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In honor of Christmas Day, KHC offices will be closed on Monday and Tuesday, December 24 and 25, 2018. KHC offices will re-open at 8 a.m. on Wednesday, December 26, 2018.

In honor of New Year’s Day, KHC offices will be closed on Monday, December 31. 2018 and Tuesday, January 1, 2019. KHC offices will re-open at 8 a.m. on Wednesday, January 2, 2019.
 

Home Buyers

Down Payment Closing Cost Assistance

Down Payment Closing Cost Assistance

Effective with new reservations as of Monday, December 10, 2018, properties located in one of the counties considered Middle Appalachia or Lower Mississippi Delta will have access to a $1,500 closing cost grant. Borrowers must be under the specific income limits per the Duty to Serve (DTS) program.

KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

Hardest Hit Fund (HHF) DAP

Available to Christian County only 11/15/2018 

  • Zero percent interest rate for first-time home buyers.
  • A non-repayalbe second mortgage for $10,000.
  • Forgiven after five years.
  • Home purchase must be located in Christian county.
    • No other counties will be eligible.
  • New construction properties are not allowed.
    • ​Property has to have been previously occupied.
  • Applicants must meet Secondary Market Income and Purchase Price Limit.

Regular DAP

  • Purchase price up to $301,294 with Secondary Market.
  • Assistance in the form of a loan up to $6,000 in $100 increments.
  • Repayable over a ten-year term at 5.50 percent.
  • Available to all KHC first-mortgage loan recipients.

Affordable DAP

  • Purchase price up to $301,294 with Secondary Market.
  • Assistance up to $6,000.
  • Repayable over a ten-year term at 1.00 percent.
  • Borrowers must meet Affordable DAP 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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