I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 1300 Kentucky families buy their first home or refinance their current mortgage for a lower payment; Kentucky First time buyers we still how available down payment assistance with KHC. Free Mortgage applications/ same day approvals. Web site is not endorsed by the FHA, VA, USDA govt agency. Text/call 502-905-3708 kentuckyloan@gmail.com NMLS 57916 NMLS 1738461
Pages
- Kentucky First-time Home Buyer Programs
- Credit Scores Required For A Kentucky Mortgage Loan Approval in 2024
- Kentucky FHA Mortgage Information
- Kentucky VA Mortgage Loan Information
- 4 Things Required for a KY Mortgage Loan Approval
- USDA Rural Housing Kentucky Loan Information
- Down Payment Assistance Kentucky 2024 Kentucky Housing Corporation KHC
- Zero Down Kentucky Mortgages
- First-time Home-buyers in Kentucky
- Documents Needed Mortgage Approval in Kentucky
- Free Mortgage Credit Scores For Mortgage Loan Approval
- Do's & Dont's before closing:
- Closing Costs Kentucky Mortgage
- Lock Kentucky Mortgage Loan Rate
- Home Inspections Kentucky Mortgage Loan
- Testimonials
- Legal / Privacy Policy / Accessibility Statements
Kentucky First Time Home Buyer Loan Programs
Kentucky First Time Home Buyer Programs to Consider for 2022 Kentucky Homebuyers.
First Time Home Buyer Programs to Consider for 2022 Kentucky Homebuyers.
- Kentucky Federal Housing Administration (FHA) loans: “With a 3.5% down payment, Kentucky homebuyers may be able to get an FHA loan with a 580 credit score or higher. If you can manage a 10% down payment, though, that minimum goes as low as 500.”
- Kentucky Conventional loans: “The most popular loan type typically comes with a 620 minimum credit score.”
- US. Department of Agriculture (USDA) loans: “In general, lenders require a minimum credit score of 620-640 for a USDA loan, though some may go as low as 580.”
- US. Department of Veterans Affairs (VA) loans: “VA loans don’t technically have a minimum credit score, but lenders will typically require between 580 and 620.”
Senior Loan Officer
I
Kentucky First Time Home Buyer Programs
• At least 3%-5% down
Max Conventional loan limits are set at $647,200 for 2022 in Kentucky
New Income limits for most counties (*) in Kentucky are $91,900 for a 4 unit household and household families of five or more + can make up to $121,300.
The Northern Kentucky Counties (***) of Boon, Kenton, Campbell, Bracken, Gallatin, and Pendleton are $99,250 for a household of four or less and up to $130,000 for a family of five or more.
Remember, Jefferson County Kentucky, Fayette County Kentucky are not eligible for USDA loans.
There is no max USDA loan limit.
Maximum FHA loan limits in Kentucky are set at $420,680 for 2022…If you are looking at a larger loan amount, then you would need to look at doing a conventional loan which has a max loan amount of $647,200.00
Regular DAP
- Purchase price up to $346,644 with Secondary Market.
- Assistance in the form of a loan up to $6,000 in $100 increments.
- Repayable over a ten-year term at 5.50 percent.
- Available to all KHC first-mortgage loan recipients.
Affordable DAP
- Purchase price up to $346,644 with Secondary Market.
- Assistance up to $6,000.
- Repayable over a ten-year term at 1.00 percent.
- Borrowers must meet Affordable DAP income limits.
MORE ABOUT DOWN PAYMENT AND CLOSING COSTS
- No liquid asset review and no limit on borrower reserves.
- Specific credit underwriting standards may apply to down payment programs