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.
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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
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· FHA, VA and RHS (Minimum credit score of 620)
· First-time homebuyer or repeat homeowner eligible (if property is located in a Targeted County)
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KENTUCKY HOUSING CORPORATION MRB and
HOMEBUYER TAX CREDIT
GROSS ANNUAL HOUSEHOLD INCOME LIMITS
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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.
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Funding Source: New Bond Funds (Purchase Price Limit – $243,000)
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Person(s) per household
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(1 or 2)
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(3 or more)
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Person(s) per household
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(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
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0
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—
Joel Lobb
Senior Loan Officer
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
Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 
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Reblogged this on Kentucky First Time Home Buyer Programs for 2017 FHA, VA, KHC, USDA, RHS, Fannie Mae Loans in Kentucky and commented:
Down Payment Assistance Program for Jefferson County Kentucky Louisville | Kentucky First Time Home Buyer Programs
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