KHC recognizes that down payments, closing costs, and prepaids 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.
Regular DAP
- Purchase price up to $349,525 with Secondary Market.
- Assistance in the form of a loan up to $7,500 in $100 increments.
- Repayable over a 10-year term at 3.75 percent.
- Available to all KHC first-mortgage loan recipients.
Affordable DAP
- Purchase price up to $349,525 with Secondary Market.
- Assistance up to $7,500.
- Repayable over a 10-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.