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Class Act & KHC

Discover the mortgage benefits offered by Class Act's partnership with the Kentucky Housing Corporation!

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Mortgage Revenue Bonds

We're now offering a below-market, 30-year fixed interest rate to first-time or repeat homebuyers through the Mortgage Revenue Bond (MRB) program.

Who's Eligible?

  • First-time homebuyers in non-targeted areas.
  • First-time and repeat homebuyers in targeted areas.
  • Only for principal residences.

Key Information:

  • Purchase Price Limit: $481,176
  • Borrowers must meet KHC's MRB Income Limits.

Down Payment Assistance Program (DAP)

In addition to competitive mortgage loans, we're now offering the Down Payment Assistance Program (DAP) to assist our members. This program is designed to help borrowers manage their down payment, closing, and prepaid costs more effectively, ensuring you can secure your new home without any undue financial stress.

Program Highlights:

  • Secure a second mortgage loan of up to $10,000.
  • A dedicated resource to cover down payment, closing costs, and any prepaid expenses.
  • Applicable for both new and existing properties.
  • Enjoy an interest rate of 3.75%, repaid over a 10-year period.
  • Please note that KHC's Secondary Market Income limits apply to this program.

For more detailed information, please reach out to us directly. At Class Act Federal Credit Union, we're committed to helping you invest in your future home.

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Home Buyer Tax Credit

Embarking on the journey of homeownership has never been more rewarding!

KHC Home Buyer Tax Credit Benefits:

  • Tax Savings: Experience a reduction in the federal income tax you owe.
  • Higher Mortgage Qualification: The tax savings provide you with more income to qualify for a mortgage.
  • Lifetime Benefit: This credit is effective for the entire duration of the loan. Maintain your mortgage, and you can continue to claim the credit!
  • Significant Tax Credit: Enjoy a tax credit of 20% of the mortgage interest you pay annually.
  • Yearly Deduction: The remaining 80% of the mortgage interest can be claimed as a deduction each year.
  • Special Reduction: Receive a reduction of the one-time fee by up to $200 when you finalize your mortgage financing through the Kentucky Housing Corporation.

Class Act Federal Credit Union
NMLS ID# 403005

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