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Kentucky Housing Down Payment Assistance for 2013 DAP funds for KY First Time Home Buyers
*** $15,000 Neighborhood DAP available from loan fallout ***
First come, first serve on new or existing reservations
KHC still has $6 million in Mortgage Revenue Bond (MRB) Special Funding available. This funding is limited and available on a first-come, first-served basis. The borrower must demonstrate a need based on at least a 25 percent minimum front-end ratio.
- 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.
front 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…
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