|Down Payment Assistance for Ky First Time Home Buyers|
- 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 3.0 percent with DAP.
- Minimumfront end ratio of at least 25 percent.
- Maximum ratios 40/45 percent.
- 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.
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