Down payment Assistance for Kentucky First Time Home buyers 2021


This type of loan is administered  by KHC in the state of Kentucky. They typically have $6000 down payment assistance year around, that is in the form of a second mortgage that you pay back over 10 years.
Sometimes they will come to market with other down payment assistance and lower market rates to benefit lower income households with not a lot of money for down payment.
KHC offers FHA, VA, USDA, and Conventional loans with their minimum credit scores being set at 620 for all programs. The conventional loan requirements at 660

KHC is used for mostly applicants in urban areas of Kentucky that don’t have access to USDA or other government agencies to buy a home with no down payment.

A minimum of 3.5% down payment is required with this loan. Down payment assistance loans are available from $6,000, and are paid back over a period of ten years. They are typically offered to buyers with limited cash reserves and carry an interest rate of 1 to 5.5%.

These loans can make a critical difference to buyers for whom the down payment is an obstacle. Buyers whose 3.5% down payment is less than the $6000 limit may choose to use the remainder of a down payment loan to pay closing costs, further reducing the amount needed to bring to closing.

KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

  • Kentucky First-time homebuyer qualifications

     KHC’s assistance programs.

    To qualify for the agency’s loans, you must:

    • Fall within your county’s “secondary market” income limit for qualifying for a reduced-interest loan with fewer overall requirements.
    • Be a U.S. citizen or qualified noncitizen.
    • Have a credit score of at least 620 (though some programs will require a higher score).

    Conventional Preferred Program

    The Kentucky Housing Corporation offers a few different loan programs, including the Conventional Preferred program. These home loans have 30-year fixed interest rates, so your rate won’t change over the life of the loan. The mortgages are serviced by the KHC and maintained in Kentucky, not sold off the way other mortgages are.

    To qualify for this program, you’ll need:

    • A minimum credit score of 660.
    • A down payment of 3% of your purchase price.
    • To pay monthly mortgage insurance.
    • An income that doesn’t exceed 80% of the local median income.

    With the Conventional Preferred Program, you also can make use of any of the state’s down payment assistance programs for help with your closing costs.

    Conventional Preferred Plus 80 Program

    Many of the requirements for the Preferred Plus 80 program are similar to those for the Conventional Preferred Program loans. You’ll need:

    • A minimum credit score of 660.
    • A down payment of 3% of your purchase price.
    • Monthly mortgage insurance.
    • An income that doesn’t exceed your county’s “secondary market” limit.

    And, the KHC’s down payment assistance programs can be used in conjunction with the Conventional Preferred Plus 80 program.

    KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

    KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

    Regular DAP

    • Purchase price up to $346,644 with Secondary Market.
    • Assistance in the form of a loan up to $6,000 in $100 increments.
    • Repayable over a ten-year term at 5.50 percent.
    • Available to all KHC first-mortgage loan recipients.

    Affordable DAP

    • Purchase price up to $346,644​ with Secondary Market.
    • Assistance up to $6,000.
    • Repayable over a ten-year term at 1.00 percent.
    • Borrowers must meet Affordable D​AP income limits.

    ​MORE ABOUT DOWN PAYMENT AND CLOSING COSTS

    • No liquid asset review and no limit on borrower reserves.
    • Specific credit underwriting standards may apply to down payment programs
    • .​

    SECONDARY MARKET FUNDING SOURCE

    • First-time and repeat homebuyers statewide
    • 30-year fixed interest rate
    • Principal residence ONLY
    • Purchase Price Limit:  $346,644
    • Borrower must meet KHC’s Secondary Market Income Limits

    KENTUCKY HOUSING CORPORATION
    2021 SECONDARY MARKET
    GROSS ANNUAL APPLICANT’S INCOME LIMITATIONS
    Effective May 1, 2021

    Secondary Market Purchase Price Limit — $346,644

    KENTUCKY HOUSING CORPORATION 2021 SECONDARY MARKET GROSS ANNUAL APPLICANT’S INCOME LIMITATIONS
    KENTUCKY HOUSING CORPORATION 2021 SECONDARY MARKET GROSS ANNUAL APPLICANT’S INCOME LIMITATIONS

Joel has worked with KHC for 12 of his 20 years in the mortgage lending business. Joel said, “A lot of my clients would not have been able to purchase a home of their own or possibly delayed their purchase due to lack of down payment but with the $6,000 DAP loan program, this gets them into a house sooner and starts their path to homeownership while building equity instead of throwing their money away.”

Joel has worked with KHC for 12 of his 20 years in the mortgage lending business. Joel said, “A lot of my clients would not have been able to purchase a home of their own or possibly delayed their purchase due to lack of down payment but with the $6,000 DAP loan program, this gets them into a house sooner and starts their path to homeownership while building equity instead of throwing their money away.”


Joel Lobb

Joel Lobb, American Mortgage Solutions (Statewide)

Joel has worked with KHC for 12 of his 20 years in the mortgage lending business. Joel said, “A lot of my clients would not have been able to purchase a home of their own or possibly delayed their purchase due to lack of down payment but with the $6,000 DAP loan program, this gets them into a house sooner and starts their path to homeownership while building equity instead of throwing their money away.”

When you’re ready to purchase a home in Joel’s area, contact him at:
Phone: 502-905-3708
Email: Kentuckyloan@gmail.com
Website: www.mylouisvillekentuckymortgage.com


Text/call 502-905-3708
kentuckyloan@gmail.com

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
NMLS Consumer Access
 Accessibility Statement
Privacy Policy
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/
— 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.

Text/call:      502-905-3708

fax:            502-327-9119
email:
kentuckyloan@gmail.com

Getting a Home Inspection In Louisville Kentucky- List of Home Inspectors Louisville, KY


via Getting a Home Inspection In Louisville Kentucky- List of Home Inspectors Louisville, KY

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Kentucky Approved HUD Home Inspector List below I

HUD’s Inspector Roster was eliminated effective August 2, 2018, as announced in Federal Register Docket No. FR-5457-F-02, dated July 3, 2018.

Inspectors as of 12/21/2018
(45 records were selected, 45 records displayed.)
Name ID Number Address Phone Status Approval State
WILOUGHBY, DANNY G A022 215 CLUB OAK COURT
LOUISVILLE, KY 40223
(502) 653-3688 Active KY
AUBREY, DELMUS A380 3903 BOWMAN LANE
CHATTANOOGA, TN 37416
(423) 954-2655 Active KY
PAPPERT, CHRIS F A901 4880 MARYBROOK DR
KETTERING, OH 45429
(937) 436-3676 Active KY
EPLING, RICHARD J B387 121 NORTH CUMBERLAND ST
MORRISTOWN, TN 37814
(423) 581-5583 Active KY
FLICK, FERDINAND J B637 3771 POWNER RD
CINCINNATI, OH 45248
(513) 574-5784 Active KY
TOLLIVER, JAMES R B931 POST OFFICE BOX 304
MOUNT WASHINGTON, KY 40047
(502) 428-6361 Active KY
JONES, TIMOTHY E C894 6960 US RTE 52
RIPLEY, OH 45167
(937) 392-1561 Active KY
HUFF, TONY D730 2200 AIRPORT RD, SUITE 60
OWENSBORO, KY 42301
(270) 686-8525 Active KY
GILBERT, DOUGLAS W E074 225 SUBSTATION ST
LONDON, KY 40741
(606) 878-9265 Active KY
MCCRACKEN, GARY D E404 403 SUNSET DR
LAWRENCEBURG, KY 40342
(502) 680-5066 Active KY
CONNOLLY, MICHAEL E412 508 MARCIA AVE
HAMILTON, OH 45013
(513) 896-5434 Active KY
HOLLAND, CHARLES T F096 405 GLENVIEW HTS
NEW ALBANY, IN 47150
(812) 948-1333 Active KY
HOLLAND, CHARLES T F096 405 GLENVIEW HTS
NEW ALBANY, IN 47150
(812) 948-1333 Active KY
CARR, THOMAS F G177 2805 KEARNEY CREEK LANE
LEXINGTON, KY 40511
(859) 396-0607 Active KY
SCHUTZMAN, JOSEPH A H965 2472 KREMERS LANE
VILLA HILLS, KY 41017
(859) 341-8582 Active KY
TERRY, WAYNE I920 253 MASSEY LANE
CARYVILLE, TN 37714
(865) 426-7614 Active KY
VOTOLATO, FRANK J I969 266 NORWOOD DRIVE
EAST BERNSTADT, KY 40729
(606) 843-0162 Active KY
TODD, WILLIAM J716 129 DONNA DRIVE
HOPKINSVILLE, KY 42240
(270) 885-4700 Active KY
BUTCHER, BRAD S J980 PO BOX 996
SOMERSET, KY 42503
(606) 451-0695 Active KY
SWINDLER, ROBERT M K001 1811 ABERDEEN DRIVE
LOUISVILLE, KY 40205
(502) 452-9623 Active KY
POYNTER, DARRELL F K421 1244 BETHLEHEM ROAD
PARIS, KY 40361
(859) 421-4966 Active KY
GREGORY, WILLIAM M043 5945 ABBOTT DR.
NASHVILLE, TN 37211
(615) 331-8495 Active KY
ELKINS, HUGH M320 P.O. BOX 627
RUSSELLVILLE, AL 35653
(256) 332-4157 Active KY
YOUNG, DON L N031 160 FERNWOOD DRIVE
LONDON, KY 40741
(606) 224-2495 Active KY
BOTTS, KENNETH G N291 720 HIGHLAND AVE
FLATWOODS, KY 41139
(606) 615-4454 Active KY
ROHRBACK, JEFF L N729 1081 SULPHUR WELL ROAD
NICHOLASVILLE, KY 40356
(859) 887-5992 Active KY
KIPER, TROY K N939 5101 MT HOLYOKE DRIVE
LOUISVILLE, KY 40216
(502) 608-3474 Active KY
JONES, ROBERT B Q082 100 RACHELS COURT
HENDERSONVILLE, TN 37075
(615) 824-4060 Active KY
PARSON, JOSEPH A Q297 450 BASELINE DRIVE
MOREHEAD, KY 40351
(606) 462-7017 Active KY
SHRUM, JERRY S012 605 GAYLEMORE
GOODLETTSVILLE, TN 37072
(615) 851-8630 Active KY
WILDER, LARRY S017 1224 MELINDA FERRY ROAD
BULLS GAP, TN 37711
(423) 923-4087 Active KY
HARDEN, LES H S289 33 LUMLEY AVE
FORT THOMAS, KY 41075
(859) 640-9376 Active KY
WOOSLEY, DWAINE T023 6210 ELANOR COURT
FLOYDS KNOBS, IN 47119
(502) 643-6937 Active KY
BRUNS, SCOTT A T967 339 BRIARCLIFF ROAD
DAYTON, OH 45415
(937) 545-6664 Active KY
WRIGHT, GARY U254 97 TOLLGATE TRAIL
LONGWOOD, FL 32750
(407) 647-1800 Active KY
CAMPBELL, ERNEST U433 802 BUFFALO ST., #12
JOHNSON CITY, TN 37604
(423) 928-1000 Active KY
CARPENTER, BOBBY M V373 5 BATH AVENUE
OWINGSVILLE, KY 40360
(606) 674-2554 Active KY
SCOTT, THAD W W658 4569 LONGBRIDGE LN
LEXINGTON, KY 40515
(859) 457-1451 Active KY
SPEARS, JAMES C W717 143 TUFTS LN
FAKKUBG WATERS, WV 25419
(304) 274-3720 Active KY
GAGE, KERRY R X236 195 MITCHELL DRIVE
VINE GROVE, KY 40175
(270) 635-3870 Active KY
CLOYD, RUSSELL G X533 10960 EAST BEND RD
UNION, KY 41091
(859) 586-9170 Active KY
POYNTER, ROBERT X985 4389 MARY INGLES HIGHWAY
COLD SPRING, KY 41076
(859) 802-8561 Active KY
CHILDERS, MICHAEL S Y141 185 RAVENSWOOD DRIVE
ELIZABETHTOWN, KY 42701
(270) 737-4226 Active KY
BOWLING, JACK J Z723 P.O. BOX 88
BONNYMAN, KY 41719
(606) 436-6214 Active KY
COREY SR, DAVID L Z912 777 LOCKHOUSE ROAD
FALLING WATERS, WV 25419
(304) 274-9000 Active KY

 

 


Text/call 502-905-3708

kentuckyloan@gmail.com

 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 
http://www.nmlsconsumeraccess.org/
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/

— 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.