The Success Stories below, highlight the many KHC programs available to assist Kentuckians. To submit your own KHC Success Story, please submit a Success Story request.
Brayton Apartments Receives a Makeover
Marshall has been a resident of Brayton Apartments for over 10 years,
so he was very pleased when Greystone Affordable Development and
Winterwood, Inc., together began the renovation of his community.
Construction was completed in an astounding 12 months, including new
HVAC systems, plumbing, more efficient kitchen appliances, and aesthetic
updates to both interiors and exterior portions of the property
addressing accessibility, functional obsolescence and deterioration.
Keith has a sense of pride and positive outlook as a result of the
improvements. He explained, “They were so good, that nobody had to leave
their home during the process.” For more information about this
preservation, please read KHC’s press release.
From Mobile Home to Site-Built House
Pauline Barrett reached out for assistance with repairing her 1969 model mobile home. Cassie Hudson, with Housing Partnership Inc., explained that the home was too far gone to repair. Ms. Barrett was approved for a new site-built home, which utilized HOME Investment Partnerships Program (HOME) and Appalachian Regional Commission (ARC) funds for the construction of several home buyer units in the Milltown Subdivision. HOME funds help buyers, like Ms. Barrett, realize the dream of owning a home. These are important programs that create quality housing solutions for Kentuckians and strengthen our communities. “I’m proud of it,“ Ms. Barrett said when talking about her new home, “and it’s going to be easier to have family visit.”
DAP Makes Homeownership More Attainable
Adam and Tiffany St. John were able to utilize the Hardest Hit Down payment Assistance Program (HHF DAP) as first-time homebuyers, in October 2016. The family had been looking to buy a home for a number of years, but unforeseen events complicated the process. In 2013 Adam suffered a heart attack, which forced a career change that encouraged him to return to school. After speaking with Sue Ann McKissick, a lender with Heritage Bank, they realized they qualified for the HHF DAP that helped pay for their down payment and closing costs.
Tiffany said, “This has given our family a forever home. It turned what we thought would just be a dream into reality.” The family’s mortgage for a three bedroom, two bath home, on a three-acre lot is now less than they were paying in rent. Adam said, “It’s wonderful knowing that we made an investment in ourselves. We’re not putting money into anyone else’s pockets, we’re essentially putting money away for ourselves.”
Living in a Community
It doesn’t matter your age, everyone wants a safe, clean, and affordable place to live. For Carolyn Price, that place is Trent Village, which is a senior living community in Lexington. The lovely campus includes a common area for neighbors to gather, secure entrances, and spacious grounds that encourage relaxation. For this project, KHC allocated $787,514 in Housing Credits, which will be leveraged into over $6 million in equity from Ohio Capital Corporation for Housing. KHC also contributed $300,000 from the Affordable Housing Trust Fund. Carolyn said, “This is just a wonderful place to live… its home, not just an apartment.” ”
Transition to Self-Sufficiency
Autumn Powell was able to graduate from the Family Self-Sufficiency Program (FSS), which is
a voluntary program for people who are receiving housing assistance
through the Section 8 Housing Choice Voucher Program administered by
KHC. Participants work with case managers to learn skills for job
readiness, money management, and homeownership education. This
program strengthened Autumn's life in many ways; with commitment and
hard work she was able to improve her credit and pay off debt. Autumn
said, "With this program I was able to get a decent car, which allows me
to keep my job and provide for my family." She tells her friends and
family to contact KHC for more information about the FSS Program.
Making Homeownership Affordable
Charles Wine was already working with a lending company that
quoted an interest rate of 3.8 percent when he first learned about Kentucky
Housing Corporation’s (KHC) mortgage loan programs. A partnering lender was
able to explain the Down payment Assistance Program (DAP) and low-interest loan
option offered by KHC. With this information, Mr. Wine was able to obtain a 2.0
percent interest loan through KHC’s special funding. As a first-time home
buyer, Mr. Wine felt satisfied with the ease of the application process and
overall value of savings. Mr. Wine said, “Customers should do a little research
for programs like KHC, for cases like mine, the other mortgage company didn’t
offer it [down payment assistance]. Without the help of KHC, I would have had
to look for a lower-priced house.”