khc

Kentucky FHA Loan Requirements for 2017

Louisville Kentucky Mortgage $100 down FHA program, 2017 FHA Loan Limits KY, 500 credit score FHA loan, 580 credit score FHA, Appraisers FHA, back to work program FHA KY, Bankruptcy, cash deposits, Collections Accounts, credit scores, credit scores FHA loan, Credit Scores/Credit Reports, debt to income ratios, Down payment assistance, down payment grant, employment, Employment Gaps, Fannie Mae Homepath, FHA, FHA Back to Work Program Ky, fha mortgage insurance premiums, FHA Mortgage Limits Ky 2011, FHA Mortgage Loan Limits for Kentucky (KY) 2011, FHA Streamline Refinance, fico score, fico scores FHA loan, first time buyer, first time buyer kentucky, First Time Home Buyer, foreclosure, Frequently Asked Questions, Gift funds, Grants And Down payment Assistance, Home Mortgage Rates Ky, Homeownership Assistance Programs: Kentucky, HUD HOMES $100 Down, HUD REO PROPERTIES ELIGIBLE FOR THE $100 DOWN PAYMENT, job changes fha, job time, Kentucky FHA HUD Homes for $100 Down, Kentucky FHA Important Links, Kentucky Housing, Kentucky HUD $100 Down FHA Program for 2017, Kentucky Mortgage Interest Rates, Kentucky Real Estate and Kentucky Appraisal Links, Kentucky State Mortgage Rates, khc, KY FHA LOANS, Loan Limits for FHA, louisville ky fha seller contributions, Louisville Ky Home Loans, mi changes for FHA, Rates Today, Refinance, Refinance Streamline, short sales , , , , , , , , , , , , , , , , , , , ,

Kentucky HUD $100 Down FHA Program for 2017

fsdfdsfdsfsdfsdfsdf

Kentucky FHA Loan Requirements

The requirements for Kentucky FHA loans are set by HUD.

  • Borrowers must have a steady employment history of the last two years within the same industry or line of work. Recent college graduates can use their transcripts to supplant the 2 year work history rule as long as it makes sense.
  • Self-Employed will need a 2 year history of tax returns filed with IRS. They will take a 2 year average.
  • FHA requires a 3.5% down payment. Can be gifted from family member or from retirement savings plan, or money saved-up. Any type of cash deposits are not allowed for down payments. No exceptions to this rule!! This is one of the biggest issues I see in FHA underwriting nowadays.
  •  FHA loans are  for primary residence occupancy. Not rental houses.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 43 percent. If the Automated Underwriting System gives you an Approved Eligible you can go higher on the debt ratios
  • Borrowers must have a minimum credit score of 580 for maximum financing with a 3.5% down payment
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent. Most lenders will not go below 620 score, and very few lenders will go to 580 score. It’s best to work on getting your scores up before you apply or work with a loan officer to improve them.
  • 2 years removed from Chapter 7 is required with good pay history after bankruptcy
  • 1 year removed from Chapter 13 is okay with an excellent pay history with the Chapter 13 plan and permission from trustee. You will need to qualify with the Chapter 13 payment along with new house payment. Again, scores will play into your loan pre-approval.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit. If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three-year foreclosure guideline.
  • Max FHA loan in Kentucky is between $275,000 to $299,000 depending on the county in Kentucky
    I can answer your questions and usually get you pre-approved the same day.

hud-100-incentive-program-fha-home-loan-group-1

  • Call or Text me at 502-905-3708 with your mortgage questions.
    Email Kentuckyloan@gmail.com
    1 | 2 | 3 | 4 | 5 |

    Search Results for HUD Homes in KY
    1 | 2 | 3 | 4 | 5 |
    96 listings found
    List Gallery
    		Save Search Email Search View Map Export to Display:
    5
    10
    20
    1 | 2 | 3 | 4 | 5 |
    To View HUD Homes Available For Auction Please Click Here.
    • Recent Listings (2)
    • Recent Searches (3)
    Search Properties
    *State County City Zip Code Street Price From    –   To Bedrooms Bathrooms
    Select
    AK
    AL
    AR
    AS
    AZ
    CA
    CO
    CT
    DC
    DE
    FL
    GA
    GU
    HI
    IA
    ID
    IL
    IN
    KS
    KY
    LA
    MA
    MD
    ME
    MI
    MN
    MO
    MP
    MS
    MT
    NC
    ND
    NE
    NH
    NJ
    NM
    NV
    NY
    OH
    OK
    OR
    PA
    PR
    RI
    SC
    SD
    TN
    TX
    UT
    VA
    VI
    VT
    WA
    WI
    WV
    WY     		Any
    1+
    2+
    3+
    4+
    5+     		Any
    1+
    2+
    3+
    4+
    5+
    Buyer Type All
    Owner Occupant
    Investor
    Good Neighbor Next Door
    Government Agency
    Nonprofit
    Dollar Homes     		Status All
    Accepting Bids
    New Listing
    Price Reduced
    Pending Bid Opening
    Showcase     		Property Case #
    Search Clear
    Advanced Search
    *Required field, except if Property Case # or Zip Code is entered

    Search Results for HUD Homes in KY
    1 | 2 | 3 | 4 | 5 |
    96 listings found
    List Gallery
    		Save Search Email Search View Map Export to Display:
    5
    10
    20
    Joel Lobb
    Senior  Loan Officer
    (NMLS#57916)
    text or call my phone: (502) 905-3708
    email me at kentuckyloan@gmail.com
    The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
    All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
    Posted by at 1:40 PM

22 New Fannie Mae Homes in Kentucky

Louisville Kentucky Mortgage Appraisers FHA, Fannie Mae Homepath, FHA, FHA Back to Work Program Ky, FHA Streamline Refinance, first time buyer, first time buyer kentucky, First Time Home Buyer, foreclosure, Home Mortgage Rates Ky, Homeownership Assistance Programs: Kentucky, HomePath, HUD HOMES $100 Down, HUD REO PROPERTIES ELIGIBLE FOR THE $100 DOWN PAYMENT, Kentucky FHA HUD Homes for $100 Down, Kentucky FHA Important Links, Kentucky Housing, Kentucky Mortgage Interest Rates, Kentucky Real Estate and Kentucky Appraisal Links, Kentucky State Mortgage Rates, khc, KY FHA LOANS, louisville ky fha seller contributions, Louisville Ky Home Loans, Refinance, student loan guidelines for FHA , , , , , , , , , , , , , , , , ,

You have subscribed to receive alerts in Kentucky.

 

$25,000Just Listed

3801 Herd Elias Rd
Tyner, KY 40486

3 Beds |2 Baths | 1634 sq. ft.

View Property

 

$79,900Back on Market

36 Sweetbriar Ave
Florence, KY 41042

3 Beds |1 Baths | 1288 sq. ft.

View Property

 

$40,000Back on Market

2204 Parkwood Rd
Louisville, KY 40214

2 Beds |1 Baths | 624 sq. ft.

View Property

 

$55,000Price Reduced

504 5th Ave
Frankfort, KY 40601

3 Beds |1 Baths | 1056 sq. ft.

View Property

 

$108,900Price Reduced

1927 Brooklyn Chapel Rd
Morgantown, KY 42261

3 Beds |2 Baths | 2097 sq. ft.

View Property

 

$288,900Price Reduced

7154 Thornwood Ln
Florence, KY 41042

4 Beds |3 Baths | 2776 sq. ft.

View Property

 

$64,900Price Reduced

517 Washington Ave
Paintsville, KY 41240

3 Beds |2 Baths | 2242 sq. ft.

View Property

 

$135,500Price Reduced

136 W Main St
Mount Sterling, KY 40353

5 Beds |2 Baths | 3641 sq. ft.

View Property

 

$42,900Price Reduced

147 Williams Branch
Hazard, KY 41701

3 Beds |2 Baths

View Property

 

$39,900Price Reduced

158 Baker Ave
Hazard, KY 41701

3 Beds |2 Baths | 2416 sq. ft.

View Property

 

$19,000Price Reduced

1229 Hermes Ave
Covington, KY 41011

1 Beds |1 Baths

View Property

 

$79,000Price Reduced

2116 Quillman Rd
Louisville, KY 40214

4 Beds |1 Baths | 1440 sq. ft.

View Property

KHC Loan Programs

Louisville Kentucky Mortgage first time buyer, First Time Home Buyer, Kentucky Housing, khc, KY FHA LOANS , , , , , , ,

KHC Loan Programs.

via KHC Loan Programs.

 

KHC’s First Mortgage Loan Products
Federal Housing Administration (FHA)
•Minimum 640 credit score required.
•Financing to 96.50% of lesser of sales price or appraised value.
•All KHC DAPs and other KHC-approved secondary financing may be used.
•Maximum 6% seller-paid items.
•Maximum ratios of 40/45 with AUS approval.
•FHA’s Appraiser Independence rules apply. (see page 4)
•All borrowers must be scored by TOTAL and receive approve/eligible or accept/accept.
•Lender must follow the FHA maximum mortgage limits for particular area – see
Upfront and Annual Mortgage Insurance Premiums
30-Year Loan Term
LTV less than or equal to 95% 1.75% annual 1.20 monthly
LTV greater than 95% 1.75% annual 1.25 monthly
Conventional
• Minimum 660 credit score required
• Maximum loan-to-value (LTV) ratio is 80%.
• Maximum ratios 40/45 with AUS approval.
• No down payment assistance products may be used. Borrower must meet down payment requirements with their own
funds or a gift.
• Federal Home Loan Bank monies allowed once borrower meets the 20% down payment requirement. Must be entered as
subordinate financing in DU/LP.
• Pre-purchase education required as per AUS findings.
• Not available for manufactured housing.
• Appraiser Independence required (see page 4).
• KHC does not presently have a product for 81% LTV or greater.
Rural Housing Services (RHS)
•
 Minimum 640 credit score required.
• Financing to 100% of the appraised value, plus guarantee fee of 2.0%/0.3% annual fee.
• All KHC DAP programs and other KHC-approved secondary financing may be used.
• No maximum on seller-paid items.
• Ratio requirements and guarantee fee per agency guidelines.
• KHC will accept Government Underwriting System (GUS) findings, including reduced documentation and, with
approval, expanded ratios up to 40/45.
Veteran’s Administration (VA)
•Minimum 640 credit score required.
•Financing to 100% of the lesser of the appraised value or sale price.
•All KHC DAP programs and other KHC-approved secondary financing may be used.
•Maximum 4% seller-paid items.
•Ratio requirements and funding fee per agency guidelines
•Maximum ratios of 40/45% with AUS Approval

 

Related Articles

Kentucky Housing first mortgage loans guidelines for 2013

Louisville Kentucky Mortgage 2013 FHA guidelines updated, 2013 First time home buyer loans in Kentucky, FHA Guidelines, Grants And Down payment Assistance, khc, KY FHA LOANS , , , , , , , , , , , , , , ,

Kentucky Housing first mortgage loans guidelines for 2013.

via Kentucky Housing first mortgage loans guidelines for 2013.

 

4 DIFFERENT LOAN PROGRAMS FOR FIRST TIME BUYER PROGRAMS FOR JEFFERSON COUNTY KY
  

Conventional

  • Minimum credit score of 680 or better.
  • Quick turnaround time, 20 percent down payment and no up-front or monthly mortgage insurance.

FHA

  • Insured by the Federal Housing Administration.
  • Down payments as little as 3.5 percent.
  • Can use DAP for 3.5 percent down payment requirement.
  • Upfront and monthly mortgage insurance.
  • Minimum credit score of 640.

VA

  • Guaranteed by the Veterans Administration for qualified military veterans.
  • No down payment if the property appraises for the sale price or greater.
  • Credit underwriting is flexible.
  • Minimum credit score of 640.
  • No monthly mortgage insurance payments.

RHS

  • Guaranteed by Rural Housing Services (RHS).
  • Home must be located in a rural area as defined by RHS.
  • No down payment if the property appraises for the sale price or greater.
  • Upfront and monthly mortgage insurance.
  • Minimum credit score of 640.
 
If you don’t mind, go ahead and get the following things together and I will see what you how much qualify for on a home.
This is a free process, in case you were wondering. 
The following is a list of documents that may be required to process your  mortgage loan:
·        One full month’s worth of pay stubs
·        Last 2 years W-2’s
·        Last 2 years tax returns 
·        Last two months bank statements for all asset accounts
  

You can fax or email the above documents to me and I will get you pre-approved for free and supply you a copy of your credit report for free.
Let me know your thoughts and questions.
Looking forward to working with you.
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

KHC Loan Programs

Louisville Kentucky Mortgage Down payment assistance, FHA, first time buyer, First Time Home Buyer, Grants And Down payment Assistance, Kentucky Housing, khc , , , , , , , , , , , , , ,

KHC Loan Programs.

Bookmark and Share

MRB

  • All MRB Kentucky Housing first mortgage loans are for a 30-year term at a fixed rate of interest.
  • The home you purchase through Kentucky Housing must be the only residential property you own and you must occupy the home as your principal residence while the loan debt is still outstanding.
  • To qualify, you must meet KHC’s regular MRB income guidelines, make a down payment or qualify for down payment assistance, be a US citizen or legal alien and have an acceptable credit history.
  • Some MRB KHC loans are subject to a federal recapture tax. Recapture is a federal income tax that the borrowers may have to pay if they have considerable growth in their income and they sell or transfer their KHC-financed home within 9 years.  However, KHC has implemented a Recapture Tax Guarantee Program for all loans that close after October 1, 2006.  The Recapture Tax Guarantee Program will reimburse homeowners if they are subject to pay the Federal Recapture Tax on their KHC mortgage loan upon the sale of their home.

Conventional

  • Insured by approved mortgage insurance company.
  • Minimum credit score of 660 or better.
  • Quick turnaround time, 20 percent down payment and no up-front or monthly mortgage insurance.

FHA

  • Insured by the Federal Housing Administration.
  • Down payments as little as 3.5 percent.
  • Can use DAP for 3.5 percent down payment requirement.
  • Upfront and monthly mortgage insurance.
  • Minimum credit score of 640.

VA

  • Guaranteed by the Veterans Administration for qualified military veterans.
  • No down payment if the property appraises for the sale price or greater.
  • Credit underwriting is flexible.
  • Minimum credit score of 640.
  • No monthly mortgage insurance payments.

RHS

  • Guaranteed by Rural Housing Services (RHS).
  • Home must be located in a rural area as defined by RHS.
  • No down payment if the property appraises for the sale price or greater.
  • Minimum credit score of 640.

GNMA Secondary Market

  • All GNMA KHC first mortgage loans are for a 30-year term at a fixed rate of interest.
  • The home you purchase through KHC must be occupied as your principle residence while the loan debt is outstanding.
  • To qualify, you must meet KHC’s GNMA income guidelines, make a down payment, or qualify for down payment assistance, be a U.S. citizen or legal alien and have an acceptable credit history.

FHA

  • Insured by the Federal Housing Administration.
  • Down payments as little as 3.5 percent.
  • Can use DAP for 3.5 percent down payment requirement.
  • Upfront and monthly mortgage insurance.
  • Minimum credit score of 640.

VA

  • Guaranteed by the Veterans Administration for qualified military veterans.
  • No down payment if the property appraises for the sale price or greater.
  • Credit underwriting is flexible.
  • Minimum credit score of 640.
  • No monthly mortgage insurance payments.

RHS

  • Guaranteed by Rural Housing Services (RHS).
  • Home must be located in a rural area as defined by RHS.
  • No down payment if the property appraises for the sale price or greater.
  • Minimum credit score of 640.

Two FHA Refinance Options

  • 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 640

Home Buyer Tax Credit

KHC’s Home Buyer Tax Credit is available through Mortgage Credit Certificates (MCC), which reduce the amount of federal income tax you pay, giving you more available income to qualify for a mortgage loan.  MCCs are NOT mortgages.  They are tax credits that put extra cash in your pocket each month, so you can more easily afford a house payment.  That means fewer tax dollars will be withheld from your regular paycheck, increasing your take-home pay.  The federal government allows every homeowner an income tax deduction for all the interest paid each year on a mortgage loan.  But an MCC gives you a tax credit of 25 percent (not to exceed $2,000).  You can still deduct the remaining 75 percent interest on your income taxes.  A tax credit is not the same as a tax deduction.  A tax deduction reduces the portion of your income that is taxed, so you pay less.  A tax credit is a direct, dollar for dollar reduction in the total tax you owe.  The MCC is effective for the life of the loan as long as you live in the home.  If you sell your home in the first nine years of ownership, you may be subject to Federal Recapture Tax.  One-time fee of $500 or reduced to $200 if through KHC’s GNMA Secondary Market First Mortgage Program.  Not valid with MRB loan programs.

Special First Mortgage Loan Programs

The Lottery for Special Funding is opened once a year.  The funds are allocated for persons meeting income and all MRB Guidelines.  These limited funds are available, usually in July, on a first-come, first-served basis.

Guidelines

  • Must be a first time home buyer, unless property is located in a targeted county.
  • Interest rate fixed at 3.00 percent based on minimum ratios 29/41 percent.
  • Gross Annual Household Income guidelines:
    • $28,000 for a household of 1 or 2 people; or
    • $33,000 for a household of 3 or more people.
  • All household occupants (18 years and older) with income must be included on loan and be credit ready.
  • Must use all but two months’ reserves of borrower’s own funds.
  • Existing or new construction property with a purchase price limit of $115,000
  • Zero Point Rate
  • Only FHA, VA and RHS – 640 credit score and AUS Approval
  • 60 Day Lock
  • Kentucky Housing’s Regular and HOME DAP loan program may be used for down payment and closing cost assistance.

Applying for a Kentucky Housing loan is easy. Just contact one of our approved lenders near you and ask for a Kentucky Housing loan.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Down Payment Assistance Programs in Kentucky

Louisville Kentucky Mortgage 2017 FHA Loan Limits KY, 500 credit score FHA loan, 580 credit score FHA, 620 credit score FHA loan, Down payment assistance, down payment grant, FHA Guidelines, first time buyer kentucky, Gift funds, Good Neighbor Next Door Sales Program, Grants And Down payment Assistance, Home Mortgage Rates Ky, Homeownership Assistance Programs: Kentucky, HUD HOMES $100 Down, Kentucky FHA HUD Homes for $100 Down, Kentucky Housing, Kentucky HUD $100 Down FHA Program for 2017, Kentucky Mortgage Interest Rates, khc, khc down payment assistance, KY FHA LOANS , , , , , , , , , , , , , , ,

Down Payment Assistance Programs in Kentucky

Kentucky First Time Homebuyer Down Payment Assistance for Kentucky First Time Home Buyers for $4500 to $6000 from Kentucky Housing DAP Funds

Kentucky Housing Corp. will raise the gross annual income to $40,000 and the Purchase Price to $130,000! That is a 2% fixed Rate for 30 yrs for Kentucky Home Buyers using the KHC Program.

Regular DAP

  • Purchase price up to $283,900 with Secondary Market or $255,500 with MRB.
  • 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 $283,900 with Secondary Market or $255,500 with MRB.
  • Assistance up to $4,500.
  • Repayable over a ten-year term at 1.00 percent.
  • Borrowers must meet Affordable DAP household income limits

MRB Special Funding Program 


KHC has $5 million available at 2 percent interest rate, fixed for 30 years. This special funding program is available on a first-come, first-served basis starting today, Wednesday, March 8, 2017, with new reservations. 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) in a county not receiving HHF DAP funds*.
  • 640 minimum credit score.
  • FHA, VA, or RHS first mortgage options.
  • Households who meet one of the following criteria:
    • At least one of the home buyers is age 62 or older.
    • At least one member of the household is disabled and receiving disability income.
    • A single-or two parent household with at least one dependent child under the age of 18 living in the household.


http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu
 
Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916 http://www.nmlsconsumeraccess.org/
 
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.
 
 
 2 percent interest rate, fixed for 30 years
Posted by at 1:42:00 PM

Reactions: https://www.blogger.com/blog-post-reactions.g?options=%5Bfunny,+interesting,+cool%5D&textColor=%23333333#http://zerodownkentuckymortgae.blogspot.com/2017/03/down-payment-assistance-programs-daps.html

Labels: , , ,

 

 

 

 

 

 

By Timothy Bodamer , eHow Contributor

  1. in Kentucky with down payment assistance programs.

    • In the Bluegrass State of Kentucky, there are a variety of programs to financially assist potential homeowners. These programs are based on a variety of criteria, including income and demographics. Kentucky residents can use these programs to fulfill the American dream for their family.

    American Dream Downpayment Initiative

    • The American Dream Downpayment Initiative is provided in Kentucky to help potential homeowners with down payments and closing costs. The ADDI is provided to first-time homeowners who make less than 80 percent of the median income of the area in Kentucky. Up to $10,000 or 6 percent of the purchase price (whichever is greater), can be used for down payments, closing costs and rehabilitation efforts to fix up the purchased home. Repairs must be completed within one year of the home purchase.

      U.S. Department of Housing and Urban Development
      451 7th Street S.W.
      Washington, DC 20410
      202-708-1112
      hud.gov

    REACH Kentucky

    • REACH Kentucky is a down payment program used for new or existing homes. The REACH program offers loans that serve as a second mortgage repayable at zero to 2 percent. The home buyer must be the primary resident. Clients must meet low to moderate income standards. This income varies from county to county. To qualify, the first-time homeowners must complete a home buyer education course and provide $500 of their own money.

      REACH Inc.
      733 Red Mile Rd.
      Lexington, KY 40504
      859-455-8057
      reachky.com

    The Kentucky Housing Corporation

    • The Kentucky Housing Corporation was founded in 1972 as part of the Commonwealth of Kentucky‘s Finance and Administration Cabinet. Kentucky Housing provides down payment and closing cost assistance to Kentucky residents. The regular down payment assistance plan is available to all potential homeowners who reside in Kentucky. The program provides up to $2,500 in $100 increments. This loan is repayable over five years at 6 percent interest. Other down payment options are available for low-income residents. Down payment assistance is available up to $10,000 and is forgiven after the home buyer stays in the home for five years. This assistance is provided based on income guidelines. These guidelines are based on a county-by-county basis.

      The Kentucky Housing Corporation
      1231 Louisville Rd.
      Frankfort, Kentucky 40601
      502-564-7630 ext. 291
      kyhousing.org

Read more: Down Payment Assistance Programs in Kentucky | eHow.com http://www.ehow.com/list_6518335_down-payment-assistance-programs-kentucky.html#ixzz1O1jSel5B