We are pleased to work with our members to help them take advantage of valuable down payment assistance toward the purchase of a home. The Welcome Home Grant is open to qualified applicants purchasing a home in select counties of Kentucky, Indiana, Ohio, and Tennessee. Funds become available on March 2, 2020.
Grant Program Guidelines:
- $5000 in grant money can be used for closing costs, pre-paids, and down payments.
- $5000 allotments may be available to qualified applicants on a first come, first served basis.
- Grant can be applied to any of our mortgage products, including the First Time Home Buyer’s program. **
- Income guidelines based on the county where the home is located and are available for all counties in KY, IN, OH & TN.
We’ve listed a few below:
- Jefferson, Bullitt, Oldham Counties, KY
max. $61,120 for 1-2 person household / $70,288 for 3+ person household.
- Shelby County, KY
max. $60,960 for 1-2 person household / $70,104 for 3+ person household.
- Spencer County, KY
- max. $73,344 for 1-2 person household / $85,568 for 3+ person household.
- Clark & Floyd County, IN
max. $76,400 for 1-2 person household / $87,860 for 3+ person household.
- Knox, Pulaski, Rockcastle, Whitley Counties, KY
max. $60,192 for 1-2 person household / $70,224 for 3+ person household.
- Laurel County, KY
max. $50,160 for 1-2 person household / $57,684 for 3+ person household.
- Boone, Campbell, Kenton Counties, KY
max. $65,040 for 1-2 person household / $74,796 for 3+ person household.
$7500 for Honorably Discharged Veterans and
Active Duty Military Homebuyers is also available!
- Limited amount of grant money available. Grant is forgiven upon residency of 5 years and 1 day. If property is sold within the first five years, grant money is prorated for repayment. Home must be owner occupied. Homebuyers must contribute $500+ of their own funds (60% can be a gift). Inquire with L&N for more information.
- * First Time Home Buyers are required to complete an approved homebuyer counseling program.
NMLS ID# 531738
For more information on the Welcome Home Grant program, contact our Mortgage Department at (800) 292-2905 or (502) 368-5858. Or, email us at firstname.lastname@example.org.