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KansasDPA Program Lunch & Learn

June 12 @ 12:00 pm - 1:00 pm
We invite you to join us on Friday, June 12th, for a KansasDPA Lunch & Learn session where we will review recent program updates and provide a refresher on the many benefits available through the program. During this session, we will discuss important changes related to the KansasDPA Assistance Recapture Provision and lender responsibilities, including:

Assistance Recapture Provision

If the borrower sells, transfers ownership, or refinances the property within 30 years of the mortgage loan closing, the full amount of assistance received becomes immediately due and payable to the Issuer.

Lender Requirements

  • Ensure the full assistance amount (up to 5%) is accurately disclosed and included in the transaction.
  • Include the grant assistance in DU, LPA, or GUS so it is properly reflected in the CLTV calculation and is not excluded.
  • Clearly communicate the recapture requirement to borrowers at both application and closing.
  • Obtain a fully executed Notice of Grant Subject to Recapture for every loan receiving assistance.

In addition to these updates, we will review key program features, including:

  • KansasDPA assistance options
  • The EDGE Rate Offering and how it provides a permanent interest rate buydown for eligible borrowers
  • Newly released income limits
  • Program eligibility highlights
  • Common compliance and reservation questions
  • Best practices for a smooth loan process

Whether you are new to the program or a seasoned KansasDPA lender, this session will provide valuable information and an opportunity to ask questions.

Thank you for your continued partnership and support of affordable homeownership opportunities throughout Kansas.

 
 
 

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