Kentucky FHA Loan Requirements


Does FHA require collections to be paid off for a borrower to be eligible for FHA financing?


A Collection Account refers to a Borrower’s loan or debt that has been submitted to a collection agency by a creditor. If the credit reports used in the analysis show cumulative outstanding collection account balances of $2,000 or greater, the lender must: •     verify that the debt is paid in full at the time of … Continue reading Does FHA require collections to be paid off for a borrower to be eligible for FHA financing?

FHA Approved Condo List Louisville Kentucky Jefferson County


FHA Approved Condos Louisville Kentucky

How to qualify for a Kentucky FHA loan


To be eligible for a Kentucky FHA loan, Kentucky mortgage borrowers must meet the following lending guidelines: Have a FICO score of 500 to 579 with 10 percent down, or a FICO score of 580 or higher with 3.5 percent down. Have verifiable employment history for the last two years. Have verifiable income through pay … Continue reading How to qualify for a Kentucky FHA loan

Kentucky First Time Home Buyer Mortgage Guide


There are several alternative mortgage optionsavailable if you don’t have a down payment,haven’t established a strong credit history,or are unable to supply documentation for a“traditional” mortgage. Some options include: DOWN PAYMENT ASSISTANCE (DPA) by KHC These programs often come from states andmunicipalities allowing you to purchase ahome with a smaller down payment. ManyDPA programs come … Continue reading Kentucky First Time Home Buyer Mortgage Guide