Friday, January 3, 2014

Kentucky Housing Corporations KHC First Time Home Buyers Down Payment Assistance Zero Down Options for 2014


KHC First Time Home Buyers Down Payment Assistance Zero Down

Kentucky Housing Corporation (KHC) still has $4 million in Mortgage Revenue Bond (MRB) Special Funding available!  This funding is limited and available on a first-come, first-served basis.  

Effective with reservations on or after Monday, January 6, 2014, all households below $35,000 gross annual household income will qualify for the MRB Special Funding interest rates. The rate with DAP will be lowered and the requirement to demonstrate a need by having at least a 25% front ratio has been eliminated. 

Program guidelines:
  • First-time home buyers, unless property is located in a targeted county.
  • Interest rate is fixed at 2.5 percent without Down payment Assistance Program (DAP) or 2.75 percent with DAP.
  • Maximum ratios 40/45%.
  • Executed purchase contract.
  • Existing or new construction property (purchase price limit $115,000).
  • Regular and Affordable DAP available.
  • FHA, VA, and RHS first-mortgage programs.
  • 640 credit score and AUS approval.
  • Gross annual household income limit of $35,000 for all household sizes.
  • Follow the 45-day lock with current reservation extension policy.

  • The lower interest rate is not guaranteed until the lender receives the updated reservation confirmation.


 Appy below for free for this program or call me below with your questions. 


joel lobb
Louisville Mortgage Group
License:  NMLS# 57916
I specialize in Kentucky FHA, VA, USDA, KHC, Jumbo and Fannie Mae mortgage loans in Ky. I have helped over 589 Kentucky families buy their first home and refinance their current mortgage for a lower rate; For the first time buyer with little money ...view more
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