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Two State Housing Finance Agencies Partner across KY/TN Border to Provide Homeownership Opportunities

Published on October 18, 2017 by Kentucky Housing Corporation
Two State Housing Finance Agencies Partner across KY/TN Border to Provide Homeownership Opportunities

HFA’s down payment assistance, safe and secure fixed-rate loans, and first-time homebuyer tax credits break barriers to homeownership, making the American dream of owning a home affordable.

HOPKINSVILLE, KY — Two state housing finance agencies, Kentucky Housing Corporation (KHC) and the Tennessee Housing Development Agency (THDA) partnered together, across borders, commemorating Homeownership Month, at the Hopkinsville Rotary Club. Homeownership Month is nationally proclaimed as the month of June. It is a time when housing finance agencies (HFAs) are raising awareness about the importance of homeownership and stable housing to families, by promoting programs and services available to potential homebuyers, and how economic impacts from the investments strengthen communities and the states.

By making homeownership more affordable, HFAs provide opportunities for families to live financially secure lives through access to safe, quality housing, directly impacting the local economy through construction, leasing, finance, and other industries. The HFAs’ investment in affordable housing makes an economic impact in our local communities and creates and sustains jobs across the states.

County Judge Executive Steve Tribble and Hopkinsville Mayor Carter Hendricks presented a proclamation that recognizes the importance of safe, quality, affordable housing in Kentucky and Tennessee.

”Christian Fiscal Court understands how important it is to have as many homeowners as possible in our community. We are thankful to receive this grant, which should allow more Christian County families to experience homeownership,” said Steve Tribble, County Judge Executive.

”The City of Hopkinsville is committed to helping our residents enjoy an outstanding quality of life. As such, we recognize the importance of homeownership as a fundamental aspect of improving our community’s quality of life,” said Hopkinsville Mayor Carter Hendricks. ”We are thrilled to partner in this effort and to receive this grant to help more Christian County families enjoy the American Dream.”

Commemorating the event, KHC announced $1 million in down payment assistance for Christian County, effective today. For qualifying, first-time homebuyers, the program offers $10,000 at a 0 percent interest rate, through a forgivable second mortgage loan with a 5-year term. The property must be an existing home located in Christian County.

”Agricultural communities, small town values, and rural character are worth investing in and protecting so that our children can have a safe place to live, grow, and develop into tomorrow’s leaders,” said Kathryn Peters, KHC’s executive director. ”This down payment assistance can break the barrier of affordability for families so they have the opportunity to attain the American dream of buying a home and providing stability for their families.”

Over the past three years, KHC has invested over $11.3 million in single-family mortgage loans in Christian County–creating an economic impact of nearly $15 million, which has positively impacted 92 housing-related jobs.

Since 1972, KHC has helped over 94,000 families invest in the American dream of homeownership and offers programs and services to all who qualify. Since 1974, THDA has helped over 116,000 families become homeowners with affordable mortgage financing, offers pre-purchase housing counseling through a network of 50 providers, and offers a mortgage interest rate discount to help military families.

Through KHC, new homeowner, Tiffany St. John, was able to take advantage of the HHF DAP, with zero percent interest as a non-repayable second mortgage, that helped remove the stumbling block of having enough savings towards the down payment of a home.

St. John said, ”Homeownership has meant making our dreams a reality! Giving our family a forever home that is affordable has been an amazing blessing to my family.”

KHC and THDA are networked with a variety of lending partners throughout their respective states. Potential buyers can visit or to learn more about mortgage loans, down payment assistance, tax credits that can reduce the costs over the life of the loan, fixed-rate options, and other programs and counseling services.

”The Homeownership for the Brave discount a tangible way to thank our military families for the service they have provided to us, and all of America,” said Perrey. ”Our veterans serve to provide us with security. And affordable homeownership can provide financial security to them.”

State housing finance agencies–with missions to create, preserve, and sustain affordable housing–offer families opportunities to have a stable, affordable home so they can have better health and education outcomes. Housing investment is a catalyst to spur growth in communities including infrastructure, road, sewer, energy systems, and broadband. Stronger families equal stronger communities.

About Kentucky Housing Corporation:
As Kentucky’s housing finance agency, Kentucky Housing Corporation (KHC) offers programs designed to create, preserve, and sustain affordable housing. In partnership with state and federal agencies, KHC administers programs that assist low- and moderate-income households with affordable home loans and down payment assistance, affordable rental homes, housing solutions for homeless, and specialized housing with supportive services.

Created by the General Assembly in 1972, KHC is a self-supporting, public corporation of the Commonwealth of Kentucky. KHC is a quasi-governmental agency, which is administratively attached to the Finance and Administration Cabinet, and a portion of KHC’s funds are derived from the interest earned through the sale of tax-exempt mortgage revenue bonds. From these proceeds, KHC has made homeownership possible for more than 90,000 Kentucky families.

KHC also receives fee income for administering federal programs, including rental assistance that makes quality housing available to more than 27,500 low-income Kentuckians. Other programs offered by KHC include rental housing financing for development and preservation, rental assistance, homelessness assistance, homeownership pre-purchase education/counseling, home energy and repair initiatives, as well as loan servicing of its mortgage loans. KHC works with many partners across the state to invest in and create affordable housing opportunities.

This year, KHC is celebrating 45 years of financing the American dream, 1972-2017.

About Tennessee Housing Development Agency:
The Tennessee Housing Development Agency (THDA) is Tennessee’s housing finance agency, created by the General Assembly in 1973. THDA is a self-sufficient, publicly accountable entity of the State of Tennessee whose purpose is to meaningfully expand affordable housing opportunities for Tennesseans. More information about THDA can be found online at

About National Homeownership Month:
National Homeownership Month started as a week-long celebration of homeownership during President Clinton’s administration in 1995.

In 2002, President George W. Bush proclaimed the entire month of June as National Homeownership Month stating, ”Homeownership encourages personal responsibility and the values necessary for strong families. Where homeownership flourishes, neighborhoods are more stable, residents are more civic-minded, schools are better, and crime rates decline.”

KHC and THDA agree with that sentiment and finance programs that make homeownership more affordable for our residents–so they can reach the American dream and have better opportunities to succeed.

Media Contact for KHC
Charla Jackson Peter
502-564-7630, ext. 454

Media Contact for THDA
Patricia M. Smith