FHA Kentucky Home Loans
The Federal Housing Administration was established to encourage home ownership throughout the country with the belief that home ownership increases the stability of a community. Prior to the creation of the FHA, large down payments were required to secure a mortgage loan. At present, a minimum of 3.5% investment is required by the borrower for the purchase of a home. As an incentive to investors who purchase loans, FHA insures the loan against default, should the borrower fail to repay. FHA guidelines also allow for greater flexibility with regards to credit history and qualifying ratios.
Kentucky FHA program opens up opportunities that conventional mortgages do not offer:
Expanded Debt Ratios to 29%/41%
Non-traditional credit history is considered with minimum credit score of 580
Expanded credit criteria.
All of the down payment may be gifted
Seller may contribute up to 6% toward the closing costs.
Non-occupant cosigners are allowed.
401-k loans are not counted in the debt ratios.
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I specialize in Kentucky FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 589 Kentucky families buy their first home and refinance their current mortgage for a lower rate; First time buyer $0 down still available with down payment assistance with KHC. Free Mortgage applications same day approvals. This web site is not endorsed by the FHA, VA, USDA, HUD or any other govt agency.Text/call 502-905-3708 kentuckyloan@gmail.com NMLS#57916 Equal Housing Lender
Pages
- 4 Things Required for a KY Mortgage Loan Approval
- Credit Scores Kentucky Mortgage Loan
- Kentucky First-time Home Buyer Programs
- Down Payment Assistance Kentucky 2019
- Kentucky FHA Mortgage Information
- Kentucky VA Mortgage Loan Information
- USDA Rural Housing Kentucky Loan Information
- Zero Down Kentucky Mortgages
- First-time Home-buyers in Kentucky
- Documents Needed Mortgage Approval in Kentucky
- Do's & Dont's before closing:
- Free Credit Score Booklet
- Closing Costs Kentucky Mortgage
- Lock Kentucky Mortgage Loan Rate
- Home Inspections Kentucky
