Your Louisville Mortgage Consultant

I’m Matt Kidd, your mortgage expert. I’m here to help you get a clear picture of what type and amount of loan is realistic. As well as provide countless mortgage loan resources. Need more insights?

Looking to Help Potential Borrowers Obtain The Mortgage Information They Need

Whether you’re a first-time home buyer, looking to trade up, deciding to downsize, or simply wishing for a change, I can help you before you ever make an offer on a property. I take the time to sit down with you and look over your budget, income and savings, helping you get a clear picture of what type and amount of loan is realistic. There are many factors to consider when getting a home loan; interest rates are only one element of the complete package. I can help you consider all your options so you can concentrate on making the best decision for your needs.

The financial aspects of home buying can be stressful and overwhelming—but they don’t have to be, not with a trained and caring professional like myself in your corner. The content I provide is to help individuals have a better understanding of the mortgage business and to help them anyway I can.

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What To Expect When Working With Me

Loan Expert Advice!

Strategic Mortgage Analysis

Mortgage Planning

Communication

Speedy Approvals!

Competitive Rates & Fees

First time home buyer? Download your home buyers guide.

Kentucky Mortgage News, Tips, & Insights

Is A 15 or 30 Year Fixed Mortgage Right For Me?

Is A 15 or 30 Year Fixed Mortgage Right For Me? 5184 3456 Casey

You have applied for a mortgage and are now faced with a question: Should you get a 15 year mortgage or a 30 year one? How are they different and…

Homebuying 101: Prequalification Versus Preapproval

Homebuying 101: Prequalification Versus Preapproval 2000 1333 Casey

For some, the home buying process may be a “walk in the park,” given the situation that you’ve walked through this park a few times. For others—and probably, most—the home buying…

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Frequently Asked Questions

The pre-approval process is much more complete than pre-qualification. For pre-qualification, the loan officer asks you a few questions and provides you with a pre-qual letter. Pre-approval includes all the steps of a full approval, except for the appraisal and title search. Pre-approval can put you in a better negotiating position, much like a cash buyer.

Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts. The decision to refinance can be difficult, since there are several reasons to refinance. However, if you are looking to save money, try this calculation:

Calculate the total cost of the refinance
Calculate the monthly savings
Divide the total cost of the refinance (#1) by the monthly savings (#2). This is the “break even” time. If you own the house longer than this, you will save money by refinancing.
Since refinancing is a complex topic, consult a mortgage professional.

A mortgage broker counsels you on the loans available from different wholesalers, takes your application, and usually processes the loan which involves putting together the complete file of information about your transaction including the credit report, appraisal, verification of your employment and assets, and so on. When the file is complete, but sometimes sooner, the lender “underwrites” the loan, which means deciding whether or not you are an acceptable risk.

Stated income/verified assets: Income is disclosed and the source of the income is verified, but the amount is not verified. Assets are verified, and must meet an adequacy standard such as, for example, 6 months of stated income and 2 months of expected monthly housing expense.

Stated income/stated assets: Both income and assets are disclosed but not verified. However, the source of the borrower’s income is verified.

No ratio: Income is disclosed and verified but not used in qualifying the borrower. The standard rule that the borrower’s housing expense cannot exceed some specified percent of income, is ignored. Assets are disclosed and verified.

No income: Income is not disclosed, but assets are disclosed and verified, and must meet an adequacy standard.

Stated Assets or No asset verification: Assets are disclosed but not verified, income is disclosed, verified and used to qualify the applicant.

No asset: Assets are not disclosed, but income is disclosed, verified and used to qualify the applicant.
No income/no assets: Neither income nor assets are disclosed.