The Your Kentucky Home initiative offers income-eligible homebuyers across the Commonwealth down payment assistance in the form of a grant, up to 5 percent of the loan amount of their first mortgage.

FHA Mortgage Loan Rates

August 18, 2018
FHA Rates for August 18, 2018
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Your Kentucky Home Program

Financial Assistance for Homebuyers in Kentucky

The Kentucky Association of Counties, Inc. (KACo) recognizes that many individuals are stuck in a renter’s trap; they can afford monthly mortgage payments, but don’t have the money saved up for a down payment on a house. That’s why they developed the Your Kentucky Home initiative.

Program Guidelines
The program offers income-eligible homebuyers across the Commonwealth down payment assistance in the form of a grant, up to 5 percent of the loan amount of their first mortgage. The homebuyer is not required to repay these funds at any point. This grant comes in conjunction with a 30-year fixed rate first mortgage, with a 0.25 to 0.50 percent higher interest than the current market rate. The assistance can then be put toward reducing the principal amount of the mortgage, paying down payments or closing costs, or a combination of the two.

Eligibility Requirements
Your Kentucky Home offers applicants up to 5 percent down payment assistance for any government or conventional home loan. There are, however, a few requirements that applicants must meet. All homebuyers must have a credit score of at least 640, and fall under the maximum income limit that is set at 115 percent of average median income (AMI), which varies by county. The program bases its income limits on the individual borrower rather than household income. “Your Kentucky Home” does not have a first-time home buyer requirement, nor restrictions on reselling or refinancing the property, and no minimum length of occupancy. The loan application must meet the local lenders credit standards and must meet any federal requirements if it is an FHA, VA or Rural Development loan.

Program Availability
This program is available to Kentucky homebuyers in all 120 counties. They can access Your Kentucky Home through any mortgage lender that has joined and qualified to be a member of the program.  There are currently 20 eligible lenders in the program, with KACo actively seeking new lenders. 

Down Payment Grants in Kentucky

Covington, Kentucky offers individuals a Homebuyer Assistance Program that provide income-eligible households with zero-interest, deferred or forgivable loans to assist with buying an owner occupied home. 

The Kentucky Housing Corporation (KHC) recognizes that though many potential homebuyers can afford the monthly mortgage payments on a new house, they don’t have enough money saved up for the down payment. That’s what the new HHF Down Payment Assistance Program aims to help with.

The Homebuyer Assistance Program provides low- to moderate-income homebuyers with a loan help cover the down payment and closing costs. It's available to any homebuyer that is looking to purchase an existing or newly constructed home in the Louisville Metro area.

The Your Kentucky Home initiative offers income-eligible homebuyers across the Commonwealth down payment assistance in the form of a grant, up to 5 percent of the loan amount of their first mortgage.

FREE CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!