Down payment assistance and home repair help residents build generational wealth, access and keep property


Mayor Greg Fischer today highlighted the Louisville Metro Office of Housing’s down payment assistance and home repair programs, which are aimed at helping low- to moderate-income people to own, keep and find a home. create generational wealth.

The approved budget for FY2022 allocated a total of $ 3 million for the down payment assistance program, compared to $ 1 million in FY2021, and approximately $ 5.8 million for home repair programs – Regular Home Repair, At Risk, and Russell Rental Rehab – up from $ 3 million in fiscal 2021.

“Homeownership is crucial for residents to create generational wealth. Thanks to the Down Payment Assistance Program, we are expanding access to homeownership for people for whom a down payment is a barrier to entry, ”said the mayor. “And our home repair programs help existing homeowners who are struggling to afford costly repairs and who are at risk of losing their home or being forced into unsafe or unsanitary conditions.”

Households must be equal to or less than 80% of the region’s median income (MAI) to be eligible for down payment assistance and home repair programs. That’s $ 61,500 or less a year for a family of four.

Applications for the Down Payment Assistance and Home Repair programs opened on July 1. The Housing Office is still accepting down payment assistance applications, but applications for home repair programs are now closed due to significant interest. Residents interested in home repair programs are encouraged to return in October.

Those interested in the down payment assistance program can apply at, and hard copies are available at the Metro Development Center, 444 S. 5th St. Those who have questions can call the Housing office at (502) 574-5850.

Down payment assistance

The Down Payment Assistance Program provides a partially repayable loan with 0% interest to low and moderate income homebuyers for the down payment and closing costs associated with buying a home in Louisville.

Approved applicants can receive up to 20% of the purchase price of the home, and the amount is determined based on individual needs. The average amount of down payment assistance paid is $ 21,706 per applicant.

Within the framework of a duration of the aid, the home purchased must be the main residence of the purchasers for a period of 5 to 15 years, depending on the amount of the aid received. At the end of this specified period, 50% of the loan is canceled.

The down payment assistance program is not limited to first-time home buyers only. Eligible applicants must:

  • Be pre-approved for a mortgage from a local financial institution;
  • Have no unpaid collections, overdue balances or unpaid bankruptcies, with the exception of medical recoveries up to $ 10,000;
  • Have at least $ 1,500 in savings;
  • And stick to the price limits set for houses.

Learn more about the down payment assistance program at

Home repair programs

Home repair programs are committed to providing repairs to help stabilize the homes of low- and moderate-income individuals who currently own and live in a single-family home.

Russell’s regular, at-risk home repair and rental rehabilitation programs focus on maintaining and increasing the supply of affordable, decent, safe and hygienic housing by making investments that have a positive impact on health and safety. occupant safety, including repair or replacement of HVAC, furnace, electrical, plumbing, roofing and gutters.

The average amount of home repair assistance paid through the four programs is $ 24,000 per claimant.

Learn more about home repair programs at


About Matthew R. Dailey

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