Kentucky KHC Conventional Loan Programs Checklist
A detailed checklist for homebuyers applying for the Kentucky KHC Conventional Loan Programs in 2025.
Verify Your Eligibility
- Ensure your household income is within the Kentucky Housing Corporation (KHC) program's maximum income limits, which vary by household size and location.
- Confirm your credit score meets the program’s minimum requirement, typically 640 or higher, though additional criteria may apply as specified by your assigned Loan Officer.
- Verify that the property you intend to purchase meets the program’s eligibility requirements, including being within the maximum price limit and serving as your primary residence.
- Check additional program-specific requirements, such as homebuyer status or geographic eligibility.
Prepare Required Documentation
- Gather proof of income, such as recent pay stubs, W-2 forms, or other income documentation for all household members.
- Provide copies of your federal tax returns for the last two years, including all supporting schedules.
- Collect bank statements from the past two to three months for all financial accounts.
- Prepare property details, including the address, signed purchase agreement, and estimated sale price.
- Submit any additional documents requested by your Loan Officer, such as proof of assets, debts, or other liabilities.
Coordinate with Your Assigned Loan Officer
- A Loan Officer will be assigned to assist you throughout the application process for the Kentucky KHC Conventional Loan Programs.
- Schedule an initial consultation with your Loan Officer to review the program’s eligibility requirements and documentation needs.
- Ask your Loan Officer any questions about program benefits, required steps, or application timelines.
- Work with your Loan Officer to ensure all required documentation is collected and submitted accurately.
Complete Your Application
- Collaborate with your Loan Officer to complete your application for the KHC Conventional Loan Programs.
- Provide all necessary documents to verify your eligibility for down payment or closing cost assistance.
- Review your application with your Loan Officer to confirm it is complete and accurate before submission.
- Complete any mandatory homebuyer education courses required by the program.
Finalize Your Enrollment
- Sign all required documents provided by your Loan Officer to confirm your participation in the program.
- Plan for any costs not covered by the program, such as additional closing fees or other prepaid items.
- Receive confirmation of your enrollment and details about how assistance will be applied to your home purchase.
Maintain Program Compliance
- Ensure the purchased property remains your primary residence for the duration specified by the program.
- Notify your Loan Officer if you plan to sell, refinance, or make changes to your mortgage, as this may impact your program benefits.
- Stay informed about any updates or changes to program requirements to maintain compliance and retain your assistance benefits.