The two most used no money down home loans in Kentucky being USDA Rural Housing and KHC with their down payment assistance will want a 640 middle score on their programs. If you have access to 3.5% down payment, you can go FHA and secure a 30 year fixed rate mortgage with some lenders with a 580 credit score.
Thus, you have100% financing, and no down payment was paid by buyer.. a no down payment loan is to utilize one of the many low or no down payment programs that exist.. Purchase and repair, then get new loan to pay off hard money.