Louisville Down Payment Assistance 2026 | Up to $25,000 Metro Housing fo...

Kentucky's Welcome Home Grant

2026 Update: The Kentucky Welcome Home Grant is expected to open in spring 2026. Final grant amounts, income limits, and eligibility rules will be released by the Federal Home Loan Bank of Cincinnati when reservations open.

2025 Status: The Welcome Home Grant for 2025 is closed and no longer accepting reservations.

Kentucky Welcome Home Grant Program

The Welcome Home Grant is a down payment and closing cost assistance program offered through the Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) and participating lenders in Kentucky. The program is designed to help income-eligible homebuyers overcome one of the biggest barriers to homeownership: upfront cash needed to buy a home.

Funds are limited and awarded on a first-come, first-served basis once the program opens.

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How Much Is the Welcome Home Grant?

Grant amounts vary by year based on available funding and program rules.

• In prior years, most eligible homebuyers received up to $20,000.
• Eligible veterans, active-duty military, and some surviving spouses have qualified for higher grant amounts in certain years.

Grant funds may be used toward down payment and closing costs. The grant is not a loan and does not require monthly repayment, as long as program requirements are met.

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Who Is Eligible for the Kentucky Welcome Home Grant?

Income Limits

Household income must be at or below 80 percent of the Mortgage Revenue Bond (MRB) income limit for the county where the property is located.

Household income includes the income of all adults who will live in the home, not just the borrowers listed on the mortgage application.

Income limits vary by county and household size and are confirmed when the program opens.

First-Time Buyer Requirement

You do not have to be a first-time homebuyer to qualify.

However, if you are considered a first-time homebuyer (generally defined as not owning a home in the past three years), a homebuyer education course is typically required before closing.

Buyer Contribution

Buyers are generally required to contribute at least $500 of their own funds toward the transaction. This contribution cannot be gifted.

Purchase Contract

A fully executed purchase contract signed by both the buyer and seller is typically required in order to reserve Welcome Home Grant funds.

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Eligible Properties in Kentucky

The Welcome Home Grant may be used for the purchase of an eligible primary residence located in Kentucky.

Eligible property types may include:

• Single-family homes
• Townhomes
• Condominiums
• Duplexes and multi-unit properties (up to four units)
• Some manufactured homes, if taxed as real estate and permanently affixed

Investment properties and second homes are not eligible.

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Five-Year Retention Requirement

Welcome Home Grant funds are subject to a five-year retention period that is recorded with the deed or restrictive covenants.

During this period, the Federal Home Loan Bank of Cincinnati must be notified if the home is sold, refinanced, transferred, or foreclosed.

If the property is sold or ownership changes before the end of the five-year period, a portion of the grant may be subject to repayment based on program rules.

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2026 Welcome Home Grant Timing

• The program typically opens once per year, usually in March or April.
• Funds are limited and often reserved very quickly.
• Buyers must be fully qualified and ready to move forward when reservations open.

Waiting until the program opens to start the loan process often results in missing out on funding.

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Next Steps for Kentucky Homebuyers

1. Get fully pre-approved with a participating lender.
2. Verify household income eligibility early.
3. Complete homebuyer education in advance if required.
4. Be ready with a signed purchase contract when the program opens.

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Kentucky loan program hubs

• Kentucky FHA loans
• Kentucky VA loans
• Kentucky USDA loans
• KHC down payment assistance

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FAQ: Kentucky Welcome Home Grant requirements

Disclaimer: Program rules, grant amounts, income limits, and availability can change without notice. This is informational only and not a commitment to lend or a guarantee of grant funding.

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Email: kentuckyloan@gmail.com
Call/Text: 502-905-3708

Joel Lobb
Mortgage Loan Officer – Expert on Kentucky Mortgage Loans
Website: www.mylouisvillekentuckymortgage.com
Office: 911 Barret Ave., Louisville, KY 40204
EVO Mortgage – Company NMLS# 1738461
Personal NMLS# 57916

$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

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Interest Rate (%)

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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.

The best Kentucky first-time homebuyer programs in Kentucky

Top Loan Programs for First-Time Homebuyers in Kentucky FHA, VA, USDA and KHC Down Payment Grants

Provided By

Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA

 Buying your first home in Kentucky can be both exciting and overwhelming. With the right loan programs and financial assistance, homeownership is more achievable than ever. Whether you need low down payment options, credit flexibility, or down payment assistance, there are Kentucky first-time home buyer programs designed to help.

In this guide, we’ll cover FHA, VA, USDA, Kentucky Housing Corporation (KHC), and down payment assistance programs to help you make the best decision.

Kentucky First-Time Home Buyer Loan Programs

1. FHA Loans – Low Down Payment, Credit-Friendly

Best for: Buyers with lower credit scores or limited savings

Minimum Credit Score: 580 (3.5% down), 500 (10% down)
Debt-to-Income (DTI) Ratio: Up to 57% with compensating factors
Mortgage Insurance: Required for the life of the loan
Down Payment Assistance Available: Yes
Why Choose an FHA Loan?
FHA loans are perfect for first-time home buyers in Kentucky who may not have a perfect credit history or large down payment. These loans are insured by the government, making them easier to qualify for.

2. VA Loans – No Down Payment for Military Buyers

Best for: Veterans, active-duty service members, and eligible spouses

Minimum Credit Score: 580-620 (varies by lender)
Down Payment: $0 down payment required
Mortgage Insurance: None (No PMI)
Debt-to-Income Ratio: Up to 50%+ with strong credit

Why Choose a VA Loan?

VA loans provide 100% financing, meaning no down payment is required. They also have lower interest rates and no private mortgage insurance (PMI), making them one of the best loan programs for Kentucky first-time homebuyers who qualify.

3. USDA Loans – 100% Financing for Rural Buyers

Best for: Buyers looking in USDA-eligible rural or suburban areas

Minimum Credit Score: 640 preferred
Down Payment: $0 down payment required
Income Limits: 115% of the area’s median income
Location Restrictions: Must be in a USDA-eligible area

Why Choose a USDA Loan?

If you’re looking to buy in a qualifying rural area, a USDA loan offers 100% financing, meaning no down payment is needed. It’s a great option for buyers with limited savings.

4. Kentucky Housing Corporation (KHC) Loans – Down Payment Assistance

Best for: First-time buyers needing down payment and closing cost help

Minimum Credit Score: 620+
Down Payment Assistance: Up to $10,000
Income Limits: Varies by county

Key Factors for Kentucky First-Time Home Buyers in 2025

1. Credit Scores: The Gateway to Mortgage Approval

Your credit score determines loan eligibility and interest rates. Here’s what you need:

Minimum Scores:

FHA Loans: 580+ (3.5% down) or 500–579 (10% down).

Conventional Loans: 620+.

Improving Your Score: Pay down debt, dispute errors, and avoid new credit lines. Learn how to boost your credit score here (internal link).

2. Down Payments: How Much Do You Really Need?

Kentucky Average Down Payment: 6–10% (

–
13,500–22,500 on a $225k home).

Low Down Payment Options:

FHA Loan: 3.5% down.

USDA Loan: 0% down (rural areas).

KHC Down Payment Assistance: Up to $10,000 for eligible buyers. Explore Kentucky Housing Corporation (KHC) programs (external link).

3. 2025 Interest Rate Trends in Kentucky

Average rates are projected at 6.2–7.5% (Freddie Mac, 2024). Lock in lower rates by improving your credit score and shopping lenders.

4. Income Ratios: What Lenders Look For

Most lenders use the 28/36 rule:

28% of gross income on housing costs.

36% on total debt.

5. Kentucky Home Prices: Where to Buy

Louisville: $250k median.

Lexington: $275k median.

Rural Areas: As low as $150k.

Joel Lobb, Kentucky Mortgage Expert on FHA, VA, USDA and KHC
Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA

+1 502-905-3708
kentuckyloan@gmail.com

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How to Qualify For A Kentucky Mortgage Loan

Legal Disclaimer:

 

1 -  Email - kentuckyloan@gmail.com 

2.   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.

Kentucky Local Home Loan Lender Services

 First-Time Home Buyers Welcome
 FHA, Rural Housing (USDA), VA, and Kentucky Housing Corporation (KHC) Loans
 Conventional Loan Options Available
 Fast Local Decision-Making
 Experienced Guidance Through the Home Buying Process

If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant's eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/

Kentucky Housing Corporation (KHC) has reintroduced its $2,000 Closing Cost Grant,

 The Kentucky Housing Corporation (KHC) has reintroduced its $2,000 Closing Cost Grant, effective March 18, 2025. This grant is designed to assist homebuyers in Kentucky by covering some of the upfront costs associated with purchasing a home. Here's how it can help:

Key Features of the KHC $2,000 Closing Cost Grant

• No Repayment Required: The grant does not need to be repaid, making it a valuable resource for those who need financial assistance with closing costs.

• Combination with Other Programs: It can be combined with KHC's $10,000 Down Payment Assistance Program (DAP), allowing homebuyers to access a total of $12,000 in assistance. This combination can significantly reduce the amount of money needed upfront for a home purchase.

• Eligibility: While specific eligibility criteria are not detailed in the provided information, typically these programs require applicants to meet certain income limits, purchase price limits, and other qualifications.

How It Helps Homebuyers

• Reduces Upfront Costs: By covering closing costs, homebuyers can allocate more funds towards other expenses or save money for future needs.

• Increases Affordability: Combining the grant with the DAP can make homeownership more accessible by reducing the financial burden of down payments and closing costs.

• Simplifies the Homebuying Process: Having additional financial support can make the process less stressful and more manageable for first-time or low-income homebuyers.

Overall, the KHC $2,000 Closing Cost Grant is a beneficial resource for those looking to purchase a home in Kentucky, especially when used in conjunction with other assistance programs.

1. $2,000 Closing Cost Grant – No repayment required
2. Can be used for down payment, closing costs, and prepaid expenses 
3. Can be combined with KHC’s $10,000 Down Payment Assistance Program (DAP) Limited availability – Only $1 million available for the first 500 homebuyers Starts March 18, 2025 – Act fast before funds run out!

How to Apply for the KHC Closing Cost Grant

Applying for the grant is simple! Here’s how:

Get Pre-Approved – Work with a KHC-approved mortgage lender (like myself!) to determine your eligibility.
Find a Home – Once pre-approved, start house hunting with confidence.
Apply for Assistance – Your lender will help you apply for both the $2,000 Closing Cost Grant and $10,000 Down Payment Assistance Program if you qualify.
Close on Your Home – Use the funds to lower your upfront costs and move in with less money out of pocket!

•  First-come, first-served – Limited to the first 500 homebuyers
•  Available for purchase loans only (not refinances)
•  Can be combined with the KHC Down Payment Assistance Program (DAP) and Federal Home Loan Bank (FHLB) funds
•  Listed as a gift in GUS (Guaranteed Underwriting System), DU (Desktop Underwriter), and LPA (Loan Product Advisor)
• Grant confirmation available at reservation

https://notebooklm.google.com/notebook/0a9189d5-f3d5-4c22-a36b-889349289af1/audio

1 -  Email - kentuckyloan@gmail.com 

2.   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

---

Evo Mortgage
Company NMLS# 1738461
Personal NMLS# 57916

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

Kentucky Local Home Loan Lender Services

 First-Time Home Buyers Welcome
 FHA, Rural Housing (USDA), VA, and Kentucky Housing Corporation (KHC) Loans
 Conventional Loan Options Available
 Fast Local Decision-Making
 Experienced Guidance Through the Home Buying Process