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Real Estate Agent Superstars

5% down payment assistance grant for home buyers in 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 in Colorado is a grant program designed to help home buyers with down payment and closing costs assistance up to 5% of the sales price of the property. 

The home you are purchasing must be your primary residence, but unlike many other down payment assistance programs, there are no first time home buyer requirements. The CO NHF Platinum program is a grant, not a loan, so it never has to be repaid! http://bit.ly/1oxCKEo

So what's the catch you ask? 

There are a few, but the program does accept many Colorado home buyers. 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. 

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 a little more strict on other qualifying guidelines. Debt-to-income ratio, for example, can't exceed 45%. In other words, 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 Colorado and is available for all common loan programs- FHA, VA, Conventional, and USDA financing. Here is a link to the NHF Platinum website. http://bit.ly/1m6kCSu

We have several other programs that you may be able to use in tandem with the NHF Platinum program. Two which we are involved in are the Colorado MCC Tax Credit, 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. http://www.mcccolorado.com

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!