Bond money is back. The main difference between now and the last times that bond money was issued is that this time the bond money must be repaid. This is still a good opportunity to get into a home for very little money down at a very low interest rate.
Bond money qualifications:
Buyers must be First Time Home buyers. First time buyers are defined as having no ownership interest in any residence in the last 3 years
The home they are buying must be their principle residence (no investment properties)
Buyers must be getting an FHA, VA, or USDA Loan
Buyers must have a 620 Minimum Credit Score
Buyers must put .5% towards the home they are buying (This is only $500 towards a $100,000 house)
Household Income Limits (Sedgwick, Butler County)
1 – 2 persons: $63,700 (non-target area) / $73,255 (target area)
3 + persons: $76,440 (non-target area) / $89,180 (target area)
Purchase Price Limit
$243,945 (non-target area) / $298,155 (target area)
Click Here for a PDF of the Sedgwick County target area’s
Here are the details of the Loan
- 1st Mortgage: 30-Year Fixed 4.750% with payments due monthly
- 2nd Mortgage: 20-Year Fixed 5.625% with payments due monthly
Assistance Amount
4% of purchase price
This bond money won’t last forever. Fill out the form below for free pre-qualification. If you would rather pre-qualify over the phone, feel free to call Lynette Chapman at (316)806-7090.
