Kentucky FHA Loan
Kentucky FHA loans are popular with Kentucky homebuyer’s because of their many benefits.

Here are some of the benefits of Kentucky FHA loans.

Very low Down Payments: Having a low down payment option is one of the main reasons FHA loans appeal to first-time homebuyers. In some cases, borrowers can qualify for a down payment as low as 3.5% with a 580 credit score or higher and if credit score is below 580, 10% down payment would be needed. You can also use Down Payment Assistance Programs to cover your down payment and closing costs

Down Payment Assistance Programs: Down payment assistance programs are available throughout Kentucky. Some of the Down payment Assistance Programs listed below and their links:
Kentucky offers several down payment assistance programs to help first-time homebuyers. These programs can provide funds to cover the down payment and closing costs. Some popular programs include:

Kentucky Housing Corporation (KHC) Programs: khce options, including repayable and forgivable loans. $10,000 available at 3.75% rate currently over 10 year pay back period. Changes periodically. Check your lenders requirements with income limits, loan limits, debt to income ratio requirements
Local Government Programs: Many local governments offer grants and loans for down payment assistance.