Newsletter Oct 13, 2009
DOWN PAYMENT ASSISTANCE
I am sure by now you know about the Down Payment Assistance Program offered by the
Louisville Metro Department of Housing and Family Services, right?
If you haven’t or don’t know enough about it, YOU SHOULD!
The $8,000 Federal Tax Credit is set to expire in 42 days and we
need something to take its place. Here are some of the program highlights:
need something to take its place. Here are some of the program highlights:
->The program offers Metro Wide assistance, and homebuyers may qualify for a forgivable mortgage over a five (5) year period of 10% of the purchase price of the home to a maximum of
$10,000!
->In the “Target Area” neighborhoods homebuyers may qualify for a forgivable mortgage over a ten (10) year period of 20% of the purchase price of the home to a maximum of $20,000!
->The Department has also allocated closing cost assistance in the amount of up to $2,000!
->Potential homebuyers must be a 1st time homebuyer and have not owned a home within the last 3 years.
->Applicants can purchase an existing or a newly constructed home in the Louisville Metro area.
->The program is based on a first come first serve basis.
->Applications will be accepted year round based on available funds.
->As of today, there are plenty of funds available and there is currently NO waiting list.
Think about what will happen when the $8,000 federal tax credit expires on November 30th.
We have all of the information and guidelines, as well as the application packets, ready for your Buyer to begin the process with Louisville Metro Department of Housing and Family Services!
We specialize in Down Payment Assistance Programs like this one as well as others offered with KHC (Kentucky Housing Corporation).
We can find the right program for you and your Buyer.
$10,000!
->In the “Target Area” neighborhoods homebuyers may qualify for a forgivable mortgage over a ten (10) year period of 20% of the purchase price of the home to a maximum of $20,000!
->The Department has also allocated closing cost assistance in the amount of up to $2,000!
->Potential homebuyers must be a 1st time homebuyer and have not owned a home within the last 3 years.
->Applicants can purchase an existing or a newly constructed home in the Louisville Metro area.
->The program is based on a first come first serve basis.
->Applications will be accepted year round based on available funds.
->As of today, there are plenty of funds available and there is currently NO waiting list.
Think about what will happen when the $8,000 federal tax credit expires on November 30th.
We have all of the information and guidelines, as well as the application packets, ready for your Buyer to begin the process with Louisville Metro Department of Housing and Family Services!
We specialize in Down Payment Assistance Programs like this one as well as others offered with KHC (Kentucky Housing Corporation).
We can find the right program for you and your Buyer.
Jason Thompson
502-774-0117
NMLS #196475
Chris DeMuth
502-777-6267
NMLS# 148312
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1 comment:
Down payment assistance programs offer home buying assistance for home buyers who can be approved for a home loan but who can’t afford the down payment and closing costs needed to complete the purchase.
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