Get the 5% grant for home buyers in Larimer County Colorado ! No repayment and no first time buyer requirement!
http://bit.ly/1m6ksuo
The NHF Platinum program is a Larimer County CO 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.
http://bit.ly/1oxCKEo
You must plan to live in the home as your primary residence, but unlike many other down payment assistance programs, there is no first time home buyer requirement. In addition, the Larimer County Colorado NHF Platinum program is not a loan, it'a a grant, so never has to be repaid!
What's the catch you ask?
There are a few, but most Larimer County Colorado home buyers can qualify for the program. 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 a link to the CO NHF Platinum County Loan Limits. http://bit.ly/1m6kCSu
Most of the Denver metro area has a 2014 income limit of $88,205. Larimer County sits at $84,525 and El Paso County is currently at a $82,685 limit.
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.
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 the state of Larimer County CO and is available for 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. The Larimer County CO MCC Tax Credit http://www.mcccolorado.com 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. 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.
You must work with an approved NHF Platinum lender in order to receive the 5% grant. We are an approved NHF lender. Call RJ Baxter today to find out if you qualify for this outstanding program!
