Best of
Best Kentucky Housing Corporation Lenders of 2019
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The Kentucky Housing Corporation offers down payment assistance and mortgage tax credit programs. See our top picks for KHC-approved lenders.
at BB&T Mortgage
at BB&T Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Considers alternative credit history on certain loans.
- Offers construction loans to build a home or make significant renovations to an existing home.
- Flexible borrowing and payment options for home equity loans and lines of credit.
- Full suite of online capabilities.
Cons
- Available mostly in the Southeast; not available nationwide.
- Creating an account is mandatory if you want to apply online.
at NerdWallet
at NerdWallet
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Works with most borrowers as long as they have good credit scores and incomes.
- Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.
- Has a 95% customer satisfaction rate, according to company data.
Cons
- Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.
- Offers many products, which might confuse or overwhelm borrowers.
- Several click-throughs required for personalized rates.
at Caliber Home
at Caliber Home
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Participates in some down payment assistance programs.
- Offers educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
Cons
- No mortgage rates displayed online.
- Must work with a loan officer for pre-qualification and preapproval.
at Fairway
at Fairway
National / Regional
National
Min. Down Payment
3%
Pros
- A robust suite of loan products.
- Licensed in all 50 states.
- Close in as little as 10 days using the Fairway app.
Cons
- Limited branch locations.
- Mortgage rates not posted on website.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
Pros
- Offers digital income, asset and employment verification.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
at Churchill
at Churchill
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers loans to customers without credit scores, using alternative data.
- Helps customers find relevant state housing and rural/farm programs.
- Offers annual mortgage reviews to help borrowers stay on track toward the goal of living debt-free.
Cons
- Not available everywhere: serves 44 states and D.C.
- Some borrowers, particularly in expensive urban areas, may be put off by the debt-free homeownership strategy.
- Does not offer home equity loans or HELOCs, but will "broker them out."
at PrimeLending
at PrimeLending
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
- Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
- Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
- Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
- NeighborhoodEdge closing-cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
- “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.
Cons
- No live chat online.
- No online mortgage rates quotes.
Summary of Best Kentucky Housing Corporation Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
BB&T at BB&T Mortgage | online experience | 620 | 3% | at BB&T Mortgage |
Guaranteed Rate at NerdWallet | online experience | 620 | 3% | at NerdWallet |
Caliber at Caliber Home | veterans | 620 | 3% | at Caliber Home |
Fairway at Fairway | buying a fixer-upper | N/A | 3% | at Fairway |
loanDepot at loanDepot | buying a fixer-upper | 620 | 3.5% | at loanDepot |
Churchill at Churchill | borrowers with limited credit history | 620 | 3% | at Churchill |
PrimeLending at PrimeLending | borrowers with limited credit history | 620 | 3% | at PrimeLending |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
BB&T at BB&T Mortgage | online experience | 620 | 3% | at BB&T Mortgage |
Guaranteed Rate at NerdWallet | online experience | 620 | 3% | at NerdWallet |
Caliber at Caliber Home | veterans | 620 | 3% | at Caliber Home |
Fairway at Fairway | buying a fixer-upper | N/A | 3% | at Fairway |
loanDepot at loanDepot | buying a fixer-upper | 620 | 3.5% | at loanDepot |
Churchill at Churchill | borrowers with limited credit history | 620 | 3% | at Churchill |
PrimeLending at PrimeLending | borrowers with limited credit history | 620 | 3% | at PrimeLending |
More KHC-approved lenders
These lenders also participate in KHC programs and are among the highest-volume mortgage providers in Kentucky; however, they haven’t been reviewed by NerdWallet.
Century Mortgage
- Allows you to submit a preapproval request online.
- Doesn’t list rates or loan types on its website.
- Has several locations in Kentucky.
Commonwealth Bank and Trust
- You must speak with a loan officer to apply.
- Doesn’t publish loan options or mortgage rates on its website.
- Has over a dozen locations in the Louisville area.
Fifth Third Bank
- Provides online appointment scheduling with loan officers.
- Doesn’t appear to have a digital application.
- Has nearly 20 branch locations in and around Lexington.
Stockton Mortgage
- Lets you start the preapproval process online.
- Offers a wide variety of mortgage products.
- Has over a dozen branch locations in Kentucky.
More from NerdWallet
Last updated on May 14, 2019
Methodology
To recap our selections...
NerdWallet's Best Kentucky Housing Corporation Lenders of 2019
- BB&T: Best for online experience
- Guaranteed Rate: Best for online experience
- Caliber: Best for veterans
- Fairway: Best for buying a fixer-upper
- loanDepot: Best for buying a fixer-upper
- Churchill: Best for borrowers with limited credit history
- PrimeLending: Best for borrowers with limited credit history
