Mortgages Made Easy

Start the stress-free home buying experience today. At Field & Main Bank®, we aim to surpass your mortgage expectations with friendly service, education, and expertise. You’re not just a homebuyer. You’re a friend. We proudly provide mortgages to home buyers living in Henderson, Lexington, and Cynthiana, Kentucky, as well as Evansville, Indiana. To learn more about mortgages, call 1-888-831-1500 or contact us.

FHA Home Loans

Locked-in rates with flexible terms and low closing costs.

FHA home loans are insured through the Federal Housing Administration.

They are fixed-rate loans with flexible terms, including low down payments, low closing costs, and easy credit qualifying.

An FHA home loan might be a good fit if you:

  • Are a first-time homebuyer
  • Earn a qualifying income
  • Want to buy a home with a low down payment
  • Want to refinance your existing home loan at a lower rate

How do FHA homes work?

The Federal Housing Administration insures the FHA Loan through an FHA-approved lender. These loans are great for those looking to buy a home with low- or moderate-income. FHA loans usually require a lower down payment (3.5%) and lower credit score (640 or better) when compared to traditional home loans.

For first time buyers, this is sometimes a great option, and our lenders are happy to assist clients with these types of loans.


What is the difference between an FHA home loan and a conventional mortgage?

There are several differentiating factors between FHA loans and conventional mortgages.

Conventional loans

Require buyers to have higher credit scores
Require the use of PMI (Private Mortgage Insurance) when the homebuyer’s down payment is less than 20%


FHA loans

Allow buyers to have lower credit scores.
Employ the use of mandatory FHA mortgage insurance. This cannot be eliminated unless the homebuyer decides to refinance into a conventional loan.

In Summary:

If you’re a homeowner with a credit score below 640, you will most likely not qualify for a conventional home loan, so an FHA loan could be an option for you.

Who is eligible for FHA home loans?

You could eligible for an FHA loan if you meet these requirements:

  •  Debt-to-Income Ratio must be less than 45%. Debt-to-Income Ratio can be 55% if borrower’s credit score is 660 or higher
  • The home must be the new owner’s primary residence
  • Mortgage Insurance Premium is required
  • FICO® score at least 640
  • Borrower must have steady income and proof of employment

Why Should I Apply Through Field & Main for My FHA Loan?

We’re more than a bank. We’re relationship-driven lending experts. To learn more about the relationships we build with homeowners through our lending services, get in touch with a mortgage lending expert today. Visit any Field & Main office in Kentucky: Henderson, Lexington, and Cynthiana, or Evansville, Indiana.

Fixed-Rate Loans

Lock in your interest rate so your payments stay the same for the entire life of the loan.

Government Guaranteed Loans

Affordable home loans for first-time home-buyers and people with lower credit scores.