SHARE IF YOU KNOW A LOUISVILLE, KENTUCKY FIRST-TIME HOME BUYER WHO COULD USE $15,000 IN FREE DOWN PAYMENT MONEY and 0% interest.
Have you been waiting to buy a home? NOW is the time!
Kentucky Housing Corporation has a program coming out January 20th. Here are the basics:
*ZERO percent interest rate
*A non-repayable second mortgage up to $15,000 (KHC will give you up to $15k to cover your down payment and closing costs and if you stay in the home 5 years, you don’t have to pay it back!)
JEFFERSON COUNTY KENTUCKY PROPERTIES QUALIFY
KHC has put $7 million in this fund but that’s only about 500 homes and when it’s gone, it’s GONE. You have to get started NOW!
New and Existing Properties Located in Christian, Hardin, Jefferson, or Kenton Counties New and Existing Properties Eligible Borrowers First-time Home Buyers (No ownership interest in the last 3 years)
I have a buyer wanting to participate in the upcoming HHF DAP program. How do they register or apply? Have to wait until January 20, 2016 to register with KHC for first and DAP
Can we apply for it now or do we have to wait until January 20, 2016? WAIT
Do we register the loan like a regular dap loan? YES-but wont have the option to reserve until January 20, 2016
Lastly, do they have to have a house under contract? YES. Contract and application date can be before the loan reservation.
Borrowers must complete prepurchase home buyer education in the form of an online, telephone, or face-toface workshop Not Required Ratios No monthly payment With AUS approval, can go up to 40/45% Borrower must qualify with additional monthly payment. With AUS approval, can go up to 40/45% Required Repairs Buyer or seller may use OWN funds to pay for repairs and pay off existing debt DAP