Habitat for Humanity Pennyrile Region Homeownership Program

Habitat for Humanity Pennyrile Region Homeownership Program is a silent second mortgage for homebuyers in Madisonville, Kentucky, administered by Habitat for Humanity Pennyrile Region, Inc. Habitat for Humanity Pennyrile Region builds and sells affordable homes to qualified partner families across Hopkins, Christian, Webster and Muhlenberg counties, financed with an affordable Habitat mortgage where payments generally do not exceed 30% of gross monthly income. Families complete sweat equity and homeownership workshops. Affordable Habitat mortgage (payments near 30% of income). Homeownership/financial education. Sweat equity in lieu of down payment. Funding comes from Habitat mortgage payments, donations, ReStore, sponsors.

Habitat for Humanity Pennyrile Region Homeownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity Pennyrile Region Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Credit/debts must be in good shape; at least 18 months past any bankruptcy with good credit since. A homebuyer education course is required, through Habitat for Humanity Pennyrile Region (homeownership workshops). Residency requirement: Serves residents of Hopkins, Christian, Webster and Muhlenberg counties. Single regional affiliate covering Hopkins/Christian/Webster/Muhlenberg (covers both 'Christian County/Hopkinsville' and 'Hopkins County'). Applications were closed at time of research (cyclic program) — confirm current window before publish.

Habitat for Humanity Pennyrile Region Homeownership Program sets its income limit as follows: Income must be steady enough to cover mortgage, utilities and upkeep (Habitat guidelines; dollar table not published). The limit applies to total household income, not only the borrower’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.

Habitat for Humanity Pennyrile Region Homeownership Program can be used for Single Family. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity Pennyrile Region Homeownership Program serves homebuyers purchasing in Madisonville, Kentucky.

Applications for Habitat for Humanity Pennyrile Region Homeownership Program go through Habitat for Humanity Pennyrile Region, Inc., which publishes the current terms and the application steps on its own site. Funds are reserved through Periodic application windows. 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.