His score does not sound like he will meet the minimum credit score threshold which probably means he will not meet FHA scorecard either.
Info on Rent to Own:
Credit Repair can be a Crime:
Down Payment Assistance in Kentucky:
FHA does not finance new home construction.
Also, although technically FHA states that you need more than a 500 credit score for an FHA loan, I do not know any lender doing less than a 560 score and that would require a minimum 10% down payment.
So unless you can qualify on your income alone I do not see you getting an FHA loan at this time. Also if you had a BK two years ago FHA requires that you re-establish credit after the BK and typically underwriters do not want to see even one blemish on your credit after a BK.
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