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KHRC First Time Homebuyer Program
Kansas Housing Resource Corporation

Program Overview

KHRC First Time Homebuyer Program is a program that provides down payment assistance to qualified Kansas buyers for the purchase of their first home. The program is available in Kansas outside of Johnson County and the city limits of Kansas City, KS.

Who is eligible for this program?

Must not have owned a home during the past three years. Exceptions are: displaced homemakers, who have not worked full-time for a number of years; or a single parent who is legally seperated or divorced and has custody of one or more minor children; or any individual who owns a mobile home that is not on a permanent foundation. Applicant must be at or below 80% of the area median income. Contact the Kansas Housing Resource Corporation for more details. Down payment and/or closing costs. Maximum % of Sales Price: 15 to 30% HUD Median Income Limits: 80% Is this program for first time buyers only? Yes

Property Eligibility Requirements

Program is available to those that meet requirements of being located outside the city limits of the following Kansas entitlement areas: Topeka, Wichita, Lawrence, Kansas City, and all areas of Johnson County. The sales price cannot exceed $ 150,000. Allowable property types: single family, condo, townhome, manufactured homes on permanent foundations, and site-built new construction (non-custom).

Benefit Details

Income eligible homebuyers may apply for a second mortgage loan up to 30% of the purchase price of the home. The assistance may be used for down payments, closing costs, and legal fees associated with the purchase. Buyers are expected to make a minimum investment of $500 or 2% of the sales price, whichever is greater. Benefit: Down payment and closing costs assistance. Owner Occupancy Required: Yes Other Program Comments: Must obtain loan approval through a participating lender. For a list of lenders, go to www.kshousingcorp.org/programs.fthb.shtml.

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