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Kentucky FHA Guidelines for Credit scores, First-Time Buyers, Refinances, Bankruptcy and Foreclosure 11 Questions and Answers below about the FHA loan program:  1. Q -  Can only first-time home buyers use a Kentucky FHA loan program? A -  No. You can use a Kentucky FHA loan as many times as you desire. The only guideline is that you cannot have more than one outstanding Kentucky FHA loan with a loan to value of higher than 75%. You can own rental property and purchase your primary residence using Kentucky  FHA financing.  2. Q - Does FHA use a FICO credit score for qualifying? A - Yes, FHA requires a credit score. Depending on investor and program, some FHA investors will go as low at 550 on a score, but most FHA lenders that I work with want a 620 score. You have three fico scores and they take the middle score. 3. Q - Can I streamline refinance my FHA loan at any time? A -  Yes, you can streamline assuming that the you are lowering you...

 Kentucky HUD Homes for Sale with the FHA $100 Down Program  The appraiser identifies the repairs that are required to satisfy Kentucky  FHA�s minimum property requirements  (MPR) under FHA�s �Insurable with Repair Escrow� approach. To be eligible the repairs cannot exceed  $5,000.  Uninsurable properties are properties that require >$5,000 in repairs to satisfy FHA�s MPR. Properties  requiring > $5,000 in repairs are only available using FHA 203K financing which we do not  offer.  KENTUCKY HUD HOMES SALES INCENTIVES For a limited time, FHA offers sales incentives on HUD homes that will make these homes more affordable for home buyers when purchasing a property using FHA-insured financing. The incentives VARY from State to State but may include: low down payments; sales allowances that can be used to pay closing costs, make repairs, or pay down the mortgage amount; broker bonuses for owner-occupant sales. The benefits of FHA financing a...