First Time Home Buyer Programs Available in Kentucky.


First Time Home Buyer

 Programs in Kentucky

Complete First Time Home Buyer Programs Available in Kentucky.

The state agency created by the legislature in Kentucky to offer first time home buyer programs is the Kentucky Housing Corporation. Here is a summary of the current first time home buyer programs that are offered:
Regular Down payment Assistance Program (DAP)
Assistance up to $5,000.
Available to all KHC first mortgage loan recipients.
Repaid over 7 or 10 years at a low fixed interest rate (6.0%)
HOME-DAP
Assistance up to $4,500
No monthly repayment; forgiven over five years.
Existing homes only.
Borrowers must meet HOME-income guidelines.
HOME Special Program
Assistance up to $10,000
No monthly repayment; forgiven over five years.
Existing homes only.
Borrowers must meet HOME-income guidelines.
Purchase price may not exceed $200,000.
Eligible borrowers include:
Households that include a person with a permanent disability and who receives disability income (SSI, SSDI, Veterans Disability etc.).
Households where at least one of the home buyers is age 62 or older.
HOME Family Program
Assistance up to $10,000
No monthly repayment; forgiven over five years.
Existing homes only.
Borrowers must meet HOME-income guidelines.
Purchase price may not exceed $200,000.
Eligible borrowers include:
Single- and two-parent households that have at least one dependent child under the age of 18 living in the household and that are first-time home buyers (have not owned a home or had an ownership interest in a home in the last 3 years).

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