The Success Stories below, highlight the many KHC programs available to assist Kentuckians. To submit your own KHC Success Story, please submit a Success Story request.
DAP Makes Homeownership More Attainable
Adam and Tiffany St. John were able to utilize the Hardest Hit Down payment Assistance Program (HHF DAP) as first-time homebuyers, in October 2016. The family had been looking to buy a home for a number of years, but unforeseen events complicated the process. In 2013 Adam suffered a heart attack, which forced a career change that encouraged him to return to school. After speaking with Sue Ann McKissick, a lender with Heritage Bank, they realized they qualified for the HHF DAP that helped pay for their down payment and closing costs.
Tiffany said, “This has given our family a forever home. It turned what we thought would just be a dream into reality.” The family’s mortgage for a three bedroom, two bath home, on a three-acre lot is now less than they were paying in rent. Adam said, “It’s wonderful knowing that we made an investment in ourselves. We’re not putting money into anyone else’s pockets, we’re essentially putting money away for ourselves.”
Moving Back Home
As part of its Housing Development Program, KCEOC Community Action Partnership recently finished building a new home for Knox County resident Lenda Smith. KHC allocated $110,000 in HOME Investment Partnerships Program (HOME) funds, as well as $25,738 of Affordable Housing Trust Fund monies for the construction of several home buyer units. HOME funds and Trust Fund monies help buyers, like Lenda, realize the dream of owning a home. These are important programs that create quality housing solutions for Kentuckians and strengthen our communities. Lenda was very appreciative during the ribbon cutting ceremony held in Woolum, Kentucky. Lenda said, “This has given me an opportunity to move back home where I was raised.”
Transition to Self-Sufficiency
Autumn Powell was able to graduate from the Family Self-Sufficiency Program (FSS), which is a voluntary program for people who are receiving housing assistance through the Section 8 Housing Choice Voucher Program administered by KHC. Participants work with case managers to learn skills for job readiness, money management, and homeownership education. This program strengthened Autumn's life in many ways; with commitment and hard work she was able to improve her credit and pay off debt. Autumn said, "With this program I was able to get a decent car, which allows me to keep my job and provide for my family." She tells her friends and family to contact KHC for more information about the FSS Program.
Making Homeownership Affordable
Charles Wine was already working with a lending company that
quoted an interest rate of 3.8 percent when he first learned about Kentucky
Housing Corporation’s (KHC) mortgage loan programs. A partnering lender was
able to explain the Down payment Assistance Program (DAP) and low-interest loan
option offered by KHC. With this information, Mr. Wine was able to obtain a 2.0
percent interest loan through KHC’s special funding. As a first-time home
buyer, Mr. Wine felt satisfied with the ease of the application process and
overall value of savings. Mr. Wine said, “Customers should do a little research
for programs like KHC, for cases like mine, the other mortgage company didn’t
offer it [down payment assistance]. Without the help of KHC, I would have had
to look for a lower-priced house.”
Improvements with Weatherization
After losing her husband, Mrs. Miller was concerned with maintaining her home with only half of her household income. The $500 electric bill was no longer manageable for her budget. A close friend convinced her to call Kentucky River Foothills, who put her in touch with Bluegrass Community Action Partnership. She was placed on the waiting list for the WAP and was told it could be up to two years before she got to the top of the list. Luckily, nine months later, she received that wonderful phone call that she could participate in the WAP.
In partnership with Mr. Brown of JB Remodeling, Mrs. Miller made energy improvements to her Garrad County home. After implementing the recommended changes, she saw a $300 decrease in her electric bill. Christy said, "This program allowed my family, children, and grandchildren to maintain memories by staying in her home, which is priceless to me."
Learn more about WAP by visiting KHC's website under Development, Single-Family, and Weatherization Assistance Program.
Making Homes Energy-Efficient
Bill Ford faced extreme utility fee increases, putting additional stress on his finances. He learned from neighbors about KY Home Performance (KHP). In partnership with Warren Heating and Air, Bill made energy improvements to his home in McCracken County. Bill had always participated in the budget payment plan for his electricity bill. After implementing the recommended changes, he received a $1,500 rebate check from the local utility company, due to overpayment, just months after upgrades were complete. Bill’s energy usage had decreased by more than half! Bill said, "The whole process has been easy and worthwhile and I recommend it to anybody that wants to save money on their power. This is the best way to go!"
Brining Investment to Appalachia
Paige Caudill found a home she wanted to purchase, so she contacted a real estate agent and a lender. While paperwork was being finalized, the real estate agent learned about KHC allocating $8.1 million in special 1 percent financing to provide housing for low- to moderate-income home buyers in Kentucky’s SOAR (Shaping Our Appalachian Region), for which Paige qualified. This special financing saved Paige over $300 on her monthly mortgage payment. As a new homeowner, Paige now has more money she can save or spend in Johnson County, without worrying about her mortgage payment. Paige said, "With the economy how it is, if my husband or I were to lose our job, we could still keep our house thanks to this program."
Housing Kentucky Veterans
Amy Bradley served in the U.S. Navy from 1994-1999. When her husband deserted her with three sons in 2014, taking all their possessions, she struggled to keep her family together. By June 2015, she was facing eviction and the possibility of losing her children. Amy learned about KHC’s VETT Program, using the Housing Choice Voucher for rental assistance, and quickly contacted Clark County Community Services to complete the necessary paperwork. After just a few months, Amy has been able create stability for her and her sons who now live in a quality, single-family rental home in Clark County. Amy said, “Without KHC, not only would I not have a home, I wouldn’t have my children.”
Springfield’s Robertson Building gets $1.6M Facelift
The historic Robertson Building in downtown Springfield, Kentucky, received a $1.6 million renovation, opening the door to a mix of affordable apartments and commercial spaces while infusing new life into the building’s Main Street footprint.
The $1.6 million renovation was made possible with a mix of funds including a Community Development Block Grant, Kentucky Housing Corporation HOME funds, and state and federal historic tax credits. AU Associates Inc. was the lead developer on the project and also contributed additional funding.
The Robertson Building was originally constructed in the late 1800s, serving as an imposing commercial hub in downtown Springfield until the 1980s. The city recently sought funding to help restore the historic building, converting it into seven affordable apartments with a commercial space at the street level.
For more information, read the full article by the Lane Report.
More photos are available on KHC's Facebook page.
Shortly after her divorce, Lesia Holder lost her job through downsizing, and keeping her three children in their Fayette County home became her priority. With the help of REACH Inc., a local nonprofit, Lesia received a forgivable loan through U.S. Department of Treasury awarded to Kentucky as a state hit hard by the foreclosure crisis. KHC will make Lesia's mortgage payments for up to 18 months, preserving her home for her family, while she finds new employment. Lesia said, "It has been a blessing beyond words! I never thought I'd have to use a program like this, but life can turn in an instant."
Making Affordable Homeownership Happen
Beverly Raines rented for many years before pursuing homeownership through a KHC mortgage two years ago. Now she, her son, Barrett, and their dog, Bella, live in a beautiful home in Franklin County. Beverly appreciates having her loan serviced by KHC rather than a call center out of state and enjoys the ease of having taxes and insurance paid through her escrow account. Beverly said, "Having a loan through KHC is so easy and cheaper than rent!"