Kansas Housing Resources Corporation
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First Time Home Buyers Program
What the Program Does:The First Time Homebuyers Program (FTHB) provides down payment assistance to qualified Kansas buyers for the purchase of their first home. The program is for persons who have incomes at or below 80 percent of the median income for their area. The loan may be from 15 to 20 percent of the purchase price of the home, awarded on a sliding scale, depending on the applicant’s income level. Buyers are expected to make a minimum investment of $500 or two percent of the sale price, whichever is greater. Private lenders process the second mortgages in conjunction with the first mortgage financing. Who the Program Helps:Income-eligible, first time homebuyers planning to reside outside the following Kansas entitlement areas: Topeka, Wichita, Lawrence, Kansas City, or Johnson County. How It Works:Interested applicants apply directly to a participating lender (See lenders by county list in right hand column). The participating lender assists the applicant in completing the required paperwork/steps to apply for the first time homebuyer down payment assistance program. Funding Cycle:Applications are accepted on a first come, first served basis March 1st and Sept. 1st, until funds are depleted. Eligible Entities:Eligible individuals purchasing their first home. Key Statistics:Granted funds so that 270 homes were purchased, assisting 696 persons. Awarded $3,633,071 in the form of downpayment assistance. The downpayment assistance leveraged $18,743,589 in first mortgage funds. Last year assisted 217 home purchases. Contact Information:Christine Reimler Related Programs:American Recovery and Reinvestment Act of 2009 (ARRA) |  |
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