KHC Loan Programs

KHC Loan Programs.

KHC offers two different funding sources: Secondary Market and MRB.

SECONDARY MARKET FUNDING SOURCE

• First-time and repeat homebuyers statewide
• 30-year fixed interest rate
• Principle residence ONLY
• Purchase Price Limit: $243,000
• Borrower must meet KHC’s Secondary Market Income Limits

Conventional No Mortgage Insurance Program

• Minimum credit score of 660
• 3 percent down payment and no up-front or monthly mortgage insurance
• All KHC DAPs applicable
• No minimum borrower contribution
• No reserves required

FHA

• Insured by the Federal Housing Administration
• 3.5 percent down payment
• All KHC DAPs applicable
• Upfront and monthly mortgage insurance
• Minimum credit score of 620

Two FHA Refinance Options (Available Only Through Secondary Market)

• Credit qualifying Streamline Refinance and Rate/Term Refinance
  • Insured by the Federal Housing Administration
  • Cash back to borrower not to exceed $500
  • Upfront and monthly mortgage insurance
  • Minimum credit score of 620

VA

• Guaranteed by the Veterans Administration for qualified military veterans