Frontier Housing - Mortgage Lending & Homeownership Program

Frontier Housing - Mortgage Lending & Homeownership Program is a first mortgage for homebuyers in Morehead, Kentucky, administered by Frontier Housing, Inc. Frontier Housing is a CDFI and one of the largest affordable home builders and mortgage lenders in northeastern Kentucky, serving 22 counties (founded 1974). It provides FHA/USDA/conventional and in-house CDFI mortgages, no-/low-down-payment options, self-help (sweat equity) housing, and construction. Free financial coaching and credit counseling. Military, emergency, healthcare, and education employees in the region receive a 0.25% rate reduction, up to $400 toward appraisal, and a free credit report. No down payment / 100% financing options. FHA 3.5% down (min 620). Free financial coaching and credit counseling. 0.25% rate discount for military/emergency/healthcare/education employees. Up to $400 appraisal assistance for qualifying professionals. Self-help housing program. Existing, modular, or manufactured homes eligible. Down payment and closing cost assistance available.

Frontier Housing - Mortgage Lending & Homeownership Program is a first mortgage and is repaid under the terms set by Frontier Housing, Inc.. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Frontier Housing - Mortgage Lending & Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 620 for FHA; credit improvement coaching provided; score not an absolute barrier. A homebuyer education course is required. Service area limited to 22 northeastern KY counties (some products statewide). CDFI. Self-help/mutual self-help (Section 523 model) available. HOME-funded borrowers <=80% AMI; moderate-income (80-120% AMI) special products. Ashland office: 1212 Bath Ave, Ste 306/307.

Frontier Housing - Mortgage Lending & Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. HOME-funded projects require <=80% AMI; Frontier also serves 80%-120% AMI with special financing. Not limited to lower-income brackets across its 22 service counties. Specific limits by household size from Frontier directly. The limit applies to total household income, not only the borrower&rsquo;s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Frontier Housing - Mortgage Lending & Homeownership Program can be used for Single Family, Manufactured, and Modular. New construction is eligible. Manufactured homes are eligible.

Frontier Housing - Mortgage Lending & Homeownership Program names veterans, active-duty service members, reservists and National Guard members, educators, firefighters, and healthcare workers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Frontier Housing - Mortgage Lending & Homeownership Program serves homebuyers purchasing in Morehead, Kentucky.

Applications for Frontier Housing - Mortgage Lending & Homeownership Program go through Frontier Housing, Inc., which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.