Louisville Kentucky $10,000 Down Payment Assistance Grant for Home buyers in 2018

Source: Louisville Kentucky $10,000 Down Payment Assistance Grant for Home buyers in 2017

e2347-facebook_15155139308592b252822529 KHC Grant

You must have a house under contract and meet the following guidelines below:

  • Zero percent interest rate for Louisville Kentucky first-time home buyers.
  • A non-repayable second mortgage for $10,000.
  • Forgiven after five years.
  • Home purchase must be located in Christian, Hardin, Jefferson, or Kenton counties.
  • Applicants must meet secondary market income and buying limits.
  • Minimum 620 Credit Score
  • Max Purchase Price Limit of $283,000
  • Max Household Income Limits of $117,250
  • Must provide 3 years tax returns to prove a first time home buyer in Louisville KY
  • Must complete an online homebuying course
  • Max debt to income ratios of 40 and 45% respectively with Approved Eligible Findings
  • Never been convicted of a felony crime in last 10 years for tax evasion, larceny or real estate transaction..
  • No Bankruptcies last 2 years for FHA

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What is the one thing that stops most buyers from buying a home today?

They don’t have enough money for down payment and closing costs to buy a home.
You can now get up to $10,000 at closing to help towards your down payment and closing costs. Combined with seller assist, this reduces the amount of money needed substantially.
Here’s how it works:
$10,000 HHF DAP Available

Kentucky Housing Corporation (KHC) is proud to announce a new round of Hardest Hit Fund (HHF) Down payment Assistance Program (DAP), a total of $5 million will be available for new reservations beginning today, Tuesday, January 9, 2018, at 10 am, ET. The HHF DAP will be available on a first-come, first served basis, based on the completion of the first mortgage and HHF DAP Reservations. All program guides have been updated to reflect the availability of the HHF DAP.

HHF DAP Program Guidelines:

  • $10,000, zero-percent interest, forgivable second mortgage loan with a five-year term.
  • Property must be located in one of the four counties:
    • Christian
    • Hardin
    • Jefferson
    • Kenton
  • No New-Construction properties allowed.
    • Property has to have been previously occupied.
  • Secondary Market Purchase Price and Income Limits apply.
  • Borrower must be a first-time home buyer (no ownership interest in the last three years).
    • Most recent three-year federal tax returns or tax transcripts required.
  • Pre-purchase homebuyer education required for all borrowers.
  • Dodd-Frank Certification must be completed.
  • Terms & Conditions form (prints with the HUD-1, Note and Mortgage)
    • This form highlights a few of the program requirements, such as occupancy/ownership status and forgiveness period.



Joel Lobb (NMLS#57916)
Senior  Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346

Text/call 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#57916 http://www.nmlsconsumeraccess.org/
— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.



Author: Louisville Kentucky Mortgage

I have helped over 589 Kentucky families buy or refinance their home over the last 18 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process. I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues. You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process. Give us a try or let us compare your options on your next mortgage transaction. Call me locally at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at kentuckyloan@gmail.com with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance. This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. NMLS# 57916 http://www.nmlsconsumeraccess.org/ Joel Lobb Senior Loan Officer (NMLS#57916) American Mortgage Solutions, Inc. 800 Stone Creek Pkwy, Ste 7, Louisville, KY 40223 phone: (502) 905-3708 Fax: (502) 327-9119 kentuckyloan@gmail.com Company ID #1364 | MB73346 http://mylouisvillekentuckymortgage.com Equal Housing Lender

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