KHC Loans – An Excellent Opportunity for Kentucky Homebuyers
If you are looking to buy a home, the options can be a bit overwhelming at times. Additionally, even with all those options, it can sometimes feel like there is no way you would qualify for a loan. Luckily, Kentucky residents have an excellent resource to make home buying easier and more affordable—KHC. KHC (Kentucky Housing Corporation) is a public corporation striving to make home ownership a possibility for Kentucky residents.
What Does KHC Achieve
KHC administers housing assistance programs to assist low and moderate income families. So far, KHC has invested over $771 million in housing solutions for Kentucky residents. One of the best-known programs is the KHC lending system. Additionally, KHC offers counseling, improved energy efficiency and other services to residents.
Two Loan Types
KHC offers two distinct types of loans—Mortgage Revenue Bond (MRB) and Secondary Market. MRB loans are 30-year fixed rate mortgages with income and other requirements. However, they can be easier to qualify for than other lending types. Secondary Market Loans are also 30-year loans, and have fewer requirements—but may be harder to achieve qualification.
KHC partners with approved lenders to help get potential buyers in the best loan for their situation. Since the KHC loans have restrictions in place, it is important that as a buyer you discuss these details with a knowledgeable lender, such as Liberty Financial. Additionally, these lenders can help you determine if you might qualify for down payment assistance or other optional programs.
While there are many lenders to choose from, it makes sense to choose a company that has extensive experience working with KHC loans. Liberty Financial is a top lender, offering expertise with many different types of loans. If you would like to sit down and talk with an expert, contact us at Liberty Financial today. We can help you determine if a KHC loan is the right choice for you—and start bringing you closer to your goal of home ownership.