FRANKFORT, Ky. (AP) - Gov. Steve Beshear has signed a bill that will raise Kentucky Housing Corp.'s bonding limit from $2.5 billion to $5 billion.
The Democratic governor said the measure will enable the state's housing finance agency to assist some 25,000 additional homebuyers with mortgage loans.
The agency serves primarily first-time homebuyers with loans at or below market rates. It also offers financial help with down payments and closing costs.
The legislation is House Bill 373.
(Copyright 2008 by The Associated Press. All Rights Reserved.)