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Joel Lobb Mortgage Broker – FHA , VA , USDA , KHC Call / Text: 502-905-3708 applywithjoel.com Kentucky Mortgage Guide 2026 How to Buy a Home in Kentucky with Little to No Money Down Compare FHA, VA, USDA, and KHC loan options. See which program fits your credit, income, military status, and property location so you can reduce cash to close and get pre-approved the right way. FHA • 580+ can qualify with 3.5% down • Flexible credit guidelines • Can pair with assistance VA • $0 down payment • No monthly mortgage insurance • F...

Kentucky First-Time Homebuyer Guide: Zero Down Payment Options Dreaming of buying a home in Kentucky but worried about the down payment? You're not alone. Fortunately, several loan programs and grants are available that can help you purchase a home with zero money down. This guide walks you through the most effective ways to make that dream a reality in 2025. ✅ Zero Down Payment Options for Kentucky Buyers 🏡 USDA Loans No down payment required Must buy in eligible rural areas Income limits apply (115% of median income) Credit score typically 640+ 🎖️ VA Loans 100% financing for veterans, service members, and eligible spouses No mortgage insurance Lenient credit requirements (often 620+) 🏠 FHA Loans + Down Payment Assistance (DAP) Minimum 3.5% down, often covered by assistance programs Minimum credit score: 580 Accepted grants and gift funds to reduce upfront costs 🏦 Kentucky Housing Corporation (KHC) Assistance ...

I wanted to share an important update regarding the  USDA Single Family Housing Guaranteed Loan Program (SFHGLP)  for Kentucky home buyers.  The USDA has recently proposed revisions to several chapters of their t echnical Handbook 1-3555, which may impact various aspects of the loan process. These proposed changes are currently open for comment until December 8, 2024, with final publication expected soon. Here’s an overview of the proposed revisions: Key Proposed Updates to Kentucky Rural Housing USDA Guidelines: Seller Concessions : Clarifies that funds provided by the seller to pay the buyer’s real estate commission fees are excluded from the 6% seller concession cap. Refinancing Eligibility : The seasoning period for an existing loan to be eligible for refinancing has been updated to  180 days . Payment History Requirement : To qualify for a refinance, the existing loan must not have any delinquencies greater than 30 days within the previous 180-day period. Manuf...

Kentucky USDA Mortgage Loans get Drastically Lowering Costs for Buyers   USDA has announced that effective their Fiscal Year 2017 which starts   October 1, 2016 , that the USDA funding fee is lowering from 2.75% to only 1% for all Kentucky-backed USDA Rural Housing Mortgage loans!  Plus the annual fee which is figured into the payment kind of like PMI is lowering from .50% to .35%!  Here's an example of the savings: The current funding fee on a $100,000  purchase would be about $2,50  financed on top of the loan but 1% would make it just a little over $1,000.  That is a great savings, then there will be an additional lower payment because of the lower annual fee. For example on the monthly payment savings you are now looking at about an $14 monthly difference in your monthly payment. Not only buyers looking for a no money down purchase at a great fixed rate can take advantage of this but also borrowers with a  c...

USDA GRH Guaranteed Rural Housing Program 100% financing Talk with us about this 100 percent financing program if you are looking to buy or refinance a single family home in a rural area. All of Kentucky may be eligible by county and income limit. Contact us to verify if your property is eligible. Some key features include: - No PMI. That's right, no private mortgage insurance. Like VA, this program has a Guaranteed fee that can be financed into the loan the same way VA loans have a Funding fee. - 6% seller help/contribution is allowed - No minimum contribution from your own funds. FHA has a 3.5% requirement. There are also no cash reserves required, as is the case with your typical conventional loan. - This program only offers a fixed rate option for primary 1 unit residences. Current maximum loan amount is $417,000. There are income limitations to qualify. Contact a  Loan Officer and we will help you find a home where you can take advantage of this great 100...

KHC's First Mortgage Government Loan Products Kentucky Housing KHC Credit Standards and Guidelines October 20, 2010 Louisville Kentucky Mortgage Edit Leave a comment Go to comments 1 Vote KHC Credit Standards as of October 2010 Credit Standards   Insuring  agency credit standards for the loan type the  borrower receives.  Minimum  credit score  required for FHA, VA, and  RHS : 620. Minimum score for conventional: 660.  FHA, VA, and Conventional loans: AUS approval required; follow findings with maximum debt  ratios  of 40/45.  RHS loans: maximum debt ratios of 29/41 for manual underwriting; with GUS approval 40/45 and follow findings.  Collections: for FHA, VA and Conventional loans, AUSapproved findings to be followed. For RHS loans, follow agency guidelines and/or GUS findings.   Bankruptcies  must be discharged for 2-7 years, according to Kentucky Housing KHC...