If you plan on buying a home, then consider taking advantage of KHC’s Home Buyer Tax Credit. The tax credit provides a dollar for dollar reduction of your federal income taxes, every year you occupy the home. The Tax Credit is equal to 35 percent of the annual mortgage interest paid in a calendar year.
Contact a KHC Tax Credit Approved Lender to start the process.
Applications are accepted by a statewide network of local lenders. Home Buyer Tax Credit is available through FHA, VA, RHS and Fannie Mae, and Freddie Mac Conventional 30-year mortgages at a fixed interest rate. With a Tax Credit from KHC, you will get a direct dollar-for-dollar reduction in your federal income taxes worth 35 percent of the mortgage interest you pay on your mortgage each year. You can still claim the remaining 65 percent of the mortgage interest as a tax deduction.
For more information, contact:
Kentucky Housing Corporation | 1231 Louisville Rd., Frankfort, KY 40601502-564-7630; 800-633-8896 (KY only); TTY 711