5% down payment assistance grant for home buyers in Highlands Ranch 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 helps home buyers in Highlands Ranch 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!
http://bit.ly/1oxCKEo
So what's the catch you ask?
There are a few, but the program does accept most home buyers in Highlands Ranch Colorado. 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/1m6kCSu
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 Highlands Ranch CO and is available for all common loan programs- FHA, VA, Conventional, and USDA financing. Here is a link to the NHF Platinum website.
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 Highlands Ranch 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.
NHF Platinum is only available to approved CO lenders. We are an approved NHF lender. Call RJ Baxter today to find out if you qualify for this outstanding program!
