FHA Loans
FHA Home Loans in Cadiz KY
Looking for an affordable path to homeownership? FHA loans are designed to help more people — especially first-time buyers — qualify for a mortgage with low down payments and flexible credit requirements. At Quality Home Mortgage, we’ve helped hundreds of buyers in Cadiz and throughout Western Kentucky secure FHA loans that fit their needs and budget.
What Is an FHA Loan?
An FHA loan is insured by the Federal Housing Administration. That means lenders (like us) can offer more lenient approval terms to borrowers who might not qualify for conventional loans. FHA financing is especially popular among buyers with limited savings or lower credit scores.
Government-Backed Support for Buyers
Key Benefits of FHA Financing
- Low 3.5% down payment (for credit scores of 580+)
- Flexible credit requirements — scores as low as 580 may qualify
- Lower interest rates compared to some conventional loans
- Fixed 15- or 30-year terms available
- Can be used for single-family homes, townhomes, condos, and more
FHA loans are an excellent fit for first-time buyers and families looking to move into a home without waiting years to save a large down payment.
Who Qualifies for an FHA Loan?
Basic FHA Loan Requirements:
- Credit score of 580+ for 3.5% down (500–579 may qualify with 10% down)
- Stable income and employment history
- Debt-to-income (DTI) ratio typically below 43%
- Property must be your primary residence
- Must meet FHA appraisal standards
We’ll walk you through the full requirements, assess your unique situation, and help you understand if an FHA loan is your best fit.
Why Choose Quality Home Mortgage for FHA Loans?
We’ve worked with buyers across Trigg County and surrounding areas for over two decades, providing personalized loan support, not just pre-filled forms. Whether you’re a first-time buyer or looking to refinance, we help make FHA lending simple and stress-free.
Trusted Guidance Since 2004
Local Knowledge You Can Count On
We know the homes, neighborhoods, and price points in Cadiz, Hopkinsville, Princeton, and nearby communities. That insight helps us speed up approvals and offer local resources other lenders might overlook.
Conventional vs. Government-Backed Loans
| Feature | Conventional | FHA | USDA | VA |
|---|---|---|---|---|
| Backed by Gov't? | ❌ | ✅ | ✅ | ✅ |
| Minimum Down | 3–5% | 3.5% | 0% | 0% |
| Mortgage Insurance | PMI until 20% equity | Required for life (under 10% down) | Lower MI | No MI |
| Credit Score Flexibility | Higher required | More forgiving | Moderate | Moderate |
Not sure which to choose? That’s where we come in.
FHA Loan Process – Step by Step
1
Step 1: Consultation
We review your credit, income, and homeownership goals to see if FHA is right for you.
2
Step 2: Pre-Approval
Get pre-approved for a specific loan amount so you can shop with confidence.
3
Step 3: Find Your Home
We’ll help connect you with trusted realtors and make sure your chosen property meets FHA guidelines.
4
Step 4: Submit & Close
Our team handles the full application, coordinates with underwriters and appraisers, and walks you through to closing day.
FAQs About FHA Loans
How much do I need for a down payment?
Just 3.5% of the purchase price if your credit score is 580 or higher.
What kind of homes qualify for FHA loans?
Single-family homes, condos, townhomes, and some manufactured homes may qualify — but the property must meet FHA appraisal and condition guidelines.
Can I use gift funds for my down payment?
Yes! FHA loans allow buyers to use gift money from family or approved sources for down payments and closing costs.
Can I refinance an existing FHA loan?
Absolutely. FHA Streamline Refinance is available with no appraisal or income verification required in many cases.
Start Your FHA Loan Today
Whether you’re buying your first home or returning to the market, FHA financing can make the process easier and more affordable. Let the experienced team at Quality Home Mortgage guide you from pre-approval to closing with confidence and care.