Sunday, July 31, 2016

Four Different Kentucky First Time Home Buyer Loans For 2016

Four Different Kentucky First Time Home Buyer Loans to consider on your next home purchase: 




KY FIRST TIME HOME LOAN PROGRAMCREDIT SCOREHOUSEHOLD INCOME LIMITSKENTUCKY PROPERTY ELIGIBILITY
/  MAX LOAN LIMITS
Kentucky USDA Rural Housing Loans

$0 DOWN 
640+ for all borrowers. 2 trade lines for 12 months ratedFamily Size: 1-4 $75,650 5-8 $99,850http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do ///

No maximum loan size for Kentucky USDA Mortgage Loans
Kentucky FHA Loans

3.5% DOWN
620+ for all borrowers. No trade line requirementsNoneAll areas eligible///

Most FHA loan limits in Kentucky Counties are set at $271,000,
Louisville metro area can go up to $287,000
Kentucky VA Loans

$0 DOWN
620+ for all borrowers. No trade line requirementsNoneAll areas eligible.///

Max VA Loan amount in Kentucky  is $417,000
KHC with Down Payment Assistance

$0 DOWN
640+ No trade line requirements$26,000-$127,000 depending on home size and which DAP you use: $4500 to $6000 DAP FundsAll areas eligible///

Secondary Market New and Existing Homes................$283,900                                                                                            MRB New and Existing Homes......................................$255,500











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