Lexington’s inventory crunch is most acute under $275k, where first-time buyers compete with investors seeking Airbnbs near UK campus. New listings peak between March and May, so pre-approval letters dated within 60 days give you negotiation clout. Distressed inventory is under 2% thanks to rapid appreciation, but NMHL’s FHA 203(k) and conventional Homestyle renovation loans let you turn a $190k fixer in North Limestone into equity quickly.

• Median days on market: 12 (Realtor.com April 2024)
• List-to-sale ratio: 99.4%—sellers rarely concede over 1%
• Share of cash offers: 18%, down from 28% last year as rates rose

If you’re relocating from Louisville or Cincinnati, note that Lexington assesses property values at 100% of fair cash value, so budget 1.1% of purchase price annually for taxes—still lower than Jefferson or Hamilton counties.

Under $200k: Kenwick and Cardinal Valley offer 1,100-sq-ft 3-bedrooms within I-75 loop. FHA 203(k) works well here; expect $40k rehab budgets.

$200k-$300k: Meadowthorpe, Garden Springs, and Masterson Station give you ¼-acre lots and access to great elementary schools like Rosa Parks Elementary.

$300k-$450k: Chevy Chase, Landsdowne, and Beaumont Centre mix 1950s brick ranch with new infill. VA buyers like the proximity to the Lexington VA Medical Center on Leestown Road.

$450k+: Ashland Park, Hartland, and Firebrook feature historic Tudor or 4,000-sq-ft modern builds. NMHL’s jumbo 5%-down product caps at $1.1M for primary residences.

Don’t overlook USDA-eligible parcels southeast toward Clay’s Ferry—just inside Fayette County line—where you can buy with 0% down and finance closing costs into the loan up to appraised value.

Nearly every NMHL borrower under $120k income leaves the closing table using free money—here’s how:

KHC Regular DAP: Borrow up to $10,000 at 3.75% for 10 years; payment is only $99/month on $10k. No recapture tax if you refinance later.

KHC Market Rate DAP: Same $10k cap but at 0% interest for first-time buyers; combine with conventional 97 or FHA 96.5 LTV.

Lexington HOME Funds: $10k zero-interest forgivable after five years of owner-occupancy; property must be inside urban-county boundary and price under $300k.

Federal Home Loan Bank of Cincinnati Down-Payment Plus: $7,500 or $10,000 matching grant; NMHL is a member institution and reserves allocations every April—apply early.

All grants can be stacked with NMHL’s Lender Credit up to 1% of loan amount, letting qualified buyers purchase with as little as $500 out-of-pocket.

Lexington hosts the national HQ of the VA’s Consolidated Mail Outpatient Pharmacy, and Blue Grass Army Depot in nearby Richmond keeps veteran presence strong. NMHL’s Lexington branch closed 212 VA loans last year—85% were zero-down and 40% had credit scores below 640. Highlights:

• No purchase-price limit for 0% down if you have full entitlement; we lend up to $715k without requiring a down payment in Kentucky’s high-cost counties.
• VA Funding Fee drops from 2.15% to 1.25% when you put 5% down—often recouped by the lower rate we quote.
• We waive the entire 1% origination fee for veterans rated 10% or greater disabled, saving $3,000 on a $300k mortgage.
• Lexington Veteran’s Affairs Medical Center provides disability-rating letters same day if you need paperwork for funding-fee exemption.

Surviving spouses and active-duty National Guard count too; we qualify you using BAH and variable flight pay via the KY Air National Guard 123rd Airlift Wing.

Central Kentucky is full of contingent-faculty, tipped servers, and seasonal horse-industry workers whose credit bruises don’t reflect true ability to pay. NMHL’s Credit Lift program has three Lexington-specific levers:

1. Rapid Re-Score Through Local Bureaus: We pay Lexington Credit Union and UK Federal Credit Union to report current balances overnight—common 30-point jumps.

2. Tradeline Simulation: Our software shows what happens if you add a $500-limit secured card from Central Bank or a $2,000 line at Park Community Credit Union; 87% of participants gain 20-60 points in 45 days.

3. FHA Manual Underwrite: We can approve scores as low as 500 with 10% down if your housing-debt-to-income is under 31% and you document 12 months of on-time rent via cancelled checks.

Even if you had a Chapter 7 discharge yesterday, FHA allows financing one day after discharge if you re-establish credit and can document extenuating circumstances (job loss, medical). Lexington rents are rising 8% annually—owning with imperfect credit still beats paying $1,800/month for a 2-bed apartment in The Summit at Fritz Farm.

Lexington’s equine, bourbon, and healthcare entrepreneurs often write off income that hampers conventional qualification. NMHL’s 12- or 24-month bank-statement programs solve that:

• Use 80% of personal statement deposits or 50% of business deposits after removing large inflows/outflows.
• Acceptable businesses range from Thoroughbred consigners in the 40510 area to food-truck owners at Thursday Night Live.
• Only 10% down required up to $715k; 15% down to $1M with no MI.
• 109-only option for real-estate agents who want to qualify on commission income without tax returns.

We’ve closed loans for farm managers, craft-distillery start-ups, and UK surgeons with multiple LLCs within 21 days—our in-house underwriters speak Kentucky Schedule C lingo.

If you receive K-1 or distribution income from family horse partnerships, we average two years and add back depreciation and depletion—boosting qualifying income by 20-30%.