is for any applicants that are purchasing an existing or newly constructed home in Jefferson County. You do not have to be a first time buyer to qualify.
applicant(s) must attend HUD approved homeownership classes in order to obtain the required certificate and to qualify for the down payment assistance. Contact one of the agencies listed below for counseling. Since each situation is unique you may talk to your loan specialist for details.
Applicant(s) approved through Housing Choice Homeownership Program are also eligible.
The property purchased by the homebuyer must be occupied as their principal residence and cannot be mixed use, or business conducted there.
The property purchase price may not exceed the median area appraised value as published by HUD. (203b guidelines).
Prior to approval of the second mortgage, the property to be purchased will be inspected for code violations and a lead safe living environment. Louisville Metro Housing & Community Development shall be listed as the second loss payee on homeowners insurance. Taxes and insurance must be escrowed. Under no circumstances will funds from the mortgage result in cash back to the borrower(s), nor will the sum of all financing exceed 100% of the property cost plus any normal prepaid loan expenses.
Newburg Revitalization Project
$4,000.00 on a matching basis may be provided in the form of a Forgivable Mortgage, to cover the down payment for those households at 71% to 80% of the median income. Assistance may not exceed $4,000.00.
- Louisville Ky Down Payment Assistance Program Mortgage (louisvillemortgagerates.wordpress.com)
- Louisville Mortgage Down Payment Assistance (Louisville Metro) (louisvillekymortgage.net)
- Kentucky Zero down Mortgage Loans (kentuckyfirsttimehomebuyer.com)
- Homeowners in 50 States Now Have a One-Stop Website and Phone Number to Find Out if They Qualify for Federal Mortgage Assistance (prweb.com)
- 10 Reasons to Buy a Home (lookatlakeoconee.wordpress.com)
- Country Moving Toward ‘Rentership Society’: Is The American Dream In Trouble? (huffingtonpost.com)
- Is It Racist If Everyone Doesn’t Own a House? (lewrockwell.com)
- USDA/Rural Housing Guidelines in Kentucky (louisvillekymortgage.net)