5% down payment assistance grant for home buyers in Littleton Colorado. No first time home buyer requirement, and no requirement to repay the grant funds!
http://bit.ly/1m6ksuo
The NHF Platinum program helps home buyers in Littleton CO with down payment and closing costs up to 5% of the sales price of your home.
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!
What's the catch you ask?
There are a few, but most Littleton Colorado home buyers can qualify for the program. 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/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 stingent on other qualifying guidelines. For example, your debt-to-income ratio 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. Your credit score must also be higher than many lenders will accept, a 640 minimum score is required.
The NHF grant program is only for primary residence home buyers 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 Littleton 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 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 Littleton 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. Homes for Heroes is a discount program for heroes in our community such as fire fighters, police officers, teachers, and Veterans.
http://bit.ly/1m6kCSu
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!
http://www.mcccolorado.com
