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What is the minimum credit score I need to qualify for a Kentucky FHA, VA, USDA and KHC Conventional mortgage loan?


What is the minimum credit score I need to qualify for a Kentucky FHA, VA, USDA and KHC Conventional mortgage loan?

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What credit score do you need for a mortgage?


What credit score do you need for a mortgage in Kentucky for FHA, VA, USDA and Fannie Mae Home Loans?

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Equifax, Experian and TransUnion will also no longer include medical collection debt under at least $500 on credit reports


The three nationwide credit reporting agencies, Equifax, Experian and TransUnion, announced that effective July 1, 2022, they will no longer include medical debt that was paid after it was sent to collections on consumer credit reports. The companies’ CEOs provided a joint statement on the decision to change their approach to medical collection debt reporting: … Continue reading Equifax, Experian and TransUnion will also no longer include medical collection debt under at least $500 on credit reports

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What kind of credit score do I need to qualify for a Kentucky Mortgage Loan?


Kentucky Mortgage Loan Credit Score Requirement.

Loan Type Min. Credit Score Description
Conventional 620
  • Most common
  • Available from most lenders
  • Requires private mortgage insurance (PMI) with less than 20% down
FHA 500-10% down

580-3.5% down
  • Can have lower credit scores, lower incomes, and/or higher debt
  • Federal government guarantee and borrower-paid mortgage insurance allow lenders to approve these higher-risk loans
VA None
  • Available to qualifying military service members, veterans, and some spouses
  • Federal government guarantee and borrower-paid funding fee protects lenders and helps those who serve our country
USDA None
  • Helps low- to moderate-income borrowers buy homes in rural areas
  • Government guarantee encourages lenders to offer these loans

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 What kind of credit score do I need to qualify for a Kentucky Mortgage Loan in 2019?

Credit scores play an important part in getting approved for a Kentucky Mortgage loan. Your credit scores consist of 3 digits and range anywhere from the low-end of 300 to a high score of 800 range on the top-end. Most borrowers are going to fall in the 500, 600, 700 range, with a few in the 300 and 800 ranges.
 The higher the score the better it is for chances of getting approved for a Kentucky Mortgage loan and getting better terms as far as rates, closing costs and mortgage insurance.
There are three main credit bureaus in the United States that lenders will pull from Experian, Equifax, Transunion. Most loan programs will take your middle score. So For example, if you have 629 on transunion, 690 on equifax, and 577 on…

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How to Qualify For A Kentucky Mortgage Loan


Conventional loans follow guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. FHA loans are insured by the Federal Housing Administration. VA loans are guaranteed by the U.S. Department of Veterans Affairs. USDA loans are backed by the U.S. Department of Agriculture to finance homes in USDA-eligible rural area