Kentucky Housing Corporation (KHC)

Kentucky First-Time Home Buyer Programs

Rest assured, most Kentucky first-time homebuyers are confused and lack confidence when it comes to buying their first home in Kentucky.

There are basically 4 mortgage programs for first time home buyers in Kentucky to consider:

1. FHA:
Kentucky FHA loans are a popular choice in Jefferson County Kentucky first time home buyers because they allow the least down payment of 3.5%, vs Fannie Mae which now requires a 5% investment on primary residences.

The current credit score requirements center around the 580 score for most FHA loans in Kentucky, with no bankruptcies in the last 2 years and no foreclosures in the last 3 years.

Even though FHA insure a mortgage loan down to a 580 credit score or lower sometimes, it is very difficult to find a lender that will approve the loan with scores below 620. Keep that in mind.

The house…