Kentucky KHC Hardest Hit Fund Down Payment Assistance Checklist
A detailed guide for homebuyers applying for the Kentucky KHC Hardest Hit Fund Down Payment Assistance Program in 2025.
Verify Your Eligibility
- Ensure your household income is within the limits for the Kentucky Hardest Hit Fund Down Payment Assistance Program, which vary by family size and location.
- Verify that your credit score meets the program’s minimum requirement, typically 640 or higher, though additional conditions may apply as determined by your assigned Loan Officer.
- Confirm that the property being purchased is within the program’s price limits and will serve as your primary residence.
- Check additional eligibility criteria, such as first-time homebuyer status or purchasing a home in a targeted area.
Prepare Required Documentation
- Collect proof of income, such as recent pay stubs, W-2 forms, or documentation for other sources of household income.
- Provide federal tax returns for the last two years, including all supporting schedules and attachments.
- Gather bank statements from the past two to three months for all financial accounts.
- Prepare details about the property, such as the address, signed purchase agreement, and estimated sale price.
- Submit any additional documentation requested by your Loan Officer, such as verification of assets or existing debts.
Coordinate with Your Assigned Loan Officer
- An assigned Loan Officer will assist you throughout the application process for the Kentucky Hardest Hit Fund Down Payment Assistance Program.
- Schedule an initial meeting or call with your Loan Officer to review eligibility requirements and gather an understanding of the steps involved.
- Clarify any questions you have about the program, including specific documentation requirements or deadlines.
- Work with your Loan Officer to ensure all necessary documents are submitted in a timely and accurate manner.
Complete Your Application
- Collaborate with your Loan Officer to finalize your application for the Hardest Hit Fund Down Payment Assistance Program.
- Provide all required documents to verify your eligibility for down payment assistance.
- Review your application with your Loan Officer to confirm it is complete and meets program standards before submission.
- Complete any mandatory homebuyer education courses as required by the program.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to confirm your participation in the program.
- Plan for any out-of-pocket costs not covered by the assistance, such as additional closing fees or prepaid expenses.
- Receive confirmation of your enrollment and details on how the assistance will be applied to your home purchase.
Maintain Program Compliance
- Ensure that the property remains your primary residence for the duration specified by the program guidelines.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as this could impact your assistance benefits.
- Stay informed about any updates or changes to the program to maintain compliance and retain your benefits.