Mortgage Blog

Kentucky Housing Corporation Announces 1% Interest Rates

First Time Home Buyers

On March 18th, 2021 Kentucky Housing Corporation (KHC)  Announced that they are offering 30 year fixed Mortgages at 1% interest rates to qualified buyers.

How to Qualify

First Time Homebuyers (Targeted Counties can also qualify, See Below) Household Gross Income cannot exceed $40,000 Must have a 620 or higher credit score Cannot own any other real estate at the time of closing

 

Targeted Counties 

Adair

Estill

Lee

Owen

Allen

Fleming

Leslie

Owsley

Bath

Floyd

Letcher

Pendleton

Bell

Fulton

Lewis

Perry

Bourbon

Gallatin

Lincoln

Pike

Bovle

Garrard

Logan

Powell

Bracken

Grant

Madison

Pulaski

Breathitt

Grayson

Magoffin

Robertson

Breckenridge

Green

Marion

Rockcastle

Butler

Harlan

Martin

Rowan

Carlisle

Harrison

Mason

Russell

Carroll

Hart

McCreary

Scott

Carter

Henry

McLean

Spencer

Casey

Hickman

Menifee

Todd

Clark

Hopkins

Metcalfe

Trimble

Clav

Jackson

Montgomery

Wayne

Crittenden

Knott

Morgan

Webster

Cumberland

Knox

Nelson

Whitley

Edmonson

Larue

Nicholas

Wolfe

Elliott

Lawrence

Ohio

 

Census Tracts

Boyd County: 301

Campbell County: 501

Daviess County: 2,3

Fayette County: 4

Hardin County: 15

Louisville and Jefferson County: 2, 14, 23, 24, 27, 30, 35, 43.02, 59, 62

McCracken County: 302, 303

Warren County: 102, 103

 

Program Options

The MRB (Mortgage Revenue Bond) funding program is on a first-come, first-served basis.  It starts on Friday, March 19th, 2021. 

Purchase a new or existing construction property (Available for use with the purchase of stick-built homes, manufactured homes, and condos) Select either FHA, VA, or RHS options Use the Affordable Down Payment Assistance Program (DAP) (Affordable DAP provides up to $6,000 for the down payment and closing costs as a repayable loan over a 10-year term) 

 

 

*Source Kentucky Housing Corporation