New Down Payment Assistance Program for Kentucky Home Buyers
KHC received $3 million to offer a new Down payment Assistance Program (DAP) from the Kentucky Attorney General National Mortgage Settlement Fund.
Effective Friday, August 10, 2012, Neighborhood DAP will be available to all KHC-approved lenders when utilizing a KHC first mortgage program.
The goal is to stabilize neighborhoods by providing more flexible housing solutions for the existing housing stock in the Commonwealth.
Neighborhood DAP
Effective Friday, August 10, 2012, Neighborhood DAP will be available to all KHC-approved lenders when utilizing a KHC first mortgage program.
The goal is to stabilize neighborhoods by providing more flexible housing solutions for the existing housing stock in the Commonwealth.
Neighborhood DAP
- Repayable second mortgage up to $10,000
- 1 percent interest rate amortized over 30 years
- Must be within the GNMA or MRB income limits per first mortgage funding source
- To be eligible for the Neighborhood DAP either:
- The property must have been foreclosed upon.
- The new construction or existing property has been for sale for at least 6 months or more.
- The home buyer has experienced a foreclosure and now their credit qualifies to purchase another home.
Joel Lobb (NMLS#57916)Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
New Down Payment Assistance Program for Kentucky Home Buyers
Apply for a home loan by clicking the link below:It's free and takes less than 5 minutesOr call us at 502-905-3708 for your free application over the phone