First time home buyers in Kansas and Oklahoma can receive up to $7,500 through a mortgage loan closing cost grant. Income limits apply and subsidies are limited. See if you qualify below.
Are you considered a first-time home buyer?
First-time home buyer is defined as ALL borrowers, co-borrowers and co-owners of the transaction, who do not own and are not investors in another residence, and who wish to purchase a home that will be their primary residence.
In addition, the homebuyer(s) must meet any one of the following criteria:
• Have had no ownership in a residence during the prior three-year period ending on the date of purchase of the property;
• Have only owned a residence not permanently affixed to a permanent foundation in accordance with applicable Regulations;
• Has only owned a property that was not in compliance with State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure; or
• Is a household displaced as a result of a Federally Declared Disaster (as designated by FEMA).*
• Have had no ownership in a residence during the prior three-year period ending on the date of purchase of the property;
• Have only owned a residence not permanently affixed to a permanent foundation in accordance with applicable Regulations;
• Has only owned a property that was not in compliance with State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure; or
• Is a household displaced as a result of a Federally Declared Disaster (as designated by FEMA).*
Who is considered a household member for income limits?
Household includes ALL individuals who currently, or will, occupy the house or residence. Including:
• Non-borrowing adults and children
• Children and adults that will occupy the residence at any time during the year
• Non-borrowing adults and children
• Children and adults that will occupy the residence at any time during the year
Income Limits for Kansas
The first-time home buyer program provides assistance to households earning at or below 80% of the area median income in Kansas and Oklahoma. Income of all household members age 18+ must be included.
| County | Max Income Limits Household 1-4 | Max Income Limits Household 5-8 |
|---|---|---|
| Butler | $60,650 | $80,050 |
| Cowley | $52,100 | $68,750 |
| Chautauqua | $52,100 | $68,750 |
| Harvey | $60,650 | $80,050 |
| Marion | $53,600 | $70,750 |
| McPherson | $58,800 | $77,600 |
| Reno | $52,100 | $68,750 |
| Sedgwick | $60,650 | $80,050 |
| Sumner | $58,500 |
$77,200
|
* Limits subject to change without notice. Contact Union State Bank loan officer for additional counties or income limits for households of 9+.
Income Limits for Oklahoma
Use of Subsidy
Households must agree to use the subsidies to pay for down payment, closing cost, homebuyer education, or allowable repairs in connection with the household's purchase of a home to be used as the household's primary residence.
Allowable repairs: A subsidy may be used to pay for rehabilitation including, but not limited to accessibility, roof, electrical, plumbing, sewer, mechanical, foundation or other structural, windows, doors, floor coverings, wall repair, paint, or hazardous material remediation.
Ineligible Rehabilitation/Repair Costs: A subsidy cannot be used to pay for rehabilitation including, but not limited to construction/repairs of a detached garage or outbuilding, household repair labor (sweat equity), luxury items (i.e., landscaping, hot tubs, swimming pools).
Other Terms and Conditions
Homebuyer Education Requirement. Recipients must complete a homebuyer education program provided by, or based on one provided by, an organization experienced in homebuyer education.
Retention Period. Households must agree to a five-year retention period. A household that receives a subsidy for the purchase of an existing, newly-constructed home, or for repairs shall be subject to a deed restriction or other legally enforceable retention agreement or
mechanism ensuring retention for five years (60 months) from the closing date for the purchase of the property as evidenced by the closing document.
mechanism ensuring retention for five years (60 months) from the closing date for the purchase of the property as evidenced by the closing document.
Additional terms and conditions apply. See branch for more information.
Home Mortgage Disclosure Act Notice: The HMDA data about our residential mortgage lending is available online for review. the data shows geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information visit the Consumer Financial Protection Bureau's website www.consumerfinance.gov/hmda(Opens in a new Window).