Get down payment assistance in Boulder County Colorado! Up to a 5% grant for home buyers. No first time home buyer requirement, and no requirement to repay the grant funds!
http://bit.ly/1m6ksuo
The NHF Platinum program is a Boulder County Colora CO do grant program (also available in other states) to help home buyers with down payment and closing costs up to 5% of the sales price of your home.
Unlike many of the other down payment assistance programs in Boulder County Colorado, there is no first time home buyer requirement. However, you must plan to occupy the home as your primary residence. The CO NHF Platinum program is a grant, not a loan, so it never has to be repaid!
http://bit.ly/1oxCKEo
What's the catch you ask?
There are a few, but the program does accept most home buyers in Boulder County CO. The main qualifying factor is that there are county income limits for qualifying for the CO NHF Platinum program. Your qualifying income (income used to qualify for the mortgage) must be at or under 115% of the median income in the county where you are looking to buy. Here is the link to the NHF Platinum County Loan Limits in CO. http://bit.ly/1m6kCSu
In most of the Denver metro area the 2014 income limit is $88,205, with Larimer County sitting at $84,525 and El Paso County currently at $82,685.
The program is also has slightly more picky underwriting guidelines in a couple other areas. Debt-to-income ratio can't exceed 45%. That number is high for most non-HNF programs. What this means is that your total monthly debt payments including the new mortgage cannot exceed 45% of your gross income. Your credit score must also be higher than many lender have as their normal minimum, a 640 minimum score is required.
Non-occupying co-signers are not allowed and the home must be your primary residence, which can make things a little more tricky especially if you are a first time buyer.
The 5% grant is available throughout the state of Boulder County CO. Most types of primary mortgage financing are eligible- FHA, VA, Conventional, and USDA. Here is a link to the NHF Platinum website.
There are several other programs that you are available to use in tandem with the NHF Platinum program. Two other savings programs are the Boulder County Colorado MCC Tax Credit http://www.mcccolorado.com , and the Homes for Heroes program. The tax credit is for first time home buyers or Veterans, and basically will get you a tax credit of 20% of your mortgage interest for the life of your home loan. The Homes for Heroes program is a real estate discount program for heroes in our community such as fire fighters, police officers, teachers, and Veterans.
In order to receive the 5% down payment grant, you must work with an approved NHF Platinum lender. We are an approved NHF lender. Call RJ Baxter today to find out if you qualify for this outstanding program!
