Finance
A Kentucky first-time homebuyer who qualifies for the KHC (Kentucky Housing Corporation) program may receive:
AA free home from the state
BBelow-market mortgage rates and/or down payment assistance✓ Correct
CTax-free income for 5 years
DAutomatic exemption from property taxes
Explanation
The Kentucky Housing Corporation (KHC) offers first-time homebuyer programs with below-market interest rates, down payment assistance, and closing cost grants for qualifying buyers.
Related Kentucky Finance Questions
- What federal law requires lenders to provide a Loan Estimate within three business days of receiving a mortgage application?
- Loan-to-value (LTV) ratio is calculated as:
- A discount point paid on a mortgage loan is equal to:
- A Kentucky buyer is approved for a $300,000 mortgage. The lender charges 2 discount points. How much will the buyer pay in points?
- Which type of mortgage loan is insured by the Federal Housing Administration?
- A home equity line of credit (HELOC) is:
- In Kentucky, a reverse mortgage is available to homeowners who are at least how old?
- The secondary mortgage market in Kentucky (Fannie Mae, Freddie Mac) provides liquidity by:
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →