Celebrating National Homeownership Month, Kansas Housing Resources Corporation (KHRC) honored a family of storm survivors planting permanent roots in the Sunflower State. Pam Muntz, her daughter Mary Merhoff, and her children Braiden, Makenna and Jace, lost their home after an EF5 tornado decimated Greensburg last year. Today Pam and her family are rebuilding their lives thanks to the help of down payment assistance made possible through state disaster funds.
“When you’re rebuilding your life, it’s hard to see how things will ever get back to some sense of normal,” said Muntz. “The money from Kansas Housing was a prayer answered and helped make our dream of having a home come true.”
The Homebuyer Purchase/Repair Program offered cash assistance to income eligible Kansans to repair a storm damaged home, buy an existing home or rebuild a new home. Households residing in the new units were required to have income at or below 120 percent of the state median. KHRC provided down payment assistance of up to 20 percent of the home purchase price, with a maximum of $25,000.
Under the program, KHRC placed a soft-second mortgage on the property, but did not require monthly payments. Half of the mortgage is forgiven proportionately over a period of 120 months; and if the original buyer lives in the home for 10 years, the loan does not have to be repaid.
Muntz, a Kansas State University Research and Extension family and consumer science agent, rebuilt her home with the help of a low-interest SBA loan and down payment assistance made possible through state disaster funds. Muntz received $25,000 from KHRC to help pay down payment costs. Pam selected to plant a Canada Red Chokecherry tree as part of the homeownership month festivities.