A Guide to Buying Your First House in Kentucky
Navigating loan programs and requirements for first-time homebuyers in Kentucky.
Explore Loan Options
Kentucky FHA Loan Program

Down Payment
Minimum 3.5% of purchase price

Credit Score
500-580 minimum, depending on lender

Debt-to-Income Ratio
Front-end: 45% max, Back-end: 50-56.99% max

Work History
2 years consistent employment preferred
Kentucky USDA Loan Program

Down Payment
Zero down payment for eligible rural properties

Credit Score
620-640 minimum typically required

Debt-to-Income Ratio
41-45.99% maximum, higher with compensating factors

Work History
2 years consistent employment important
Kentucky VA Loan Program

Down Payment
Zero down payment for eligible veterans and service members

Credit Score
No specific requirement, 620+ preferred by most lenders

Debt-to-Income Ratio
41-50% maximum, varies by lender

Work History
2 years stable employment or reliable income source
Kentucky Fannie Mae Loan Program

Down Payment
3% for first-time buyers, 5% for repeat buyers

Credit Score
Minimum 620 typically required

Debt-to-Income Ratio
45-50% maximum, varies by lender and program

Work History
2 years stable employment with steady income important
Kentucky Housing Down Payment Assistance
KHC Program
$10,000 down payment assistance loan available
Other Lenders
5% grant program offered through some lenders
Credit Score
Minimum 620-660 typically required
Debt-to-Income Ratio
50% maximum typically allowed
Choosing the Right Loan Program

1

2

3

4

1

Assess Your Situation
Evaluate your finances, credit, and home preferences

2

Compare Programs
Review requirements and benefits of each loan type

3

Consult a Professional
Speak with a knowledgeable mortgage officer for guidance

4

Get Pre-Approved
Determine your budget and strengthen your offer
Contact Information
Phone/Text
502-905-3708
Email
kentuckyloan@gmail.com
Joel Lobb - Mortgage Loan Officer
NMLS ID# 57916
Evo Mortgage - Company NMLS# 1738461