Wichita Home

All About Wichita and Wichita Real Estate

First Time Home Buyers Assistance In Kansas

There is a program for first time home buyers in Kansas.  It’s called The first time homes buyers program or FTHB. Not as well know as the first time home buyer tax credit of recent history it’s still a powerful and helpful tool.

One of the biggest obstacles to homeownership for first time buyers is lack of cash. This incentive solves that problem but first one must qualify with a participating lender. Once qualified a new buyer has plenty of help for a first real estate purchase.

To qualify the buyer or buyers must have incomes at or below 80 percent of the median for their area. The loan can be from 15-20 percent of the purchase price of the home depending on the applicants income level.

The first time home buyer is expected to come up with  $500 or 2 percent of the purchase price, which ever is greater.

Some other conditions are that the home being sought is $150,000 or less, cannot be in a flood zone, must be occupied by the qualified buyer and , this is tough one, cannot be within the City limits of Wichita, Topeka, Kansas City, Lawrence or Johnson County.

If cash on hand has been holding you back from moving into your first home you now may have an answer. Call me with questions or to see if you qualify.

  • Joel Weihe
  • joelw@rwwichita.com
  • 316 833-2677

October 1, 2010 - Posted by | Uncategorized | , , , , , , , , , , , , , ,

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