Kentucky FHA Loan Requirements for 2018

Kentucky HUD $100 Down FHA Program for 2018

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Kentucky FHA Loan Requirements

The requirements for Kentucky FHA loans are set by HUD.

  • Borrowers must have a steady employment history of the last two years within the same industry or line of work. Recent college graduates can use their transcripts to supplant the 2 year work history rule as long as it makes sense.
  • Self-Employed will need a 2 year history of tax returns filed with IRS. They will take a 2 year average.
  • FHA requires a 3.5% down payment. Can be gifted from family member or from retirement savings plan, or money saved-up. Any type of cash deposits are not allowed for down payments. No exceptions to this rule!! This is one of the biggest issues I see in FHA underwriting nowadays.
  •  FHA loans are  for primary residence occupancy. Not rental houses.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 43 percent. If the Automated Underwriting System gives you an Approved Eligible you can go higher on the debt ratios
  • Borrowers must have a minimum credit score of 580 for maximum financing with a 3.5% down payment
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent. Most lenders will not go below 620 score, and very few lenders will go to 580 score. It’s best to work on getting your scores up before you apply or work with a loan officer to improve them.
  • 2 years removed from Chapter 7 is required with good pay history after bankruptcy
  • 1 year removed from Chapter 13 is okay with an excellent pay history with the Chapter 13 plan and permission from trustee. You will need to qualify with the Chapter 13 payment along with new house payment. Again, scores will play into your loan pre-approval.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit. If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three-year foreclosure guideline.
  • Max FHA loan in Kentucky is between $275,000 to $299,000 depending on the county in Kentucky
    I can answer your questions and usually get you pre-approved the same day.

hud-100-incentive-program-fha-home-loan-group-1

  • Call or Text me at 502-905-3708 with your mortgage questions.
    Email Kentuckyloan@gmail.com





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    Joel Lobb
    Senior  Loan Officer
    (NMLS#57916)
    text or call my phone: (502) 905-3708
    email me at kentuckyloan@gmail.com
    The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
    All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
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Kentucky FHA Loan Limits for 2018

Kentucky FHA Loan Limits for 2018
FHA has announced new loan limits for 2018. For all FHA loans with Case Numbers assigned on or after January 1st, the following will be effective
 these values are updated to coincide with the new FNMA loan limit floor values.

FHA Limits for 2018

Lending Limits for FHA Loans in KENTUCKY Counties

FHA mortgage lending limits in KENTUCKY vary based on a variety of housing types and the cost of local housing. FHA loans are designed for borrowers who are unable to make large down payments.

120 match(es) found.
ADAIR County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ALLEN County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ANDERSON County
FRANKFORT, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BALLARD County
PADUCAH, KY-IL
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BARREN County
GLASGOW, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BATH County
MOUNT STERLING, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BELL County
MIDDLESBOROUGH, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BOONE County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BOURBON County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BOYD County
HUNTINGTON-ASHLAND, WV-KY-OH
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BOYLE County
DANVILLE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BRACKEN County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BREATHITT County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BRECKINRIDGE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
BULLITT County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
BUTLER County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CALDWELL County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CALLOWAY County
MURRAY, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CAMPBELL County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CARLISLE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CARROLL County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CARTER County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CASEY County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CHRISTIAN County
CLARKSVILLE, TN-KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CLARK County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CLAY County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CLINTON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CRITTENDEN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
CUMBERLAND County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
DAVIESS County
OWENSBORO, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
EDMONSON County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ELLIOTT County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ESTILL County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
FAYETTE County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
FLEMING County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
FLOYD County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
FRANKLIN County
FRANKFORT, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
FULTON County
UNION CITY, TN-KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GALLATIN County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GARRARD County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GRANT County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GRAVES County
MAYFIELD, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GRAYSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GREEN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
GREENUP County
HUNTINGTON-ASHLAND, WV-KY-OH
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HANCOCK County
OWENSBORO, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HARDIN County
ELIZABETHTOWN-FORT KNOX, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HARLAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HARRISON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HART County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HENDERSON County
EVANSVILLE, IN-KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HENRY County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
HICKMAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
HOPKINS County
MADISONVILLE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
JACKSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
JEFFERSON County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
JESSAMINE County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
JOHNSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
KENTON County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
KNOTT County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
KNOX County
LONDON, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LARUE County
ELIZABETHTOWN-FORT KNOX, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LAUREL County
LONDON, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LAWRENCE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LEE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LESLIE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LETCHER County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LEWIS County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LINCOLN County
DANVILLE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LIVINGSTON County
PADUCAH, KY-IL
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LOGAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
LYON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MADISON County
RICHMOND-BEREA, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MAGOFFIN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MARION County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MARSHALL County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MARTIN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MASON County
MAYSVILLE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MCCRACKEN County
PADUCAH, KY-IL
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MCCREARY County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MCLEAN County
OWENSBORO, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MEADE County
ELIZABETHTOWN-FORT KNOX, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MENIFEE County
MOUNT STERLING, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MERCER County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
METCALFE County
GLASGOW, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MONROE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MONTGOMERY County
MOUNT STERLING, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MORGAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
MUHLENBERG County
CENTRAL CITY, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
NELSON County
BARDSTOWN, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
NICHOLAS County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
OHIO County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
OLDHAM County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
OWEN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
OWSLEY County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
PENDLETON County
CINCINNATI, OH-KY-IN
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
PERRY County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
PIKE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
POWELL County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
PULASKI County
SOMERSET, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ROBERTSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ROCKCASTLE County
RICHMOND-BEREA, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
ROWAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
RUSSELL County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
SCOTT County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
SHELBY County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
SIMPSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
SPENCER County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
TAYLOR County
CAMPBELLSVILLE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
TODD County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
TRIGG County
CLARKSVILLE, TN-KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
TRIMBLE County
LOUISVILLE/JEFFERSON COUNTY, KY-IN
Single Duplex Tri-plex Four-plex
$304,750 $390,100 $471,550 $586,050
UNION County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WARREN County
BOWLING GREEN, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WASHINGTON County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WAYNE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WEBSTER County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WHITLEY County
LONDON, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WOLFE County
NON-METRO
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
WOODFORD County
LEXINGTON-FAYETTE, KY
Single Duplex Tri-plex Four-plex
$294,515 $377,075 $455,800 $566,425
http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916 http://www.nmlsconsumeraccess.org/
 
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

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Kentucky FHA Lending Limits

2017 Kentucky FHA limits include the following cities of  Fort Thomas, Erlanger, Florence, Ashland, Frankfort, Lexington, Richmond, Somerset Elizabethtown, Louisville, Owensboro, Hopkinsville, Fort Campbell North, Mayfield, Paducah, Madisonville, Henderson, Radcliff, Fort Knox, Georgetown, London, Bowling Green, E-town, Shepherdsville, Mount Washington, Lagrange, Shelbyville, Independence,  Hodgenville, Brandenburg, Morehead, Danville, Versailles, Lawrenceburg, Simpsonville, Winchester, Williamstown, Pikeville, Munfordville, Prospect, Crestwood, St. Matthews, Highlands,