Newport, Ky. Affordable Home Ownership

By
Real Estate Agent with CENTURY 21 Garner Properties

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

                 2 Person Household                      $21,184 to $42,350

                 3 Person Household                      $23,832 to $47,650

                 4 Person Household                      $26,480 to $52,950

                 5 Person Household                      $28,598 to $57,200

                 6 Person Household                      $30,716 to $61,400

 

 

 

  I am the Listing Agent for the Housing Authority of Newport and am offering these new construction homes for sale as well as a number of fully renovated existing construction units to be completed in the future.

Please don't hesitate to call if you have questions or would like additional information.

I can be reached at 859-363-9900 (office), 859-462-0544 (cell) or by email at frank.sauer@century21.com

 You can also visit my website:  http://campbellcountyhomes.com

 

For additional information on this program and others offered by the Housing Authority of Newport, visit the website:  http://nhaky.org

 

 

 

 

 

 

 

 

 

 

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Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTORĀ® - Charlottesville Virginia Homes / Horse

Frank - Its great to see a community that has good programs to help these people be able to become homeowners.  What a good project to be affiliated with.

May 15, 2008 12:59 PM #1
Rainer
8,849
Frank Sauer
CENTURY 21 Garner Properties - Independence, KY

Thanks Pam -

We're closing on the 5th unit tomorrow at noon and we have 8 more under contract awaiting completion.  A total of up to 54 will be built along with an additional number of rehab properties.

Newport is very visionary and industrious when it comes to improving its' housing situation and it is a pleasure to work with them.

May 15, 2008 01:24 PM #2
Rainmaker
2,191,704
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

And I have been to Newport, KY. It's where my husband lived for a while when we were dating -- in an area of homes near the redlight district -- all Victorians. I thought it was a very pretty neighborhood.

May 16, 2008 10:14 AM #3
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Rainer
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Frank Sauer

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