Mortgage Revenue Bonds (MRB) Eligibility
- Meet MRB Income Limits for your county.
- Be a U.S. citizen or other national or qualified alien person.
- Have a minimum credit score of 620.
- Be a first-time or repeat homebuyer, based on your county.
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.
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Borrower must occupy the home within 60 days of closing and for duration of loan.
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New or previously occupied detached, single-family home (with or without an ADU).
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New or previously occupied duplex, condominium, townhouse, or attached unit in a planned unit development.
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Check with lender for eligible condominiums.
- Check with lender for eligibility of duplexes.
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New or previously occupied manufactured housing, single or double wide, permanently affixed to the foundation and taxed as real estate
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Must meet loan type's foundation requirements.
- The property purchased must be in Kentucky and meet insuring agency guidelines.
Purchase Price Limitations
Secondary Market Mortgage and Mortgage Revenue Bond Programs
- Mortgage Revenue Bonds, New and Existing Homes................$544,232
- Secondary Market, New and Existing Homes............................$544,232