Get the 5% grant for home buyers in Greenwood Village Colorado! No first time home buyer requirement, and no requirement to repay the grant funds! The NHF Platinum in Greenwood Village 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. http://bit.ly/1m6ksuo
Unlike many of the other down payment assistance programs in Greenwood Village 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! So what's the catch you ask?
There are a few, but the program does accept most home buyers in Greenwood Village Colorado. The main qualifying factor is that there are income limits for qualifying 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 the link to the NHF Platinum County Loan Limits in CO.
http://bit.ly/1oxCKEo
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%. What this means is that your total monthly debt payments including the new mortgage cannot exceed 45% of your gross income. Credit scores are also set at a 640 minimum.
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 Greenwood Village Colorado and is available for FHA, VA, Conventional, and USDA financing. Here is a link to the NHF Platinum website.
http://bit.ly/1m6kCSu
There are many other programs that you may be able to use in tandem with the NHF Platinum program. The Greenwood Village Colorado MCC Tax Credit, and the Homes for Heroes program are the two main ones that can save you additional money. 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.
http://www.mcccolorado.com
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 fantastic program!
