Down Payment Closing Cost Assistance
Regular DAP
- Purchase price up to $283,900 with Secondary Market or $255,500 with MRB.
- Assistance in the form of a loan up to $6,000 in $100 increments.
- Repayable over a ten-year term at 5.50 percent. A DAP of $6,000 over ten years at 5.50 percent interest would equal a payment of $65.12.
- Available to all KHC first-mortgage loan recipients.
Affordable DAP
- Purchase price up to $283,900 with Secondary Market or $255,500 with MRB.
- Assistance up to $4,500.
- Repayable over a ten-year term at 1.00 percent.
- Borrowers must meet Affordable DAP household 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.
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The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer--- Not all products or services mentioned on this site may fit all people.
