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KHC Holiday Hours
Kentucky Housing Corporation (KHC) offices will close at 4 p.m. Wednesday, December 23, and remain closed on Thursday and Friday, December 24 and 25, 2015, in observance of the Christmas holiday. KHC offices will reopen at 8 a.m. on Monday, December 28, 2015.
KHC offices will also close at 4 p.m. on Wednesday, December 30, and remain closed on Thursday, December 31, 2015, and Friday, January 1, 2016, in observance of the New Year's holiday. KHC offices will reopen at 8 a.m. on Monday, January 4, 2016.
KHC Single-Family wishes you and yours a Merry Christmas and a Happy New Year! Thank you for helping us provide housing solutions for Kentuckians in all communities.
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KHC Second Mortgage (DAP) Loans
Delegated/Correspondent Lenders
The DAP closing documents will now be provided in the lender's name.
- The DAP Note has an endorsement provided at the end that will need to be signed over to KHC.
- The lender will also need to print and complete a mortgage assignment, then record it immediately behind the DAP mortgage. DAP mortgages will not be registered in the Mortgage Electronic Registration System (MERS). Please remember, the cost to record DAP Mortgages will increase by the cost of the assignment (approximately $13).
- The Assignment requires a "wet" signature.
- The lender needs to sign and have it notarized, then overnight it to the closing agent to be recorded with the first mortgage DAP.
- The Recording Fee for the DAP will equal actual fees.
- The lender will not need to provide the sellers with a DAP closing disclosure.
Printing DAP Documents
All the DAP TRID documents (LE and CD) are printed from the TRID Documents Printing tab, which is located in the DAP Loan section of KHC's Loan Reservation System.
The DAP Note with Endorsement, Mortgage, Assignment, DAP Temporary Payment Coupons, and DAP Closed Loan Checklist are printed from the Document Printing tab, which is located in the DAP Loan section of KHC's Loan Reservation System.
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$15,000 HHF DAP
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. Purchase contract and application date may be prior to reservation date of 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 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 for all borrowers.
- 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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