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Eligibility

Secondary Market Eligibility

To qualify for a Secondary Market KHC loan, you must meet the following requirements:

  • Meet Secondary Market Income Limits for your county.
  • Be a U.S. citizen, other national or qualified alien person
  • Have a minimum credit score of 620.
  • Be a first-time or repeat homebuyer.

Property Eligibility

The home you wish to purchase must meet the following guidelines.

  • Borrower must occupy the home within 60 days of closing and for duration of loan.
  • New or previously occupied detached, single-family home.
  • New or previously occupied condominium, townhouse, or attached unit in a planned unit development.
    • Check with lender for eligible condominiums.
  • New or previously occupied manufactured housing, single or double wide, permanently affixed to the foundation and taxed as real estate
    • Must meet loan type's foundation requirements.

Purchase Price Limitations

Secondary Market First Mortgage Programs and KHC's Homebuyer Tax Credit

Secondary Market New and Existing Homes................$301,294

KHC's Homebuyer Tax Credit.......................................$271,164

 

OPTION FINANCIAL, LLC
6551 Harrison Avenue, Cincinnati, OH  45247
Office:  (513) 598-5900
Fax:  (513) 598-5153
foberle@optionfinancial.com
Copyright © 2019 Option Financial, LLC (NMLS #2380)
A subsidiary of New Foundation Savings Bank (NMLS #487896)

Copyright © 2008 OPTION FINANCIAL, LLC

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