Are you thinking of buying your first home in Kansas? Would you like information on various programs available to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of Kansas has a program for its residents who are first time home buyers and need help with the down payment and closing costs. This money is available in the form of state grants. This is free money that shouldn’t be passed up! The program amounts can be in the thousands of dollars. Additionally, there are other programs available, it will be well worth your time to educate yourself about the programs available in the State of Kansas.
Kansas First Time Home Buyer State Programs
The agency in Kansas that provides financial assistance is The Kansas Housing Resources Corporation. There is currently only one program available, but the program sometimes runs out of funding and you’ll need to check if any funds are currently available. Because this program does run out of money before the fiscal year ends, you should apply as early as possible once the application process opens again. To find out more details about this program, please visit the Kansas Housing Resources Corporation website page for relevant programs.
If down payment and closing costs are keeping you from purchasing a home of your own, the First Time Homebuyer Program may be able to help. Eligible borrowers can use the forgivable loan to greatly reduce the out-of-pocket expenses associated with buying your first home.
The contact info for the Kansas Housing Resources Corporation is:
Kansas Housing Resources Corporation
HOME Division Director
Phone: (785) 296-4818
Fax: (785) 291-3215
email: [email protected]
Local Programs Throughout Kansas
In addition to the grant programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in Kansas as well. There are multiple programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what home buyer assistance is currently available. For your convenience, simply go to here.
Here is the contact information for the HUD office in Kansas:
Kansas City Regional Office
400 State Avenue
Kansas City, KS 66101-2406
Phone: (913) 551-5644
Fax: (913) 551-5469
There is also these local programs:
1HOP – FIRST TIME HOME OWNERSHIP PROGRAM 1-620-662-8370
“The Interfaith Housing First Time Homeownership Program is an excellent way for individuals and families with low to moderate incomes to purchase a first home.
IHS acquires and rehabilitates, or builds new, single family homes for sale to qualifying first-time homebuyers. Since 1995, IHS built or acquired and rehabilitated 37 single-family homes. Our goal is to sell five homes per year to qualified buyers.
Many people have a steady income but are not able to save enough money for the down payment on a home. Through this program, the small payment of 2% down makes homeownership possible.
Our Creating Assets Savings & Hope Program helps with down payment assistance for first home purchases.”
FHLBank Topeka Homeownership Set-aside Program 1-866-571-8155
“The Homeownership Set-aside Programs (HSP) are down payment assistance programs designed to help first-time homebuyers in rural areas, homebuyers with a disability and existing homeowners in rural federally declared disaster areas purchase a home. FHLBank members are eligible to access HSP funding to assist first-time homebuyers in areas you serve.
Eligible homebuyer requirements:
No cash back in excess of $250 at closing;
Have an income that is 80 percent or less of the area median, based on income of all household members age 18 and over;
First-time homebuyer in a rural area or first-time homebuyer with a disabled household member in rural or urban area or existing homeowner in rural federally declared disaster area;
Complete a homebuyer education/counseling program prior to receiving the funds except for existing homeowners in rural disaster areas;
Provide a minimum down payment of $500; and
Have an income not based on a temporary condition (such as a full-time student).
The maximum HSP subsidy per household in 2012 is $4,000, and the maximum amount each member can request is $250,000 during March and April. However, due to the first-come, first-served structure of the program, members are not guaranteed access to the maximum allowable HSP subsidy of $250,000. Any funds remaining after May 1, 2012, may be requested on a first-come, first-served basis.
For a complete description of the requirements of the program, download the 2012 AHP Implementation Plan in the right sidebar.
Homebuyers can use HSP funds for down payment, closing cost and rehabilitation assistance on a home that is outside the urbanized area of the central city of a Metropolitan Statistical Area (MSA) in Colorado, Kansas, Nebraska and Oklahoma. Contact HCD staff at 866.571.8155 if you are unsure if the property is located in a rural area. Be prepared to provide a street address for the property in question. HSP funds may also be used for down payment, closing cost and rehabilitation assistance for purchase of homes by borrowers with a disabled household member. HSP funds may be used to assist existing homeowners with the cost of repairing or reconstructing damaged property located within rural federally declared disaster areas.”
Kansas City Community Housing Investment Partnership 1-913-573-5127
“The Unified Government of Wyandotte County/Kansas City Kansas, through the Housing and Community Development Department is offering a second mortgage for homebuyers. This program is called the Community Housing Investment Program (CHIP).
CHIP is designed to leverage private mortgage funds to assist targeted income households in purchasing a home. Funds for the second mortgage are provided through Housing Urban and Development HUD/HOME program.
Maximum Purchase Price
A 20% deferred loan is based on the purchase price. Maximum second mortgage $25,000.00 (20% of $125,000.00). Maximum allowable purchase price $271,050.00.
Applicants cannot own any real estate at time of closing”
This Program provides funds to residents of Leavenworth who are planning to become first time home buyers. Applicants must meet income eligibility requirements as defined by HUD and must be the intended (current or future) resident of the property. Additionally, applicants must be credit-worthy and must have received preapproval from a bank or mortgage company to finance a home but need assistance to purchase the property. We are not accepting applications for the program as funds are no longer available. New funds should be available in July 2010.
You can receive up to $12,000 for mortgage principal buy down, closing costs and/or down payment assistance. Residents who meet the low-income guidelines may receive up to $12,000 (limited to 15% of the selling price) in funds toward the purchase of a home; moderate-income level home owners may receive up to $8,000 (limited to 10% of the selling price) in funding toward the purchase of a home. Applicant must be the future owner and resident of the property.”
Topeka Housing and Credit Counseling, Inc. Program 1-800-383-0217
“TOTO is intended to help Topeka residents become homeowners by providing education, financing and home rehabilitation. A home buyer counselor will assist you through the entire process. If you are not eligible, we will let you know what needs to be done in order to qualify. Once your eligibility is confirmed you must attend home owner and maintenance education before looking for a home. For more information, or to print a flyer click here.
Financing for the home purchase and repair will be provided by a participating lender – Capitol Federal, Capital City Bank, Core First Bank & Trust and the City of Topeka Housing and Neighborhood Development. The lender will provide the first mortgage loan. Closing costs will be provided by Federal Home Loan Bank. The City will provide up to $20,000 for repair and purchase cost, or up to $30,000 for homes purchased in one of the four opportunity areas.
• $500 for down payment
• Purchase anywhere in the City of Topeka or in one of four opportunity areas
• Sales price cannot go over $65,000
• Cannot own real estate at time of closing
• Credit readiness and approval
• Budget evaluation will determine affordability
• Attend a total of 12 hours of home buyer and maintenance training before closing”
Wichita HOMEownership 80 Assistance Program (HAP) (316) 268-4685
“The City of Wichita’s HOMEownership 80 Program provides financial assistance with down payments and closing costs for first-time homebuyers in the City’s Homeownership Assistance Areas. The City’s HOME program is made possible with annual funding through an annual federal grant from the HOME Investment Partnership Program.
The purpose of the program is to help citizens achieve the American dream of homeownership and to stabilize our neighborhoods. For more information on the program as well as a program application, visit HOME 80 Program Details.
Applications are being accepted for persons who have entered into a real estate purchase contract subject to down payment assistance through the HOMEownership 80 Program.”