Heart of Homebuyer Program Through Paducah Alliance of Neighbors

Date of Release: 
January 04, 2022

Date of release:  January 4, 2022

The Paducah Alliance of Neighbors is accepting applications for its Heart of Homebuyer Program.  This program will allow income-qualified, mortgage-ready families to purchase newly-constructed or fully-renovated homes at an affordable price.  Paducah Alliance is working with the City of Paducah to identify properties in the heart of Paducah.  These homes will be located in an area of focused attention in a Southside neighborhood or in the Frenchtown neighborhood located between Lowertown and the Fountain Avenue neighborhood.  Supplemental funding from several sources is being finalized that will make these homes affordable for low- to moderate-income families.  The hope is to work with 5 families this year.

To qualify for the program applicants will need to meet several qualifications:

1)      have not owned a home in the past three years.  (exceptions for divorcees who do not retain ownership rights of marital home and for substandard mobile homes.)

2)      have no more than $50,000 in cash or similar assets.

3)      have a credit score above the 660 range.

4)      have a minimum household income in the $28,500 range without excessive debt to afford a mortgage of $80,000. Depending on home size, mortgages will be in $80,00 to $120,000 range. (A slightly smaller income and mortgage may be possible with a completely-renovated home.)

5)      have a household income at or below 80% of the HUD Area median income for McCracken County.  The limits for various family sizes are listed in the attached program brochure. 

More information about the program, income limits, and the process may be found in the Heart of Homebuyer Program Brochure.  Interested households are encouraged to apply to the program by January 28, 2022.  However, applications will be accepted after that date. 



Sharon Poat

Paducah Alliance of Neighbors

300 Fountain Avenue

Paducah, KY 42003