Kansas relies heavily on local support to administer its home buyer programs to its residents. Cities like Bonner Springs, Hutchinson, Kansas City, Lawrence, Topeka, and Wichita all have various home buyer mortgage programs and down payment assistance programs. Typically, access to these programs is through local participating lenders.
As A First Time Home Buyer Can I Get Mortgage and Down Payment Assistance in Kansas?
Qualified Kansas first time home buyers can get down payment assistance from the Kansas Housing Resources Corporation. Additionally, if you are a home buyer looking to purchase a home in rural Kansas there are a few resources specifically designed with you in mind that comes in the form of 100% financing and closing cost assistance as necessary.
No matter what programs you seek, there are income and in some cases purchase price limits that have to be considered. Additionally, as previously stated check with your local mortgage lender and banker in your area to find out what local home buyer programs are available to you.
The Kansas Housing Resources Corporation provides a down payment assistance program in the form of a second mortgage that covers at least 15% up to 20% of the home purchase price. This type of program eliminates the need for Private Mortgage Insurance in the situation where a home buyer has little to no money of their own to use for down payment and closing costs. This program requires that the home buyer have $500 of their own money, or two percent of the sales price whichever is greater.
The Kansas First Time Home Buyer Program
This program is designed for these individuals or families who have incomes at or below 80 percent of the median income for the area where they plan to purchase a home. This program is also designed for those first time home buyers who plan to live outside the following Kansas entitlement or target areas of Johnson County, Kansas City, Lawrence, Topeka, and Wichita.
To get additional information about down payment assistance programs, or to find out more about mortgage programs please complete the information below:
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