Kentucky FHA Loan Requirements for 2021


Kentucky FHA Loan Requirements for 2021 to include Credit Fico Scores, Down Payment, Income and Job history

FHA

An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.

  • Minimum Credit Score is 500 with at least 10% down
  • Minimum Credit Score is 580 if you put less than 10% down
  • The maximum loan amount varies by Geographical Area, for 2021 it is as follows:
  • The FHA Kentucky Maximum loan for 2021 is $356,362 is set at 65 percent of the national conforming loan limit. Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760.
  • • One-unit: $356,362
    • Two-unit: $456,275
    • Three-unit: $551,500
    • Four-unit: $685,400

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One thought on “Kentucky FHA Loan Requirements for 2021

  1. Reblogged this on Kentucky FHA Mortgage Loans Guidelines and commented:

    Kentucky FHA Loan Requirements for 2021 to include Credit Fico Scores, Down Payment, Income and Job history

    FHA

    An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.

    Minimum Credit Score is 500 with at least 10% down
    Minimum Credit Score is 580 if you put less than 10% down
    The maximum loan amount varies by Geographical Area, for 2021 it is as follows:
    The FHA Kentucky Maximum loan for 2021 is $356,362 is set at 65 percent of the national conforming loan limit. Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760.
    • One-unit: $356,362
    • Two-unit: $456,275
    • Three-unit: $551,500
    • Four-unit: $685,400

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