Louisville, Kentucky First Time Home Buyer Programs 2013
Conventional
- Insured by approved mortgage insurance company.
- Minimum credit score of 660 or better.
- Quick turnaround time, 20 percent down payment and no up-front or monthly mortgage insurance.
FHA
- Insured by the Federal Housing Administration.
- Down payments as little as 3.5 percent.
- Can use DAP for 3.5 percent down payment requirement.
- Upfront and monthly mortgage insurance.
- Minimum credit score of 640.
VA
- Guaranteed by the Veterans Administration for qualified military veterans.
- No down payment if the property appraises for the sale price or greater.
- Credit underwriting is flexible.
- Minimum credit score of 640.
- No monthly mortgage insurance payments.
RHS
- Guaranteed by Rural Housing Services (RHS).
- Home must be located in a rural area as defined by RHS.
- No down payment if the property appraises for the sale price or greater.
- Minimum credit score of 640.
- Joel Lobb (NMLS#57916)Senior Loan Officer502-905-3708 cell
