According to the Kansas City Business Journal, September 15, 2008, the Kansas City Dream Home Program is accepting applications again!! This is great news for many Kansas City first time home buyers. This program offers a maximum of $20,000 down payment assistance for those that quailfy. This grant will work as follows:
$20,000 forgivable loan if the owner occupies the home for 10 years. You don't have to pay this amount back!
However, if you don't live there 10 years, this is how it breaks down:
Own and occupy for 1 year - you owe $18,000 back
Own and occupy for 2 year's - you owe $16,000 back
Own and occupy for 3 year's - you owe $14,000 back
Own and occupy for 4 year's - you owe $12,000 back
Own and occupy for 5 year's - you owe $10,000 back
Own and occupy for 6 year's - you owe $8,000 back
Own and occupy for 7 year's - you owe $6,000 back
Own and occupy for 8 year's - you ower $4,000 back
Own and occupy for 9 year's - you owe $2,000 back
Own and occupy for 10 year's - you owe nothing back
You can read the Kansas City Business Journal article at http://www.bizjournals.com/kansascity/stories/2008/09/15/daily8.html?f=et65&ana=e_du
To see if you qualifying for this or other KC area programs, please visit:
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