KHC First Time Home Buyers Down Payment Assistance Zero Down
Kentucky Housing Corporation (KHC) still has $4 million in Mortgage Revenue Bond (MRB) Special Funding available! This funding is limited and available on a first-come, first-served basis.
Effective with reservations on or after Monday, January 6, 2014, all households below $35,000 gross annual household income will qualify for the MRB Special Funding interest rates. The rate with DAP will be lowered and the requirement to demonstrate a need by having at least a 25% front ratio has been eliminated.
Program guidelines:
- 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 2.75 percent with DAP.
- Maximum ratios 40/45%.
- 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 $35,000 for all household sizes.
- Follow the 45-day lock with current reservation extension policy.
- The lower interest rate is not guaranteed until the lender receives the updated reservation confirmation.
Appy below for free for this program or call me below with your questions.
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