Kentucky Down Payment Assistance (DPA)
Kentucky Housing Corporation (KHC)
Program Overview
KHC offers down payment assistance to help cover upfront costs. Amount is up to 4% of loan amount or $6,000 (whichever is less). This is a forgivable loan forgiven after 5 years if you remain in the home. Covers down payment and/or closing costs. Only repaid if you sell, refinance, or move within 5 years. Must be combined with KHC first mortgage loan.
Eligibility Requirements
• Must be combined with KHC first mortgage loan\n• Subject to KHC mortgage program eligibility\n• Occupancy requirement: remain in home 5 years for full forgiveness
Additional Requirements
• Must have KHC mortgage loan\n• Complete homebuyer education\n• Standard mortgage documentation
How to Apply
1. Apply for KHC mortgage through approved lender\n2. Request Down Payment Assistance as part of loan package\n3. Lender coordinates DPA with mortgage\n4. Receive DPA funds at closing\n5. Remain in home 5 years for full forgiveness