Path to Homeownership
RCH First-time Homebuyer Program
River City Housing’s mission is to improve the quality of life for low and moderate-income families and strengthen neighborhoods by developing safe and affordable housing. We believe so strongly in homeownership because owners benefit by gaining equity through the property and value of their home, achieving housing stability for themselves and their families, and receiving all of the added benefits homeownership offers.
We have proudly maintained a reputation for high-quality workmanship and strongly support creating housing that is energy-efficient so it is safe and affordable at the time of purchase, and affordable long-term. It is our intention to help the owner avoid becoming cost-burdened with costly maintenance and repairs, so we prioritize repairs and new installations on major mechanicals, roofs, electrical and plumbing systems, and added insulation in attics and crawl spaces, and energy-efficient doors, windows, and appliances.
THE STEPS TO PURCHASING A RIVER CITY HOUSING HOME:
1. You must be a first-time homebuyer (not owned a home in the past three years)
2. Qualify for a mortgage from a bank or other reputable lending institution
3. Meet the current income guidelines for the number of people living in the household must be at or below 80% of the area median income (AMI).
4. Complete HUD-certified Homebuyer Education Course and Counseling (there is a cost
associated with this course; price varies).
HUD Certified Counseling Agencies:
Louisville Urban League at 502-585-4622, Apprisen 502-458-8840 or ehomeamerica.org
5. Must also meet all other requirements to qualify for Down Payment Assistance
6. Once qualified, you're ready to find the home of your dreams!