What programs are available? How does this program work? What is required of me? Are payments required on any monies received?  Am I required to use only specified banks or mortgage companies? How do I get started?

There are many options today for first time home buyers, single parents, teachers, civil servants, the experienced buyer and for sellers too !

The first step you must take is to find the right professional that has the knowledge and experience that will be able to provide you with the financing options and program availibility for your needs. We here at Preferred Realty Company of Metro Louisville are the professionals that offer you this.

Some of the programs that are available are:

Down payment assistance up to $30,000.00 to purchase new homes throughout the Louisville/Jefferson county area that are being built and offered through one of the counties developing agencies. This program is income restricted with household size. The assistance is forgiven over a said period of years depending upon the amount of assistance received.

The Federal Home Loan 3 & 1 match. For ever dollar that you the buyer contribute of your own monies it will be matched 3 to 1. To receive the max of $5000.00 you the buyer will need to contribute $1667.00. This includes your earnest money deposit on the contract. This is forgiven after 5 years.

USDA-Rural Housing Guaranteed & Direct Programs. Guaranteed is the 100% financing program to purchase homes out side of Jefferson county. This program has a lower interest rate, not income restricted and is available for  1st time buyers, buyers that own or have owned home in the past. This program can be used to purchase manufactured housing if new and you own the property. The Direct program is income restricted. This program is for the low to very low income households. You could see up to $20,000.00 in assistance. Plus you could be eligible for other assistance programs to combine to use in your purchase. 

KHC- There are many programs under this program. Some are income restricted. There is a $5000 loan to help with closing costs that has to be repaid. This can be used in combination with other programs listed. Or up to $20,000.00 is assistance.

Ameridream- Sellers can contribute up to 10% of the sales price to the buyer to use for down payment or closing costs. Sellers receive a donation credit for participation in this program plus full asking pricing for their property. ( The property must appraise for said price. Sales prices can not be increased to cover contribution. )

Please contact one of our many experienced Realtors at Preferred to schedule an appointment to get started to becoming a home owner