KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program

What is KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program?

KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program is a first mortgage for homebuyers in Statewide, Kentucky, administered by Kentucky Housing Corporation (KHC).

• KHC's Conventional Preferred Plus 80 (HFA Preferred Plus 80) is a 30-year fixed conventional mortgage via Secondary Market, underwritten through Fannie Mae DU. Same structure as HFA Preferred but with standard-coverage MI and higher Secondary Market income limits, serving moderate-to-middle income buyers above the 80% AMI cap. No minimum borrower contribution, no reserves, 3% down.
• Higher income limits than HFA Preferred.
• First-time and repeat buyers statewide.
• No minimum borrower contribution.
• No reserves.
• 3% down.
• Compatible with KHC DAP.

Do you have to pay it back?

KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program is a first mortgage and is repaid under the terms set by Kentucky Housing Corporation (KHC).

• 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.

Who qualifies?

KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program sets its income limit as follows: Secondary Market Income Limits (applicant income only), eff. June 23, 2025. E.g. Jefferson/Bullitt/Oldham/Spencer $169,050; Fayette area $179,200; Boone/Campbell/Kenton area $195,650; other counties $147,350.

• 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?

KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program caps the purchase price at $566,354.

• Eligible property types include Single Family, Condominium, and Duplex.
• New construction is eligible.

Where does it apply?

KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program serves buyers purchasing in Statewide, Kentucky.

How do you apply?

Applications for KHC Conventional Preferred Plus 80 (HFA Preferred Plus 80) First Mortgage Program go through Kentucky Housing Corporation (KHC), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Kentucky Housing Corporation (KHC) to reserve funds

   Funds are reserved through KHC PowerLender (Mon-Fri 10a-9p), and are subject to availability.

2. 2

   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.