Friday, March 4, 2016

KHC has $5 million in special funding available at 2.00 percent fixed interest rate for 30 years for Kentucky Home Buyers in 2016

2.00 percent fixed interest rate for 30 years for Kentucky Home Buyers in 2016 from KY Housing


 
KHC has $5 million in special funding available at 2.00 percent fixed interest rate for 30 years. The Mortgage Revenue Bond (MRB) Special Funding Program is available on a first-come, first-served basis, with reservations available on Monday, March 7, 2016. New reservations only. 
Who can qualify for this deal?
  • Households that do not exceed $35,000 gross annual income, and meet ONE of the following:
    • At least one home buyer is 62 years old or older.
    • At least one member is disabled and is receiving disability income.
    • A single- or two-parent household with at least one dependent child under the age of 18 living in the home.
Special Funding qualifications included:
  • Must be a first-time home buyer, unless property in targeted county.
  • Existing and new construction (purchase price limit of $115,000).
  • Regular and Affordable Down payment Assistance Program available.
  • 640 minimum credit score.
  • FHA, VA, and RHS first mortgage options.




 


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