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$15,000 HHF DAP
Kentucky Housing Corporation (KHC) is proud to announce a new Hardest Hit Fund Down payment Assistance Program (HHF DAP), available with new reservations on or after Wednesday, January 20, 2016.
HHF DAP Guidelines:
- $15,000, 0 percent interest, forgivable second mortgage loan with a five-year term.
- No limit on first mortgage amount.
- Property (new or existing) must be located in one of the four counties:
- Christian
- Hardin
- Jefferson
- Kenton
- Secondary Market Purchase Price and Income Limits apply.
- Borrower must be a first-time home buyer (no ownership interest in the last three years).
- Pre-purchase home buyer education required.
- Dodd-Frank Affidavit must be completed (will print with loan reservation).
The HHF DAP will utilize a GFE, TIL, and HUD-1, since it does not meet TRID regulations. These documents will be provided through KHC's Loan Reservation System.
KHC's Program Guides have been updated to reflect this new HHF DAP. KHC also has marketing fliers for the HHF DAP on KHC's website, under Lenders, Lender Resources.
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Inauguration Day
KHC offices will be closed Tuesday, December 8, for the inauguration of Governor-Elect Matt Bevin. TPO loan closings and loan purchases will not take place on this day. KHC offices will reopen at 8 a.m. on Wednesday, December 9.
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Mortgage Action Alliance
Memberships in Mortgage Action Alliance (MAA) are entirely free. Active members receive MAA's newsletters and other information designed to keep you informed of the latest policy and political developments affecting the real estate finance industry and your career. Sign up for MAA Membership and become member today.
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