Making Homeownership Dreams Attainable: The Kansas Housing Assistance Program

Sedgwick and Shawnee Counties have joined forces to sponsor the Kansas Housing Assistance Program, a collaborative effort aimed at assisting first-time homebuyers in overcoming the financial hurdles associated with the upfront costs of a mortgage transaction.

Available Assistance

The Kansas Housing Assistance Program stands as a beacon of support, offering first-time homebuyers across the state an opportunity to receive up to 4% in cash assistance to cover down payments and closing costs. This assistance extends its reach through a range of mortgage options, including 30-year fixed-rate loans with high loan-to-value ratios for FHA (loan-to-value 96.5%), VA (loan-to-value 100%), Rural Development (loan-to-value 100%), and Conventional (loan-to-value 97%) mortgages.

Eligibility Requirements

To unlock the benefits of the Kansas Housing Assistance Program, borrowers must meet specific criteria, including:

• A minimum credit score of 660, with an alternative option of 3% borrower assistance for those with credit scores between 640 and 659.
• First-time homebuyer status, unless the property falls within a Federally Designated Targeted Area*.
• An annual household income that falls within the program's defined income limits, which vary based on household size and location.

Income Limits

For 1-2 person households, the maximum income varies by location:

• Kansas City MSA (Leavenworth, Wyandotte, Johnson, Linn & Miami): $72,800
• Lawrence MSA (Douglas): $74,700
• All Other Areas: $66,700

For 3+ person households:

• Kansas City MSA (Leavenworth, Wyandotte, Johnson, Linn & Miami): $83,720
• Lawrence MSA (Douglas): $85,905
• All Other Areas: $76,705

Property Guidelines

The Kansas Housing Assistance Program opens doors to a variety of property types, including single-family detached homes, duplexes (with one unit owner-occupied), condominiums, and townhomes. These homes must align with maximum purchase price limits, which vary by location:

• Kansas City MSA (Leavenworth, Wyandotte, Johnson, Linn & Miami): $265,609
• All Other Areas: $258,690

This collaborative initiative covers more than 90% of the state, ensuring that aspiring homebuyers have access to the support and resources needed to embark on their homeownership journey.

The Kansas Housing Assistance Program is committed to providing individuals with the tools and financial assistance required to turn their homeownership dreams into reality. By reducing the financial barriers associated with purchasing a home, this program empowers first-time homebuyers to take the crucial step towards homeownership.