🏡 How to Get a Kentucky FHA Mortgage Loan with a 500 Credit Score
By Joel Lobb | Senior Loan Officer, EVO Mortgage (NMLS #57916)
Are you a first-time homebuyer in Kentucky with a credit score around 500? Don’t worry—you’re not out of options. With an FHA loan, you may still qualify to buy a home—even if you’ve faced credit challenges in the past.
âś… Can You Really Get a Mortgage with a 500 Credit Score in Kentucky?
Yes, you can. FHA loans are government-backed mortgages designed to help borrowers with lower credit scores and limited savings for a down payment. While many lenders prefer scores above 580, some—like us at EVO Mortgage—will work with credit scores as low as 500, depending on your financial picture.
đź’ˇ FHA Loan Requirements for a 500 Credit Score
Requirement Details
Minimum Credit Score 500+ (10% down) / 580+ (3.5% down)
Down Payment 10% for 500–579 credit scores
Income Verification Two years of steady employment or verifiable income
Debt-to-Income Ratio Generally 43% or less, but exceptions allowed with strong compensating factors
Loan Type 30-year fixed FHA mortgage
Property Type Primary residence (must meet FHA appraisal standards)
