Governor Beshear announces help for first-time home buyers
Many states have set up special programs to help potential first-time homebuyers overcome the obstacles in buying their first home. The Kentucky Association of REALTORS would like to inform its members of a special initiative in Kentucky, announced by Governor Steve Beshear yesterday.
On April 22, 2009 Governor Steve Beshear announced a special initiative by the Kentucky Housing Corporation to offer up to 4,500 for down payment and closing costs for first-time home buyers who obtain a KHC home loan. The program will begin on May 1, 2009 and continue through Nov. 30, 2009. To view the press release, click here or continue reading the information below.
The First Home Advantage Program provides a second mortgage with principal and interest payments deferred until July 1, 2010 for KHC-approved, first-time home buyers.
“For many first-time home buyers, the biggest barrier to homeownership is the ability to pay upfront expenses, such as the down payment and closing costs,” said Gov. Beshear. “The innovative First Home Advantage Program will not only help qualified Kentucky home buyers overcome this barrier and realize their dream of owning a home, it will hopefully reinvigorate the housing market help get our economy moving in the right direction.”
The First Home Advantage Program offers a 10-year loan that defers payment with a zero percent interest rate until July 1, 2010. After the initial deferment period, the loan will fully amortize over ten years at the rate of 6 percent. If the borrower pays off the loan before July 1, 2010, KHC will forgive $300 of the principal balance.
The American Recovery and Reinvestment Act of 2009, signed into law by President Barack Obama on February 17, 2009, provides first-time home buyers with an $8,000 tax credit. After purchasing their home, home buyers have the opportunity to file for the housing tax credit provided by the stimulus on their 2009 tax returns and use the tax credit for the repayment of the First Home Advantage Program loan to take full advantage of the prepayment incentive.
“We want to do everything we can to help Kentucky homeowners purchase their new homes,” said Richard L. McQuady, chief executive officer of KHC. “The First Home Advantage Program allows home buyers to take advantage of every opportunity available to them in these difficult times.”
In order for home buyers to qualify for this program, they must obtain a KHC first mortgage through a KHC-approved lender, be a first-time home buyer, meet KHC income and purchase price guidelines, and have a 620 minimum credit score.
To learn more about KHC’s homeownership programs, visit their Web site www.kyhousing.org.
Thursday, April 23, 2009
Fun facts about Kentucky...
About The Great Sate of Kentucky:
*The bloodiest civil war battle was fought in Perryville, Kentucky .
*The first town in the United States to be named for the first president was Washington, Ky. It was named in 1780.
*1792 - Kentucky was the first state on the western frontier to join the Union
*In the War of 1812 more than half of all Americans killed in action were Kentuckians.
*1816 - (first promoted) Mammoth Cave, with 336+ miles of mapped passages, is the world's longest cave. It is 379 feet d eep and contains at least 5 levels of passages. It's second only to Niagara Falls as the most popular tourist attraction in the US .. It became a National Park on July 1, 1941.
*The first American performance of a Beethoven symphony was in Lexington in 1817.
*Begun in 1819 the first commercial oil well was on the Cumberland River in McCreary County .
*Kentucky is the state where both Abraham Lincoln, President of the Union, and Jefferson Davis, President of the Confederacy, were born. They were born less than one h undred miles and one year apart.
*1856 - The first enamel bathtub was made in Louisville
*In 1873, Louisville druggist John Colgan invented something that you can find in any just about every grocery store in the world, chewing gum.
*1883 - The first electric light bulb was shown in Louisville. Thomas Alva Edison introduced his invention to crowds at the Southern Exposition.
*1887 - Mother's Day was first observed in Henderson by teacher Mary S. Wilson. It became a national holiday in 1916.
*The radio was invented by a Kentuckian named Nathan B. Stubblefield of Murray in 1892. It was thre e years before Marconi made his claim to the invention.
*Pike County the world's largest producer of coal is famous for the Hatfield-McCoy feud, an Appalachian vendetta that lasted from the Civil War to the 1890s.
*1893 - 'Happy Birthday to You', probably the most sung song in the world, was written by two Louisville sisters - Mildred and Patricia Hill.
*Late 19th century - Bibb lettuce was first cultivated by Jack Bibb in Frankfort, Kentucky
*1896 - The first (known) set of all male quintuplets was=2 0born in Paducah .
*Carrie Nation the spokesperson against rum, tobacco, pornography, and corsets was born near Lancaster in Garrard County.
*1926 - A Hot Brown is a hot sandwich originally created at the Brown Hotel in Louisville, Kentucky, by Fred K. Schmidt.
*1934 - Cheeseburgers were first tasted at Kaelin's Restaurant in Louisville.
*1937 - The first Wigwam Village Motel, with units in the shape of a 'teepee', was built by Frank A. Redford in Cave City .
*The "Old Fashion" drink was created in Louisville KY
*The world's largest baseball bat, a full one hundred twenty (120) feet tall and weighing 68,000 pounds, can be seen at the Louisville Slugger Museum in Louisville (Jefferson Co.).
*Chevrolet Corvettes are manufactured only in Bowling Green.
*Covington (St. Mary's Cathedral-Basilica of the Assumption) is home to the world's largest hand blown stained glass window in existence. It measures an astounding 24 feet by 67 feet and contains 117 different figures.
*The world's largest crucifix, standing at sixty feet tall, is in Bardstown (Nelson Co.).
*Fort Knox holds more t han $6 billion worth of gold - the largest amount stored anywhere in the world.
*The JIF plant in Lexington is the world's largest peanut butter producing facility.
*Kentucky has more resort parks than any other state in the nation.
*Middlesboro is the only United States city built inside a meteor crater.
*Newport is home to The World Peace Bell, the world's largest free-swinging bell.
*Pikeville annually leads the nation (per capita) in consumption of Pepsi-Cola.
*Post-It Notes are made exclusively in Cynthiana, Ky.
*Shaker Village (Pleasant Hill) is the largest historic community of its kind in the U.S.
*Christian County is 'wet', while Bourbon County is 'dry'. ('wet 'sells liquor; 'dry' does not)
*B arren County has the most fertile land in the state.
*Lake Cumberland has more miles of shoreline than the state of Florida.
*Kentucky is best known for its beautiful blue grass.
*Cumberland is the only waterfall in the world to regularly display a Moonbow. It is located just southwest of Corbin.
*Thunder Over Louisville is the opening ceremony for the Kentucky Derby Festival and is the world's largest fireworks display.
*The only monument south of the Ohio River dedicated to Union Soldiers who died in the Civil War is located in Vanceburg.
*High Bridge located near Nicholasville is the highest railroad bridge over navigable water in the United States .
*The Cathedral Basilica of the Assumption in Covington has 82 stained-glass windows including the world's largest hand-blown one. The window measures 24 feet wide by 67 feet high and depicts the Council of Ephesus with 134 life-sized figures.
*The Lost River Cave and Valley Bowling Green includes a cave with the shortest and deepest underground river in the world. It contains the largest cave opening east of the Mississippi .
*The Kentucky Derby is the oldest continuously held horse race in the country. It is held at Churchill Downs in Louisville on the first Saturday in May.
*Kentucky is the horse capitol of the world.
*Mohammed Ali, The Greatest and most recognized face in the world was born in Louisville, KY.
*There are only three things that matter in the state of Kentucky - Bourbon, Basketball, and Horseracing.
**A true Kentuckian will send this on!!
Or post it on their blog...
*The bloodiest civil war battle was fought in Perryville, Kentucky .
*The first town in the United States to be named for the first president was Washington, Ky. It was named in 1780.
*1792 - Kentucky was the first state on the western frontier to join the Union
*In the War of 1812 more than half of all Americans killed in action were Kentuckians.
*1816 - (first promoted) Mammoth Cave, with 336+ miles of mapped passages, is the world's longest cave. It is 379 feet d eep and contains at least 5 levels of passages. It's second only to Niagara Falls as the most popular tourist attraction in the US .. It became a National Park on July 1, 1941.
*The first American performance of a Beethoven symphony was in Lexington in 1817.
*Begun in 1819 the first commercial oil well was on the Cumberland River in McCreary County .
*Kentucky is the state where both Abraham Lincoln, President of the Union, and Jefferson Davis, President of the Confederacy, were born. They were born less than one h undred miles and one year apart.
*1856 - The first enamel bathtub was made in Louisville
*In 1873, Louisville druggist John Colgan invented something that you can find in any just about every grocery store in the world, chewing gum.
*1883 - The first electric light bulb was shown in Louisville. Thomas Alva Edison introduced his invention to crowds at the Southern Exposition.
*1887 - Mother's Day was first observed in Henderson by teacher Mary S. Wilson. It became a national holiday in 1916.
*The radio was invented by a Kentuckian named Nathan B. Stubblefield of Murray in 1892. It was thre e years before Marconi made his claim to the invention.
*Pike County the world's largest producer of coal is famous for the Hatfield-McCoy feud, an Appalachian vendetta that lasted from the Civil War to the 1890s.
*1893 - 'Happy Birthday to You', probably the most sung song in the world, was written by two Louisville sisters - Mildred and Patricia Hill.
*Late 19th century - Bibb lettuce was first cultivated by Jack Bibb in Frankfort, Kentucky
*1896 - The first (known) set of all male quintuplets was=2 0born in Paducah .
*Carrie Nation the spokesperson against rum, tobacco, pornography, and corsets was born near Lancaster in Garrard County.
*1926 - A Hot Brown is a hot sandwich originally created at the Brown Hotel in Louisville, Kentucky, by Fred K. Schmidt.
*1934 - Cheeseburgers were first tasted at Kaelin's Restaurant in Louisville.
*1937 - The first Wigwam Village Motel, with units in the shape of a 'teepee', was built by Frank A. Redford in Cave City .
*The "Old Fashion" drink was created in Louisville KY
*The world's largest baseball bat, a full one hundred twenty (120) feet tall and weighing 68,000 pounds, can be seen at the Louisville Slugger Museum in Louisville (Jefferson Co.).
*Chevrolet Corvettes are manufactured only in Bowling Green.
*Covington (St. Mary's Cathedral-Basilica of the Assumption) is home to the world's largest hand blown stained glass window in existence. It measures an astounding 24 feet by 67 feet and contains 117 different figures.
*The world's largest crucifix, standing at sixty feet tall, is in Bardstown (Nelson Co.).
*Fort Knox holds more t han $6 billion worth of gold - the largest amount stored anywhere in the world.
*The JIF plant in Lexington is the world's largest peanut butter producing facility.
*Kentucky has more resort parks than any other state in the nation.
*Middlesboro is the only United States city built inside a meteor crater.
*Newport is home to The World Peace Bell, the world's largest free-swinging bell.
*Pikeville annually leads the nation (per capita) in consumption of Pepsi-Cola.
*Post-It Notes are made exclusively in Cynthiana, Ky.
*Shaker Village (Pleasant Hill) is the largest historic community of its kind in the U.S.
*Christian County is 'wet', while Bourbon County is 'dry'. ('wet 'sells liquor; 'dry' does not)
*B arren County has the most fertile land in the state.
*Lake Cumberland has more miles of shoreline than the state of Florida.
*Kentucky is best known for its beautiful blue grass.
*Cumberland is the only waterfall in the world to regularly display a Moonbow. It is located just southwest of Corbin.
*Thunder Over Louisville is the opening ceremony for the Kentucky Derby Festival and is the world's largest fireworks display.
*The only monument south of the Ohio River dedicated to Union Soldiers who died in the Civil War is located in Vanceburg.
*High Bridge located near Nicholasville is the highest railroad bridge over navigable water in the United States .
*The Cathedral Basilica of the Assumption in Covington has 82 stained-glass windows including the world's largest hand-blown one. The window measures 24 feet wide by 67 feet high and depicts the Council of Ephesus with 134 life-sized figures.
*The Lost River Cave and Valley Bowling Green includes a cave with the shortest and deepest underground river in the world. It contains the largest cave opening east of the Mississippi .
*The Kentucky Derby is the oldest continuously held horse race in the country. It is held at Churchill Downs in Louisville on the first Saturday in May.
*Kentucky is the horse capitol of the world.
*Mohammed Ali, The Greatest and most recognized face in the world was born in Louisville, KY.
*There are only three things that matter in the state of Kentucky - Bourbon, Basketball, and Horseracing.
**A true Kentuckian will send this on!!
Or post it on their blog...
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