Mobile Home Loan Guidelines for Kentucky: FHA, VA, USDA, and Conventional Loans

Manufactured home properties are often more affordable than standard single-family homes, making them an attractive option for many prospective buyers. Whether you're a first-time homebuyer or looking to refinance, there are financing options for manufactured homes through FHA, VA, USDA, and Conventional loan programs.

Important Guidelines for Manufactured Home Mortgages in Kentucky

Before diving into specific loan programs, it's essential to understand two critical requirements that apply to almost all manufactured home loans in Kentucky:

Permanent Foundation: The manufactured or mobile home must be on a permanent foundation. This means the home must be permanently affixed to the land with proper structural supports, meeting local building codes. Read more here what constitutes a permanent foundation ➡️https://www.huduser.gov/portal/Publications/PDF/foundation_guide_complete.pdf

Single Relocation: The home must have only been moved once, from the factory or dealership to the permanent site. Homes that have been relocated more than once typically do not qualify for financing.

Keeping these two key factors in mind will significantly improve your chances of securing a mortgage loan for a manufactured home.

Here's a detailed look at the requirements and guidelines for each program:

FHA Manufactured Home Loans

Minimum Credit Score: 500 qualifying FICO score

Eligible Property Types: Singlewide, Doublewide, and Triplewide units

Loan-to-Value (LTV): Purchase or Rate-Term up to 96.5% LTV; Cash Out up to 80% LTV

Manual Underwrites: Allowed

Additional Requirements:

Real Property Conversion required at closing

Home must be your primary residence

Property cannot have been previously installed or occupied at another site

Age of Home: Home must have been constructed after June 15, 1976

USDA Manufactured Home Loans

Minimum Credit Score: 550 qualifying FICO score

Eligible Property Types: Singlewide, Doublewide, and Triplewide units

Loan-to-Value (LTV): Purchase up to 100% LTV

Manual Underwrites: Required; Maximum Debt-to-Income (DTI) ratio is 29/41

Additional Requirements:

Home must be located in a USDA-eligible rural area

Real Property Conversion required at closing

Home must be a 2006 model or newer

Property cannot have been previously installed or occupied at another site

Must be your primary residence 

You cannot do not a mobile home loan on a USDA loan in Kentucky --Only available  in select pilot States and Kentucky is not in that program

VA Manufactured Home Loans

Minimum Credit Score: 500 qualifying FICO score

Eligible Property Types: Singlewide, Doublewide, and Triplewide units

Loan-to-Value (LTV): Purchase or Rate-Term up to 100% LTV; Cash Out up to 80% LTV

Manual Underwrites: Allowed

Additional Requirements:

Real Property Conversion required at closing

Property can be previously installed or occupied at another site

Must be your primary residence

Age of Home: Home must have been constructed after June 15, 1976

Conventional Manufactured Home Loans

Minimum Credit Score: 620 qualifying FICO score

Eligible Property Types: Singlewide, Doublewide, and Triplewide units

Loan-to-Value (LTV): Purchase or Rate-Term up to 95% LTV; Cash Out up to 65% LTV

Additional Requirements:

Real Property Conversion required at closing

Home must have been constructed after June 15, 1976

Property cannot have been previously installed or occupied at another site

Primary and second homes allowed

Why Choose a Manufactured Home Loan?

Manufactured homes offer a cost-effective alternative to traditional housing, with modern designs and layouts that meet the needs of today's homeowners. With these flexible loan options, Kentucky homebuyers have access to financing programs tailored to manufactured housing.

Whether you’re looking for a low credit score option, zero money down, or a loan for a primary or secondary residence, these programs cater to a variety of financial situations.

1 -  Email - kentuckyloan@gmail.com 

2.   Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

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Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

Credit Scores Required For A Kentucky Mortgage Loan Approval

1 -  Email - kentuckyloan@gmail.com 

2.   Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

---

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

Legal Separation vs. Divorce Decree for a Kentucky Mortgage Loan.

Did you know that a Kentucky  legal separation agreement may be substituted for a divorce decree for a Kentucky Mortgage Loan?

In most cases, a legal separation agreement can be substituted for a divorce decree for any circumstance where a divorce decree is required.  The agreement must:

• be a legal separation, 
• include the same information that would be obtained from a divorce decree,
• be recorded, if required by law.  (See Kentucky State Specific Requirements for Divorce and Legal Separation for Kentucky Mortgage Loans in Fairway guidelines)

If a borrower is not legally separated, then they are considered married, and the loan will be underwritten as such.  In cases where the there is no separation agreement, the 1003 should

Property in a Divorce

Click on a topic below:

• What kinds of things are property?
• What happens to our property in a divorce?
• What is the difference between marital and non-marital property?
• Does the court divide marital property 50-50?
• What if I do not agree with what my spouse says is non-marital property?
• What about property from after the separation, but before the divorce is final?
• Will I get half of each asset?
• How do we know the value of our home?
• Will the court allow us to divide our property the way we want to?

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What kinds of things are property?

Property is anything you own. It includes:

• Real property, such as buildings and land, and
• Personal property, such as money in cash or in a financial institution, furniture, jewelry, automobiles, etc.

What happens to our property in a divorce?

It depends. If it is property that you acquired during your marriage, called marital property, the court will try to divide the value of the marital property between you equally.

If it is your non-marital property, you will continue to be the legal owner.

What is the difference between marital and non-marital property?

Marital property is property that:

• Was obtained during your marriage (even if the title is in only one of your names),
• Was given to both of you as a gift, or
• You inherited together.

Non-marital property is property that:

• You already had when you got married, or
• You inherited or received as a gift individually. (If your spouse says the property was given to both of you, you will have to prove that it was given only to you.)

Does the court divide marital property 50-50?

Usually, but not always. The court may give one spouse more marital property than the other if it thinks that it would be fair based on the facts of your case.

To decide, the court will consider many factors, including:

• Each spouse's financial situation, including income, spousal maintenance, and non-marital property,
• Each spouse's contribution to their marital property,
• Which spouse will stay in the marital home, if there are children, and
• If a spouse improperly destroyed marital property after you separated.

What if I do not agree with what my spouse says is non-marital property?

Either spouse can ask for a court hearing to decide what property is marital, and what is non-marital.

What about property from after the separation, but before the divorce is final?

In most cases, property or debts acquired after the established date of separation belongs to the person that got it.

Will I get half of each asset?

Probably not. The court will look at the value of all your assets. Often, one spouse keeps the home, and the other gets other property, like cars, bank accounts, or other assets. Or the house could be sold, and the spouses would split any profit. The court tries to make the total value of all assets that each spouse gets equal, not cut the specific assets in half.

How do we know the value of our home?

It depends on the equity, value, and other things, like market conditions. The court will order an appraisal if you and your spouse cannot agree on the value. This can be complicated. If you own real property or a business, it's best to talk to a lawyer.

Will the court allow us to divide our property the way we want to?

Yes. If your agreement is fair, the court will probably approve it. If your agreement is not 50-50, you should each explain to the court why you agreed to an uneven split.

1 -  Email - kentuckyloan@gmail.com 

2.   Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

---

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: How to get a Kentucky mortgage loan with bad credi...

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: How to get a Kentucky mortgage loan with bad credi...:   To get a Kentucky mortgage loan with bad credit through FHA, VA, USDA, or the Kentucky Housing Corporation (KHC), you'll need to take ...

Kentucky Housing Corporation (KHC) Down Payment Assistance Program of $10,000 2025

Program Highlights

1. Regular DAP

   • Maximum Purchase Price: Up to $510,939 with Secondary Market or Mortgage Revenue Bond (MRB) income limits.
   • Loan Amount: Up to $10,000, provided in $100 increments.
   • Repayment Terms:
     • 10-year term.
     • Fixed interest rate of 3.75%.

2. Eligibility:

   • Available to all recipients of a KHC first-mortgage loan.

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For more information or to apply, contact your KHC-approved lender. They can assist you with the application process and answer any questions about your eligibility.

Kentucky Housing Corporation (KHC) Down Payment Assistance Program (DAP)

The Kentucky Housing Corporation offers a program designed to help homebuyers overcome the financial challenges of down payments, closing costs, and prepaid expenses.

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Program Details for 2025

• Loan Amount:

  • Up to $10,000 in assistance, provided in $100 increments.

• Repayment Terms:

  • 10-year term at a fixed interest rate of 3.75%.

• Purchase Price Limit:

  • Homes priced up to $510,939.

• Eligibility:

  • Assistance is available to all KHC first-mortgage loan recipients.
  • Income limits apply based on the Secondary Market or Mortgage Revenue Bond (MRB) guidelines.

1 -  Email - kentuckyloan@gmail.com 

2.   Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

---

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

Kentucky Homebuyers in 2025: Increased Loan Limits for Conventional and FHA Mortgages

New 2025 Loan Limits in Kentucky for Conventional and FHA Mortgage Loans

The Federal Housing Finance Agency (FHFA) has announced increased loan limits for 2025, providing more opportunities for homebuyers in Kentucky. These higher limits apply to both conventional loans acquired by Kentucky Fannie Mae and Freddie Mac,Fannie Mae and Freddie Mac, as well as Kentucky FHA loans, making homeownership more accessible—especially for first-time homebuyers.

Starting January 1, 2025, the FHFA maximum conforming loan limit for a single-unit property will increase to $806,500, reflecting a 5.21% increase from 2024. This adjustment allows Kentucky homebuyers to borrow more under the conforming loan limit without moving into jumbo loan territory.

Simultaneously, the Federal Housing Administration (FHA) has also raised its loan limits, providing even more options for those seeking low down payment mortgage solutions.

Property Type Conventional Loan Limit (FHFA) FHA Loan Limit

1-Unit $806,500         $524,225

2-Unit $1,032,650 $671,200

3-Unit $1,248,150 $811,275

4-Unit $1,551,250 $1,008,300

These increases give Kentucky buyers greater flexibility to purchase or refinance homes, whether using a conventional loan or an FHA loan.

Key Dates to Remember

The new loan limits go into effect January 1, 2025.

Borrowers applying for loans that close in 2024 may still take advantage of the new limits as long as the loan closes on or after January 1, 2025.

Take Advantage of the New Limits

With these increased loan limits, Kentucky homebuyers can explore more options for financing their dream homes in 2025. Whether you’re interested in a conventional loan backed by Fannie Mae or Freddie Mac or an FHA mortgage with its low down payment and credit score flexibility, now is the time to act.

-

1 -  Email - kentuckyloan@gmail.com 

2.   Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

---

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

What is an FHA Loan and Is It Right for You?

What is an FHA Loan and Is It Right for You?

The Federal Housing Administration insures what are called FHA loans. These mortgage loans provide opportunities for buyers with less-than-perfect credit or limited down payments to purchase homes, but they aren’t without potential pitfalls.

FHA loans are available to borrowers with a credit score of at least 580, and you have to make a minimum 3.5% down payment. They’re a popular option for first-time home buyers.

Lenders such as banks and credit unions issue the mortgages, which are insured by the FHA. That protects the lender if the borrower defaults, which is why the terms are more favorable than a traditional mortgage.

Around eight million single-family homes have loans insured by the FHA.

What Can an FHA Loan be Used For?

You can use an FHA loan to refinance single-family houses, to buy a single-family home, to buy some multifamily homes and condos and certain mobile and manufactured homes. There are particular types of FHA loans that can be used to renovate an existing property or for new construction.

How is an FHA Loan Different from a Conventional Mortgage Loan?

The biggest differentiator between an FHA loan and a conventional mortgage is that it’s easier to qualify for an FHA loan. You may get a loan with a lower credit score than you would otherwise, and your mortgage insurance payments may be lower too.

There are also fewer restrictions as far as using gifts from family or donations for your down payment.

If you have a FICO score of at least 580, you have to make a 3.5% down payment. With a FICO score between 500 and 579, you’re required to make a 10% down payment, and mortgage insurance is required. Your debt-to-income ratio needs to be less than 56.99% whereas with a conventional loan it’s usually 45%. You do need to have proof of income and steady employment, as you would need with a conventional loan.

Are There FHA Loan Limits?

There are limits on the mortgage amount you can get with an FHA-guaranteed loan. The limits vary based on your county, Yes, FHA loans have limits based on your county's median home prices. 

 In 202​5, Max FHA loan in Kentucky for Kentucky FHA Loan Limits by County are: $524,225 1 unit $671,200 2 unit $811,275 3 unit $1,008,300 4 unit– This changes every year 

The limit amounts are updated by the FHA each year based on fluctuations in home prices.

The Benefits of the FHA Loan

The primary benefits of an FHA loan are that buyers who wouldn’t otherwise qualify may be able to own a home and for a lower down payment. Sometimes the FHA will help facilitate coverage of closing costs. If you have problems making payments on an FHA loan you may be eligible for a forbearance period if you qualify.

What Are the Downsides of an FHA Loan?

You will have to pay an upfront mortgage insurance premium with an FHA loan to protect the lender. The fee is due when you close and it’s 1.75% of your loan. You will also have to pay an annual mortgage insurance premium for the life of your loan. The amount can range between 0.45% and 1.05%.

When you buy a home with an FHA loan, it has to meet strict standards in terms of health and safety.

Also, while there are set standards from the FHA, approved lenders can create their own requirements.

Applying for an FHA Loan

You’ll have to first find an FHA-approved lender to get one of these home loans. You’ll need some documents, including proof of U.S. citizenship, legal permanent residency, or eligibility to work in America. You’ll need bank statements for at least the past 30 days, and you’ll probably need to show pay stubs.

Some of the information your lender may be able to obtain on your behalf, such as your credit reports, tax returns and employment records.

There are advantages to an FHA loan because it expands homeownership to more people than conventional loans. It’s just important that if you’re considering this loan you understand the costs and that you’re not taking on more than you’re financially prepared for because of the less stringent approval requirements.

Written by Ashley Sutphin for www.RealtyTimes.com Copyright © 2020 Realty Times All Rights Reserved.

If you’re planning to buy your first home in Kentucky, FHA loans in Kentucky may be the ideal solution. They may help if you have faced challenges qualifying for a conventional mortgage. FHA loans in Kentucky may be the ideal solution. These loans are backed by the Federal Housing Administration (FHA). They offer flexibility and affordability. Lower barriers to entry make homeownership a reality for many borrowers.

Joel Lobb

Mortgage Loan Officer

Individual NMLS ID #57916

 

click here for directions to our office

 

Text/call:      502-905-3708

fax:            502-327-9119
email:          kentuckyloan@gmail.com

 

https://www.mylouisvillekentuckymortgage.com/

 

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