Purchase Loan Programs
Purchase
There are several types of purchase loan programs available for
homebuyers, each with its own features, benefits, and eligibility
requirements. Here are some of the most common purchase loan
programs:
Conventional (Fannie Mae & Freddie Mac) Loans
As Low as 3% Down Payment
Down Payment Assistance Available (Restrictions Apply)
620 Minimum Credit Score
Loan Terms from 10 to 30 Years
Down Payment Can be Gifted
Monthly Mortgage Insurance
Not Required with 20% or More Down Payment
Automatically Cancels at 78% LTV (Loan-to-Value)
$766,550 Maximum Loan Amount
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FHA (Federal Housing Administration) Loans
3.50% Down Payment
Down Payment Assistance Available (Restrictions Apply)
580 Minimum Credit Score
Loan Terms from 10 to 30 Years
Down Payment Can be Gifted
1.75% Upfront Mortgage Insurance Premium
Financed into Loan Amount
0.55% Monthly Mortgage Insurance
Remains for Life of Loan (if Down Payment is < 10%)
$498,257 Maximum Loan Amount (Jefferson County)
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FHA 203k (Home Renovation) Loans
3.50% Down Payment
Streamline 203k Loan
Use for Cosmetic and Common Repairs up to $35,000
Standard 203k Loan
Use for Extensive Repairs Over $5,000
620 Minimum Credit Score
Down Payment Can be Gifted
1.75% Upfront Mortgage Insurance Premium
Financed into Loan Amount
0.55% Monthly Mortgage Insurance
Remains for Life of Loan (if Down Payment is < 10%)
$498,257 Maximum Loan Amount (Jefferson County)
Apply Now
Learn More
VA (Veterans Affairs) Loans
Zero Down Payment – 100% Financing
580 Minimum Credit Score
Loan Terms from 10 to 30 Years
2.30% Upfront Mortgage Insurance Premium (First-Time Use)
Financed into Loan Amount
Will Vary Depending on Down Payment and Subsequent Use
No Mortgage Insurance
No Maximum Loan Amount
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First-Time Homebuyer Loans
Down Payment Requirements
Conventional – 3% (Can be Gifted)
FHA - 3.50% (Can be Gifted)
VA - 0% (Zero Down Payment)
USDA – 0% (Zero Down Payment)
Down Payment Assistance
Conventional – Up to 3% (Restrictions Apply)
FHA – Up to 3.50% (Restrictions Apply)
Credit Score Requirements
Conventional – 620+
FHA – 580+
VA – 580+
USDA – 640+
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USDA (Rural Development) Loans
Zero Down Payment – 100% Financing
640 Minimum Credit Score
1.00% Upfront Mortgage Insurance Premium
Financed into Loan Amount
0.35% Monthly Mortgage Insurance
Remains for Life of Loan
Income and Property Areas Restricted
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Investment Property Loans
20% Down Payment
620 Minimum Credit Score
DSCR (Debt Service Coverage Ratio)
Qualify Based on Rental Income
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One-Time Close Construction Loans
As Low as 5% Down Payment
700 Minimum Credit Score
Construction and Permanent Financing in One Mortgage
Interest Only Payments During Construction
$766,550 Maximum Loan Amount
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Jumbo Loans
As Low as 10% Down Payment
680 Minimum Credit Score
Loan Terms from 10 to 30 Years
No Mortgage Insurance Option
Loan Amounts Over $766,550
Apply Now
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Physician (Doctor) Loans
Zero Down Payment – 100% Financing
720 Minimum Credit Score
Credit Scores Down to 680 Allowable with Reduced LTV (Loan-to-Value)
Loan Terms of 15 and 30 Years
No Mortgage Insurance
$1,000,000 Maximum Loan Amount
Loan Amounts Up to $2,000,000 Available with Reduced LTV
Apply Now
Learn More
Each purchase loan program has its own unique features and requirements,
so it's important for homebuyers to research and compare their options
carefully to find the loan that best suits their financial needs and goals.
About Us
We strive to deliver the highest levels of service to help you reach your
goals. We thank you for your trust and support. From the first call to
closing, our team is with you every step of the way!
Connect With Us
Contact Us

13117 Eastpoint Park Blvd, Ste A
Louisville, KY 40223

(502) 657-4299
 loaninquiry@ffmlending.com
Loan Options
Conventional Loans
FHA Loans
VA Loans
USDA Loans
First-Time Homebuyer
First-Time Homebuyer
Investment Property Loans
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