FHA Loans in Kentucky

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The Kelly Zitlow Group lends in 43 states across the country. Please reach out to us to see if we can assist in your hometown! We would love the opportunity to bring our 100+ years of combined experience to provide you with an honest, well-communicated, and knowledge-based lending experience.

What Are FHA Loans?

Since 1934, FHA loans have helped millions of homebuyers become homeowners. Insured by the Federal Housing Administration (FHA), these loans typically have lower down payments and more flexible credit requirements than non-government-backed loans.

Highlights of an FHA Loan in Kentucky:

  • As low as 3.5% down payment allowed
  • Down payment can be gifted from a relative, borrowed from an eligible 401K, or provided through an approved state or local program
  • Co-signers are allowed (but must be eligible borrowers)
  • Seller can contribute up to 6% of the purchase price toward closing costs
  • Two types of mortgage insurance (Mortgage Insurance) are required:
    • Upfront Mortgage Insurance – can be financed into the loan or paid in cash
    • Annual Mortgage Insurance – paid monthly as part of the mortgage payment
  • Available only for financing a primary residence
  • Minimum 580 credit score required with AUS approval

*Not all borrowers with 580 credit scores will qualify.

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