29 Sep 2019 20:23:29 GMT https://www.kyinmortgage.com/upfront-costs thumbnail main image https://www.kyinmortgage.com/va-loans Saturday, September 14th marked the 205th anniversary of the ‘Star Spangled Banner’. What better way to celebrate the creation of our national anthem than providing valuable information to those who have served our country! Listen to find out more from Brad Sea NMLS# 425420 <div data-rss-type="text"> <p> <span> Saturday, September 14th marked the 205th anniversary of the ‘Star Spangled Banner’. What better way to celebrate the creation of our national anthem than providing valuable information to those who have served our country! Listen to find out more from Brad Sea NMLS# 425420. </span> </p> </div> Sun, 15 Sep 2019 19:33:36 GMT https://www.kyinmortgage.com/va-loans thumbnail main image https://www.kyinmortgage.com/homeowners-insurance <div data-rss-type="text"> <p> <span> With every new purchase loan, you need to set up new homeowners insurance. Eric Jones NMLS# 428259 talks with Rob Holtzmann about what he does at Hyland Insurance, how he can help home buyers, and common misconceptions associated with homeowners insurance. </span> </p> </div> Sun, 08 Sep 2019 19:21:12 GMT https://www.kyinmortgage.com/homeowners-insurance thumbnail main image https://www.kyinmortgage.com/taxes-homeownersinsurance What are property taxes and homeowners insurance? Adam DeSpain NMLS# 1803932 dives into the specifics of both! <div data-rss-type="text"> <p> <span> What are property taxes and homeowners insurance? </span> </p> <p> <br/> </p> <p> <span> <span>  </span> Adam DeSpain NMLS# 1803932 dives into the specifics of both! </span> </p> </div> Fri, 23 Aug 2019 19:11:35 GMT https://www.kyinmortgage.com/taxes-homeownersinsurance thumbnail main image https://www.kyinmortgage.com/condominiums Keith Cullens NMLS# 469463 discusses some important details you should know about condominiums! If you have any questions be sure to reach out to us at 812-725-0017. <div data-rss-type="text"> <p> <span> Keith Cullens NMLS# 469463 discusses some important details you should know about condominiums! If you have any questions be sure to reach out to us at 812-725-0017. </span> </p> </div> Sun, 04 Aug 2019 18:56:51 GMT https://www.kyinmortgage.com/condominiums thumbnail main image https://www.kyinmortgage.com/dti-ratio In addition to your credit score, your debt-to-income ratio (DTI) is an important piece of your overall financial health. More specifically, DTI is a personal finance measure that compares your debt payments to your gross monthly income. When figuring out how much you may qualify to borrow, brokers factor in the total percentage of income that is paid toward debt every month. <div> <img src="https://irp.cdn-website.com/c9eec616/dms3rep/multi/7852e112b197410fb7b2ff1f5fb426a3.webp" alt=""/> </div> <div data-rss-type="text"> <h3> <span> What Is Debt-To-Income Ratio? </span> </h3> </div> <div data-rss-type="text"> <p> <span> <span> In addition to your credit score, your debt-to-income ratio (DTI) is an important piece of your overall financial health. More specifically, DTI is a personal finance measure that compares your debt payments to your gross monthly income. When figuring out how much you may qualify to borrow, brokers factor in the total percentage of income that is paid toward debt every month. </span> </span> </p> </div> <div data-rss-type="text"> <h3> <span> <span> How Do I Calculate My DTI? </span> </span> </h3> </div> <div data-rss-type="text"> <p> <span> Monthly Expenses / Pre-Tax Income = DTI </span> </p> <p> <br/> </p> <p> <span> 1. Add up your monthly payments </span> </p> <p> <span> <span> Examples of monthly bills may include: </span> </span> </p> <ul> <li> <span> <span> Rent or mortgage </span> </span> </li> <li> <span> Loans (student, auto, etc.) </span> </li> <li> <span> <span> Child support or alimony </span> </span> </li> <li> <span> <span> Credit cards (use monthly minimum payment) </span> </span> </li> <li> <span> Other debts </span> </li> </ul> <p> <span> 2. Divide your monthly payments by your monthly gross income </span> </p> <p> <span> Your monthly gross income is the amount of pre-tax income you earn each month. </span> </p> </div> <div data-rss-type="text"> <p> <span> 3. Evaluate the results </span> </p> <p> <span> The calculation will yield a decimal - you can multiply by 100 to get your DTI percentage. In general, the lower your DTI the less "risky" you are to lenders. The maximum DTI varies depending on the type of mortgage you are applying for. </span> </p> </div> <div data-rss-type="text"> <p> <span> For more information please contact us at 812-725-0017. </span> </p> </div> Tue, 23 Jul 2019 18:54:07 GMT https://www.kyinmortgage.com/dti-ratio thumbnail main image https://www.kyinmortgage.com/roadblocks-closing-on-mortgage No Description <div> <img src="https://irp.cdn-website.com/c9eec616/dms3rep/multi/54c612_b3237ff5956d4767bdb2f37b6078e1f9-mv2_d_2551_6049_s_4_2.webp" alt=""/> </div> Mon, 08 Jul 2019 18:46:41 GMT https://www.kyinmortgage.com/roadblocks-closing-on-mortgage thumbnail main image https://www.kyinmortgage.com/broker-vs-bank NO Description Tue, 25 Jun 2019 18:43:42 GMT https://www.kyinmortgage.com/broker-vs-bank thumbnail main image https://www.kyinmortgage.com/usda-loans Keith Cullens NMLS# 469463 goes over some key factors of a USDA loan. Reach out to us at , 812-725-0017 to see if you may be eligible! <div data-rss-type="text"> <p> <span> Keith Cullens NMLS# 469463 goes over some key factors of a USDA loan. Reach out to us at 812-725-0017 to see if you may be eligible! </span> </p> </div> Sun, 16 Jun 2019 18:41:14 GMT https://www.kyinmortgage.com/usda-loans thumbnail main image https://www.kyinmortgage.com/mortgage-terms Our Mortgage Loan Originators will explain everything you need to know, but understanding some basic mortgage concepts may help you feel more comfortable before you begin the process of obtaining a mortgage. <div data-rss-type="text"> <p> <span> Our Mortgage Loan Originators will explain everything you need to know, but understanding some basic mortgage concepts may help you feel more comfortable before you begin the process of obtaining a mortgage. </span> </p> </div> <div data-rss-type="text"> <p> <span> Mortgage Broker </span> </p> <p> <span> Mortgage brokers shop around to help borrowers connect with lenders who have the best rate and fees for the borrower. While mortgage brokers handle some of the funding paperwork, the mortgage lender is ultimately responsible for underwriting approval. </span> </p> </div> <div data-rss-type="text"> <p> <span> Mortgage Lender </span> </p> <p> <span> Lenders are financial institutions that issue loans. </span> </p> </div> <div data-rss-type="text"> <p> <span> Pre-Qualification </span> <span> <span> </span> </span> </p> <p> <span> The process in which a home buyer talks with a mortgage professional and determines how much they qualify to borrow. Getting pre-qualified will give insight as to what price range borrowers qualify for, allow them to talk monthly payments with a broker, and keep them competitive with other potential buyers. </span> </p> </div> <div data-rss-type="text"> <p> <span> Down Payment </span> </p> <p> <span> The amount of money a buyer pays at closing to fund a home purchase, usually expressed as a percentage of the total home price. The required down payment amount varies depending on the loan type. </span> </p> </div> <div data-rss-type="text"> <p> <span> Debt-to-Income Ratio (DTI) </span> <span> <span> </span> </span> </p> <p> <span> Personal finance measure that compares an individual's debt payments to their gross monthly income. When figuring out how much money an individual can afford to borrow, brokers factor in the total percentage of an individual's income that is paid toward debt every month. </span> </p> </div> <div data-rss-type="text"> <p> <span> Interest Rate </span> </p> <p> <span> <span> The amount charged by a lender in exchange for loaning money to a borrower. Interest rate is expressed as a yearly percentage of the total loan amount and is paid on a monthly basis as part of the mortgage loan payment. Rates change daily, but once a borrower </span> </span> <a href="https://www.redfin.com/definition/lock-in" target="_blank"> l </a> <span> ocks a rate for a fixed-rate mortgage, they will make payments according to this rate for the life of the loan </span> </p> </div> <div data-rss-type="text"> <p> <span> Private Mortgage Insurance (PMI) </span> </p> <p> <span> Specific type of insurance that protects the mortgage lender in the event of borrower default. In most cases, homeowners are required to purchase PMI if they do not put 20% down. The cost of PMI can be added to a borrower's monthly mortgage payment, covered via a one-time upfront payment at closing or a combination of both. </span> </p> </div> <div data-rss-type="text"> <p> <span> Appraisal </span> </p> <p> <span> A written estimate of a licensed appraiser's opinion of a home's current market value based on comparable recent sales of similar homes, the current condition of the property, and the surrounding neighborhood. </span> </p> </div> <div data-rss-type="text"> <p> <span> Closing Costs </span> </p> <p> <span> Fees associated with a home purchase that are paid at the closing of a real estate transaction. The closing costs fees may include, but are not limited to: appraisal, credit report, origination fee, pre-paid interest, property tax, title search, and underwriting fees. </span> </p> </div> <div data-rss-type="text"> <p> <span> Closing </span> <span> <span> </span> </span> </p> <p> <span> The formal documented sale of a home and/or property that includes signing all documents associated with the exchange and payment of required closing fees. </span> </p> </div> Fri, 14 Jun 2019 17:36:14 GMT https://www.kyinmortgage.com/mortgage-terms thumbnail main image https://www.kyinmortgage.com/down-payment-assistance Eric Jones NMLS# 428259 lists just a few of the careers fields that may qualify for a Down Payment Assistance program! <div data-rss-type="text"> <p> <span> Eric Jones NMLS# 428259 lists just a few of the careers fields that may qualify for a Down Payment Assistance program! </span> </p> </div> Mon, 10 Jun 2019 18:38:25 GMT https://www.kyinmortgage.com/down-payment-assistance thumbnail main image https://www.kyinmortgage.com/floyd-memorial-foundation-golf-scramble The team enjoyed the opportunity to get out on the golf course and support the Floyd Memorial Foundation at their Annual Golf Scramble! <div> <img src="https://irp.cdn-website.com/c9eec616/dms3rep/multi/54c612_dcb4692a519b48a79e0630c7e66649f2-mv2_d_1747_1747_s_2.webp" alt=""/> </div> <div data-rss-type="text"> <p> <span> The team enjoyed the opportunity to get out on the golf course and support the Floyd Memorial Foundation at their Annual Golf Scramble! </span> </p> </div> Thu, 06 Jun 2019 18:34:12 GMT https://www.kyinmortgage.com/floyd-memorial-foundation-golf-scramble thumbnail main image https://www.kyinmortgage.com/louisville-corporate-games The team had a blast participating in the 2019 Louisville Corporate Games! <div data-rss-type="text"> <p> <span> The team had a blast participating in the 2019 Louisville Corporate Games! </span> </p> </div> Fri, 31 May 2019 18:31:33 GMT https://www.kyinmortgage.com/louisville-corporate-games thumbnail main image https://www.kyinmortgage.com/house-hunting Whether you are a seasoned home buyer or looking for your very first home, these tips & tricks will help you through the process! <div> <img src="https://irp.cdn-website.com/c9eec616/dms3rep/multi/Screenshot--2845-29.png" alt=""/> </div> <div data-rss-type="text"> <p> <span> Whether you are a seasoned home buyer or looking for your very first home, these tips &amp; tricks will help you through the process! </span> </p> </div> Thu, 30 May 2019 18:26:43 GMT https://www.kyinmortgage.com/house-hunting thumbnail main image https://www.kyinmortgage.com/down-payment-options Brad Sea NMLS# 425420 gives us some great information about different down payment options (even including 0% down)! <div data-rss-type="text"> <p> <span> Brad Sea NMLS# 425420 gives us some great information about different down payment options (even including 0% down)! </span> </p> </div> Tue, 28 May 2019 18:17:30 GMT https://www.kyinmortgage.com/down-payment-options thumbnail main image https://www.kyinmortgage.com/5-reasons-to-consider-refinancing Adam DeSpain NMLS# 1803932 gives us 5 reasons why you should be considering refinancing your current mortgage. <div data-rss-type="text"> <p> <span> Adam DeSpain NMLS# 1803932 gives us 5 reasons why you should be considering refinancing your current mortgage. </span> </p> </div> Mon, 20 May 2019 18:14:29 GMT https://www.kyinmortgage.com/5-reasons-to-consider-refinancing thumbnail main image https://www.kyinmortgage.com/tips-for-first-time-home-buyers This is one of the most important steps to buying a home. Getting pre-qualified will give insight as to what price range you qualify for, allow you to talk monthly payments with a broker, and keep you competitive with other potential buyers. <div data-rss-type="text"> <p> <span> 1. Get Pre-Qualified </span> </p> <p> <span> This is one of the most important steps to buying a home. Getting pre-qualified will give insight as to what price range you qualify for, allow you to talk monthly payments with a broker, and keep you competitive with other potential buyers. </span> </p> </div> <div data-rss-type="text"> <p> <span> 2. Work With a Real Estate Agent </span> </p> <p> <span> Working with an agent who is knowledgeable about the market will help take a large weight off your shoulders. Agents are your advocates, they will be by your side throughout the entire process and be there to answer any questions you may have. </span> </p> </div> <div data-rss-type="text"> <p> <span> 3. Stay Mindful of Your Budget </span> <span> <span> </span> </span> </p> <p> <span> Make a list of your needs versus your wants. Knowing the difference between what you really need and what you want will help you compromise and stay on budget. </span> </p> </div> <div data-rss-type="text"> <p> <span> 4. Be Open </span> </p> <p> <span> Don't judge a house before you've seen it all! Work with your real estate agent to find homes that fit what you're looking for and are within your budget. </span> </p> </div> Thu, 16 May 2019 18:12:01 GMT https://www.kyinmortgage.com/tips-for-first-time-home-buyers thumbnail main image https://www.kyinmortgage.com/mortgage-brokers-vs-direct-lenders Eric Jones NMLS# 428259 tells us the difference between a mortgage broker and a direct lender. <div data-rss-type="text"> <p> <span> Eric Jones NMLS# 428259 tells us the difference between a mortgage broker and a direct lender. </span> </p> </div> Mon, 29 Apr 2019 17:49:50 GMT https://www.kyinmortgage.com/mortgage-brokers-vs-direct-lenders thumbnail main image https://www.kyinmortgage.com/manufactured-homes-what-you-need-to-know Brad Sea NMLS# 425420 tells us some things to know when looking to finance a manufactured home! <div data-rss-type="text"> <p> <span> Brad Sea NMLS# 425420 tells us some things to know when looking to finance a manufactured home! </span> </p> </div> Mon, 22 Apr 2019 17:45:13 GMT https://www.kyinmortgage.com/manufactured-homes-what-you-need-to-know thumbnail main image https://www.kyinmortgage.com/pre-qualification-vs-pre-approval Keith Cullens NMLS# 469463 tells us the difference between a pre-qualification and a pre-approval and when they are most likely used! <div data-rss-type="text"> <p> <span> Keith Cullens NMLS# 469463 tells us the difference between a pre-qualification and a pre-approval and when they are most likely used! </span> </p> </div> Mon, 15 Apr 2019 17:12:18 GMT https://www.kyinmortgage.com/pre-qualification-vs-pre-approval thumbnail main image https://www.kyinmortgage.com/ribbon-cutting-ceremony We would like to thank the City of New Albany, the Mayor's Office, Extol Magazine, Develop New Albany A Main Street Organization and everyone that attended or sent well wishes to us the day of our official Ribbon Cutting Ceremony. It meant so much to us and we look forward to these new beginnings! <div data-rss-type="text"> <p> <span> We would like to thank the City of New Albany, the Mayor's Office, Extol Magazine, Develop New Albany A Main Street Organization and everyone that attended or sent well wishes to us the day of our official Ribbon Cutting Ceremony. It meant so much to us and we look forward to these new beginnings! </span> </p> </div> Tue, 02 Apr 2019 17:42:13 GMT https://www.kyinmortgage.com/ribbon-cutting-ceremony thumbnail main image https://www.kyinmortgage.com/schuler-bauer-awards-2019 The Kentuckiana Mortgage Group team had a wonderful night at the Schuler Bauer Awards! We had the honor of giving away the 'Rookie of the Year' Award for both Indiana and Kentucky. Thank you to Schuler Bauer Real Estate Services for hosting such a fun night. <div data-rss-type="text"> <p> <span> The Kentuckiana Mortgage Group team had a wonderful night at the Schuler Bauer Awards! We had the honor of giving away the 'Rookie of the Year' Award for both Indiana and Kentucky. Thank you to Schuler Bauer Real Estate Services for hosting such a fun night. </span> </p> </div> Tue, 19 Feb 2019 17:34:46 GMT https://www.kyinmortgage.com/schuler-bauer-awards-2019 thumbnail main image