Showing posts with label Down Payment Assistance Program - Housing - Louisville Ky. Show all posts
Showing posts with label Down Payment Assistance Program - Housing - Louisville Ky. Show all posts

KHC's Down payment Assistance Program (DAP)

Down Payment Assistance Programs in Kentucky



For Kentucky First Time Home Buyers to current Kentucky 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. 

Kentucky Down Payment Assistance programs  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 Kentucky home 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


KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. We offer a special loan program to help with those. Your KHC-approved lender can help you apply.

Regular DAP

  • Purchase price up to $481,176 with Secondary Market​ or Mortgage Revenue Bond (MRB) income limits.
  • Assistance in the form of a loan up to $10,000 in $100 increments.
  • Repayable over a 10-year term at 3.75 percent.
  • Available to all KHC first-mortgage loan recipients.

​​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.​

​Secondary Market Eligibility

To qualify for a Secondary Market KHC loan, you must meet the following requirements:

  • Meet Secondary Mark​et Income​ Limits for your county.
  • Be a U.S. citizen, other national or qualified alien person
  • Have a minimum credit score of 620.
  • Be a first-time or repeat homebuyer.

Property Eligibility

The home you wish to purchase must meet the following guidelines.

  • Borrower must occupy the home within 60 days of closing and for duration of loan.
  • New or previously occupied detached, single-family home.
  • New or previously occupied condominium, townhouse, or attached unit in a planned unit development.
    • Check with lender for eligible condominiums.
  • New or previously occupied manufactured housing, single or double wide, permanently affixed to the foundation and taxed as real estate
    • ​Must meet loan type's foundation requirements.
  • ​The property purchased must be in Kentucky.​









I hope this gives you some useful input to help guide your decision making. Give me a call if you have more specific questions! Thanks so much 

Sincerely,





Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916

American Mortgage Solutions, Inc.
10602 Timberwood Circle 
Louisville, KY 40223

Company NMLS ID #1364

Text/call:      502-905-3708
fax:            502-327-9119
email:
          kentuckyloan@gmail.com

HUD Approved Housing Counseling Agencies for Kentucky Home Buyers



HUD Approved Housing Counseling Agencies for Kentucky Home buyers
Agencies located in KENTUCKY

Agency Name Phone, Toll-Free,
Fax Number,
Email, Website Address Counseling Services Languages Parent Organization
KENTUCKY COMMUNITIES ECONOMIC OPPORTUNITY COUNCIL, INC. (KCEOC) Phone: 606-546-3152
Fax: 606-546-5057
E-mail: dcornelius@kceoc.com 5448 N. U.S. 25E, Ste.A
PO Box 490
Barbourville, Kentucky 40906 - Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
BOWLING GREEN HUMAN RIGHTS COMMISSION Phone: 270-782-7900
Fax: 270-782-6997
E-mail: bghrc1@aol.com
Website:www.bgky.org/humanrights.htm 491 Double Springs Road
BOWLING GREEN, Kentucky 42101-5185 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Predatory Lending Education Workshops
- Services for Homeless Counseling - English
- Spanish
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com 1725 Ashley Circle, Ste 107
BOWLING GREEN, Kentucky 42104-5811 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
HOUSING ASSISTANCE AND DEVELOPMENT SERVICES, INC. Phone: 270-796-4176
Fax: 270-796-8203
E-mail: hands@handsinc.net
Website: www.handsinc.net 1133 Adams Street
BOWLING GREEN, Kentucky 42101-2603 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
KENTUCKY LEGAL AID Phone: 270-782-1924
E-mail: N/A
Website: www.klaid.org 1700 Destiny Ln
BOWLING GREEN, Kentucky 42104-1063 - Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Rental Housing Counseling
- Services for Homeless Counseling - English
- Spanish WEST TENNESSEE LEGAL SERVICES, INCORPORATED
LIVE THE DREAM DEVELOPMENT, INC Phone: 270-843-6071-7124
Fax: 270-781-7091
E-mail: eholley@habg.org 247 Double Springs Road
BOWLING GREEN, Kentucky 42101-5160 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops - English
CAMPBELLSVILLE HOUSING AND REDEVELOPMENT AUTHORITY Phone: 270-465-3576-236
Fax: 270-465-2444
E-mail: jhall@campbellsvillehousing.com
Website: www.cvillehousingonline.com 400 Ingram Ave
PO Box 597
CAMPBELLSVILLE, Kentucky 42718-1627 - Financial Management/Budget Counseling
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Rental Housing Counseling - English
CATHOLIC CHARITIES, DIOCESE OF COVINGTON Phone: 859-581-8974
Fax: 859-581-9595
E-mail: info@covingtoncharities.org
Website: www.covingtoncharities.org 3629 Church St
COVINGTON, Kentucky 41015-1430 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
- Spanish CATHOLIC CHARITIES USA
LEGAL AID OF THE BLUEGRASS Phone: 859-957-0189
Toll-free: 800-274-5863
Fax: 606-783-1342
E-mail: bcombs@lablaw.org
Website: www.lablaw.org 104 East 7th Street
COVINGTON, Kentucky 41011-2502 - Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
- Spanish WEST TENNESSEE LEGAL SERVICES, INCORPORATED
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com/home.asp 950 North Mulberry
Suite 220F
ELIZABETHTOWN, Kentucky 42701-3612 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com/home.asp 11 Shelby Street
FLORENCE, Kentucky 41042-1612 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com 649 Charity Court
#15
FRANKFORT, Kentucky 40601-4223 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
KENTUCKY DOMESTIC VIOLENCE ASSOCIATION Phone: 502-209-5382-502
Toll-free: 502-209-5382
Fax: 502-226-5382
E-mail: modoherty@kdva.org
Website: kdva.org 111 Darby Shire Circle
FRANKFORT, Kentucky 40601-2741 - Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
KENTUCKY HOUSING CORPORATION Phone: 502-564-7630-775
Toll-free: 800-633-8896
Fax: 502-564-5657
E-mail: shillard@kyhousing.org
Website: www.kyhousing.org 1231 Louisville Rd.
FRANKFORT, Kentucky 40601-6156 - Fair Housing Pre-Purchase Education Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops - English
- Spanish
KCEOC COMMUNITY ACTION PARTNERSHIP, INC. Phone: 606-546-3152-300
Fax: 606-546-5057
E-mail: jsmith@kceoc.com
Website: www.povertyisreal.com 5448 N US 25 E, Suite A
GRAY, Kentucky 40734-6582 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Financial, Budgeting and Credit Repair Workshops
- Home Improvement and Rehabilitation Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Rental Housing Workshops
- Resolving/Preventing Mortgage Delinquency Workshops
- Services for Homeless Counseling - English
LESLIE, KNOTT, LETCHER, PERRY COMMUNITY ACTION CENTER Phone: 606-436-3161-180
Toll-free: 800-401-4287
Fax: 606-439-1157
E-mail: a.thompson@lklp.net
Website: www.lklp.org 98 Roy Campbell
HAZARD, Kentucky 41701-9444 - Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
BARRET CENTER, INC Phone: 270-827-1486-114
Fax: 270-826-8673
E-mail: susangay@hahenderson.net 111 S Adams Street
HENDERSON, Kentucky 42420-3611 - Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 866-452-9243
Fax: 270-782-5740
E-mail: scrocker@klaid.org
Website: www.klaid.org 1411 South Main Street
HOPKINSVILLE, Kentucky 42240-2017 - Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Rental Housing Counseling - English KENTUCKY LEGAL AID
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com/home.asp 2265 Harrodsburg Road
Stuite. 303
LEXINGTON, Kentucky 40504-3500 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
COMMUNITY VENTURES CORPORATION Phone: 859-231-0054
E-mail: dmajor@cvcky.org
Website: www.asite.com 1450 N Broadway
Lexington, Kentucky 40505-3162 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Home Improvement and Rehabilitation Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling - Arabic
- Cambodian
- English NEIGHBORHOOD REINVESTMENT CORPORATION
REACH, INC. Phone: 859-455-8057
Fax: 859-455-7436
E-mail: kjones@reachky.com
Website: www.reachky.com 733 Red Mile Rd
Lexington, Kentucky 40504+1153 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English
- Spanish
ROAD TO HOMEOWNERSHIP, INC. Phone: 502-647-3027
Fax: 502-647-3099
E-mail:ybradford@theroadleadinghome.org 121 Prosterous Place Ste A
LEXINGTON, Kentucky 40509-1800 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com 2100 Gardiner Lane Ste 103A
LOUISVILLE, Kentucky 40205-2900 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@apprisen.com
Website: www.apprisen.com 11492 Bluegrass Parkway
Suite 110
LOUISVILLE, Kentucky 40299-2334 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
HOUSING FOUNDATION Phone: 270-965-2233
Toll-free: 866-965-2239
Fax: 775-213-7867
E-mail: myhomeky@bellsouth.net
Website: www.myhomeky.org 330 North Hubbards Lane Office #4
LOUISVILLE, Kentucky 40207-2396 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
LEGAL AID SOCIETY, INC. Phone: 502-584-1254
Fax: 502-584-8014
E-mail: spope@laslou.org 416 West Muhammad Ali Blvd., Suite 300
LOUISVILLE, Kentucky 40202-3376 - Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
- French
- Hindi
- Other
- Spanish WEST TENNESSEE LEGAL SERVICES, INCORPORATED
LOUISVILLE CENTRAL COMMUNITY CENTER Phone: 502-583-8821
Fax: 502-583-8824
E-mail: rclay@lcccnews.org 1300 W. Muhammad Ali Blvd
LOUISVILLE, Kentucky 40203-1744 - Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
LOUISVILLE URBAN LEAGUE Phone: 502-566-3362
Fax: 502-568-4663
E-mail: cmccravy@lul.org
Website: www.lul.org 1535 West Broadway
LOUISVILLE, Kentucky 40203-3515 - Fair Housing Pre-Purchase Education Workshops
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English NATIONAL URBAN LEAGUE
NID-HCA SICKLES Phone: 502-810-9200
Fax: 502-966-6040
E-mail: nidhca.sickles@gmail.com
Website: www.nidonline.org & www.makingyourhomeaffordable.org 3215 Fern Valley Road, Suite #106
LOUISVILLE, Kentucky 40213-3563 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Home Improvement and Rehabilitation Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
- Spanish NATIONAL ASSOCIATION OF REAL ESTATE BROKERS-INVESTMENT DIVISION, INC
THE HOUSING PARTNERSHIP, INC Phone: 502-585-5451
E-mail: lwood@wearehpi.org
Website: www.asite.com 321 Guthrie Grn
LOUISVILLE, Kentucky 40202-1813 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling - English
- Spanish HOUSING PARTNERSHIP NETWORK
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 800-782-1924
Fax: 270-825-0689
E-mail: scrocker@klaid.org
Website: www.klaid.org 100 South Railroad Street, # 120
MADISONVILLE, Kentucky 42431-2467 - Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Rental Housing Counseling - English KENTUCKY LEGAL AID
DANIEL BOONE DEVELOPMENT COUNCIL Phone: 606-598-5127
Fax: 606-599-9712
E-mail:marthanna.dobson@danielboonecaa.org
Website: none 1535 Shamrock Road
MANCHESTER, Kentucky 40962-9201 - Pre-purchase Counseling - English KENTUCKY HOUSING CORPORATION
PURCHASE AREA HOUSING CORPORATION Phone: 270-247-7171
Fax: 270-251-6110
E-mail:David.Hargrove@purchaseadd.org
Website: www.purchaseadd.org 1002 Medical Dr
MAYFIELD, Kentucky 42066-1184 - Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
BRIGHTON CENTER, INCORPORATED Phone: 859-491-8303
E-mail: brighton@brightoncenter.com
Website: brightoncenter.com 799 Ann ST
NEWPORT, Kentucky 41071-1218 - Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Rental Housing Counseling - English
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 866-452-9243
Fax: 270-683-3513
E-mail: jmorre@klaid.org
Website: www.klaid.org 117 West 2nd Street
OWENSBORO, Kentucky 42303-4112 - Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Rental Housing Counseling - English
- Spanish KENTUCKY LEGAL AID
CLEARPOINT FINANCIAL SOLUTIONS, INC. Phone: 877-877-1995
Toll-free: 877-877-1995
E-mail:customer.service@clearpointccs.org
Website: www.clearpointccs.org 118 Bleich Rd
C-Plant Credit Union Building
-
-
PADUCAH, Kentucky 42003-8703 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling - ASL
- English
- Spanish CLEARPOINT FINANCIAL SOLUTIONS, INC.
KENTUCKY LEGAL AID, INCORPORATED Phone: 270-782-5740
Toll-free: 866-452-9243
Fax: 270-782-5740
E-mail: jmorre@klaid.org
Website: www.klaid.org 1122 Jefferson Street
PADUCAH, Kentucky 42001-1836 - Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Rental Housing Counseling - English KENTUCKY LEGAL AID
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@cccservices.com
Website:www.cccservices.com/home.asp 317 Main Street
PIKEVILLE, Kentucky 41501-1135 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
BELL-WHITLEY COMMUNITY ACTION AGENCY, INC. Phone: 606-337-3044
Fax: 606-337-1439
E-mail: normancornelius@bell-whitley.org
Website: bell-whitley.org 129 Pine St.
PO Box 159
PINEVILLE, Kentucky 40977-1625 - Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
APPALACHIAN RESEARCH AND DEFENSE FUND OF KENTUCKY Phone: 606-886-3876
Toll-free: 800-556-3876
Fax: 606-886-3704
E-mail: dianef@setel.com
Website: www.ardfky.org 120 North Front Avenue
PRESTONSBURG, Kentucky 41653-7832 - Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
- Spanish WEST TENNESSEE LEGAL SERVICES, INCORPORATED
CCCS OF THE MIDWEST Phone: 800-355-2227
Toll-free: 800-355-2227
Fax: 614-552-4800
E-mail: info@cccservices.com
Website: www.cccservices.com 200 E Main St 2nd Floor
RICHMOND, Kentucky 40475-1628 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops - English CCCS OF THE MIDWEST/APPRISEN
HAZEL JOYCE WILEY CAREER AND FINANCIAL LITERACY INSTITUTE, INC Phone: 502-647-3072
Fax: 502-647-3099
E-mail: hjwfinancial@bellsouth.net
Website: www.hjwfinancial.org 330 Main Street
SHELBYVILLE, Kentucky 40065-1026 - Fair Housing Pre-Purchase Education Workshops
- Financial Management/Budget Counseling
- Home Improvement and Rehabilitation Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Non-Delinquency Post Purchase Workshops
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Predatory Lending Education Workshops
- Rental Housing Counseling
- Services for Homeless Counseling - English
- Spanish
POTENTIALS INC Phone: 606-416-5711
E-mail:potentials.scarlette@newwavecomm.net 105 Burdine Street
SOMERSET, Kentucky 42501-2311 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops
- Rental Housing Counseling - English KENTUCKY HOUSING CORPORATION
PEOPLE'S SELF-HELP HOUSING, INC. Phone: 606-796-6333
Fax: 606-796-2606
E-mail: brendapshh@alltel.net 307 KY 59
VANCEBURG, Kentucky 41179-7648 - Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORATION
GATEWAY COMMUNITY SERVICE ORGANIZATION, INC Phone: 606-743-3133
Fax: 606-743-1130
E-mail: debbie.vannorman@gcscap.org 124 College Street
PO Box 367
WEST LIBERTY, Kentucky 41472-1115 - Financial Management/Budget Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Pre-purchase Counseling
- Pre-purchase Homebuyer Education Workshops - English KENTUCKY HOUSING CORPORA


Fill out my form!

Kentucky Housing Corporation (KHC) Down Payment Assistance.

Kentucky Down payment assistance loans are available up to $10,000 for Mortgage



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



  • .​

KENTUCKY HOUSING QUALIFYING CRITERIA FOR DOWN PAYMENT ASSISTANCE

$10,000 available thru KHC for down payment assistance KY



  • What is Kentucky Housing?


    Kentucky Housing is a trusted state agency in Frankfort, KY that works with local lenders to ensure all Kentucky home buyers have access to safe and affordable housing with access to down payment assistance help and counseling if needed to buy a home.
     

    Do I need to be a first-time home buyer to do a KHC loan?


    No, you do not have to be a first time home buyer with KHC loans.


    How much down payment assistance can I get to buy a home in Kentucky?




    • Can I use the $10,000 for repairs to the home or buy stuff for the home?

      No you cannot! The  down payment assistance can be used for down payment, closing costs and prepaids.

      How long can I lock a KHC Loan?

      You can lock a KHC Loan for 45 days

      How long does it take to close a KHC loan?

      It takes about 30 to 45 days typically to close a KHC loan.

      Can I just get a down payment assistance loan from Kentucky Housing?


      In order to use the down payment assistance programs from KHC, you must do the first mortgage loan with them too. Additional eligibility requirements may apply, including income limits.


      What if I have bad credit and I get a KHC loan?


      Kentucky Housing loans require a minimum 620 credit score. The usually follow agency guidelines for credit, bankruptcy, foreclosure, collections, etc depending on it is FHA, VA, USDA, Fannie Mae.


      Can I build a home with a KHC loan?


      Kentucky Housing does not provide temporary construction loans, but we can provide the permanent financing for a new construction property with one of your loan programs including FHA, VA, USDA, or Fannie Mae.

      How much can the house cost for a KHC Loan?

      Our current purchase price limits are $346,644 in the state of Kentucky Consult your lender to determine the amount you are approved to borrow in regards to agency debt to income ratios requirements. KHC typically will not go above 40% for the front-end housing ratio, or over 50% for the total debt to income ratio. They will make exceptions sometimes.


      What is the required down payment for a KHC Loan?


      Required down payments range from 0-3.5% depending on the underlying loan product (Conventional, FHA, RD, VA).


      Is a co-signer allowed on a KHC Loan?


      KHC does not allow for co-signers to qualify for a mortgage loan


      Can I finance improvements or repairs?


      KHC does not offer rehab loans or 203k loans, or Renovation loans.


      Are there income limits based on gross or net income for a KHC?


      Gross household income limits for total household income.


      Can I finance a manufactured or mobile home with KHC?

      Manufactured and mobile homes are eligible under some mortgage products for KHC Loans. Homes must be double-wide, permanently attached to a foundation, and taxed as real estate (not personal property). Consult your lender for more information.


    Kentucky Down payment assistance loans are available up to $10,0000 for Mortgage




    • Kentucky Down Payment Assistance



      KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. We offer a special loan program to help with those. Your KHC-approved lender can help you apply.

    Regular DAP

      • Purchase price up to $349,525 with Secondary Market.
      • Assistance in the form of a loan up to $10,000 in $100 increments.
      • Repayable over a 10-year term at 3.75 percent.
      • Available to all KHC first-mortgage loan recipients.

    ​​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.​
      • .​

    SECONDARY MARKET FUNDING SOURCE

    • KENTUCKY HOUSING CORPORATION
      2021 SECONDARY MARKET
      GROSS ANNUAL APPLICANT’S INCOME LIMITATIONS
      Effective May 1, 2021

      Secondary Market Purchase Price Limit — $346,644

    Louisville Metro Down Payment Assistance Program

     

    Down Payment Assistance Program

    Applications for this program will reopen on Monday, July 18.

    The Louisville Metro Down Payment Assistance Program provides low- to moderate-income homebuyers with down payment and closing cost assistance for purchasing a home in the Louisville Metro area. Funds can be applied to the purchase of an existing or newly constructed home and are NOT limited to first-time homebuyers.

    Down Payment Assistance is in the form of a partially forgivable loan with 0% interest. Homebuyers must occupy the purchased home as their primary residence for a period of 5 – 15 years, depending upon the amount of assistance received. By the end of that specified period, 50% of the loan shall be forgiven. The remaining balance is not due until the sale of that home.   The maximum amount of assistance per homebuyer will be no more than 20% of the purchase price, but also based on the need the individual buyer. Section 8 Homeownership clients are encouraged to apply.  

    Goals of the Down Payment Assistance Program
    • Encourage homeownership, throughout Louisville Metro, which is economical to low-moderate income consumers in order to assist in preventing future foreclosures.
    • Encourage mixed-income neighborhoods and the de-concentration of poverty.
    • Encourage homeownership in Metro’s Neighborhood Revitalization Strategy Area – Russell.
    • Assist homebuyers in becoming informed consumers in order to successfully navigate real estate transactions and understand the responsibility of homeownership.
    • Encourage reinvestment in Louisville Metro’s vacant and abandoned properties.
    Eligibility
    • Household income at or below 80% of the area median income.
    Persons in Household123456
    80% AMI $47,450  $54,200  $61,000  $67,750  $73,200  $78,600 

     

    • Homebuyer(s) already pre-approved for a mortgage from a local financial institution.
    • Homebuyer(s) credit - no unpaid collections, past due balances or un-discharged bankruptcies. (Exception: Medical collections up to $10,000.00.)
    • Homebuyer(s) has at least $1,500 in savings.
    • Homes eligible for assistance must meet the Home Ownership Value Limits below.

    Existing Homes

     1-unit  2-unit (duplex) 3-unit (triplex) 4-unit (fourplex)
    $220,000$249,000$302,000$374,000

     

    New Homes

     1-unit  2-unit (duplex) 3-unit (triplex) 4-unit (fourplex)
    $257,000$329,000$399,000$494,000
     
    How to Apply
    1. Complete homebuyer counseling (6-hr minimum) from a HUD-approved counseling agency. If applying with co-applicant, both must complete. Married couples must apply as co-applicants.
    2. Apply to the Down Payment Assistance Program by clicking the green button below. Please allow 30 days for Metro review and verification.
    3. Homebuyer(s) receives letter of eligibility, stating entrance or denial into Homebuyer Assistance Program.
    4. Homebuyer(s) engages Realtor to assist in home search.
    5. Upon an accepted sales contract, homebuyer(s) submits Home Purchase Packet, executed sales contract, and primary loan documents to Metro.
    6. Metro staff underwrites the loan and presents to the Case Review Board.
    7. Homebuyer(s) receives conditional commitment letter from Metro, stating the amount of assistance available to purchase that home.
    8. Metro Office of Housing inspector coordinates with Realtor. Home must receive a passing inspection in order to receive Metro assistance.
    9. Lender, Realtor, and Metro coordinate with the homebuyer to close on the home.
    10. To apply now, click here
     LOUISVILLE, Ky. Low to moderate-income homebuyers in the Louisville Metro who are seeking assistance with down payments and closing costs can now apply for the city’s Down Payment Assistance Program.

    Applications for the program reopened on July 18 for the purchase of an existing or newly constructed home, according to Louisville Metro Government.

    A release states program funds are not limited to first-time homebuyers.

    The funds will be used as a partially-forgivable loan with 0% interest, where homeowners will need to occupy their purchased home for a period of five to 15 years.


    Following that period, 50% of the loan will be forgiven, and the rest of the balance will not be due until the sale of the home.

    Officials said the Down Payment Assistance Program encourages home ownership in the Louisville Metro and assisting potential homebuyers in making real estate transactions to understand the responsibilities of homeownership.

    The program is available to residents with a household income at or below 80% of the area median income, homebuyers who are already pre-approved for a mortgage and have no unpaid collections or past due balances on their credit.

    For more information and how to apply, click or tap here.

    Applicant Resources 

    DPA Brochure Program Handbook
    DPA FAQs