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Kansas Mortgage Savers Programs
Sedgwick County Housing Department

Program Overview

Kansas Mortgage Savers Programs is a program that provides a federal tax credit for first-time homebuyers in Kansas. A tax credit is a dollar-for-dollar deduction of federal income tax liability. State of Kansas

Who is eligible for this program?

Must be a 1st time homebuyer and meet certain income guidelines. Must obtain loan approval through a lending institution that uses the Kansas Savers Program. Contact Ranson Housing Compliance for details. Income Eligibility varies by county. May apply the savings from the tax credit towards your tax home pay. Or, may apply all or a portion of the savings to the principal mortgage loan. Is this program for first time buyers only? Yes

Property Eligibility Requirements

Available statewide. The county in which you purchase must elect to participate in the program. The sales price cannot exceed $ Varies. Contact Ranson Housing Compliance for more details. . Allowable property types: Single Family, Condo, Townhouse

Benefit Details

For example, a person who purchases a house for $140,000 and obtains a mortgage loan with a 6% interest rate. In the first calendar year, that person would pay about $8,400 in interest on the mortgage. If he/she can qualify for a 20% tax credit and this person's tax liability will be $1,680 or more, then he/she will received the full $1,680 tax credit. Can receive either a 15% or 20% tax credit. Benefit: Reduction in federal tax liability. Can receive either a 15% or 20% tax credit on the interest paid on the mortgage. The tax credit cannot exceed your federal income tax liability. Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes Other Program Comments: Can use this program in conjuntion with other 1st time homebuyer programs.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.