KHC recognizes that the down payment, closing costs and pre-paids are stumbling blocks for many potential home buyers. Here are a couple of Down Payment Assistance programs to help.
Regular Down Payment Assistance Programs (DAP)
o Purchase price up to $283,900 with Secondary Markets or $255,500 with MRB
o Assistance in the form of a loan up to $6,000 in $100 increments
o Repayable over a 10-year term at 5.5 percent. DAP of $6,000 over 10-years at 5.5% would equal a payment of $65.12
o Available to all KHC first-mortgage loan recipients
Affordable Down Payment Assistance Programs (DAP)
o Purchase price up to $238,900 with Secondary Market or $255,500 with MRB
o Assistance up to $4,500
o Repayable over a 10-year term at 1.00%
o Borrowers must meet Affordable DAP household income limits
Specific credit underwriting standards may apply to down payment programs.
Give me a call to find out about more assistance programs: 859-433-4558 or click here to find out about Grant Funds for Down Payment Assistance.
Kentucky Housing Corporation website http://www.kyhousing.org