Program will Assist Buyers of Manufactured Homes

kentucky_housing_corporationThe Kentucky Housing Corporation (KHC) is offering $6 million in loans at a one percent, fixed-rate, 30-year mortgage for low-to-moderate income homebuyers in the SOAR (Shaping Our Appalachian Region) area of Kentucky, according to an announcement by Lt. Gov. Crit Luallen.

Established in 2013 by Gov. Steve Beshear and Rep. Hal Rogers, the program is open to first-time and repeat buyers of new manufactured and stick-built homes who have a 640 minimum credit score and can qualify for FHA, VA and RHS mortgages. Qualifying buyers must meet Mortgage Revenue Bond income guidelines, as lanereport informs MHProNews.

Manufactured homes must be Energy Star certified. Down payment assistance from $4,500 to $6,000 is available depending upon the qualifications of the buyer, and the price limit for a home is $265,000. The KHC approved lender will help buyers throughout the application process. ##

(Image credit: Kentucky Housing Corporation)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.



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