Down Payment Assistance Program for Jefferson County Kentucky Louisville


Down Payment and Closing Costs Assistance for Jefferson County Kentucky Metro Area home buyers

Kentucky Housing recognizes that down payments, closing costs and prepaids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

Regular DAP

  • Purchase price up to $243,000.
  • Assistance in the form of a loan up to $6,000 in $100 increments.
  • Repayable over a ten-year term at 5.50 percent.  A DAP of $6,000 over ten years at 5.50 percent interest would equal a payment of $65.12.
  • Available to all KHC first-mortgage loan recipients.

Affordable-DAP

  • Purchase price up to $243,000.
  • Assistance up to $4,500
  • Repayable over a ten-year term at 1.00 percent.
  • Borrowers must meet Affordable DAP Household Income Limits.

More about down payment and closing costs

  • No liquid asset review and no limit on borrower reserves.
  • Specific credit underwriting standards may apply to down payment programs.

Mortgage Revenue Bond (MRB) First Mortgage Loan Program

·         First mortgage loan fixed for 30 years
·         KHC’s MRB household income limitations apply
·         New and existing homes up to a purchase price of $243,000 are eligible
·
·         FHA, VA and RHS (Minimum credit score of 620)
·         First-time homebuyer or repeat homeowner eligible (if property is located in a Targeted County)
 
 
 
 
KENTUCKY HOUSING CORPORATION MRB and
HOMEBUYER TAX CREDIT
GROSS ANNUAL HOUSEHOLD INCOME LIMITS
The income limitations listed below are imposed by federal law.
Failure to comply with them may create adverse consequences for Kentucky Housing Corporation and its bondholders.
Funding Source:  New Bond Funds (Purchase Price Limit – $243,000)
Person(s) per household
 (1 or 2)
 (3 or more)
Person(s) per household
 (1 or 2)
 (3 or more)
Anderson
67,369
77,475
Kenton
83,400
97,300
Ballard
64,320
75,040
Larue
68,520
79,940
Barren
58,200
67,900
Laurel
53,000
60,950
Boone
83,400
97,300
Livingston
61,440
71,680
Bourbon
80,520
93,940
Lyon
62,040
72,380
Boyd
58,200
67,900
Madison
66,720
77,840
Bracken
85,560
99,820
Marion
61,080
71,260
Bullitt
74,160
86,520
Marshall
67,560
78,820
Caldwell
54,840
63,980
McCracken
64,920
75,740
Calloway
62,040
72,380
McLean
68,760
80,220
Campbell
83,400
97,300
Meade
62,280
72,660
Christian
63,000
73,500
Mercer
66,960
78,120
Clark
80,520
93,940
Muhlenberg
53,000
60,950
Daviess
67,320
78,540
Nelson
68,880
80,360
Edmonson
68,880
80,360
Oldham
74,160
86,520
Fayette
67,229
77,314
Owen
66,480
77,560
Franklin
67,189
77,268
Pendleton
85,560
99,820
Gallatin
85,560
99,820
Robertson
60,840
70,980
Graves
58,440
68,180
Scott
80,520
93,940
Greenup
58,200
67,900
Shelby
75,770
87,135
Hancock
67,320
78,540
Simpson
66,120
77,140
Hardin
66,720
77,840
Spencer
76,560
89,320
Harrison
63,840
74,480
Taylor
53,000
61,740
Henderson
68,049
78,257
Trigg
63,000
73,500
Henry
76,560
89,320
Trimble
76,560
89,320
Hickman
63,480
74,060
Union
66,960
78,120
Jefferson
74,160
86,520
Warren
64,560
75,320
Jessamine
67,229
77,314
Webster
76,560
89,320
Woodford
67,229
77,314
0
 

 
Joel Lobb
Senior  Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

phone: (502) 905-3708
 Fax:     (502) 327-9119
 
 Company ID #1364 | MB73346
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7 thoughts on “Down Payment Assistance Program for Jefferson County Kentucky Louisville

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