REBOUND, Inc. - Affordable Homeownership Program

What is REBOUND, Inc. - Affordable Homeownership Program?

REBOUND, Inc. - Affordable Homeownership Program is down payment assistance for homebuyers in Louisville, Kentucky, administered by REBOUND, Inc.

• REBOUND, Inc. (Rebuilding Our Urban Neighborhood Dwellings) is a Louisville Urban League-affiliated HUD-certified CHDO that builds and sells new affordable homes in West Louisville to low- and moderate-income families. REBOUND pairs homes with city down payment assistance and refers buyers to the Louisville Urban League for HUD-certified homebuyer education.
• New-construction affordable homes in West Louisville.
• Sold paired with city DPA programs.
• HUD-certified homebuyer education via Louisville Urban League.
• CHDO (HOME-eligible).

Do you have to pay it back?

REBOUND, Inc. - Affordable Homeownership Program is down payment assistance and is repaid under the terms set by REBOUND, Inc..

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

REBOUND, Inc. - Affordable Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

REBOUND, Inc. - Affordable Homeownership Program sets its income limit as follows: Low- to moderate-income (LMI) households meeting HUD limits via paired city DPA programs. Exact thresholds determined at DPA application through City of Louisville programs.

• 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.

What kind of home can it be used for?

REBOUND, Inc. - Affordable Homeownership Program can be used for Single Family.

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

Where does it apply?

REBOUND, Inc. - Affordable Homeownership Program serves buyers purchasing in Louisville, Kentucky.

How do you apply?

Applications for REBOUND, Inc. - Affordable Homeownership Program go through REBOUND, Inc., which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Louisville Urban League Center for Housing & Financial Empowerment.

2. 2

   Contact REBOUND, Inc. to reserve funds

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

3. 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.