Get the 5% grant for home buyers in Broomfield County Colorado ! You don't have to be a first time home buyer and never have to repay the grant funds! http://bit.ly/1m6ksuo
The NHF Platinum program is a Broomfield County Colorado 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 Broomfield County CO, there is no first time home buyer requirement. However, you must plan to occupy the home as your primary residence. In addition, the Broomfield County Colorado NHF Platinum program is not a loan, it'a a grant, so never has to be repaid! http://bit.ly/1oxCKEo
So what's the catch you ask?
There are a few, but most Broomfield County CO home buyers can qualify for the program. The main qualifying factor is that you must fall under the income limits for the 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 a link to the NHF Platinum County Loan Limits in Broomfield County Colorado .
Most of the Denver metro area has a 2014 income limit of $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 lenders will accept, a 640 minimum score is required.
Only first time buyers can qualify for the NHF Platinum program and you can't have a non-occupying co-signer, which can make things a little more tricky especially if you are a first time buyer.
The 5% grant is available throughout Broomfield County CO and is available for all common loan programs- FHA, VA, Conventional, and USDA financing. Here is a link to the NHF Platinum website.
There are many other programs that you may be able to use in tandem with the NHF Platinum program. Two which we are involved in are the Broomfield 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 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 wonderful program!
