This Down Payment Assistance Program is offered to those in Louisville by the Department of Housing and Community Development.
Assistance is offered in the form of a loan.
In order to be considered for this program, and applicant must fall within the below total household annual income limits as of 2020:
- 1 person household: $37,200
- 2 person household: $42,500
- 3 person household: $47,800
- 4 person household: $53,100
- 5 person household: $57,350
- 6 person household: $61,600
- 7 person household: $65,850
- 8 person household: $70,100
Applicants also must be approved for a mortgage and be creditworthy.
Applicants cannot have more than $15,000 in liquid assets.
Finally, applicants must complete homebuyer education.
Depending on the amount of the loan, the property must be the borrower’s primary residence for between 5 and 15 years. Only vacant or abandoned homes can be purchased with this program.
Other programs in Kentucky:
- Covington Homebuyer Assistance Program
- Hardest Hit Fund Down Payment Assistance
- Your Kentucky Home Program