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Our hearts are with all of the victims and families who have been impacted by the devastation of Hurricane Harvey. In the wake of this storm, we stand with our fellow neighbors with Hurricane Harvey Relief Resources to help those who have been displaced.

Home Buyers

Loan Programs

Loan Programs

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KHC offers two different funding sources: Secondary Market and MRB.

SECONDARY MARKET FUNDING SOURCE

  • First-time and repeat homebuyers statewide
  • 30-year fixed interest rate
  • Principal residence ONLY
  • Purchase Price Limit:  $282,000
  • Borrower must meet KHC's Secondary Market Income Limits
  • Minimum credit score of 660
  • 3 percent down payment and no up-front or monthly mortgage insurance
  • All KHC DAPs applicable
  • No minimum borrower contribution
  • No reserves required
         
  • Minimum credit score of 660
  • 3 percent down payment
  • Monthly mortgage insurance (charter coverage)
  • All KHC DAPs applicable
  • No minimum borrower contribution
  • No reserves required
         
  • Insured by the Federal Housing Administration
  • 3.5 percent down payment
  • All KHC DAPs applicable
  • Upfront and monthly mortgage insurance
  • Minimum credit score of 620

Two FHA Refinance Options (Available only through Secondary Market)         

  • Credit qualifying Streamline Refinance and Rate/Term Refinance
    • Insured by the Federal Housing Administration
    • Cash back to borrower not to exceed $500
    • Upfront and monthly mortgage insurance
    • Minimum credit score of 620
         
  • Guaranteed by the Veterans Administration for qualified military veterans
  • No down payment if the property appraises for the sales price or greater
  • All KHC DAPs applicable
  • Minimum credit score of 620
  • No monthly mortgage insurance payments
         
  • Guaranteed by Rural Housing Services (RHS)
  • Home must be located in a rural area as defined by RHS
  • No down payment if the property appraises for the sales price or greater
  • All KHC DAPs applicable
  • Upfront and monthly mortgage insurance
  • Minimum credit score of 620
         

MRB FUNDING SOURCE

  • 30-year fixed interest rate
  • Principal residence ONLY
  • Purchase price limit:  $253,800
  • Borrower must meet MRB income guidelines
  • Some MRB KHC loans are subject to a federal recapture tax. However, KHC has implemented a Recapture Tax Guarantee Program for all loans that close after October 1, 2006.  The Recapture Tax Guarantee Program will reimburse homeowners if they are subject to pay the Federal Recapture Tax on their KHC mortgage loan upon the sale of their home.
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