The Federal Home Loan Bank’s 2024 Welcome Home Grant Funds Applications will be available beginning on March 1, 2024 (must have an accepted sales contract, signed mortgage loan application, & financial income documentation to apply).
Up to $20,000.00 per Buyer (minimum $10,000.00), or up to $25,000.00 for Veterans (minimum $15,000.00) while funds last (as it is a first come – first serve until the allotted funds are depleted).
Eligibility Information below:
Welcome Home Funds can be used with ANY loan program that allows Gift Funds
Single-family, townhouse, condominiums, & duplex housing is eligible (as long as it is not in disrepair) for their Primary Residence Purchase
Buyer does not have to be a first-time home buyer to qualify; first-time home buyers must complete a home buyer counseling program
Buyer must use at least $500 of their own funds toward the down payment or closing costs
Accepted Sales Contract must have a closing date of 6 weeks after March 1, 2024 (as the Federal Home Loan Bank requires 4 – 6 weeks for approval to be issued)
Buyers must live in this home for at least 5 years. If not, when the home is sold, Welcome Home Grant will be prorate the funds that must be paid back
Total Household Income must be under the following amounts for the Counties listed below (which the property is located):
1 -2 Person Household 3+ Person Household
Kentucky
Jefferson $ 71,760.00 $ 82,524.00
Anderson $ 69,016.00 $ 79,368.00
Bullitt $ 71,760.00 $ 82,524.00
Franklin $ 68,344.00 $ 78,595.00
Hardin $ 69,400.00 $79,810.00
Henry $ 71,760.00 $ 82,524.00
Nelson $ 68,136.00 $ 78,356.00
Oldham $ 71,760.00 $ 82,524.00
Shelby $ 74,160.00 $ 85,284.00
Spencer $ 71,760.00 $ 82,524.00
Trimble $ 69,416.00 $ 79,828.00
I would love to work with you & your buyers to secure these funds for their purchase.
Please feel free to contact me with any questions or concerns.
Have a wonderful day!
Sincerely,
Kim Powell
Republic Bank
VP, Mortgage Loan Originator
NMLS # 419182
ph: 502-562-8861
fax: 502-498-1221
email: kpowell@republicbank.com
To start an application please visit my webpage:
https://mortgage.republicbank.com/kpowell
This sheds light on credit scores and how banks use them to lend money to good credit risks. So much depends on prompt payments and paying down the balance.
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