Housing Authority of Newport, Kentucky: An Equal Housing Opportunity

NOTICE OF SOLICITATION OF PARTICIPANTS

 

“BRIDGING THE GAP TO HOME OWNERSHIP”

 

The Campbell County Fiscal Court and Newport Millennium Housing Corporation, an affiliate of the HousingAuthority of Newport, are pleased to announce applications are being accepted for the CampbellCounty Homebuyer Assistance Program beginning Friday, September 21, 2007.

 

The Kentucky Governor’s Office for Local Development has made available $960,000 to provide $40,000 in down payment assistance to twenty-four (24) households wishing to purchase new homes being constructed in the City of Newport.

 

These $40,000 down payments will be secured by a mortgage on the homes which are purchased, but, $5,000 of these mortgages will be forgiven for each year the purchaser resides in their new home.  After eight (8) years, this $40,000 will not ever be repaid by the homeowner.

 

#          Applicants must have a favorable credit and rental history

#          Applicants must be able to secure a first mortgage from a private lender

#          Applicants may not now own a home

#          Applicants must successfully complete Homebuyer Education training

#          Applicants must have been employed for at least the past twelve (12) months

#          Applicants may not have any felony, violent crime and/or drug-related criminal history

#          Applicant annual grosshousehold income must fall within these limits:

 

            One person household-               Income of $17,808 to $36,200 per year

            Two person household-               Income of $20,352 to $41,350 per year

            Three person household-            Income of $22,896 to $46,550 per year

            Four person household-              Income of $25,440 to $51,700 per year

            Five person household-               Income of $27,745 to $55,850 per year

            Six person household-                Income of $29,510 to $59,950 per year

 

Persons holding Section 8 Vouchers may have incomes less than the minimum amounts shown above and still qualify to participate in this program.  Elderly and/or disabled applicants are not requiredto meet the twelve (12) month employment requirement. 

 

Information regarding home ownership training courses and applications for the program can be obtained by calling Nannatte or Candy at the Housing Authority of Newport at 859-581-2533.

Calls will be taken Monday through Friday from 8:00 am until 4:30 pm. 

 

Applications shall be processed in order they are received and qualified applicants will be selected on a first come, first served basis.

 

The Campbell County Fiscal Court, Newport Millennium Housing Corporation, the Housing Authority of Newport and the Kentucky Governor’s Office for Local Development conduct  business in accordance with all applicable local, state and federal Fair Housing laws and regulations.              

HOPE VI Constructed/Rehabilitated Homes (HCRH)

 
The Housing Authority, through one of its non-profit affiliates, will develop new homes in both the northern and southern sections of the City of Newport. These three and four-bedroom homes will be available to families with annual household incomes of at or below 80% AMI (See chart below). Many will include a forgivable second mortgage, making the home even more affordable!
 
In addition to other criteria, buyers must complete pre-purchase counseling and be in a position to secure a first mortgage loan. While construction has not yet begun, you may view some of the preliminary home plans by clicking on the link below. We will advertise on this site as more information becomes available. Or you may contact Candy McDine cmcdine@nhaky.org  or Linda Fields lfields@nhaky.org  at our office at 859-581-2533.
 
 

Section 8 Homeownership

 
This program allows current Section 8 families, who have been on the rental assistance program for at least one year, the opportunity to change their rental voucher to a homeownership voucher. Interested families must complete homeownership counseling and be in good standing as a participant. For more information, please contact Candy McDine at 859-581-2533 or by email at cmcdine@nhaky.org

CINCINNATI,OH-KY-IN PMSA
FY 2006
INCOME LIMITS

80% AMI LIMIT     

1
PERSON
$36,160

2 PERSONS
$41,360

3 PERSONS
$46,480

4 PERSONS
$51,680		5 PERSONS
$55,840		6 PERSONS
$59,920


H - Housing  A - Affordable in N - Neighborhoods
Equal Housing Opportunity
Housing Authority of Newport Kentucky
30 East 8th Street
P.O. Box 72459
Newport, KY 41072
Phone: (859) 581-2533
TDD line: (859) 581-3181
Fax: (859) 581-9009