$10,000 DOWN PAYMENT ASSISTANCE GRANT FOR LOUISVILLE KENTUCKY HOME BUYERS BEGINNING SEPTEMBER 1ST 2016


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Get Ready Louisville Kentucky First Time Home Buyers. KHC is offer $4 million in funding available with new reservations on or after Thursday, September 1, 2016. This will go super fast so I recommend have a house under contract before that date so you can attempt to secure the $10,0000 Downpayment Assistance Grant. First come, First Serve basis. The last grant like this one was gone within first few hours.

You must have a house under contract and meet the following guidelines below:

  • Zero percent interest rate for Louisville Kentucky first-time home buyers.
  • A non-repayable second mortgage for $10,000.
  • Forgiven after five years.
  • Home purchase must be located in Christian, Hardin, Jefferson, or Kenton counties.
  • Applicants must meet secondary market income and buying limits.
  • Minimum 640 Credit Score
  • Max Purchase Price Limit of $283,000
  • Max Household Income Limits of $117,250
  • Must provide 3 years tax returns to prove a first time home buyer in Louisville KY
  • Must complete an online homebuying course
  • Max debt to income ratios of 40 and 45% respectively with Approved Eligible Findings
  • Never been convicted of a felony crime in last 10 years for tax evasion, larceny or real estate transaction.. 
  • No Bankruptcies last 2 years for FHA 

 

 

 

 

HUD Homes in KY 2013

 


Joel Lobb (NMLS#57916)
Senior  Loan Officer

Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of  my employer. Not all products or services mentioned on this site may fit all people.
NMLS ID# 57916, (www.nmlsconsumeraccess.org). I lend in the following states: Kentucky

 

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4 thoughts on “$10,000 DOWN PAYMENT ASSISTANCE GRANT FOR LOUISVILLE KENTUCKY HOME BUYERS BEGINNING SEPTEMBER 1ST 2016

  1. Pingback: $10,000 DOWN PAYMENT ASSISTANCE GRANT FOR LOUISVILLE KENTUCKY HOME BUYERS BEGINNING SEPTEMBER 1ST 2016 | Louisville Kentucky Mortgage Loans

    • $10,000 HHF DAP
      Did you hear the news? Kentucky Housing Corporation (KHC) announced a new Hardest Hit Fund Down payment Assistance Program (HHF DAP)! A total of $4 million will be available for new reservations beginning on Thursday, September 1, 2016, at 10 a.m., ET. If you follow KHC on Facebook, you heard about this yesterday. The HHF DAP will be available on a first-come, first-served basis, based on the completion of the first mortgage and HHF DAP reservations.

      HHF DAP Guidelines:
      $10,000, 0 percent interest, forgivable second mortgage loan with a five-year term.
      Not required to be at maximum LTV first mortgage amount.
      No less than 81 percent LTV with conventional loans.
      Property (new or existing) must be located in one of four counties:
      Christian
      Hardin
      Jefferson
      Kenton
      Funding Source (Secondary or MRB) Purchase Price and Income Limits apply.
      Can be used in conjunction with MRB Special Funding Program.
      Borrower must be a first-time home buyer (no ownership interest in the last three years.)
      Most recent three year federal tax returns or tax transcripts required.
      Pre-purchase home buyer education required for all borrowers.
      Dodd-Frank Certification must be completed (will print with loan reservation).
      Must include a Terms and Conditions form (will print at closing with the HUD-1, Note, and Mortgage.)
      This form highlights a few of the program requirements, such as occupancy/ownership status and forgiveness period.

  2. FHA, FHA loan, First-time buyer, home loan, Kentucky, Kentucky Housing Corporation, kentucky usda lenders, Kentucky-Louisville, khc, KHC’s (Kentucky Housing ) First Mortgage Government, Loan, Louisville Kentucky First Time Home Buyer, Mortgage loan, Real Estate, Zero down home loans

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