Homeownership

• Minimum credit score of 660
• 3 percent down payment
• Monthly mortgage insurance (charter coverage)
• KHC DAP applicable
• No minimum borrower contribution
• No reserves required
• 80 percent AMI in​​come         
  

• Minimum credit score of 660
• 3 percent down payment
• Monthly mortgage insurance (standard coverage)
• KHC DAP applicable
• No minimum borrower contribution
• No reserves required
• Secondary Market Income limits apply
  

• Insured by the Federal Housing Administration
• 3.5 percent down payment
• KHC DAP applicable
• Upfront and monthly mortgage insurance
• Minimum credit score of 620

Refinance Options (Available only through Secondary Market)         

• Credit qualifying Streamline Refinance and Rate/Term Refinance
• Insured by the Federal Housing Administration
• Cash back to borrower not to exceed $500
• Upfront and monthly mortgage insurance
• Minimum credit score of 620         

• Guaranteed by the Veterans Administration for qualified military veterans
• No down payment if the property appraises for the sales price or greater
• KHC DAP applicable
• Minimum credit score of 620
• No monthly mortgage insurance payments
  

• VA IRRRL
  
• ​620 minimum credit score
  
• No appraisal required
  
• 30-year term
  
• VA existing loan
  

• Guaranteed by Rural Housing Services (RHS)
• Home must be located in a rural area as defined by RHS
• No down payment if the property appraises for the sales price or greater
• KHC DAP applicable
• Upfront and monthly mortgage insurance
• Minimum credit score of 620
  

Refinance Options (Available only through Secondary Market)         

• RHS Streamlined-Assist Refinance Program
  
• 620 minimum credit score
  
• No appraisal required
  
• Must have made timely mortgage payments for the last 12 months
  
• 30-year term
  
• RHS existing 502 guaranteed loan​