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Conventional Loan with Kentucky Housing Down Payment Assistance​

  • 30 year fixed rate with no prepaypaymet penalty .​
  • Loan requires 3% down payment but you can use the $10,000 down payment assistance for your 3% contributions
  • ​660 Minimum Credit Score Required
  • No bankruptcies in the last 4 to 7 years 
  • Must receive an Approved Eligible Recommendation through Desktop Underwriting System (AUS)
  • No mortgage insurance 
  • Free Homebuyer Education Course required. https://www.readynest.com/homebuyer-resources/the-test
  • ​Home inspection not required but recommended
  • Seller can contribute 3% toward buyer’s closing costs and prepaids
  • Kentucky Housing Mortgage rates can change daily, but typically follow other mortgage rate trends. Everyone gets the same rates with KHC loans.
  • Appraisal to meet Conventional Appraisal Guidelines​
  • You have 45 days to close the loan once you lock the loan. If you go past this date, you will have to pay lock extension fees to KHC. 
  • $10,000 down payment assistance for down payment and closing costs and prepaids. Cannot be used for home repairs. 
  • $10,000 Down payment Assistance Second Mortgage over 10 years at 3.75% interest,  
  • Max housing ratios of 50% and 50% respectively. Meaning, your gross monthly income divided by your total house payment cannot be more than 50% of your total gross monthly income. And the bills listed on the credit report (monthly payments) combined with new house payment cannot be more than 50% of your total gross monthly income. 
  • Household Income limits by county. Most limits are around $168,000 for the largest counties in Kentucky like  Jefferson, Fayette, 


1 –  Email – kentuckyloan@gmail.com 2.   Call/Text – 502-905-3708

Joel Lobb
Mortgage Loan Officer – Expert on Kentucky Mortgage Loans


🌐 Website: www.mylouisvillekentuckymortgage.com
🏢 Address: 911 Barret Ave., Louisville, KY 40204

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

3 thoughts on “ No Money Down with a Conventional Loan from Kentucky Housing Down Payment Assistance​​”

  2. Thank for infomation

    Natal de jesus Em 07/07/2019 22:22, “Kentucky First Time Home Buyer Loan Programs for FHA, VA, KHC, USDA, Mortgage Loans in Kentucky for 2019” escreveu:

    > Louisville Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, > and KHC Zero Down Payment Home Loans posted: “​Conventional Loan with > Kentucky Housing Down Payment Assistance​​ 30 year fixed rate with no > prepaypaymet penalty .​ Loan requires 3% down payment but you can use the > $6000 down payment assistance for your 3% contributions ​660 Minimum Credit > Score ” >

    Like

  3. Fine

    Natal de jesus Em 07/07/2019 22:22, “Kentucky First Time Home Buyer Loan Programs for FHA, VA, KHC, USDA, Mortgage Loans in Kentucky for 2019” escreveu: > > Louisville Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Zero Down Payment Home Loans posted: “​Conventional Loan with Kentucky Housing Down Payment Assistance​​ 30 year fixed rate with no prepaypaymet penalty .​ Loan requires 3% down payment but you can use the $6000 down payment assistance for your 3% contributions ​660 Minimum Credit Score ” >

    Like

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