HOMEBuyer Program Announcement

On September 12th from 11:00 – 2:30 pm, the Louisville Affordable Housing Trust Fund will host a training and discussion of the LAHTF’s down payment and closing cost assistance program for affordable housing developers serving low and very-low income homebuyers. Both for-profit and non-profit affordable housing developers are encouraged to participate.  RSVP required to program@louisvilleahtf.org by September 5 to ensure space and materials.

The LAHTF will issue a Request for Proposals in October 2014 for developers who are interested in being considered for funding.

About the LAHTF:

The LAHTF was established by a bipartisan act of Metro Council in 2008 as an initiative for Metro Council to invest public funds in the kind of housing our community needs:  for people on fixed incomes like seniors and people with serious disabilities; for young families starting out; for veterans; and for working people whose wages are not enough to live in Metro Louisville.

About the HOMEBuyer program:

The LAHTF has received a $1 million HOME award from Louisville Metro Government under the federal HOME Investment Partnerships Program.  The funds are now being made available to the LAHTF.

The LAHTF will make funds available to nonprofit and for-profit developers of single family homes, for new construction or acquisition and rehabilitation of vacant and abandoned homes.  Rehabilitation of vacant/abandoned properties will be prioritized.    In areas with low appraisal values, some development subsidy will also be available to cover the difference between development costs and appraised value on homes chosen by approved homebuyers.

Developer responsibilities under the HOMEBuyer program include: housing counseling, loan packaging under HOME regulations, development of affordable homes in compliance with HOME regulations, and assisting qualified low and very-low income homebuyers in obtaining a first mortgage.

For more information contact 502-637-5372 or program@louisvilleahtf.org.