Buying a Kentucky Home No Money Down with a Conventional Loan from Kentucky Housing Down Payment Assistance
Conventional Loan with Kentucky Housing Down Payment Assistance
Get Help With Down Payment | KHC Can Help
- 30 year fixed rate with no prepaypaymet penalty .
- Loan requires 3% down payment but you can use the $6000 down payment assistance for your 3% contributions
- 660 Minimum Credit Score Required
- No bankruptcies in the last 4 to 7 years
- Must receive an Approved Eligible Recommendation through Desktop Underwriting System (AUS)
- No mortgage insurance
- Free Homebuyer Education Course required.
- Home inspection not required but recommend
- Seller can contribute 3% toward buyer’s closing costs and prepaids
- Current cost of Conventional appraisal is $425.
- Mortgage rates can change daily, but typically follow other mortgage rate trends.
- Appraisal to meet Conventional Appraisal Guidelines
- You have 45 days to close the loan once you lock the loan. If you go past this date, you will have to pay lock extension fees to KHC.
- $6000 down payment…
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