Discover Ashley Payton's inspiring journey to purchasing her dream home for her daughter. Learn how she used KHC's Mortgage Revenue Bond program and Down-payment Assistant Program to make her homeownership dreams come true.
"I have personally only lived in an actual house one time," said Ashlee. "I grew up in a trailer park, so this has always been my goal. To own a house for my daughter. This is one of my biggest goals. It means everything to me."
Finally, just last week, she signed the paperwork to purchase her first home, a four-bedroom, one-bath house with hardwood floors and a huge backyard near Danville, Kentucky.
This is something Ashlee has been talking about for years. But, because she hadn't yet gone through with it, her nine-year-old daughter was beginning to lose hope.
"She told me about two months ago that she thought we were poor," Ashlee said, "because I had been telling her that I was going to buy a house and never did. So when she had this conversation with me, I was like, let's just go ahead and see what we can do."
The process was swift. She reached out to loan officer Kyle Best of Geneva Financial, was pre-approved, and looked at one house. She knew it was the one. That was August 14. Just one month later, on September 15, she was in Kyle's office in Lancaster, Kentucky, signing the paperwork.
As a first-time homebuyer, Ashlee was able to take advantage of KHC's Mortgage Revenue Bond (MRB) program, receiving a below-market, 30-year fixed interest rate of 6% at a time when most mortgage interest rates are above 7%. She was also able to use KHC's Down-payment Assistance Program (DAP).
"It's great," she said. "I was expecting a huge down payment and all these things, and didn't have one."
In fact, she didn't have to bring any money to closing for down payment or closing costs.
When we spoke to Ashlee at the closing, she had yet to tell her daughter the news.
"She has no idea," Ashlee said. When her daughter asked if they were poor, she said, she vowed to keep any house news a secret until she was holding the keys.
Ashlee was planning a little unveiling celebration for her daughter. After the closing, she was on her way to the new house to decorate the front porch.
"We got new rugs, a wreath to put on the door, new front porch furniture," she said. "We're going to make it homey, so she can see it when she gets there."
