Kelly Swanson - Loan Officer

06/18/2026

One of the biggest misconceptions I hear is that you need perfect credit to buy a home. You don’t.

While every situation is different, life gets a lot easier when your credit score is 620 or higher.

If you’re a W-2 employee, getting pre-approved is usually pretty straightforward. To get started, I’ll typically need:

✅ Last two years of W-2s (currently 2024 and 2025)
✅ Your most recent pay stubs
✅ Sometimes the final pay stub from each year
✅ The most recent 60 days of bank statements

That’s enough for us to start the conversation.

Then we’ll talk about what really matters:

🏡 What monthly payment feels comfortable?
💰 How much cash do you want to bring to closing?
🎯 What are your goals?

The sooner we know those answers, the sooner we can build a game plan.

06/17/2026

When you’re moving from out of state and starting a new position, one of the most important documents is your offer letter. Typically, we’ll need it to:

✅ Be on company letterhead
✅ Confirm your start date
✅ Show that the position is permanent full-time employment
✅ Include your salary, hourly wage, or guaranteed hours

In some cases, it’s even possible to close on your new home before your first day of work if we’re able to obtain the proper written verification from your employer.

The key is getting the paperwork lined up early so there are no surprises along the way. If you’re relocating for work, let’s talk about the process before you start house hunting!

06/15/2026

🚤📞 MORTGAGE HOTLINE

Steve called and asked, “Can I buy a boat off Facebook Marketplace while I’m buying a house?”

Steve… buddy… remember when we talked about the truck? And the jet ski? And the golf cart?

Our agreement was simple:

🚫 Nothing with a motor until after closing.

The good news? The boat will still be there after you get the keys. The bad news? If you buy it now, your underwriter might want to take it for a test drive.

06/11/2026

06/11/2026

Thinking about buying a home in Central Kentucky? Let’s look at a real-world example.

🏠 Purchase Price: $250,000
💰 Down Payment (3% Conventional First-Time Buyer): $7,500
📈 Principal & Interest: $1,572.85/month
📋 Plus taxes, homeowners insurance, and PMI

Your estimated total monthly payment would be approximately $2,059 per month.

Keep in mind that your down payment is only part of the cash needed to close. You’ll also need to account for closing costs, prepaid taxes, homeowners insurance, and escrow setup.

Want to know what your payment might look like? Send me a message and I’ll run the numbers for your situation.

06/10/2026

there isn’t a specific waiting period.

What matters most is how that new car payment impacts your debt-to-income ratio (DTI). If the payment fits comfortably within your budget and your overall debt is manageable, you may still qualify for a mortgage right away.

That said, my recommendation is to talk with a loan officer before you go car shopping. We can help you understand how much car payment you can comfortably take on without affecting your homebuying goals.

Another reason? Every time you’re shopping for financing, your credit may be reviewed. While rate-shopping windows help minimize the impact, it’s still smart to have a game plan before making major purchases.

If buying a home is on your radar in the next 6–12 months, let’s talk first so you can make informed decisions and keep your options open.

📩 Send me a message if you’d like to know how a new car payment could affect your home purchase.

06/09/2026

This is one of the most common questions I hear.

When you’re renting, a landlord typically looks at your income and may run a credit check. If the rent payment fits within their guidelines, you’re often approved.

Qualifying for a mortgage is different.

As a mortgage lender, we’re not just looking at how much you make - also looking at how much you owe.

We review:
✅ Pay stubs
✅ W-2s and tax documents
✅ Credit history
✅ Monthly debt obligations
✅ Debt-to-income ratio

For example, two people may earn the exact same income, but if one has a car payment, student loans, and credit card debt, they may qualify for less than someone with little or no debt.

The good news? Not qualifying today doesn’t mean you won’t qualify tomorrow. Sometimes a few strategic changes can make a big difference.

If you’ve been told you don’t qualify or you’re wondering where you stand - let’s have a conversation and build a plan.

06/09/2026

I’m excited to share that I am now approved to originate loans through Kentucky Housing Corporation’s Down Payment Assistance Program!

For many buyers, coming up with the down payment and closing costs can be one of the biggest obstacles to homeownership. KHC offers programs that may help eligible buyers bridge that gap and get into a home sooner than they thought possible.

Whether you’re a first-time homebuyer or simply wondering what options might be available to you, I’d love to help you explore your possibilities.

Every buyer’s situation is different, and the best way to find out what you qualify for is to have a conversation.

If you’re thinking about buying a home in Kentucky, let’s talk and see if KHC’s Down Payment Assistance Program could help get you to the closing table!

06/09/2026

Many buyers think they need a huge down payment to purchase a home. The truth is, Kentucky Housing Corporation (KHC) offers programs that may help qualified buyers with down payment assistance and closing costs.

Is it the right fit for everyone? No.

Could it be the right fit for you? Absolutely.

The only way to know is to take a look at your unique situation, your goals, and the available loan options. You might be closer to homeownership than you think.

If you’ve been waiting to buy because you’re worried about the down payment, let’s have a conversation and see what programs may be available to help.

🏡 Your dream of homeownership could be closer than you realize.

06/08/2026

The answer is: probably not—but we may need some explanations.

When money is regularly deposited into your account, underwriters want to know where it’s coming from. In this case, we would likely request a Letter of Explanation stating that the funds are your roommate’s contribution toward rent and household expenses.

As for money leaving your account, we may need to determine whether those payments are simply household expenses or if they’re actual debts.

✅ Utility bills? Typically not counted in your debt-to-income ratio.

✅ Groceries? Not counted.

⚠️ Paying someone back on a personal loan? That may need to be included in your debt-to-income ratio.

Every situation is a little different, which is why it’s important to have a conversation early in the process.