New in July 2025: $2,000 KHC Grant + $10,000 Down Payment Assistance for Kentucky Homebuyers

 $2,000 KHC Grant + $10,000 Down Payment Assistance for Kentucky Homebuyers

If you're a first-time or repeat homebuyer in Kentucky, July 2025 brings exciting news. The Kentucky Housing Corporation (KHC) just rolled out a limited-time $2,000 Closing Cost Grant, on top of their ongoing $10,000 Down Payment Assistance (DAP) loan. Together, that’s up to $12,000 in total assistance to help you get into your new home with less money out of pocket.

What’s New: The $2,000 KHC Grant (Launched July 15, 2025)

KHC is now offering a $2,000 Closing Cost Grant—no repayment required. Here’s what you need to know:

 Can be used toward closing costs, prepaid expenses, or down payment
 Stackable with the $10,000 DAP loan
Limited funds: Only $360,000 allocated (approx. 180 buyers statewide)
First-come, first-served – When it’s gone, it’s gone!

 Down Payment Assistance (DAP) – Up to $10,000

In addition to the grant, qualified homebuyers can receive up to $10,000 in down payment assistance via a 10-year second mortgage:

• 3.75% fixed interest rate

• 10-year repayment term

•  Can be used with FHA, VA, USDA (RHS), HFA Preferred, or Freddie Mac HFA Advantage loans

 Who’s Eligible for KHC Assistance?

 Borrower Requirements:

• Must be a U.S. citizen or legal resident

• Must occupy the home as a primary residence

• Cannot own other residential property at closing (for MRB loans)

• First-time OR repeat buyers welcome

• No homebuyer education required

 Property Requirements:

• New or existing homes

• Manufactured homes allowed (new units only with VA or RHS loans)

• Appraisal required for all property types

• Termite inspection required for VA loans and new construction

Credit & Income Guidelines:

Requirement	Details
Credit Score (FHA/VA/USDA)	620 minimum
Credit Score (Conventional)	660 minimum
Max DTI (Debt-to-Income)	50% with AUS approval
Bankruptcy/Foreclosure	Must be discharged 2–7 years ago
Non-taxable income	May be grossed up
Purchase Price Limit	$544,232

Interest Rate – As of July 2025

For FHA, VA, and RHS loans through KHC’s Mortgage Revenue Bond (MRB) program:

• 6.000% fixed rate (with or without DAP)

• 45-day rate lock through KHC’s lender portal

• ⚠️ Rates subject to change—always confirm current pricing with your lender

 Why Use KHC for Your Kentucky Mortgage?

 Up to $12,000 in total assistance available
Fixed-rate mortgage options
Available statewide through approved KHC lenders
No homebuyer education required
 Designed to help you close faster with less cash upfront

Let’s Get You Pre-Approved Today

I’m Joel Lobb, a trusted Kentucky mortgage broker helping first-time and repeat homebuyers take advantage of KHC, FHA, VA, USDA, and Fannie Mae loan programs. If you want to take advantage of the $2,000 grant + $10,000 DAP, let’s talk today before funds run out.

📧 Email: kentuckyloan@gmail.com
📞 Call or Text: 502-905-3708
🌐 Website: www.mylouisvillekentuckymortgage.com
📍 Address: 911 Barret Ave., Louisville, KY 40204
EVO Mortgage | NMLS #1738461 | Personal NMLS #57916

🏠 Kentucky Homebuyers

Big News for July 2025!

Up to $12,000 in Assistance Available

Act Fast: Limited $2,000 Grant - Only 180 Available!

💰 Two Powerful Assistance Programs

$10,000

Down Payment Assistance

• 3.75% fixed interest rate
• 10-year repayment term
• $1,000 - $10,000 range
• Use for down payment, closing costs, or prepaids
• Compatible with FHA, VA, RHS loans

New!

$2,000

Closing Cost Grant

• No repayment required
• Started July 15, 2025
• Limited to 180 grants statewide
• First-come, first-served
• Can stack with DAP loan

$12,000

Maximum Combined Assistance

🏦

Current Mortgage Rate

6.000%

Fixed Rate • FHA, VA, RHS Loans • July 2025

45-Day Rate Lock Available

✅ Key Qualification Requirements

📊

Credit Score

620+ FHA/VA/RHS
660+ Conventional

💼

Debt-to-Income

Maximum 50%
with AUS approval

🏡

Purchase Price

Maximum
$544,232

🇺🇸

Residency

U.S. citizen or
legal resident

👥

Buyer Type

First-time AND
repeat buyers

🎓

Education

Homebuyer classes
NOT required

🎯 Why Choose KHC Programs?

💰

Up to $12,000 Total Assistance

📈

Competitive Fixed Interest Rates

🏠

Both First-Time & Repeat Buyers

✅

Flexible Credit Guidelines

🗺️

Available Statewide

⚡

No Education Classes Required

📞 Ready to Secure Your Benefits?

Joel Lobb

Kentucky Mortgage Expert • NMLS# 57916

20+Years Experience

1,300+Families Helped

📱(502) 905-3708

✉️kentuckyloan@gmail.com

🌐mylouisvillekentuckymortgage.com

Evo Mortgage Company NMLS# 1738461 | Joel Lobb Personal NMLS# 57916
911 Barrett Ave., Louisville, KY 40204

Equal Housing Lender. Programs subject to availability and qualification.
Terms and rates subject to change without notice.

$2,000 CLOSING COST GRANT Kentucky Housing Corporation Special Offer

 

KHC Announces $2,000 Closing Cost Grant
Available for 180 Borrowers

Effective with new reservations TODAY, Tuesday, July 15, 2025, Kentucky Housing Corporation (KHC) will offer a limited-time $2,000 closing cost grant. Funding has been made available for 180 loans. 

Remaining funds will be updated weekly on the PowerLender dashboard. 

• First-come, first-served until funds are exhausted.
• Purchase transactions only.
• List as a grant in Desktop Underwriter (DU) and Loan Product Advisor (LPA).
• List as a gift in the Guaranteed Underwriting System (GUS). 
• Can be used with KHC Down payment Assistance Program (DAP). 
• A KHC grant/gift letter will be available at time of reservation and must be signed by borrower(s).  
• List the Closing Cost Grant on the Final 1003 in Section 4d.  

$2,000 CLOSING COST GRANT

Kentucky Housing Corporation Special Offer

🚨 LIMITED TIME OFFER 🚨

Effective July 15, 2025 - Only 180 borrowers will receive this grant!

💰

$2,000 FREE MONEY

Grant money that doesn't need to be repaid - reduces your closing costs significantly

🏡

Purchase Only

Available for home purchases only - perfect for first-time homebuyers

⚡

Stack with DAP

Can be combined with KHC Down Payment Assistance for maximum savings

Program Details

• First-come, first-served until funds are exhausted
• Purchase transactions only
• List as a grant in Desktop Underwriter (DU) and Loan Product Advisor (LPA)
• List as a gift in the Guaranteed Underwriting System (GUS)
• Can be used with KHC Down Payment Assistance Program (DAP)
• KHC grant/gift letter required and must be signed by borrower(s)
• Must be listed on Final 1003 in Section 4d

⏰ ACT FAST!

Only 180 grants available - funds will be updated weekly until exhausted

Ready to Get Started?

Contact Joel Lobb - Your Kentucky Mortgage Expert

📧 Email

kentuckyloan@gmail.com

📱 Call/Text

502-905-3708

🌐 Website

www.mylouisvillekentuckymortgage.com

📍 Address

911 Barret Ave.
Louisville, KY 40204

🎯 Specialization

Kentucky Mortgage Loan Expert For Kentucky FHA, VA, USDA, Fannie Mae and KHC Down Payment Assistance Loans

🏛️ Licensing Information

Joel Lobb - Personal NMLS# 57916
Evo Mortgage - Company NMLS# 1738461
Kentucky Mortgage Loan Only
www.nmlsconsumeraccess.org

CALL NOW TO APPLY!

Important Disclosures:

This website is not endorsed by the FHA, VA, USDA, KHC, or any government agency. It is an independent platform created to educate and assist homebuyers with expert advice and accessible tools. Equal Housing Lender.

These materials are not from HUD, FHA, the USDA, KHC, or the VA. These materials were not approved by any government agency. They are independent of any government agency.

For information directly from KHC, visit their official website. Loan approval subject to credit approval and program guidelines.

Kentucky First-Time Home-Buyer Programs

Kentucky First-Time Home Buyer Programs 2025: Your Complete Guide to Homeownership

New for 2025: Kentucky Housing Corporation (KHC) has increased their purchase price limit to $544,232 effective June 23, 2025, opening doors for more first-time home buyers across Kentucky. Whether you're looking in Louisville, Lexington, or rural Kentucky communities, we'll help you find the right program with down payment assistance up to $10,000.

Quick Navigation

• • Program Comparison
• • FHA Loans in Kentucky
• • USDA Rural Development
• • VA Loans for Veterans
• • KHC Down Payment Assistance
• • How to Qualify
• • Step-by-Step Process
• • Payment Calculator

Kentucky First-Time Home Buyer Programs: What's Available in 2025?

Kentucky offers some of the most comprehensive first-time home buyer assistance programs in the nation. From zero-down payment options to substantial down payment assistance, first-time buyers in Kentucky have multiple pathways to homeownership. Here's what makes Kentucky special for new home buyers:

• Kentucky Housing Corporation (KHC) provides up to $10,000 in down payment assistance
• USDA Rural Development loans offer 0% down for eligible areas in Kentucky
• FHA loans require as little as 3.5% down with credit scores as low as 580 or 10% down with a 500 credit score
• VA loans provide 0% down for eligible veterans and active military
• Conventional loans with as little as 3% down for qualified borrowers

The best part? Many of these programs can be combined to maximize your buying power and minimize out-of-pocket costs.

Kentucky Home Buyer Programs: Side-by-Side Comparison

Program	Minimum Credit Score	Down Payment	Income/Price Limits	Best For
FHA Loan	580 (3.5% down) 500-579 (10% down)	3.5% minimum	Up to $524,225 in high-cost KY counties	Lower credit scores, flexible qualification
USDA Rural Development	640+ (preferred) but no minimum score	0% down payment	115% of area median income; rural/$119,850 to $158,250 typically based on household size family	Rural buyers, zero down payment
VA Loan	No minimum (lender overlay 620 or higher preferred)	0% down payment	No income limits; must meet VA eligibility for residual income limits	Veterans, active military, eligible spouses
KHC Down Payment Assistance	620-660 (varies by loan type)	0% with assistance	Income limits vary by county; $544,232 max price	First-time buyers needing down payment help
Conventional 95-97% LTV	620+ but 720 or higher is usually needed with at least 5% down with mi gets approved	3% minimum max debt to income ratio of 45% and 50% on front end and back end ratios	$806,500 Kentucky limit	Good credit, ability to cancel PMI

FHA Loans for First-Time Buyers in Kentucky

FHA loans are the most popular choice for Kentucky first-time home buyers, and for good reason. The Federal Housing Administration backs these loans, making them less risky for lenders and more accessible for borrowers.

Kentucky FHA Loan Benefits:

• Low down payment: Just 3.5% with a 580+ credit score
• Flexible credit requirements: Scores as low as 500 accepted (with 10% down)
• Gift funds allowed: Down payment can come from family gifts
• Seller concessions: Sellers can contribute up to 6% toward closing costs
• Assumable loans: Future buyers can take over your FHA loan

2025 FHA Loan Limits in Kentucky:

Most Kentucky counties have an FHA loan limit of $524,225

FHA Mortgage Insurance in Kentucky:

FHA loans require both upfront mortgage insurance (1.75% of loan amount) and annual mortgage insurance. For 2025, annual rates range from 0.15% to 0.75% depending on loan-to-value ratio and loan term and loan amount Everyone pays the same with FHA.

USDA Rural Development Loans in Kentucky

Kentucky's rural and suburban communities are perfect for USDA loans, which offer 100% financing (no down payment) for eligible properties and borrowers.

USDA Loan Advantages:

• Zero down payment required
• Competitive interest rates
• No prepayment penalties
• Flexible credit guidelines
• Lower mortgage insurance than FHA loans

USDA Eligibility in Kentucky:

Contrary to popular belief, "rural" doesn't mean farmland. Many suburban areas around Louisville, Lexington, and other Kentucky cities qualify for USDA financing. Key requirements include:

• Property must be in a USDA-eligible area see link below (we can check any address)
• Household income cannot exceed 115% of area median income see link below
• Must be primary residence, not investment or second homes
• Credit score of 640+ for automated approval, but can do a manual underwrite with scores below 640 with a maxiumum debt to income ratio of 29% and 41% respeivrtly on front end and back end ratios

Popular USDA-Eligible Areas in Kentucky:

Many communities around major cities qualify, including parts of Oldham, Shelby, Spencer, Bullitt, and other counties near Louisville, plus numerous areas around Lexington, Bowling Green, and other Kentucky metros.

VA Loans for Kentucky Veterans and Military

Kentucky's strong military presence means many first-time buyers can take advantage of VA loan benefits, which are among the best available.

VA Loan Benefits:

• No down payment required
• No private mortgage insurance
• Competitive interest rates
• No prepayment penalties
• Assumable loans
• Reusable benefit

VA Loan Eligibility:

Veterans, active-duty service members, National Guard, Reserves, and eligible surviving spouses may qualify. You'll need a Certificate of Eligibility (COE) from the VA.

VA Funding Fee:

While VA loans don't require montlhy mortgage insurance, there is a upfront funding fee, varies click here for more info Veterans with service-connected disabilities are exempt from this fee.

Kentucky Housing Corporation (KHC) Down Payment Assistance

The Kentucky Housing Corporation offers the most significant down payment assistance in the state, helping qualified first-time buyers overcome the biggest barrier to homeownership.

KHC Program Highlights:

• Up to $10,000 in down payment assistance
• Forgivable loans in many cases
• Can be combined with FHA, VA, USDA, or conventional loans
• Below-market interest rates
• $544,232 maximum purchase price (effective June 23, 2025)

KHC Income Limits by County (2025):

Income limits vary by county and household size. For example:

• Jefferson County (Louisville): Up to $99,700 for 1-2 person household
• Fayette County (Lexington): Up to $92,400 for 1-2 person household
• Most other counties: $73,500-$89,100 for 1-2 person household

How KHC Down Payment Assistance Works:

KHC provides a second mortgage for down payment and closing cost assistance. In many cases, this loan is forgiven after 5-10 years of occupancy, making it essentially a grant.

How to Qualify for Kentucky First-Time Home Buyer Programs

First-Time Buyer Definition:

Most programs define "first-time buyer" as someone who hasn't owned a home in the past 3 years. Some exceptions apply for single parents, divorced individuals, and displaced homemakers.

General Qualification Requirements:

• Credit Score: Minimum varies by program 620 for government loans and 660 for conventinonal loans
• Income: Must be within program limits for your area
• Employment: Stable 2-year work history
• Debt-to-Income: Typically 50% or lower
• Assets: Enough for down payment and closing costs (unless using assistance)
• Primary residence: Must be your main home

Required Documentation:

• Recent pay stubs or monthly statements if on fixed income (30 days)
• Tax returns and w-2's(2 years)
• Bank statements (2 months)
• Credit report
• Employment verification for last two years
• ID and Social Security card

Kentucky First-Time Home Buyer Process: Step-by-Step Guide

Step 1: Check Your Credit and Finances

Pull your free credit report from annualcreditreport.com and review your finances. Calculate how much you can afford for a monthly payment including principal, interest, taxes, and insurance.

Step 2: Get Pre-Qualified

Contact a Kentucky-licensed loan officer for a free pre-qualification. This will help you understand your buying power and which programs you qualify for.

Step 3: Choose Your Home Loan Program

Based on your location, credit, and financial situation, select the best program or combination of programs for your needs.

Step 4: Find a Kentucky Realtor

Work with a buyer's agent who understands first-time buyer programs and can help you find homes within your budget and program requirements.

Step 5: Apply for Your Mortgage

Submit your complete application with all required documentation. Your loan officer will guide you through underwriting and closing.

Step 6: Close on Your New Home

Attend your closing, sign the paperwork, and get your keys! Welcome to homeownership in Kentucky!

Kentucky Home Buying Timeline: What to Expect

Understanding the timeline helps you plan your home purchase:

• Pre-qualification: Same day to 24 hours
• House hunting: 2-8 weeks (varies by market and preferences)
• Loan processing: 30-45 days from application to closing
• USDA loans: May take 35-45 days due to rural development review
• KHC loans: Allow extra time for down payment assistance processing

Frequently Asked Questions About Kentucky First-Time Home Buyer Programs

What credit score do I need to buy a house in Kentucky?

Credit score requirements vary by program: FHA loans accept scores as low as 580 (or 500 with 10% down), USDA prefers 640+ but can go lower on a manual undewrite, VA loans have no official minimum but lenders typically want 620+, and conventional loans usually require 620+ but usually need 700 or highere. KHC programs follow the underlying loan type requirements.

Can I get down payment assistance in Kentucky?

Yes! Kentucky Housing Corporation provides up to $10,000 in down payment assistance for qualified first-time buyers. Many of these loans are forgivable after 5-10 years. Additionally, FHA, VA, and USDA loans allow seller contributions toward closing costs.

What areas of Kentucky qualify for USDA loans?

Much of Kentucky outside major metro centers qualifies for USDA financing. This includes many suburban areas around Louisville, Lexington, and other cities. We can check any specific address for USDA eligibility at no cost.

How much can I borrow with Kentucky first-time buyer programs?

Loan limits vary by program and location. FHA limits go up to $524,225 in high-cost Kentucky areas, USDA has no set limit but income restrictions apply, VA loans have no limit with full entitlement, and KHC programs have a $544,232 maximum purchase price as of June 2025. House payment should not be more than 45 to 50% of your gross income, lower on bad credit files and no money down programs in Kentucky

Can I combine multiple Kentucky home buyer programs?

Yes! Many programs can be combined. For example, you can use KHC down payment assistance with an FHA loan, or combine seller concessions with various loan programs to minimize your out-of-pocket costs.

How long does it take to close on a home in Kentucky?

Average closing times are 30 days for FHA and conventional loans, 25-30 days for VA loans, and 35-45 days for USDA loans. KHC programs may add a few extra days for down payment assistance processing.

Kentucky Home Loan Payment Calculator

Estimate Your Monthly Payment

Home Price ($)

Down Payment ($)

Interest Rate (%)

Loan Term (years)

Property Taxes (annual)

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*Estimates only. Actual payments may vary. Not a commitment to lend. Equal Housing Lender.
EVO Mortgage NMLS #1738461 • Joel Lobb NMLS #57916

Ready to Start Your Kentucky Home Buying Journey?

Get your free pre-qualification in 24 hours and discover which Kentucky first-time buyer programs you qualify for. No hard credit check required.

📞 Call (502) 905-3708 ✉️ Email Us

Joel Lobb - Senior Loan Officer
EVO Mortgage • NMLS #1738461 • Personal NMLS #57916
Equal Housing Lender • Licensed in Kentucky

Kentucky First-Time Home Buyer Programs by Region

Louisville Metro Area First-Time Buyers

Kentucky Mortgage Expert Joel Lobb Launches Resource Hub for First-Time Homebuyers

LOUISVILLE, KY – As higher rates and stricter underwriting challenge first-time homebuyers, Kentucky mortgage broker Joel Lobb (NMLS #57916) is unveiling a new digital hub designed to help local residents understand and qualify for low or no money down home loans.

“Most Kentuckians don’t realize they may qualify for a home loan with as little as 0–3.5% down, even with less-than-perfect credit,” said Lobb. “This platform is built to educate and provide tools buyers actually need.”

✅ What’s Inside the New Kentucky Mortgage Hub?

• FHA, VA, USDA, KHC loan comparisons
• Real-time mortgage calculators
• Credit tips for buyers with scores under 620
• Steps to apply and get pre-approved fast

The site—www.mylouisvillekentuckymortgage.com—is optimized for searches like:

• Kentucky first-time homebuyer loans
• FHA mortgage Kentucky
• 0 down home loans KY
• VA loan lender Kentucky
• How to qualify for USDA loan KY

💡 Kentucky Mortgage Programs Explained

If you're starting your home search, here are the most common mortgage loan programs Joel helps with:

FHA Loans

Designed for credit scores as low as 580 with just 3.5% down. Ideal for first-time homebuyers and buyers with limited credit history.

VA Loans

Available to veterans, active-duty military, and eligible spouses. No down payment required. No monthly mortgage insurance.

USDA Loans

100% financing for eligible rural areas across Kentucky. Income and location restrictions apply.

Kentucky Housing Corporation (KHC)

Offers Down Payment Assistance (DAP) up to $10,000 and competitive interest rates for low- to moderate-income buyers.

📞 Contact Joel Lobb for Free Consultation

With more than 1,300 Kentucky closings and 20+ years of experience, Joel provides personalized, fast approvals with a human touch—not a call center.

• 📧 Email: kentuckyloan@gmail.com
• 📞 Phone/Text: (502) 905-3708
• 🌐 Website: mylouisvillekentuckymortgage.com
• 🏢 Address: 911 Barret Ave, Louisville, KY 40204

Need help or ready to apply? Submit your loan app today or email Joel directly with your questions. Same-day pre-approvals available.

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Joel Lobb is a licensed mortgage loan officer (NMLS #57916) with EVO Mortgage. (NMLS #1738461). Equal Housing Lender.

Kentucky's Welcome Home Grant

WELCOME GRANT INFORMATION FOR QUALIFYING IN 2025

Welcome Home Program Grant is closed for 2025 ⬅️

Kentucky's Welcome Home Grant: A $20,000 Boost for Homeownership!

Dreaming of owning a home in Kentucky but facing hurdles with the down payment? The Welcome Home Grant program might be your answer! This initiative offers a $20,000 grant to eligible homebuyers, giving them a significant financial boost towards their dream home. Let's delve into the program's details and see if you qualify!

What is the Welcome Home Grant Program?

This program, funded by the Federal Home Loan Bank of Cincinnati (FHLBC), partners with participating lenders across Kentucky to provide down payment and closing cost assistance to homebuyers. It aims to increase homeownership opportunities for individuals and families, particularly those with moderate income.

1. Who is Eligible?
2. Income Limits: Your household income must be at or below 80% of the Mortgage Revenue Bond (MRB) limit for your county. You can find these limits here 
3. --👇>>https://kyfirsttimehomebuyer.wordpress.com/2024/01/20/kentucky-welcome-home-grant-5000-00/
4. Only Kentucky First-Time Homebuyers? Not necessarily: Both first-time and repeat homebuyers can apply!
5. Location: The property must be your primary residence and located in a county participating in the program. It's available in all 120 counties of Kentucky
6. Other Requirements: You must have a fully executed purchase contract, contribute at least $500 of your own funds towards the down payment/closing costs, and meet the lender's creditworthiness standards.

Important Dates to Remember:

• Application Period: Reservations for the 2025 Welcome Home Grant program open on March 1st, 2025, at 8:00 AM ET.
• Funding Availability: Grants are limited and awarded on a first-come, first-served basis.
• Program Duration: The program runs until all funds are reserved.
• Must have contract under agreement to submit for funds. 

Benefits of the Welcome Home Grant:

• Significant financial assistance: $20,000 can make a huge difference in lowering your down payment and closing costs.
• More affordable monthly payments: A smaller down payment translates to a lower mortgage amount and potentially lower monthly payments.
• Opens doors to homeownership: The grant can make homeownership more accessible for those facing financial constraints.

Next Steps:

1. Check your eligibility: Visit the this  Kentucky Welcome Home Grant Qualifying Criteria or contact a participating lender to confirm you meet the income and other requirements. 
2. Find a participating lender: A list of participating lenders is available on the FHLBC website or here --->>> Kentucky Lenders for Welcome Home Grant 2025.
3. Get pre-approved: Getting pre-approved shows the seller you're a serious buyer and helps you understand your budget.
4. Be prepared on March 1st: Have all necessary documents ready to submit your reservation for the grant as soon as applications open.
5. Income Limits for Kentucky Welcome Grant for all Kentucky Counties below:👇
6. 👉Kentucky welcome grant income limits for 2025

Kentucky Welcome Home Buyer Eligibility

A homebuyer would be eligible for the Kentucky Welcome Home grant if all of the following guidelines are met:

• The total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located;
• A fully executed (signed by buyer and seller) purchase contract on an eligible property is in hand;
• The homebuyer has at least $500 of their own funds to contribute towards down payment and/or closing costs; and,
• If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory homebuyer counseling course is completed prior to the loan closing.
  Note: Applicants do not have to be first-time homebuyers.
  

Kentucky Property Eligibility

The Kentucky Welcome Home grant is available for various property types:

• The property will be the homebuyer’s primary residence;
• The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home. (Manufactured homes may be eligible if they are taxed as real estate and affixed to a permanent foundation); and,
• The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.
  

Beginning March 1, 2025, the Federal Home Loan Bank of Cincinnati offers grants of up to $25,000 for honorably discharged veterans, surviving spouses of military personnel, and active duty military homebuyers and up to $20,000 for all other homebuyers to assist with down payment and closing costs for income eligible homebuyers through the Welcome Home Program. Who are Eligible Homebuyers?
A homebuyer would be eligible for the Welcome Home grant if all of the following guidelines are met: The total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond limit for the county and state where the property is located –


In Jefferson County 1 or 2 person families can make up to $71,760. 3-4 persons in the household cap at $82,584. The limits are slightly higher or lower in the surrounding counties like Bullitt, Henry, Oldham, Spencer, Hardin, Meade, Nelson and Spencer Counites. see limits below



2025 Income Limits Kentucky Welcome Program Below:


Use the 80% limits for the Welcome Home Program

Kentucky Welcome Home Grant 2025 Income Limits for the $20,000 Grant.

Use the 80% limits for the Welcome Home Program

Use the 100% limits for the Disaster Reconstruction Program

Home Buyer Eligibility

A homebuyer would be eligible for the Welcome Home grant if all of the following guidelines are met:


The total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located;
A fully executed (signed by buyer and seller) purchase contract on an eligible property is in hand;
The homebuyer has at least $500 of their own funds to contribute towards down payment and/or closing costs; and,

If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory homebuyer counseling course is completed prior to the loan closing.
Note: Applicants do not have to be first-time homebuyers.

Property Eligibility

The Welcome Home grant is available for various property types:


The property will be the homebuyer’s primary residence;
The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home. (Manufactured homes may be eligible if they are taxed as real estate and affixed to a permanent foundation); and,
The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.

A fully executed (signed by buyer and seller) purchase contract on an eligible property is in hand; 

The homebuyer has at least $500 of their own funds to contribute towards down payment and/or
closing costs; And, If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory homebuyer counseling course is completed prior to the loan closing. 

YOU DO NOT HAVE TO BE A FIRST-TIME BUYER TO OBTAIN THIS GRANT.

What is an Eligible Property?

A property would be eligible if all of the following guidelines are met:
The property will be the homebuyer’s primary residence; The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units); And, The property is subject to a legally enforceable five-year retention mechanism – this means it is forgiven at a rate of 20% per year and if you sell before 5 years, they will be repaid part of the grant.

 

 Email - kentuckyloan@gmail.com 

  

 Call/Text - 502-905-3708

Joel Lobb
Mortgage Loan Officer - Expert on Kentucky Mortgage Loans

 Website: www.mylouisvillekentuckymortgage.com
 Address: 911 Barret Ave., Louisville, KY 40204

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Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

For assistance with Kentucky mortgage loans, reach out via email, call, or text Joel Lobb directly.

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).