KC Dream Home Program is back!

By
Real Estate Agent with Chartwell Realty/Urban KC Living

According to the Kansas City Business Journal, September 15, 2008, the Kansas City Dream Home Program is accepting applications again!! This is great news for many Kansas City first time home buyers. This program offers a maximum of $20,000 down payment assistance for those that quailfy. This grant will work as follows:

$20,000 forgivable loan if the owner occupies the home for 10 years. You don't have to pay this amount back!

However, if you don't live there 10 years, this is how it breaks down:

Own and occupy for 1 year - you owe $18,000 back

Own and occupy for 2 year's - you owe $16,000 back

Own and occupy for 3 year's - you owe $14,000 back

Own and occupy for 4 year's - you owe $12,000 back

Own and occupy for 5 year's - you owe $10,000 back

Own and occupy for 6 year's - you owe $8,000 back

Own and occupy for 7 year's - you owe $6,000 back

Own and occupy for 8 year's - you ower $4,000 back

Own and occupy for 9 year's - you owe $2,000 back

Own and occupy for 10 year's - you owe nothing back

You can read the Kansas City Business Journal article at http://www.bizjournals.com/kansascity/stories/2008/09/15/daily8.html?f=et65&ana=e_du

To see if you qualifying for this or other KC area programs, please visit:

http://www.kchomeprograms.com/

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Anonymous
Michelle Rottach

Hi AJ

I passed your name along at the Trulia website. There's a buyer looking for someone who is experienced in the Kansas City Dream Home program.

Good Luck and I hope you can help this buyer - It sounds like he has had a difficult time with the home buying process.

Here's the link to his question.

http://www.trulia.com/voices/Home_Buying/After_two_horrible_realtor_experiences_I_am_in_nee-108243

Apr 07, 2009 01:35 PM #1
Rainer
16,437
AJ Gentry
Chartwell Realty/Urban KC Living - Kansas City, MO

Hi Michelle,

Thank you so much! I appreciate that.

Jul 16, 2009 08:30 AM #2
Anonymous
Tired of KC

This is a horrible program if you are a seller.  The HQS inspector is late, rude, and according to our realtor "sexually inappropriate".  For us, the DREAM program has changed our close date seven (7)times.  They call all the shots and if they change their mind suddenly everything in the transaction has to change and react to what they want.  We are buying a home as we are leaving the one we are selling, so this has created a double mess for us.

This program works well if the house is vacant, cheap, and up to current code.  Otherwise it is a mess for sellers.  I had a friend that had told me it added 6 months to their close date about two years ago.  While it hasn't changed our that much, as a seller it has cost me at least 40 hours of time and an extra $500, plus about three times the stress the transaction should have.

So if you are selling a home and you live in it, say no to the DREAM program.  My wife and I call it the nightmare program.  Simply horrible.

Oct 13, 2009 01:37 AM #3
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Rainer
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AJ Gentry

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