I specialize in Louisville, Kentucky FHA, VA, USDA, KHC, Fannie Mae and Jumbo mortgages loans in Ky. I am based out of Louisville, Kentucky. I have helped over 589 Kentucky families buy their first home and refinance their current mortgage for a lower rate; For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance. Free Mortgage Pre-qualifications same day. Call or text me at 502-905-3708 email@example.com NMLS#57916
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 needs.
Neighborhood Down payment Assistance Program (DAP)
Kentucky Housing Corporation (KHC) received $3 million from the National Mortgage Foreclosure Settlement Fund to offer a new mortgage program for down payment and closing costs assistance. This program is only available until all funds are gone.
Repayable second mortgage up to $10,000
1 percent interest rate for 30 years.
Income must be less than $124,775 (terms and conditions apply).
To be eligible for the Neighborhood DAP, either:
The property must be in the process of disposition option (i.e., deed-in-lieu, short sale) or foreclosed upon.
The newly-constructed or existing property has been for sale for at least six months.
The home buyer has experienced a foreclosure and credit qualifies to purchase another home.
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 6 percent. A DAP of $6,000 over ten years at 6 percent interest would equal a payment of $66.61.
Available to all KHC first-mortgage loan recipients.