Did you know that Louisville Metro has a program that offers up to 20% of the purchase price in down payment assistance for buyers who meet program guidelines?

The Louisville Metro Down Payment Assistance Program provides low- to moderate-income homebuyers with down payment and closing cost assistance for purchasing a home in the Louisville Metro area. Funds can be applied to the purchase of an existing or newly constructed home and are NOT limited to first-time homebuyers.

Income eligibility above is current as of 9August2022. To speak to a loan officer, click the image.

To be considered for eligibility

1. Homebuyer(s) already pre-approved for a mortgage from a local financial institution.

2. Homebuyer(s) credit - no unpaid collections, past due balances or un-discharged bankruptcies. (Exception: Medical collections up to $10,000.00.)

3. Homebuyer(s) has at least $1,500 in savings.

4. Homes eligible for assistance must meet the Home Ownership Value Limits below.
   
   

Home prices listed above are current as of 9August2022. To speak to a loan officer, click the image.

How to Apply

1. Complete homebuyer counseling (6-hr minimum) from a HUD-approved counseling agency. If applying with co-applicant, both must complete. Married couples must apply as co-applicants.

2. Apply to the Down Payment Assistance Program by clicking the green button below. Please allow 30 days for Metro review and verification.

3. Homebuyer(s) receives letter of eligibility, stating entrance or denial into Homebuyer Assistance Program.

4. Homebuyer(s) engages Realtor to assist in home search.

5. Upon an accepted sales contract, homebuyer(s) submits Home Purchase Packet, executed sales contract, and primary loan documents to Metro.

6. Metro staff underwrites the loan and presents to the Case Review Board.

7. Homebuyer(s) receives conditional commitment letter from Metro, stating the amount of assistance available to purchase that home.

8. Metro Office of Housing inspector coordinates with Realtor. Home must receive a passing inspection in order to receive Metro assistance.

9. Lender, Realtor, and Metro coordinate with the homebuyer to close on the home.