Down payment Assistance for Kentucky First Time Home buyers 2022 – Louisville Kentucky Mortgage Loans

Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans's avatarKentucky FHA Mortgage Lender

Down payment assistance loans are available up to $7,500 and are paid back over a period of ten years. They are typically offered to buyers with limited cash reserves and carry an interest rate of 1 to 3.75% based on applicants gross income.

These loans can make a critical difference to buyers for whom the down payment is an obstacle. Buyers whose 3.5% down payment is less than the $7,500 limit may choose to use the remainder of a down payment loan to pay closing costs, further reducing the amount needed to bring to closing.

Kentucky Down Payment Assistance

This type of loan is administered by KHC in the state of Kentucky. They typically have $7,500 down payment assistance year around, that is in the form of a second mortgage that you pay back over 10 years at a interest rate of 1% or 3.75% depending on your income in…

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