Down Payment Path

Down Payment Assistance Programs in Kansas

Kansas offers a variety of down payment assistance programs aimed at reducing the upfront costs of buying a home. These initiatives are designed to benefit a broad range of buyers, ensuring that homeownership is accessible to more people across the Sunflower State.

Kansas Housing Resources Corporation (KHRC) First Time Homebuyer Program

The KHRC First Time Homebuyer Program provides financial assistance to cover down payments and closing costs for eligible buyers. Despite its name, it is open to some repeat buyers in specific circumstances.

  • Offers up to 20% of the home’s purchase price in down payment assistance.
  • Funds are provided as a deferred loan, forgivable after 10 years if residency requirements are met.
  • Income and purchase price limits apply based on household size and location.

USDA Rural Development Loans

For buyers in rural parts of Kansas, the USDA Rural Development Loan offers financing with no down payment required.

  • Available to low- and moderate-income buyers in USDA-designated areas.
  • Flexible credit requirements and competitive interest rates.
  • Can be paired with other assistance programs to cover closing costs.

Kansas Individual Development Account (IDA) Program

The IDA Program helps buyers save for down payments through matched savings accounts.

  • Provides matched funds for every dollar saved, up to a certain amount.
  • Designed for income-eligible buyers to build savings toward homeownership.
  • Can be combined with other state or local assistance programs.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate program offers significant tax benefits to reduce the overall cost of homeownership.

  • Allows buyers to claim a federal tax credit for a portion of their annual mortgage interest.
  • Can be used with other assistance programs to maximize benefits.
  • Income and purchase price limits apply.

Local Assistance Programs

Many cities and counties in Kansas provide additional down payment assistance to support local homebuyers.

  • Programs in cities like Wichita, Overland Park, and Topeka often include grants or low-interest loans to help with down payments and closing costs.
  • Some local initiatives target specific professions, such as educators and first responders, or offer benefits for purchasing homes in targeted neighborhoods.
  • Eligibility requirements and assistance levels vary by location.

Kansas’ down payment assistance programs aim to make homeownership more attainable by reducing the upfront financial burden. Whether you’re purchasing your first home or upgrading, these resources can help you achieve your goal of owning a home in the Sunflower State.