Home buying program provides affordable housing | News

Home buying program provides affordable housing | News

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PADUCAH — A local nonprofit is taking steps to solve the nationwide housing crisis, starting with Paducah’s southside.

The Paducah Alliance of Neighbors announced it is accepting applications for its Heart of Paducah Homebuyer Program.







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This house is currently being built through the Heart of Paducah Homebuyer Program. It’s 3 bedrooms, 2 bathrooms, and 1200 square foot off of Oscar Cross Ave. 




The nonprofit launched the program in 2020, building houses for a total of six families.

The program provides approved applicants with affordable homes to buy in the Walter Jetton area through funding from various organizations.

Executive Director Sharon Poat said the project will help revitalize the southside. “We’ve seen some pressures on housing here in Paducah, and so it makes even clearer that need for more housing period and certainly more affordable housing for families,” Poat said.

The nonprofit currently has funding for four houses. To qualify, applicants must not have owned a home in the past three years, have less than $50,000 in liquid assets, have an income of around $29,000, and have a credit score of about 680.







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A spacious back porch on a home being constructed through the Heart of Paducah Homebuyer Program.




A credit score in this range is required because the buyers will be qualifying for a mortgage.

Once an application is approved, families can choose a lot in the Walter Jetton neighborhood to build their house.

The City of Paducah is supporting the project through the Southside Incentive Program.

“The city has a set of surplus properties that they have available, and we allow our buyers to pick which of those available lots they would choose to take,” Poat said.

Buyers can choose from around ten floor plans to fit their budget and family size.

“We have houses that are two to four bedrooms, ranging from around 1,050 square feet to around 1,400 square feet,” Poat explained.







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The living room area inside a home being built by the Paducah Alliance of Neighbors. 




The house mortgages will cost anywhere from $85,000 to $110,000, making the monthly payment around $900.

Comparatively, a house currently being built for a family will cost them $100,000, and it was appraised for $168,000.

Because of the Paducah Alliance of Neighbors’s hard work securing funding, it can offer families housing at an affordable cost.

“We are really fortunate to have three different helping sources of funding for this program,” Poat said.

The Kentucky Housing Corporation and The Federal Home Loan Bank of Cincinnati offer funding through competitive grant programs. The grant money is used for mortgages and development costs.







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Paducah Alliance of Neighbors Executive Director Sharon Poat tours a new house being built for a family through the nonprofit.




Poat said all the work is worth it to see families enjoy their new houses.

“It’s incredibly rewarding to see people move into houses, pick out curtains… and to see people make themselves a home,” Poat said.

The Paducah Alliance of Neighbors is accepting applications until Jan. 8, 2024. You can download the application on their website under the services tab.

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