Kentucky Homebuyers: Minimum Down Payment Guide by Loan Type and Credit Score
Conventional Loans
Credit Score 680+
📉 Minimum Down Payment: 3%
Credit Score 620-679
📉 Minimum Down Payment: 5%
Conventional Loans (No PMI)
Credit Score 620+
📉 Minimum Down Payment: 20%
FHA-Insured Loans
Credit Score 580+
📉 Minimum Down Payment: 3.5%
Credit Score 500-579
📉 Minimum Down Payment: 10%
VA Loans
🎖️ Veterans & Active Military
No Minimum Down Payment Required! (0% down payment)
USDA Loans
🌾 Rural Housing Loans
No Minimum Down Payment Required! (0% down payment)
📌 Key Takeaways:
Higher credit scores = lower down payments.
VA and USDA loans offer zero down payment opportunities.
FHA loans are flexible for lower credit scores.
Ready to explore your options?
Contact:
📞 Joel Lobb, Mortgage Broker
📍 Louisville, KY
📧 kentuckyloan@gmail.com
NMLS# 57916
