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HHF DAP - A Huge Success!
Kentucky Housing Corporation's (KHC) Hardest Hit Fund (HHF) Down payment Assistance Program (DAP) was once again a huge success! KHC currently has 505 HHF DAP reservations. We would like to thank our top lending producers and all of the lending partners who helped KHC provide affordable homeownership opportunities to Kentuckians in these areas with this special down payment assistance.

Top Originating Lenders:
  • Century Mortgage Company - 59
  • Commonwealth Bank and Trust - 58
  • American Mortgage Service Company - 53
  • Stockton Mortgage Corporation - 46
  • InterLinc Mortgage Services - 34
  • Statewide Mortgage, LLC - 23
  • Stock Yards Bank and Trust - 21
  • Heritage Bank Mortgage Services - 21
Debt Ratio for Conventional Loans
KHC will follow Fannie Mae's guidelines on allowing a DTI of 50 percent without compensating factors. Lenders must run borrower through DU Version 10.1 which will be available the weekend of July 29, 2017. 
Interested Party Contributions (IPC) on Conventional Loans
Effective August 1, 2017, Fannie Mae is raising allowable seller contributions from 3 percent to 4 percent on CLTV's greater than 90 percent only on HFA Preferred and Preferred Risk Conventional loans. The additional 1 percent of the IPC must be used for borrower's closing costs. DU Approve/Eligible required, however lender may disregard any DU messaging because the IPC exceeds the maximum allowable contributions. Lenders must use special feature code 849 in DU. 
VA Loans
Effective immediately, KHC will allow lenders to charge a 1 percent VA Flat Charge in addition to the VA allowable fees. Lenders need to show this fee as VA Flat Charge in the Origination Charges on the LE and CD. This is only applicable for VA loans. All Program Guides have been updated with the above changes, and are available on the Lenders page at

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