Secondary Market Eligibility
To qualify for a Secondary Market KHC loan, you must meet the following requirements:
- Meet Secondary Market Income Limits for your county.
- Be a U.S. citizen, other national or qualified alien person
- Have a minimum credit score of 620.
- Be a first-time or repeat homebuyer.
Property Eligibility
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.
- The property purchased must be in Kentucky.
Purchase Price Limitations
Secondary Market First Mortgage Programs and KHC's Homebuyer Tax Credit
Secondary Market New and Existing Homes................$349,525
KHC's Homebuyer Tax Credit.......................................$349,525