Homebuyer Resources
The Office of Housing and Community Development offers resources to assist the homebuyers. Click the titles below to learn more about the different resources.
- Down Payment Assistance Program
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The Down Payment Assistance Program provides low- to moderate-income homebuyers with down payment and closing cost assistance for purchasing a home in the Louisville Metro area. Funds can be applied to the purchase of an existing or newly constructed home. The program is not limited to first-time homebuyers, but prospective homebuyer(s) may NOT currently own a home.
Down Payment Assistance is in the form of a partially forgivable loan with 0% interest. Homebuyers must occupy the purchased home as their primary residence for a period of 5 – 15 years, depending upon the amount of assistance received. The maximum amount of assistance per homebuyer will be no more than 20% of the purchase price but also is based on the need the individual buyer. Section 8 Homeownership clients are encouraged to apply.
- HUD-Approved Homeownership Counseling
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Some government-sponsored homeownership programs, including the Down Payment Assistance program, require participants to go through homeownership counseling. Below are two counseling programs offered to Louisville residents.
Louisville Urban League Center for Housing & Financial Empowerment
- LMHA Path to Homeownership
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Through the Homeownership Program, the Louisville Metro Housing Authority seeks to help eligible Public Housing and Housing Choice Voucher participants apply their subsidy towards a monthly home mortgage payment, instead of rent. This assistance can only be used toward monthly mortgage payments. Program participants must cover all costs associated with purchase including inspections, down payment, closing costs, as well as ongoing home repairs and maintenance after purchase.
- REVERT: Redlining Mitigation Program
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The Louisville Affordable Housing Trust Fund's Redlining Mitigation program, known as REVERT (Restoring Each Viable Economically Redlined Territory), strives to provide homeownership opportunities for families disproportionately impacted by redlining in previously redlined neighborhoods.
The REVERT program will provide 200 families up to $50,000 in rehabilitation funding towards a home purchase. The funds can be used towards updating a property for code compliance, enhancing energy efficiency, updating decor and interior designs, as well as enhance the curb appeal of a property. Sometimes funds may be used to demolish a structure, clear the lot, and build a new structure on the site. The funds are forgivable as long as the applicant is an owner occupant for at least 15 years.
- Interested in buying a Landbank house?
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The Landbank Authority is a cooperative effort by the major taxing authorities in Louisville Metro, and its mission is to put vacant and abandoned properties back into productive use to improve our neighborhoods by increasing property values, stimulate the tax base, and reducing crime rates.
The authority owns and sells lots and vacant homes throughout Louisville. If you are interested in purchasing a Landbank-owned property, click the link below.
Development Partners
Below are a list of community partners who develop affordable housing throughout the city and help residents achieve homeownership.
New Directions Housing Corporation
