Effective Tuesday, July 18th, Kentucky Housing Corporation announced the availability of their Hardest Hit Fund (HHF) of $10,000 per person that can be applied towards the down payment and closing costs for borrowers located in the Kentucky counties of Christian, Hardin, Jefferson, and Kenton.

Borrowers that qualify will receive $10,000 as a forgivable second mortgage – those funds can be used for assistance towards a down payment, closing costs and prepaids. And, as long as they live in the property for 5 years, the borrower is not required to pay the funds back.

What are the requirements for the Program?

  • Property must be located in Christian, Hardin, Jefferson or Kenton County, Kentucky
  • Borrowers must be first time homebuyers (cannot have owned a home in the last 3 years)
  • Purchase Price Limit is $282,000
  • Income Limits of
    • Christian County – $98,875
    • Hardin County $109,900
    • Jefferson County $116,200
    • Kenton County $130,725
  • Must use in conjunction with a 30 year fixed rate product (FHA, VA, RHS or conventional) to be sold to Kentucky Housing Corporation
  • All borrowers must complete pre-purchase home buyer education in the form of an online, telephone or face to face workshop

Funds will be available on a first-come, first-served basis. We expect the money to go very quickly! Employees are eligible for this product and would receive their normal employee discount on the first mortgage.

Also, remember that qualified mortgage referrals pay .1% of the loan amount – so a $250,000 loan amount would result in a payout of $250.

If you have any questions or know anyone that may qualify for this special funding, please contact us today!

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