From the KPA News Content Service
Gov. Steve Beshear Tuesday announced that the Kentucky Housing Corporation, the state housing finance agency, is offering the lowest rates in its 40-year history.
“With rates this low and down payment and closing costs assistance, Kentuckians who thought they would not be able to own a home now have an opportunity,” Beshear said in a press release from his office. “I encourage potential homeowners to contact KHC to learn more about this unique financing opportunity. These low rates will not last.”
For a limited time, rates are as low as 3.375 percent, with a 30-year, fixed-rate term. KHC also has a program for down payment and closing costs assistance with a special rate of 3.625 percent.
KHC works with customers to simplify the home purchasing process. Buyers work with a network of KHC-approved lenders and banking institutions that help the buyer throughout the purchasing process. There are also over 1,000 KHC-certified real estate agents that are committed to helping their buyers find affordable home-financing solutions. A list of lenders and real estate agents is available on KHC’s website at www.KYHousing.org.
“Kentuckians can feel comfortable purchasing a home through KHC,” said Richard L. McQuady, chief executive officer of KHC. “KHC home loans start with us and end with us. When homeowners make a payment or call about their loan, they are talking to a KHC staff person at our office in Frankfort.”
Kentucky Housing is able to offer these low rates through an extension of the New Issue Bond Program, a federal bond purchase program provided by the U.S. Department of Treasury.
To learn more about this and other options available to potential home buyers through KHC, visit www.kyhousing.org, or contact KHC’s Homeownership Department toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 291, or TTY 711.
