Homebuyer Assistance Program

In order to help individuals achieve their dreams of homeownership, the City of Louisville’s Department of Housing and Community Development offers the Homebuyer Assistance Program. This program provides low- to moderate-income homebuyers with a loan to help cover the down payment and closing costs.

Eligibility Requirements
The Homebuyer Assistance Program is available to any individual who is looking to purchase an existing or newly-constructed home in the Louisville Metro area. All borrowers’ annual household income must fall at under 80 percent of the area median income (AMI), adjusted for household size (limits shown below). All applicants must be approved for a qualifying first mortgage from a local financial institution, and be credit qualified. Borrowers with more than $15,000 in liquid assets cannot qualify for the program, as it is meant to help households in need of assistance. Additionally, they must complete a homeownership education course from a HUD Certified Counseling Agency.

While there is no first-time homebuyer requirement, the home being purchased must serve as the borrower’s primary residence for a period of 5 to 15 years, depending upon the amount of assistance received. These homes may be vacant or abandoned properties only.

Income Limits
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

(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information)