KHC Loan Programs

Conventional Loans

The KHC also offers a conventional loan program for borrowers with a credit score of 660 or better. The conventional loan features a quick turnaround time, requires a 20% down payment, and has no up-front or monthly mortgage insurance. Under the program, the loan is insured by an approved mortgage insurance company

FHA Loans

The FHA loans offered through the KHC require that borrowers have a minimum credit score of 620. The loans feature down payments of as little as 3.5% and upfront and monthly mortgage insurance. The KHC’s Regular Down payment Assistance Program (DAP) can be used for the 3.5% down payment requirement. All FHA loans are insured by the Federal Housing Administration (KHC Loan Programs

VA Loans

As with all VA loans, the VA loans offered through the KHC are guaranteed by the Veterans Administration for qualified military veterans with a minimum credit score of 620. These loans feature:

· no down payment if the property appraises for the sale price or greater;

· flexible credit underwriting; and

· no monthly mortgage insurance payments .

RHS Loans

RHS loans are guaranteed by Rural Housing Services (RHS) and are available only for homes located in a rural area as defined by RHS. Like the VA loan, the RHS loan requires that borrowers have a minimum credit score of 620, and doesn’t require a down payment if the property appraises for the sale price or greater