The Kansas Housing Resources Corporation (KHRC) offers potential homebuyers assistance via the First Time Homebuyer Program. By providing eligible applicants with down payment assistance, the program is able reduce the out-of-pocket expenses associated with the mortgage process.

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KHRC First Time Homebuyer Program

Financial Assistance for Homebuyers in Kansas

The Kansas Housing Resources Corporation (KHRC) offers potential homebuyers assistance via the First Time Homebuyer Program. By providing eligible applicants with down payment assistance, the program is able reduce the out-of-pocket expenses associated with the mortgage process.

Available Assistance
Under the KHRC First Time Homebuyer Program, eligible applicants can receive assistance funds between 15 and 20 percent of the total purchase price, depending on their income bracket. This assistance comes in the form of a soft loan that is forgiven over time. The funds can be put toward covering some or all of the down payment of closing costs.

Eligibility Requirements
To be eligible for the KHRC First Time Homebuyer Program, applicants must meet certain requirements. They must, in fact, be first-time homebuyers; those who have owned a home in the last three years cannot qualify for the program. They must fall within the program’s income limits, which vary by location and household size. All applicants are responsible for contributing a minimum investment of 2 percent of property’s total purchase price from their own cash assets.
 
The purpose of this program is to make funds available to eligible applicants who are interested in purchasing a home but need financial help to pay the upfront costs, which include the down payment, as well as the closing costs and prepaid items required to obtain homeownership. These expenses can add up to a substantial amount, and the inability to pay it might keep people stuck in a renters trap.

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price and income limits.

Down Payment Grants in Kansas

The Capitol Federal Closing Costs Assistance Program is available for applicants buying a home located in a Low Income Census Tract. The program provides homebuyers with a grant of up to $1,500, which can be used to cover the closing costs associated with a home purchase.

The Federal Home Loan Bank Down Payment Assistance Program provides income eligible applicants up to $8,000 in assistance funds. It's offered in Kansas by The Community Housing of Wyandotte County to help cover the initial costs of first-time homebuyers.

The Kansas Housing Resources Corporation (KHRC) offers potential homebuyers assistance via the First Time Homebuyer Program. By providing eligible applicants with down payment assistance, the program is able reduce the out-of-pocket expenses associated with the mortgage process.

Sedgwick and Shawnee counties have co-sponsored the Kansas Housing Assistance Program, which offers first-time homebuyers up to 4 percent cash assistance for down payments and closing costs, throughout the state. 

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