100% Financing Zero Down Payment Kentucky Mortgage Home Loans for Kentucky First time Home Buyers

ATTENTION: KHC has announced changes to the Down Payment Assistance Programs! This is great news for buyers in Kentucky! 1. KHC is increasing the down payment assistance program amount from $6,000 to $7,500. This is for both Regular Down Payment and for Affordable Down Payment assistance programs 2. The interest rate on the repayment of the down payment assistance will go from 5.5% to 3.75%. (Affordable Down Payment assistance will remain at 1%) Realtors: We are here to help you and your clients take advantage of these great opportunities. Buyers: We are here to answer questions you have regarding this program and qualification requirements. KHC is used for mostly applicants in Kentucky that don't have access to money for a down payment on their home.

Here are action steps you can take right now to buy a home in Kentucky in 2022 1. Focus on your credit score FICO credit scores are among the most frequently used credit scores, and range from 350-800 (the higher, the better). A consumer with a credit score of 750 or higher is considered to have excellent credit, while a consumer with a credit score below 620 is considered to have poor credit. To qualify for a mortgage and get a low mortgage rate, your credit score matters. Each credit bureau collects information on your credit history and develops a credit score that lenders use to assess your riskiness as a borrower. If you find an error, you should report it to the credit bureau immediately so that it can be corrected. 2. Manage your debt-to-income ratio Many lenders evaluate your debt-to-income ratio when making credit decisions, which could impact the interest rate you receive. A debt-to-income ratio is your monthly debt payments as a percentage o...