1.A Low Down Payment – Kentucky FHA Mortgage Loans only require a 3.5% down payment. And what makes that even more attractive is that it can be a gift from a relative. Do you have a parent or sibling who would “Gift” you some money for a down payment? If so, it could be time to apply for an FHA Mortgage Loan. 2.Flexible Credit Qualifying – HUD did NOT set a credit score requirement for qualifying for an Kentucky FHA Mortgage Loan. However many lenders in the market today have drafted “Overlays” that set minimum credit score requirements. Most lenders like to see a minimum 620 credit score, but don’t get discouraged if you are not there yet. If you are close to 620, it is often just as simple as reviewing your credit to determine how to quickly raise it. If you are not close to 620, ask your Kentucky FHA Mortgagee Loan Originator if they have a program for you. Chances are, there is! Bankruptcies and prior foreclosures do not automatically disqualify you either. 3.The Seller Can Pay Your Closing Costs – That’s right. You need to have a quality Realtor who will help you negotiate not only the best price for the home, but also that the seller will pay your closing costs. HUD allows Kentucky FHA Mortgage Loans to have the seller pay up to 6% of the purchase price. Sounds good so far, a down payment gift and seller paying closing costs! 4.Flexible Income Qualifying – The standard for income qualifying ratios is 31/43 which means that up to 31% of your monthly income can be us