First-Time Home Buyer Loans

A couple and their dog in their new house.

Let's get you moved into your very own place.

It's easier than ever for renters to make a smooth transition to home ownership.

Feel the thrive

Low down payments

First-Time Home Buyer Loans can finance 97% or more of your home purchase.

Competitive Rates

Lower interest charges lead to lower monthly payments - and that help keeps your finances on track.

Flexible credit requirements

You don't need a perfect credit score to get one of these almost perfect loans. 

This is one of life's big moments. We're glad to help you get there. 

Graduation day. Landing a great job. Welcoming a baby into the world. On the list of major milestones, buying your first home is right near the top. Not long ago, getting to this point took years of saving up for a down payment and building up a credit score. But these days, Paducah Bank's mortgages for first-time home buyers clear away financial hurdles and help you get your foot in the door.

97% HomeReady

Are you a quick study? If you complete a web-based class on home ownership, you might qualify for a great mortgage with a 3% down payment.

  • Household income limit of $51,500, depending on property (some properties have no income limitations)
  • Complete a web-based education class
  • Qualify for a reduced mortgage rate
  • Pay lower mortgage insurance
  • The full 3% down payment can be a gift from a family member, close friend or other eligible source
  • Once approved, click on this link to complete the homebuyer education course.
97% Conventional

It can take awhile to build up your credit score at the beginning of your career if you've had a financial setback. While you're doing that hard work, you should still be able to enjoy your own home. 

  • Low interest rates on fixed-rate mortgages
  • Minimum credit score of 620 to be eligible
  • Full 3% down payment can be a gift from an eligible source
  • One borrower must be a first-time homebuyer
  • Investment properties are not allowed

Start with our online mortgage application or connect with one of our lenders in Paducah or Louisville.

A man applying for a mortgage online.

Related Resources

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