Is an FHA Loan Right for You?
Kentucky FHA loans are home loans insured by the FHA (Federal Housing Administration) which give Kentucky borrowers the opportunity to secure KY home loans, when they don’t quality for other conventional loans. For example, future Kentucky homeowners with little credit history or poor credit history are sometimes able to qualify for Kentucky FHA loans.
First Time Buyers
KY FHA loans are ideal for first-time Kentucky homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing your Existing Home
FHA also offers a refinancing option for Kentucky homeowners where it’s possible to refinance up to 97.5 percent of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85 percent.
What are the requirements of an FHA loan?
- No income limit
- Kentucky borrower credit score flexibility
- 3.5 percent down payment on Kentucky Purchase Loans
- Bankruptcy: KY FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: Kentucky FHA loans can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
Kentucky (KY) FHA Loan Limits
FHA loan limits in Kentucky vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in Kentucky), etc. Please contact Home Point Financial’s Kentucky FHA loan experts for details on loan limits for FHA loans in Kentucky (KY). Learn more about the Kentucky FHA Loan program Contact Home Point Financial to learn more about FHA Loans in Louisville, Lexington, Bowling Green and throughout Kentucky.
