Kentucky First Time Home Buyer Loans That Don't Require a Downpayment.
See list of programs below
Kentucky VA Loans
Kentucky USDA Loan
Kentucky FHA Mortgages
Down Payment Assistance Loans & Products for Kentucky Home Buyers (DPAs)
Federal Housing Administration (FHA)
position & require input into LP/DU as subordinate financing. DAP funds can never be used to
pay for repairs. Once you have determined the loan type it’s time to see which of the two KHC
Down payment assistance programs your borrower is eligible for. Follow the easy steps
1. Check to see the household income falls under the Affordable DAP Income Limits:
If yes then the borrower qualifies for the Affordable DAP up to $4,500. Affordable DAP
is amortized over 10 years at 1%. Must go to maximum LTV allowed on first mortgage
amount. Borrower must qualify with second mortgage payment. If no, then proceed to
2. Check to see if the applicant(s) income falls under the Secondary Market Income Limits.
If yes the borrower is eligible for Regular DAP up to $6,000 in $100.00 increments with
a minimum $500.00 loan amount. Regular DAP is amortized over 10 years at 5.50%.
Must go to maximum LTV allowed on first mortgage amount. Borrower must qualify with
second mortgage payment.
Senior Loan Officer