Monday, July 14, 2014

Kentucky FHA Mortgage Guidelines for 2014

Kentucky FHA Mortgage Credit and Income Qualifications
  • 580 credit score for purchase and rate & term refinance
  • 620 credit score for cash-out and streamline refinance
  • DTI under 50%, dependent on FICO score & AUS approval
3.5% Down Payment Required for a Kentucky FHA Loan programs

Down payment and/or closing costs may be subsidized by HUD eligible local city or county down payment assistance programs. 

Kentucky Housing Corporation is mainly used for down payment assistance for first time buyers in KY using the program. You must have a 640 minimum credit score with a max debt ratio of 45%. No homeownership in the last 3 years.

Kentucky  FHA Good Neighbor Next Door
  • Discounts of up to 50% with as little as $100 down payment for HUD owned properties.  Available exclusively for Kentucky Law Enforcement Officers, Firefighters, EMTs and Pre-Kindergarten to Grade 12 Teachers.
  • Kentucky HUD REO
    • FHA $100 Down payment in select areas of Kentucky with HUD Approval. 



    Joel Lobb
    Senior  Loan Officer

     phone: (502) 905-3708
     Fax:     (502) 327-9119

     Company ID #1364 | MB73346

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