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Newport, Ky. Affordable Home Ownership

The Campbell County Fiscal Court and Newport Millennium Housing Corporation, an affiliate of the Housing Authority of Newport, are accepting applications for the Campbell County Homebuyer Assistance Program.  
This program provides low to moderate income buyers the opportunity to purchase new construction, 3 and 4 bedroom homes with full basements, 1 1/2 baths, 9 foot ceilings and off street parking.  These homes are priced at $123,000 to $128,000. 
Buyers are given a $40,000 "soft second" mortgage which is forgiven at a rate of $5000 per year.  The buyer is not responsible for payments on this mortgage and need only secure a first mortgage in the range of $90,000 to qualify for the purchase. 
Other qualifications include:
         Applicants must have a favorable credit and rental history
         Applicants must be able to secure a first mortgage from a private lender
         Applicants may not now own a home
         Applicants must successfully complete Homebuyer Education training
         Applicants must have been employed for at least the past twelve (12) months
         Applicants may not have any felony, violent crime and/or drug-related criminal history
         Applicant annual gross household income must fall within these limits:
                 1 Person Household                      $18,536 to $37,050
... more

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