I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 900 Kentucky families buy their first home and refinance their current mortgage for a lower rate; Kentucky First time buyers $0 down still available with 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 firstname.lastname@example.org
NMLS 57916 NMLS ID 1364
KentuckyFHA loanshave always been a great alternative for people who don’t quite qualify for Conventional financing. The guidelines are more forgiving allowing for smallerdown payments, higher debt to income ratios, some credit issues, and more sources for thedownpayment. The great thing is that theinterest rateis only slightly higher than aconventional loan. Sometimes the interest rate is actually lower. Remember this! IF you go to a KentuckyMortgage Brokeror a Bank and the rate quoted is exceptionally higher, they are charging you too much. Call around for quotes. You will usually get a better rate from a Kentucky Mortgagebroker.Posted by Louisville Kentucky Mortgage
Kentucky FHA loans are not as strict on credit scoring. We can go down to a 640 credit score with compensating factors and if it makes sense.
High debt to income ratios: 31% / 55%
100% of down payment can be a gift from: relative, close friend, or employer. Currently Kentucky Housing will give you up to $6000.00 for downpayment assistance with Kentucky FHA mortgage loans
Seller, builder, or realtor can pay up to 6% of the sales price towards the buyers closing costs,discount points, prepaids, and up front mortgage insurance premium.
Buyer can finance closing costs into the loan, except for prepaids and discount points.
Credit criteria is not as strict as a Conventional loan. In fact, you might qualify if you have filed a chapter 13 bankruptcy and have been in it for at least one year.