Down payment Assistance for Kentucky First Time Home buyers 2022


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 home buyer 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
    ECONDARY MARKET
    GROSS ANNUAL APPLICANT’S INCOME LIMITATIONS
    Secondary Market Purchase Price Limit — $346,644

    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

Kentucky USDA Single Family Housing Foreclosed Homes For Sale


via Kentucky USDA Single Family Housing Foreclosed Homes For Sale 2018

County Address Sale Date Reschedule Date
HENDERSON      
  600 LARUE RD 1/12/2022  
  HENDERSON, KY 42420    
       
HENRY      
  44 NEW STREET 5/10/2019 1/7/2022
  NEW CASTLE, KY 40050-3071    
       
JEFFERSON      
  2307 FUST AVE 7/5/2019 1/4/2022
  LOUISVILLE, KY 40216    
       
  9700 MICHAEL EDWARD DRIVE 10/25/2019 1/4/2022
  LOUISVILLE, KY 40291    
       
  1540 BERRY BLVD 4/17/2020 1/4/2022
  LOUISVILLE, KY 40215    
       
  1708 JEFFERSON AVE 4/17/2020 1/4/2022
  LOUISVILLE, KY 40242    
       
  10011 KEYS FERRY RD 10/12/2021 2/1/2022
  LOUISVILLE, KY 40118    
       
  1322 HUNTOON AVE 1/18/2022  
  LOUISVILLE, KY 40215    
       
  903 DENMARK ST 1/18/2022  
  LOUISVILLE, KY 40215    
       
  911 1/2 DRESDEN AVE 1/18/2022  
  LOUISVILLE, KY 40215    
       
  2601 PIONEER RD 1/18/2022  
  LOUISVILLE, KY 40216    
       
  4806 WESTSIDE DR 1/18/2022  
  LOUISVILLE, KY 40219    
       
  2602 ROYSTER WAY 1/18/2022  
  LOUISVILLE, KY 40258    
       
  8106 TERRY RD 1/18/2022  
  LOUISVILLE, KY 40258    
       
  9905 SCRIM AVE 1/18/2022  
  LOUISVILLE, KY 40272-3356    
       
  7009 TRAIN STATION WAY 1/18/2022  
  LOUISVILLE, KY 40272-4664    
       
  5303 PENDLETON ROAD 2/1/2022  
  LOUISVILLE, KY 40272    
       
  5511 EUCLID AVE 2/1/2022  
  LOUISVILLE, KY 40272    
       
KENTON      
  308 E 39TH ST 1/11/2022  
  COVINGTON, KY 41015    
       
  110 STONEHINGE CIRCLE 1/11/2022  
  COVINGTON, KY 41017        
       
MADISON      
  142 ALLEN DOUGLAS DR 4/24/2019 1/26/2022
  RICHMOND, KY 40475    
       
NELSON      
  451 THIRD STREET 1/19/2022  
  NEW HAVEN, KY 40051    
       
OHIO      
  556 HUMBLE VALLEY ROAD 1/10/2022  
  HARTFORD, KY 42347    
       
PIKE      
  80 HAPPY VALLEY ROAD 1/12/2022  
  SOUTH WILLIAMSON, KY 41503-4007    
       
SCOTT      
  118 DEVIN DR 1/25/2022  
  GEORGETOWN, KY 40324    

Search Results for HUD Homes in KY

  
 
13 listings found      
List        Gallery   
Save Search Email Search   View Map Export to     Display:  
5
 
10
 
20
 
 
  Property Case Address Price Status Bed Bath Listing Period Bid Open Date Details   
201-405318 409 Mildred Ave
South Shore, KY, 41175
Greenup County
$65,000 3 1.10 Extended  01/04/2022 View Street
Map it
Email Info
201-443322 99 Falls Br
Belfry, KY, 41514
Pike County
$98,000   3 2.00 Extended  01/04/2022 View Street
Map it
Email Info
201-492365 9655 Marshall Rd
Ryland Hght, KY, 41015
Kenton County
$137,700 2 1.00 Extended  01/04/2022 View Street
Map it
Email Info
201-503574 13913 Harbour Pl
Prospect, KY, 40059
Oldham County
$168,000 3 3.00 Exclusive  01/07/2022 View Street
Map it
Email Info
201-574687 2444 Bardstown Rd
Lawrenceburg, KY, 40342
Anderson County
$118,000 3 3.00 Exclusive  01/04/2022 View Street
Map it
Email Info
201-585835 2215 Sharon Rd
Ashland, KY, 41101
Boyd County
$90,000 3 2.00 Extended  01/04/2022 View Street
Map it
Email Info
201-612315 2718 Cumberland Ave
Ashland, KY, 41102
Boyd County
$125,145 3 2.10 Extended  01/04/2022 View Street
Map it
Email Info
201-617955 841 S Hwy 3
Louisa, KY, 41230
Lawrence County
$139,500 2 2.00 Extended  01/04/2022 View Street
Map it
Email Info
201-619887 2878 1st Street
Petersburg, KY, 41080
Boone County
$81,000 3 1.00 Extended  01/04/2022 View Street
Map it
Email Info
201-631020 465 Kennedy Rd
New Haven, KY, 40051
Larue County
$165,000   3 2.00 Exclusive  01/04/2022 View Street
Map it
Email Info
201-648672 882 Whippoorwill Ro
Paintsville, KY, 41240
Johnson County
$150,000   3 2.00 Extended  01/04/2022 View Street
Map it
Email Info
201-654741 801 E Broad Street
Central City, KY, 42330
Muhlenberg County
$93,960 4 2.10 Extended  01/04/2022 View Street
Map it
Email Info
201-663813 1501 Old Henderson Rd
Providence, KY, 42450
Webster County
$134,000   3 2.00 Exclusive  01/06/2022 View Street
Map it
Email Info
 
 

 Kentucky Fannie Mae-owned Homes. We are an approved Kentucky Fannie Mae HomePath lender. If you’re looking to buy a foreclosure–see list below by clicking on the link for Fannie Mae Foreclosed Homes in Kentucky

 

👇👇

https://www.homepath.fanniemae.com/cfl/property-finder?bounds=36.497129,-89.571509,39.147458,-81.964971&state=KY&min-price=900000

 
Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
 
American Mortgage Solutions, Inc.
10602 Timberwood Circle 
Louisville, KY 40223
Company NMLS ID #1364
 
 

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

 
 

http://www.emailmeform.com/builder/form/0bfJs9b6bK8TGoc6mQk9hIu


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/