Housing Down Payment Loans/Grants | City Of Covington
Accepts applications for zero-interest, deferred, forgivable loans up to $10,000 to assist with down payment and closing costs for an owner-occupied home in the cities of Bellevue, Covington, Dayton, Erlanger, Florence, Independence, Ludlow, or Newport.
Categories
Data provided by
211 UWGC
Physical Address
20 West Pike Street, Covington, KY 41011
Hours
mon 8:00am - 4:00pm;tue 8:00am - 4:00pm;wed 8:00am - 4:00pm;thu 8:00am - 4:00pm;fri 8:00am - 4:00pm
Voice
Voice
Application process
Application required. Applications may be completed online.
Fee
No monthly payments. One tenth of the loan will be forgiven for every year the owner occupies the home. Home buyers are still responsible for financing the remainder of the house purchase cost through a conventional lender.
Eligibility
- The borrower's annual household income must not exceed 80% of the area's median income.
- All properties must be one to two units, owner-occupied or vacant, and meet minimum local housing standards.
- The purchase price or appraised value of the home after any repairs must not exceed the purchase price limits established by HUD.
Service area
Independence, Kentucky
Bellevue, Kentucky
Covington, Kentucky
Newport, Kentucky
Erlanger, Kentucky
Florence, Kentucky
Dayton, Kentucky
Ludlow, Kentucky
Agency info
City Of Covington
Local government administrative offices for the city of Covington, Kentucky.