Every Kentucky Loan Type. One Local Expert.
Whether you’re buying your first home, using down payment assistance, or rebuilding credit — there’s a program that fits. Compare them side by side before you commit.

🏠 FHA Loan

The go-to for first-time buyers and 580+ credit. Low down payment and flexible guidelines.

3.5% down · 580+ creditLearn More →

🎖 VA Loan

Zero down and no monthly mortgage insurance for veterans and active-duty service members.

$0 down · VA eligibleLearn More →

🌾 USDA Loan

100% financing for eligible rural and suburban Kentucky buyers within income limits.

$0 down · USDA areasLearn More →

🏛 KHC Assistance

Kentucky Housing down payment assistance for first-time and repeat buyers.

Up to $12,500 assistanceLearn More →

📈 Conventional

Best long-term value for stronger credit. PMI cancels at 20% equity, unlike FHA.

3% down · 620+ creditLearn More →

💰 Zero Down Options

Every route to buying with nothing down in Kentucky — VA, USDA, and KHC combos.

$0 down programsLearn More →

🌟 First-Time Buyers

All Kentucky first-time homebuyer programs compared in plain English.

Programs & grantsLearn More →

📊 Credit Scores

What score you actually need for each loan type in 2026 — and how to raise yours.

By loan programLearn More →

What is the most common reason a mortgage gets denied in Kentucky

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Why Mortgage Loans Get Denied in Kentucky: Top 10 Reasons If you're applying for a home loan in Kentucky, understanding why mortgage applications are denied can dramatically improve your chances of approval. Mortgage lenders must follow strict underwriting guidelines when approving FHA, VA, USDA, and conventional loans. When those guidelines are not met, the loan may be declined. Below are the most common reasons borrowers get a mortgage denied in Kentucky and what you can do to avoid these issues. 1. Low Credit Score Your credit score plays a major role in mortgage approval. Most loan programs require a minimum credit score: FHA loans: typically 580–620 VA loans: often around 620+ USDA loans: usually 620-40 for automated underwriting Conventional loans (Fannie Mae): generally 620+ Late payments, collections, high credit card balances, and past bankruptcies can lower your score and increase the chances of a mortgage denial. 2. Debt-to-Income Ratio Too Hig...
Getting a Kentucky Mortgage in 3 Simple Steps
No confusing paperwork trails. No surprise fees. A clear path from first call to keys in hand.
01

💬 Get Pre-Qualified

Free application review with same-day answers. We look at your credit, income, and goals — no cost, no obligation, no pressure.

02

📋 Compare Your Options

FHA vs. Conventional vs. USDA vs. KHC — run side by side with your actual numbers so you see the real payment before you commit.

03

🏠 Close & Get Your Keys

Guided from contract to closing — appraisal, title, and underwriting coordinated so you always know what happens next.

Watch: Kentucky Mortgage Guides
Straight answers from my YouTube channel — no jargon, no sales pitch.
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▶ More videos on my YouTube channel →
Joel Lobb and family - Kentucky mortgage loan officer
Kentucky Local. Not a Call Center.

Hi, I’m Joel Lobb — a Kentucky dad who’s spent 20+ years helping families across all 120 counties buy their first home. When you call, you get me — not a phone tree. Questions on a Saturday morning? I answer.

1,300+ Kentucky families have trusted me with their mortgage — from Louisville to Lexington to the smallest towns in the state. Free application reviews, same-day pre-approvals, and honest answers about what you actually qualify for.

See What You Qualify For →

Kentucky FHA Annual MIP and VA Funding Fee Reduction - Update!

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HUD and VA have both announced reductions to the costs associated with their loans in Kentucky for FHA and VA loans and lower mortgage insurance premiums.  
 



 
Kentucky FHA Annual Mortgage Insurance Premium
 
HUD announced in Mortgagee Letter 2023-05 a .30% reduction to the annual (paid monthly) MIP rates as well as an increase to the base loan amount threshold for the lower MIP rates.  With this threshold increase, loan amounts greater than $625,500 but less than or equal to $726,200 can see up to .55% reduction in annual (paid monthly) MIP.
 
All loans in process and new applications will be able to use the lower rates, however, we are currently working on updating our system to accommodate and will advise as soon as that has been completed. This change helps to increase FHA products affordability and allows FHA product to be more competitive.
 
Please note, there is no change to the upfront Mortgage Insurance Premium (UFMIP), this change only impacts annual (paid monthly) MIP.  See below for a grid of the new rates versus the old rates.

New Annual (Paid Monthly) MIP Rates:

Loan Terms > 15 Years

Base Loan Amount

≤ 95% LTV

> 95% LTV

<=$726,200

.50%

.55%

>$726,200

.70%

.75%

Loan Terms ≤ 15 Years

Base Loan Amount

≤ 78% LTV

>78% and
≤ 90% LTV

> 90% LTV

<=$726,200

.15%

.15%

.40%

>$726,200

.15%

.40%

.65%

     

 Prior Annual (Paid Monthly) MIP Rates: 

Loan Terms > 15 Years

Base Loan Amount

≤ 95% LTV

> 95% LTV

<=$625,500

.80%

.85%

>$625,500

1.00%

1.05%

Loan Terms ≤ 15 Years

Base Loan Amount

≤ 78% LTV

>78% and
≤ 90% LTV

> 90% LTV

<=$625,500

.45%

.45%

.70%

>$625,500

.45%

.70%

.95%

     

Kentucky VA Funding Fee
 
PRMG is pleased advise and align with the recent announcement by VA in Circular 26-23-06 for a reduction to VA funding fee rates for loans closed on or after April 7, 2023.   See below for a grid of the new funding fee versus the old funding fee.

Funding Fee for loans closed on or after 04/07/23:

Loan Purpose

Down Payment

% for
1st Time Use

% for
Subsequent Use

Purchase

0 – 4.99%

2.15%

3.30%

Purchase

5 – 9.99%

1.50%

1.50%

Purchase

10% or More

1.25%

1.25%

Refinance
(Cash Out)

N/A

2.15%

3.30%

 Funding Fee for loans closed prior to 04/07/23:

Loan Purpose

Down Payment

% for
1st Time Use

% for
Subsequent Use

Purchase

0 – 4.99%

2.30%

3.60%

Purchase

5 – 9.99%

1.65%

1.65%

Purchase

10% or More

1.40%

1.40%

Refinance
​​​(Cash Out)

N/A

2.30%

3.60%

 
HUD announced in Mortgagee Letter 2023-05 a .30% reduction to the annual (paid monthly) MIP rates as well as an increase to the base loan amount threshold for the lower MIP rates.  With this threshold increase, loan amounts greater than $625,500 but less than or equal to $726,200 can see up to .55% reduction in annual (paid monthly) MIP.
 
All loans in process and new applications will be able to use the lower rates, however, we are currently working on updating our system to accommodate and will advise as soon as that has been completed. This change helps to increase FHA products affordability and allows FHA product to be more competitive.
 
Please note, there is no change to the upfront Mortgage Insurance Premium (UFMIP), this change only impacts annual (paid monthly) MIP.  See below for a grid of the new rates versus the old rates.

New Annual (Paid Monthly) MIP Rates:

Loan Terms > 15 Years

Base Loan Amount

≤ 95% LTV

> 95% LTV

<=$726,200

.50%

.55%

>$726,200

.70%

.75%

Loan Terms ≤ 15 Years

Base Loan Amount

≤ 78% LTV

>78% and
≤ 90% LTV

> 90% LTV

<=$726,200

.15%

.15%

.40%

>$726,200

.15%

.40%

.65%

     

 Prior Annual (Paid Monthly) MIP Rates: 

Loan Terms > 15 Years

Base Loan Amount

≤ 95% LTV

> 95% LTV

<=$625,500

.80%

.85%

>$625,500

1.00%

1.05%

Loan Terms ≤ 15 Years

Base Loan Amount

≤ 78% LTV

>78% and
≤ 90% LTV

> 90% LTV

<=$625,500

.45%

.45%

.70%

>$625,500

.45%

.70%

.95%

     

Kentucky VA Funding Fee
 
VA in Circular 26-23-06 for a reduction to VA funding fee rates for loans closed on or after April 7, 2023.   See below for a grid of the new funding fee versus the old funding fee.

Funding Fee for loans closed on or after 04/07/23:

Loan Purpose

Down Payment

% for
1st Time Use

% for
Subsequent Use

Purchase

0 – 4.99%

2.15%

3.30%

Purchase

5 – 9.99%

1.50%

1.50%

Purchase

10% or More

1.25%

1.25%

Refinance
(Cash Out)

N/A

2.15%

3.30%

 Funding Fee for loans closed prior to 04/07/23:

Loan Purpose

Down Payment

% for
1st Time Use

% for
Subsequent Use

Purchase

0 – 4.99%

2.30%

3.60%

Purchase

5 – 9.99%

1.65%

1.65%

Purchase

10% or More

1.40%

1.40%

Refinance
​​​(Cash Out)

N/A

2.30%

3.60%

Location: 10602 Timberwood Cir #3, Louisville, KY 40223, USA

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