DreamHome Program
Empowering your journey to homeownership.
The Stock Yards Bank & Trust DreamHome program is designed to assist low and moderate-income borrowers in purchasing a home by offering a combination of first and second mortgages, both with 30-year fixed rates, allowing for up to 103% loan-to-value, which covers 100% financing of the home and an additional 3% for closing costs. We have friendly mortgage professionals eager to help answer your questions, so search for a lender in your community or keep reading to learn more about DreamHome.
Program Overview
- 97% loan-to-value (LTV) allowed for purchases on first mortgage loan
- Additional 6% loan to value allowed for purchases on second mortgage loan
- Total LTV of 103% allowed between first and second mortgage, allowing for 0% down payment and some or all of closing costs
- Owner-occupied, single-family residence (manufactured homes and condos allowed as long as Freddie Mac guidelines are met)
- Fixed interest rate on first and second mortgage purchase transactions only
- Maximum purchase price of $350,000
- Maximum loan amount of $339,500
- Mortgage Insurance (PMI) is required
Borrower Requirements
- Must meet income guidelines based on the county the property is located in
- First-time homebuyers must complete a first-time homebuyer education course
- Minimum credit score of 620
Program Availability
- Kentucky Counties:
- Boone, Bourbon, Bullitt, Campbell, Clark, Elliott, Fayette, Hardin, Harrison, Henderson, Jefferson, Jessamine, Kenton, Madison, Nelson, Oldham, Rowan, Scott, Shelby, and Woodford
- Indiana Counties:
- Boone, Clark, Floyd, Hamilton, Hendricks, Johnson, Marion, Scott, and Vanderburgh
- Ohio Counties:
- Butler, Hamilton, and Warren
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Subject to credit approval. Terms and conditions subject to change. SYB NMLS# 433971