Kentucky USDA Guaranteed Rural Housing Loans Qualifying Criteria
This program offers Kentucky home buyers that meet income and credit requirements to buy a home with zero down payment and get a 30-year fixed-rate loan.
What are the Kentucky USDA Loan Eligibility Requirements
- The property being purchased must be in a rural area of Kentucky as defined by the USDA.
- The property must be owner-occupied. Investment or vacation properties are not eligible for USDA loans.
- You must meet the income restrictions for the county the property is located in. Each county has a maximum income limit defined by the USDA. This maximum income limit depends on the cost of living, median income and other economic characteristics of the county the property is located in.
- Credit score requirements set by USDA are as follows below:
USDA loans offer a number of unique benefits that set them apart from standard home loans. USDA loans require no down payment, so qualified individuals can finance up to 100% of the home’s total purchase price. This makes them one of the more desirable loans available to homeowners.
Kentucky USDA Loan Property Eligibility
Mortgage Loan Officer