Homeownership

For all Kentucky Housing Corporation (KHC) loans, a Kentucky home buyer must apply through a KHC-approved lender to work with our loans. We partner with approved lenders across the state to provide you with the best mortgage loan options. By doing this, the buyer will know how much house they can afford based on income and debts. KHC’s loans are subject to certain restrictions that the lender will see if meet the qualifying guidelines. Additionally, the lender will be able to recommend any KHC down payment assistance for which you may qualify.

 

After meeting with an approved lender you will know how much house you can afford. You can start looking for a home in Kentucky to buy.  Although you can choose to look on your own, it can be beneficial to utilize the services of a real estate professional, an expert who knows which homes can meet your requirements and preferences. Once you have found a house and made an offer to purchase and have an accepted purchase contract then it is time to meet back with the lender to officially get the loan process started.

 

Once all the loan paperwork is completed, your loan file will be reviewed by an underwriter. The underwriter decides whether to approve your loan. Once it's approved, your lender will schedule your loan closing where you and the seller will finalize the sale.