To Qualify for Kentucky Housing you must make Lower than their Income Limits.  A borrower must also  Credit and Ratio Qualify

Down Payment Assistance Programs for Mortgage Revenue Bond (MRB) Programs

• Regular Down payment Assistance Program (DAP)
• Purchase price up to $237,000.
• Assistance in the form of a loan that is equal to 4 percent of the purchase price.
• Available to all KHC first mortgage loan recipients.
• Repaid over 10 years at the same low rate as the first mortgage loan.
• KHC's regular income guidelines.

KENTUCKY HOUSING CORPORATION 2008 GROSS ANNUAL HOUSEHOLD INCOME LIMITS Effective February 13, 2008
The income limitations listed below are imposed by federal law. Failure to comply with them may create adverse consequences for Kentucky Housing Corporation and its bondholders.
Funding Source: New Bond Funds (Purchase Price Limit – $237,000)
Person(s) per household	(1 or 2)	(3 or more)	Person(s) per household	(1 or 2)	(3 or more)
Anderson	63,200	72,680	Henry	71,280	83,160
Ballard	51,800	59,570	Jefferson	59,400	68,310
Barren	51,200	58,880	Jessamine	63,500	73,025
Boone	66,200	76,130	Kenton	66,200	76,130
Bourbon	76,200	88,900	Larue	63,240	73,780
Boyd	51,200	58,880	Laurel	51,200	58,880
Boyle	63,480	74,060	Livingston	51,200	58,880
Bracken	79,440	92,680	Lyon	51,200	58,880
Bullitt	59,400	68,310	Marshall	54,000	62,100
Caldwell	51,200	58,880	McCracken	52,900	60,835
Calloway	51,200	58,880	McLean	65,880	76,860
Campbell	66,200	76,130	Meade	51,200	58,880
Carroll	65,880	76,860	Mercer	54,300	62,445
Christian	51,300	58,995	Muhlenberg	51,200	58,880
Clark	76,200	88,900	Nelson	66,960	78,120
Daviess	54,900	63,135	Oldham	59,400	68,310
Edmonson	64,680	75,460	Pendleton	79,440	92,680
Fayette	63,500	73,025	Scott	76,200	88,900
Franklin	63,600	73,140	Shelby	65,500	75,325
Gallatin	79,440	92,680	Simpson	52,700	60,605
Garrard	62,040	72,380	Spencer	71,280	83,160
Grant	63,840	74,480	Taylor	51,200	58,880
Graves	51,200	58,880	Trigg	51,300	58,995
Greenup	51,200	58,880	Trimble	71,280	83,160
Hancock	54,900	63,135	Union	53,100	61,065
Hardin	52,700	60,605	Warren	53,900	61,985
Harrison	63,000	73,500	Webster	71,760	83,720
Henderson	59,800	68,770	Woodford	63,500	73,025
For all other counties not listed above: 61,440 (1 or 2 persons) 71,680 (3 or more persons)
Funding Source: New Construction Program for Single Parents, Disabled and Elderly Households
Income Limit $28,000 for households of 1-2 persons or $33,000 for households of 3 or more people Low 1%-4% Rate.  Borrower Must Credit Qualify.  Program not offered in all Counties.  Money for program is not gauranteed and only offered once a year through a drawing.						Purchase Price Limit $115,000

• HOME-DAP
  • Purchase price up to $195,700.
  • Assistance up to $4,500
  • No monthly repayment; forgiven over five years.
  • Existing homes only.
  • Borrowers must meet HOME-income guidelines.
• Please Note $10,000 DAP Runs out fast and a borrower must Credit Qualify
• HOME Special Program
  • Purchase price up to $195,700.
  • Assistance up to $10,000
  • No monthly repayment; forgiven over five years.
  • Existing homes only.
  • Borrowers must meet HOME-income guidelines.
  • Eligible borrowers include:
    • Households that include a person with a permanent disability and who receives disability income (SSI, SSDI, Veterans Disability etc.).
    • Households where at least one of the home buyers is age 62 or older.
• HOME Family Program
  • Purchase price up to $195,700.
  • Assistance up to $10,000
  • No monthly repayment; forgiven over five years.
  • Existing homes only.
  • Borrowers must meet HOME-income guidelines.
  • Eligible borrowers include:
    • Single- and two-parent households that have at least one dependent child under the age of 18 living in the household and that are first-time home buyers (have not owned a home or had an ownership interest in a home in the last 3 years).

2008 GROSS ANNUAL HOUSEHOLD INCOME LIMITS WHEN HOME PROGRAM FUNDS ARE USED Effective April 1, 2008
Purchase Price Limit When HOME Funds Are Used – $195,700
Person(s)		(1)				(2)				(3)					(4 or more)
Adair, Bath, Bell, Breathitt, Casey, Clay, Clinton, Cumberland, Elliott, Estill, Floyd, Fulton, Green, Harlan, Hart, Jackson, Johnson, Knott, Knox, Laurel, Lawrence, Lee, Leslie, Letcher, Lewis, Lincoln, Magoffin, Martin, McCreary, Menifee, Metcalfe, Monroe, Morgan, Owsley, Perry, Pike, Powell, Pulaski, Rockcastle, Russell, Wayne, Whitley and Wolfe														22,950			26,250			29,500	32,800
Bullitt, Henry, Jefferson, Oldham, Spencer and Trimble														33,250			38,000			42,750	47,500
Bourbon, Clark, Fayette, Jessamine, Scott and Woodford														35,550			40,650			45,700	50,800
Boone, Bracken, Campbell, Gallatin, Kenton and Pendleton														37,050			42,350			47,650	52,950
Other Counties
Person(s)	(1)		(2)		(3)		(4 or more)		Person(s)		(1)		(2)			(3)			(4 or more)
Allen	25,100		28,700		32,250		35,850		Larue		29,500		33,700			37,950			42,150
Anderson	35,400		40,450		45,500		50,550		Livingston		27,800		31,750			35,750			39,700
Ballard	29,000		33,150		37,300		41,450		Logan		27,500		31,450			35,350			39,300
Barren	25,650		29,300		33,000		36,650		Lyon		27,950		31,900			35,900			39,900
Boyd	26,300		30,100		33,850		37,600		Madison		32,650		37,300			42,000			46,650
Boyle	29,600		33,850		38,050		42,300		Marion		25,300		28,900			32,550			36,150
Breckinridge	25,950		29,700		33,400		37,100		Marshall		30,250		34,550			38,900			43,200
Butler	24,550		28,050		31,550		35,050		Mason		26,200		29,950			33,700			37,450
Caldwell	25,100		28,700		32,250		35,850		McCracken		29,600		33,850			38,050			42,300
Calloway	27,850		31,800		35,800		39,750		McLean		30,750		35,100			39,500			43,900
Carlisle	23,350		26,700		30,000		33,350		Meade		27,850		31,800			35,800			39,750
Carroll	30,750		35,100		39,500		43,900		Mercer		30,400		34,750			39,100			43,450
Carter	25,000		28,550		32,150		35,700		Montgomery		25,850		29,500			33,200			36,900
Christian	28,750		32,850		36,950		41,050		Muhlenberg		23,400		26,750			30,100			33,450
Crittenden	25,150		28,750		32,350		35,900		Nelson		31,250		35,700			40,200			44,650
Daviess	30,750		35,100		39,500		43,900		Nicholas		24,550		28,100			31,600			35,100
Edmonson	30,150		34,500		38,800		43,100		Ohio		24,750		28,300			31,800			35,350
Fleming	23,150		26,450		29,750		33,050		Owen		26,900		30,700			34,550			38,400
Franklin	35,650		40,700		45,800		50,900		Robertson		25,300		28,900			32,550			36,150
Garrard	28,950		33,100		37,200		41,350		Rowan		24,000		27,400			30,850			34,250
Grant	29,800		34,050		38,300		42,550		Shelby		36,700		41,900			47,150			52,400
Graves	26,150		29,900		33,600		37,350		Simpson		29,500		33,700			37,950			42,150
Grayson	23,050		26,350		29,650		32,950		Taylor		23,400		26,750			30,100			33,450
Greenup	26,300		30,100		33,850		37,600		Todd		25,650		29,300			33,000			36,650
Hancock	30,750		35,100		39,500		43,900		Trigg		28,750		32,850			36,950			41,050
Hardin	29,500		33,700		37,950		42,150		Union		29,750		34,000			38,250			42,500
Harrison	29,400		33,600		37,800		42,000		Warren		30,150		34,500			38,800			43,100
Henderson	33,500		38,300		43,050		47,850		Washington		27,950		31,900			35,900			39,900
Hickman	26,050		29,750		33,500		37,200		Webster		33,500		38,300			43,050			47,850
Hopkins				25,750				29,450				33,100						36,800

More about down payment and closing costs:

• No liquid asset review and no limit on borrower reserves for Regular DAP.
• Borrowers may retain two months’ house payments in reserve while using available funds first before looking for any form of HOME DAP assistance.
• Specific credit underwriting standards may apply to down payment programs.

 Kentucky Housing History

Kentucky Housing Corporation, created by the 1972 General Assembly, is a self-supporting, public corporation of the Commonwealth of Kentucky administratively attached to the Finance and Administration Cabinet.  A portion of Kentucky Housing's funds are derived from the interest earned through the sale of tax-exempt mortgage revenue bonds.  From these proceeds, Kentucky Housing has made homeownership possible for over 82,000 Kentucky families.  Kentucky Housing also operates through the receipt of fees for administering federal programs including rental assistance that makes safe, decent, affordable housing available to more than 27,000 low-income Kentuckians.  Other programs additionally offered by Kentucky Housing include rental housing production financing, homeownership education/counseling and a variety of rental assistance, housing rehabilitation and home repair initiatives.

Kentucky Housing Corporation, as the state housing finance agency, is committed to putting people first as we continue to build partnerships and push the boundaries of traditional housing provision and support methods.