I too understand that funds are out and expected in September. Once the funds are available, your approved offer is sent to the KC DReam Group. They will send out an inspector and once the property has passed thier inspection, you are just about ready to close. I would say that you should allow for about 2 weeks to 30 days for closing. Assuming funds become available, I would say your closing needs to be at the end of the month, because we don't know what exact date the funds will be in.

Just wanted to also give you the income requirements/restrictions.

Maximum income by family size:

1 person - $39,400
2 people - $45,050
3 people - $50,650
4 people - $56,300
5 people - $60,800
6 people - $65,300
7 people - $69,800
8 people - $74,300

I actually have a question that stems from this one - How long does the process take to apply for the funds once you figure out which house you want to buy? It's my understanding that the KC Dream Project is out of funds right now, but is expecting them again in September. I am awaiting a reply on my offer and am planning on closing (if it's accepted) on or around September 15. Will I have time to apply for funds in September before my closing or is it a lengthy process? I fit the criteria otherwise, and would hate to miss out on this opportunity...

Hello Marg. To answer your questions specifically...the program is for homes of $150,000 or less only within the city limits of KC MO. It is not neighborhood specific. Buyers must qualify. The loan amount is for up to 20% of the purchase price not to exceed $20,000. You only pay back that which remains of the 10 year commitment of 10% per year if you sell. For more specific info. I suggest you speak with a qualified lender. I've assisted several buyers with home purchases utilizing the KC Dream Home Program and absolutely love it! I highly recommend that you speak with Matt Wilson of Bank of America. I've tried several of the lenders on "the list" but have chosen to use Matt exclusively as he has been the most helpful and efficient. You may contact him by phone at 816-529-1978 or contact me anytime...always happy to help. Again, I'm a Realtor not a lender so please verify the info. that I've given with a qualified lender.

The home has to be in the city limits of Kansas City. Maximum down payment amount is $20,000. You will pay back what is left on the mortgage. 5 yrs would be 50%. Please feel free to call me with additional questions.