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?


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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!

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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)

 Credit Standards KHC will require all originating lenders to comply with the general Ability-To-Repay (ATR) standards and consider DTI in making reasonable, good faith determinations that the consumer has the ability to repay the loan. KHC’s credit standards and maximum ratio requirements are listed down below. • Insuring Agency credit standards for the loan type the borrower receives. • 640 minimum credit score required for FHA, VA and RHS680 minimum credit score required for Conventional and must receive an Approve/Eligible recommendation from DU through HFA Preferred Risk Program for Conventional No MI Program or Conventional with MI must receive an Approve/Eligible recommendation from DU through the Preferred Program.

 AllThis is truly a once in a lifetime gift and the money is first come first serve. You must have an accepted contract by January 20th to have the best chance at receiving the funds!




Questions and Answers below about the HHF DAP $15,000 Down payment assistance:

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, 2016WAIT

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
 

HHF DAP is available on a first-come, first-served basis.
Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
 Fax:     (502) 327-9119
 
 

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2 thoughts on “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?

  1. Pingback: 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? | Louisville Kentucky Mortgage Loans

  2. Reblogged this on and commented:

    This is truly a once in a lifetime gift and the money is first come first serve. You must have an accepted contract by January 20th to have the best chance at receiving the funds!

    Questions and Answers below about the HHF DAP $15,000 Down payment assistance:

    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.

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