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Habitat for Humanity of Madison and Clark Counties - Homeownership Program

Habitat for Humanity of Madison and Clark Counties, Inc. · Richmond, Kentucky

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See what you qualify forOfficial program site →
Income limit

60% AMI

Of area median income; varies by county and household size

What is Habitat for Humanity of Madison and Clark Counties - Homeownership Program?

Habitat for Humanity of Madison and Clark Counties - Homeownership Program is down payment assistance for homebuyers in Richmond, Kentucky, administered by Habitat for Humanity of Madison and Clark Counties, Inc.

  • Affordable homeownership program in which qualified low-income partner families purchase a newly built Habitat home with an affordable 20-30 year mortgage held by the affiliate. Families invest a minimum of 350 sweat-equity hours, complete homeowner education classes and one-on-one financial counseling, and are paired with a mentor. Serves Madison and Clark Counties, KY (Berea, Richmond, Winchester). Equal Housing Opportunity.
  • Affordable Habitat-held mortgage (20-30 year term).
  • No large down payment required (sweat equity in lieu of down payment).
  • Homeowner education and one-on-one financial counseling.

Do you have to pay it back?

Habitat for Humanity of Madison and Clark Counties - Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of Madison and Clark Counties, Inc..

  • Repayment is triggered by Standard mortgage repayment; affiliate retains a right of first refusal and owner-occupancy/resale restrictions until the mortgage is paid in full.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Habitat for Humanity of Madison and Clark Counties - Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Applicant must not have owned a home in the last three years
  • The home is occupied as a primary residence
  • On credit: Credit score of at least 600 (or three tradelines). Collections of $5,000 automatically disqualify; medical collections accepted only if not over $2,500; collections (excluding $2,500 or less medical) must be paid in full within 90 days of conditional board approval. Bankruptcy discharged at least 36 months; foreclosures settled at least 60 months; repossessions at least 18 months old; no unresolvable liens/judgments.
  • A completed homebuyer education course, through Habitat for Humanity of Madison and Clark Counties (in-house homeowner education classes and one-on-one financial counseling)
  • Residency: Must have lived or worked in Madison or Clark County, KY for one continuous year prior to application
  • Citizenship or immigration status: Proof of U.S. citizenship or legal residency required
  • DRAFT (dpa-gap-finder 2026-06-13): staged from primary sources (hfhmcc.org); verify before publishing. Habitat affiliate operates as Madison & Clark Counties (NOT the New York madisoncountyhabitat.org). Mortgage rate/lien terms not published; left blank.

The program excludes

  • Manufactured homes
  • Households above 60% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Habitat for Humanity of Madison and Clark Counties - Homeownership Program limits household income to 60% of the area median income, which varies by county and household size.

  • Maximum (2025): household gross annual income must not exceed 60% of area median income for similar-size families in the county. Minimum: gross monthly income at least $2,400 and annual income at least $28,800 in the prior 12 months. Madison County max by household size: 1=$49,500; 2=$56,600; 3=$63,650; 4=$70,700; 5=$76,400; 6=$82,050; 7=$87,700; 8=$93,350. Clark County max: 1=$59,650; 2=$68,200; 3=$76,700; 4=$85,200; 5=$92,050; 6=$98,850; 7=$105,650; 8=$112,500. $28,800 floor.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Habitat for Humanity of Madison and Clark Counties - Homeownership Program can be used for Single Family.

  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Habitat for Humanity of Madison and Clark Counties - Homeownership Program serves buyers purchasing in Richmond, Kentucky.

How do you apply?

Applications for Habitat for Humanity of Madison and Clark Counties - Homeownership Program go through Habitat for Humanity of Madison and Clark Counties, Inc., which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Habitat for Humanity of Madison and Clark Counties (in-house homeowner education classes and one-on-one financial counseling).

  2. Contact Habitat for Humanity of Madison and Clark Counties, Inc. to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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