Eligibility

To qualify for a MRB KHC loan, you must meet the following requirements:

Annual household income must fall within the MRB income limitations for your county and family size.
Be a U.S. citizen, other national or qualified alien person.
Have the ability to provide a down payment or qualify for down payment assistance.
Have an acceptable credit history.
Can be a first-time buyer or repeat homeowner (if the property is located in a Targeted County).

To qualify for a Secondary Market KHC loan, you must meet the following requirements:

Meet GNMA income limits for your county.
Be a U.S. citizen, other national or qualified alien person.
Have the ability to provide a down payment or qualify for down payment assistance.
Have an acceptable credit history.
Can be a first-time buyer or repeat homeowner.

Property - for both MRB and Secondary Market Loan Programs
The home you wish to purchase must meet the following guidelines:

Borrower must occupy the home within 60 days of closing and for duration of loan.
New or previously occupied detached, single-family home
New or previously occupied condominium, townhouse or attached unit in a planned unit development. (Check with lender for eligible condominiums.)
New or previously occupied manufactured housing, single or double wide, permanently affixed to the foundation and taxed as real estate (must meet loan type's foundation requirements).
One-acre maximum on lot size unless acreage waiver is obtained. (MRB Only)

New and Existing Homes.............................................. $243,000

Existing Homes ONLY................................................... $195,700