​Kentucky FHA vs ​Kentucky Conventional Mortgage Insurance: A Comprehensive Comparison
Kentucky Mortgage Insurance requirements for Kentucky homebuyers for FHA and Fannie Mae Conventional loans.
When it comes to ​Kentucky home loans, understanding the differences between ​Kentucky FHA and conventional mortgage insurance is crucial for potential homebuyers. This article will break down the key distinctions in terms of credit score requirements, down payments, upfront premiums, monthly premiums, duration, and cancellation policies.

​Kentucky Mortgage Credit Score Requirements
​Kentucky FHA Mortgage Insurance
Minimum credit score: 580 for a 3.5% down payment
Scores between 500-579 may qualify with a 10% down payment
​Kentucky Conventional Mortgage Insurance
Typically requires a minimum credit score of 620
Higher scores often result in better rates and terms
​Kentucky Mortgage Down Payment​ Requirements
FHA Mortgage Insurance
Minimum down payment of 3.5% with a credit score of 580 or higher
10% down payment required for credit scores between 500-579
Conventional Mortgage Insurance
Typically requires a minimum of 3% down payment
Lower down payments often result in higher insurance premiums
Upfront Premiums​ for Kentucky Mortgage Loans
FHA Mortgage Insurance
Upfront Mortgage Insurance Premium (UFMIP) of 1.75% of the loan amount
Can be financed into the loan
Conventional Mortgage Insurance
No upfront premium required
Monthly Premiums​ for Kentucky Mortgage Loans
FHA Mortgage 👇