5 Kentucky First Time Home Buyer, 1st Time Home Buyer Loan Programs in KY, Grants, Mortgages 1. Louisville KY FHA Loan Program - This program allows for 3.5% down payment and low 30 30 year fixed rate loans currently. The minimum credit score for a Louisville KY FHA loan with us is . You have three scores, and we take the middle credit score. The down payment can be saved or gifted from a family member, or borrowed from a 401k loan . The 3.5% down payment cannot be borrowed from a lending institution or off a credit card. The current debt to income ratios for a Louisville KY FHA loan is 31% and 55 This means that your current house payment, with taxes and insurance included, cannot be more than 31% of your gross monthly income. The 55means the new house payment and total debts on credit report along with child support or 401k loans. For example if you made 4k gross a month, the maximum house payment would be $1240 piti, ...