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.