REACH HOME Program

REACH HOME Program es un préstamo condonable para compradores de vivienda en Lexington, Kentucky. REACH, Inc. is a HUD-approved housing counseling agency / 501(c)(3) headquartered in Lexington's Red Mile area. The REACH HOME Program is the agency's flagship DPA - a HUD HOME-funded forgivable second mortgage of up to $20,000 (1-person), $25,000 (2-person), or $30,000 (3+ person) for first-time homebuyers who reside in any of six Bluegrass counties (Bourbon, Clark, Fayette, Jessamine, Scott, Woodford) and are purchasing a primary residence in Fayette County. 80% AMI ceiling; HOME affordability period (10 years for $15K-$40K range). Pre-purchase homebuyer education provided in-house. The REACH HOME Program provides a forgivable second-mortgage loan to assist eligible Bluegrass-region first-time homebuyers with the down payment and closing costs needed to purchase a home in Fayette County (Lexington). The amount of assistance is sized to the actual amount needed to close the gap, capped by household size: up to $20,000 for a 1-person household, up to $25,000 for a 2-person household, and up to $30,000 for a 3-or-more-person household. Funded with federal HUD HOME pass-through dollars from LFUCG (Lexington-Fayette Urban County Government). The loan carries 0% interest, requires no monthly payments, and is forgiven over the HUD HOME affordability period (10 years for assistance amounts in the $15,000-$40,000 range per 24 CFR 92.254). REACH is a HUD-approved housing counseling agency and provides the required pre-purchase homebuyer education in-house. Los fondos provienen de Federal, HOME y City.

REACH HOME Program se perdona después de 10 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Forgiven over the HUD HOME affordability period (10 years for $15,000-$40,000 assistance per 24 CFR 92.254). If property is sold, transferred, refinanced (cash-out), or vacated before the period ends, recapture per HUD HOME rules. La ayuda se registra con un gravamen en posición 2nd Lien. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

REACH HOME Program está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: Standard HUD HOME exceptions to the 3-year FTHB rule apply: displaced homemakers, single parents who only owned a home with an ex-spouse, and prior owners of manufactured homes without permanent foundations. Sobre el crédito, el programa indica: No published REACH-imposed minimum FICO; participating first-mortgage lender overlays apply (typically 620-640). Se requiere un curso de educación para compradores de vivienda, a través de REACH, Inc. - HUD-approved housing counseling agency. REACH provides the required pre-purchase homebuyer education in-house and via eHome America online (www.ehomeamerica.org/reachky). Certificate of completion required before closing. Requisito de residencia: Buyer must be a resident of Bourbon, Clark, Fayette, Jessamine, Scott, or Woodford County for at least one year prior to home purchase. Purchased home must be located in Fayette County (Lexington) and must be borrower's primary residence. Ciudadanía o situación migratoria: Per HUD HOME federal eligibility - U.S. citizen or qualifying non-citizen. Eligible client must be a resident of one of six Bluegrass counties for at least one year prior to home purchase: Bourbon, Clark, Fayette, Jessamine, Scott, or Woodford. The home being purchased must be located in Fayette County (Lexington). First-time homebuyer required (HUD HOME standard - no homeownership in past 3 years; standard HOME exceptions for displaced homemakers and single parents apply). Household income at or below 80% AMI for the Lexington-Fayette MSA per HUD HOME limits. Must complete REACH's required homebuyer education program. Property must be owner-occupied as primary residence and meet HUD HOME property standards (HQS / NSPIRE). Pre-1978 housing subject to lead-based paint clearance under HUD Lead Safe Housing Rule. Funding is subject to availability under LFUCG's annual HUD HOME allocation; applications may be paused when funding is exhausted (e.g., LFUCG First-Time Homebuyer page noted funds exhausted as of May 2025, with future open application periods).

REACH HOME Program limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 80% AMI for Lexington-Fayette MSA per HUD HOME limits (varies by household size). Verify current year limits with REACH or LFUCG Housing Advocacy & Community Development. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

REACH HOME Program limita el precio de compra así: Subject to LFUCG / HUD HOME 95%-of-area-median purchase-price limit for the Lexington-Fayette MSA (verify current limit with REACH); first-mortgage product loan limits also apply. Los tipos de propiedad elegibles incluyen Single-family detached, condominium, townhouse, half of duplex (one side owner-occupied), manufactured home on permanent foundation, and new construction - all per HUD HOME property type rules. La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

REACH HOME Program menciona a veteranos, miembros del servicio militar activo, reservistas y miembros de la Guardia Nacional y cónyuges sobrevivientes entre los grupos a los que atiende. Aparecer aquí significa que el programa menciona al grupo, no que pertenecer a él baste por sí solo para que un solicitante califique; las demás reglas de elegibilidad siguen aplicándose.

REACH HOME Program atiende a compradores de vivienda que compran en Lexington, Kentucky.

Las solicitudes de REACH HOME Program se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Eligible buyers contact REACH at 859-455-8057 to enroll in homebuyer education and apply for HOME funds. Subject to availability under LFUCG's annual HUD HOME allocation (funding has been exhausted in past program years - check current status). Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.