FHA Mortgage Loan in Kentucky with 500 Credit Score
🏡 How to Get a Kentucky FHA Mortgage Loan with a 500 Credit Score
By Joel Lobb | Senior Loan Officer, EVO Mortgage (NMLS #57916)
Are you a first-time homebuyer in Kentucky with a credit score around 500? Don’t worry—you’re not out of options. With an FHA loan, you may still qualify to buy a home—even if you’ve faced credit challenges in the past.
Can You Really Get a Mortgage with a 500 Credit Score in Kentucky?
Yes, you can. FHA loans are government-backed mortgages designed to help borrowers with lower credit scores and limited savings for a down payment. While many lenders prefer scores above 580, some—like us at EVO Mortgage—will work with credit scores as low as 500, depending on your financial picture.
Learn the difference between FHA vs. VA loans in Kentucky
Kentucky FHA Loan Requirements for a 500 Credit Score
| Requirement | Details |
|---|---|
| Minimum Credit Score | 500+ (10% down) / 580+ (3.5% down) |
| Down Payment | 10% for 500–579 credit scores |
| Income Verification | Two years of steady employment or verifiable income |
| Debt-to-Income Ratio | Generally 43% or less, but exceptions allowed with strong compensating factors |
| Loan Type | 30-year fixed FHA mortgage |
| Property Type | Primary residence (must meet FHA appraisal standards) |
What Are the Benefits of FHA Loans in Kentucky?
- Low credit score approval (as low as 500)
- Flexible underwriting guidelines
- Smaller down payment required
- Can be combined with KHC Down Payment Assistance
- Easier to qualify after bankruptcy or past delinquencies
How to qualify for an FHA loan after bankruptcy
Why Work with Joel Lobb at EVO Mortgage?
- Over 20 years of helping Kentucky families get mortgage approval
- Specializing in first-time homebuyers and bad credit borrowers
- Free credit evaluations & pre-approvals
- Same-day loan approvals in many cases
- Local knowledge of Kentucky FHA, VA, USDA, and KHC loan programs
How to Improve Your Credit Score Before Applying
If your score is below 580, you may need to put down 10%. Want to save more and qualify for a 3.5% down payment instead?
Click here to learn how to improve your credit score for a mortgage
Ready to See If You Qualify?
Tap below to get started with a free, no-obligation mortgage pre-approval:
FHA Loan Info – Tap to Apply
📧 kentuckyloan@gmail.com | 📞 502-905-3708
www.nmls.consumeraccess.org | NMLS #1734641
Equal Housing Lender | EVO Mortgage
Final Thoughts
Getting a mortgage in Kentucky with a 500 credit score is possible—with the right loan officer, the right lender, and the right guidance. Whether you’ve been turned down before or you're just getting started, you deserve a second chance. FHA loans were designed with you in mind.
Let’s turn your homeownership dream into a reality—starting today.
