The Homebuyer Assistance Program provides low- to moderate-income homebuyers with a loan help cover the down payment and closing costs. It's available to any homebuyer that is looking to purchase an existing or newly constructed home in the Louisville Metro area.

FHA Mortgage Loan Rates

October 21, 2018
FHA Rates for October 21, 2018
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Louisville Down Payment Assistance Program

Financial Assistance for Homebuyers in Kentucky

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 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)

*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 Kentucky

Covington, Kentucky offers individuals a Homebuyer Assistance Program that provide income-eligible households with zero-interest, deferred or forgivable loans to assist with buying an owner occupied home. 

The Kentucky Housing Corporation (KHC) recognizes that though many potential homebuyers can afford the monthly mortgage payments on a new house, they don’t have enough money saved up for the down payment. That’s what the new HHF Down Payment Assistance Program aims to help with.

The Homebuyer Assistance Program provides low- to moderate-income homebuyers with a loan help cover the down payment and closing costs. It's available to any homebuyer that is looking to purchase an existing or newly constructed home in the Louisville Metro area.

The Your Kentucky Home initiative offers income-eligible homebuyers across the Commonwealth down payment assistance in the form of a grant, up to 5 percent of the loan amount of their first mortgage.

FREE CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!