Showing posts with label Zero Down. Show all posts
Showing posts with label Zero Down. Show all posts

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Down Payment Assistance Kentucky 2022

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Down Payment Assistance Kentucky 2022: Down Payment Programs in Kentucky for 2022 ATTENTION: KHC has announced changes to the Down Payment Assistance Programs! This is great news ...


Kentucky Down payment assistance loans are available up to $7,500 for Mortgage

​​​​Kentucky Housing Down Payment Assistance for $7500 in 2022 for Kentucky Home Buyers




ATTENTION: KHC has announced changes to the Down Payment Assistance Programs! This is great news for buyers in Kentucky!
1. KHC is increasing the down payment assistance program amount from $6,000 to $7,500. This is for both Regular Down Payment and for Affordable Down Payment assistance programs
2. The interest rate on the repayment of the down payment assistance will go from 5.5% to 3.75%. (Affordable Down Payment assistance will remain at 1%)
Realtors: We are here to help you and your clients take advantage of these great opportunities.
Buyers: We are here to answer questions you have regarding this program and qualification requirements.


KHC is used for mostly applicants in Kentucky that don't have access to money for a down payment on their home. 

​​​​KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. Here are several loan programs to help. 

Regular DAP

  • Purchase price up to $346,644 with Secondary Market.
  • Assistance in the form of a loan up to $7,500 in $100 increments.
  • Repayable over a 10-year term at 3.75 percent.
  • Available to all KHC first-mortgage loan recipients.

Affordable DAP

  • Purchase price up to $346,644​ with Secondary Market.
  • Assistance up to $7,500.
  • Repayable over a 10-year term at 1.00 percent.
  • Borrowers must meet Affordable D​AP 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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Kentucky First Time Home Buyer Programs For Home Mortgage Loans: Louisville Kentucky Mortgage Lender for FHA, VA, ...

Kentucky First Time Home Buyer Programs For Home Mortgage Loans: Louisville Kentucky Mortgage Lender for FHA, VA, ...: Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Zero Down Kentucky Mortgages : ZERO DOWN...



Zero Down Kentucky Mortgages ZERO DOWN HOME LOANS IN KENTUCKY There are a few programs that feature zero down payment in Kentucky For Home buyers: USDA and VA. USDA is typically for rural areas, and VA is for military veterans. Lastly Kentucky Housing with the Down Payment Assistance Program of $6,000 and the $5000 Welcome Home Grant. I’ve included some info on each for you on your home journey to buy a home in Kentucky! USDA Loans USDA loans are backed through the Rural Housing Division of the U.S. Dept. of Agriculture. They are available to millions of eligible primary home buyers with low to moderate incomes or scarce funds for down payments. Features, benefits and things you need to know: Zero Down - No down payment is required for USDA loans. Thirty-year, fixed-rate loans with no pre-payment penalty are the norm. Rates are very competitive with conventional loans. Eligible Property - These loans are limited to "rural" areas, though you might be surprised by some of the suburbs of major metropolitan areas that qualify as rural. Homes should be modest in size and cost and constructed per local codes and regulations. Eligible Borrowers - Funds are available for qualified borrowers who earn up to 115% of the area median income. Even candidates who have had past credit issues with late pays, bankruptcies or foreclosure may be eligible. Borrower's income must support the proposed payments and meet the program requirements for approval. Primary occupancy is required. This program is not for investment properties. Benefits - Minimum cash is needed to close. The USDA Guarantee Fee and some eligible closing costs may be financed. Gift money, grant money and seller contributions are allowed. VA Loans Veteran's Administration or "VA" loans are available for active, non-active and retired Army, Air Force, Marine, Navy, National Guard and Coast Guard vets who meet the established service requirements. 100% financing/No down payment No monthly mortgage insurance (PMI) Gift funds acceptable for closing costs No cash reserve requirements A variety of terms or loan types available Available for purchase and refinance Reduced costs for disabled veterans Seller can pay for closing costs Seller pays for any required repairs No pre-payment penalty No minimum credit score 2 years removed from bankruptcy or foreclosures To determine your ability to participate in this program, just provide your Certificate of Eligibility (COE) or your Discharge/Separation form (DD214). If you do not have your COE, you can request one using form 26-1880. Kentucky Down Payment Assistance Programs From first-time buyers to current homeowners, many state, county and local housing agencies offer affordable loan programs with Down Payment Assistance (DPA), subject to availability of funds and credit qualifying. Down payment assistance can vary with single products or sometimes can be a combination of products such as Mortgage Credit Certificates (MCC), Grants, DPA’s along with closing cost assistance and low interest rates and fees that can help individuals and families become successful homeowners. All borrowers must qualify for an underlying mortgage product according to the Housing Finance Agency authority (FHA, VA, USDA or Conventional). Housing loan programs are then layered on top to provide additional benefits. If eligible, the borrower can also add a down payment and closing cost assistance to their loan according to individual program guidelines. What state are you in? I assume Kentucky? I will help you gather more information if this is something you want to look into. The general terms are below: KHC recognizes that down payments, closing costs, and prep​aids 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.


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Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Kentucky Mortgage Down Payment Requirements

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Kentucky Mortgage Down Payment Requirements:   If you’re a Kentucky  first-time homebuyer looking for low down payment mortgage options, several may be available to you. In fact, many o...




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(KHC) has $3 million available in MRB, Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years.

Kentucky Housing Corporation (KHC) has $3 million available in MRB, Special Funding, for active or non-active duty veterans at a 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis.


This program is targeted to:
  • Households whose gross annual income does not exceed $40,000.
  • An existing or new construction property (purchase price limit $130,000).
  • 620 minimum credit score.
  • FHA, VA, or RHS first mortgage options.
  • Households that include active / non-active duty veterans or other persons receiving VA benefits.

    Documentation may include but not limited to:
    • Leave and Earnings Statement (LES)
    • DD214 - Discharge from Active Duty
    • VA Award Letter
  • Must meet insuring agency guidelines.
  • Available statewide.
  • Both Regular and Affordable DAP are available.
As of Wednesday, September 20, 2017, KHC still has $184,500 available in Affordable Closing Costs Funds.

Only Homebuyers obtaining a KHC first mortgage are eligible for DAP. All DAPS take a lien
position & require input into LP/DU as subordinate financing. DAP funds can never be used to
pay for repairs. Once you have determined the loan type it’s time to see which of the following
KHC Down payment Assistance Programs (DAP) your borrower is eligible for. Follow the easy
steps below….

1. Check to see the applicant(s) income falls below the Affordable DAP Limits:
If yes then the borrower qualifies for the Affordable DAP up to $4,500. Affordable DAP
is amortized over 10 years at 1%. Borrower must qualify with second mortgage payment.
In addition, if the borrower is financing their first mortgage through a conventional loan,
the borrower qualifies for a $1,500 Affordable Closing Cost Grant. There is no lien or
monthly repayment since it is a grant. If borrower is not under the Affordable DAP
income limits, then proceed to Regular DAP.

2. Check to see if the applicant(s) income falls below the Secondary Market Limits.
If yes the borrower is eligible for Regular DAP up to $6,000. Regular DAP is amortized
over 10 years at 5.50%. Borrower must qualify with second mortgage payment


if you have questions about qualifying as first time home buyer in Kentucky, please call, text, email or fill out free prequalification below for your next mortgage loan pre-approval.
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Posted By Blogger to Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage at 5/01/2017 08:02:00 AM
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Kentucky First Time Home Buyer Mortgage Loans: HomePath listings in Jefferson County, Kentucky 20...

Kentucky First Time Home Buyer Mortgage Loans: HomePath listings in Jefferson County, Kentucky 20...:  HomePath listings in Jefferson County, Kentucky 2017! Let your clients know these properties are available. Some have special incentiv...



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