Wes Black, Real Estate Pro in Louisville, KY

Is Jeffersontown still popular for first time buyers and why?

Asked by Wes Black, Louisville, KY Fri Sep 27, 2013

Yes it is. Great location near restaurants and shops. Home values holding steady or slowly increasing. Proximity to Gene Snyder is critical. Look for some bargains here.

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Joel Lobb, Mortgage Broker Or Lender, Louisville, KY
Thu Oct 10, 2013
We talked a great deal about the different combinations using an FHA/KHC first mortgage with down payment assistance (DAP). The DAP’s are in the form of a second mortgages, some forgivable over time and one that must be repaid. Kentucky Housing DAP’s range from $4,500 to $6,000.
This is how it works.
The first mortgage is an FHA/KHC loan for 96.5% of the purchase price.
The DAP is a second mortgage for 3.5% of the purchase price.
The seller can pay all of the closing cost and pre-paids.
The borrower only needs to pay for an appraisal (unless the seller pays for that too).
Inside scoop for you, I spoke to my source in Louisville Metro last week, they are expecting funding for their DAP program in July. Last year it was $10,000 a pop plus another $2,000 for closing costs. This program requires FHA home ownership classes so sign up soon if you want to grab this round.

Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
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