Colorado Are you a police officer in Boulder Colorado and looking to buy a home?
This article outlines the police officer mortgage discounts and Boulder Colorado police officer mortgage loans. Save thousands or tens of thousands when you purchase a home and use these three programs in Boulder. The three programs are: Homes for Heroes, the Boulder Home Buyer Tax Credit, or MCC, and the officer next door program.
In order to honor heroes in our community, we offer the Homes for Heroes program, for those who give so much to make Boulder an incredible place to live. Boulder Police Officers are one of the groups that we honor through this program. The HFH program gives police officers mortgage discounts off their closing costs. By using other HFH network providers such as Realtors, contractors, etc, you will receive additional discounts. Discounts can be claimed when either buying or refinancing.
You can receive the home buyer tax credit, or Mortgage Credit Certificate (MCC) on many Police Officer loans in Boulder. The tax credit applies for home purchase transactions (or a refinance if you have an existing MCC on your current loan). Your tax credit savings, on average, will be between $125-$250 per month off your mortgage interest for the life of your loan, translating to tens of thousands of dollars in savings! To qualify for the MCC tax credit, you must be either a first time home buyer, Veteran, OR purchase a home in a "targeted" area, and you must fall under the income limits in your county. These parameters for the tax credit apply to many Boulder Police Officer mortgage loans!
Boulder Police Officer Next Door Program
A program to help police officers purchase homes at a discount, the Officer Next Door, also called the Good Neighbor Next Door Program, is available in Boulder. To qualify, you must purchase your home in a targeted area (hint: targeted areas qualify for the tax credit!), and will be able to buy the home at a steep discount, at 50% off the listing price. You will have a "silent" 2nd mortgage for the remainder of your home purchase, meaning there is no payment or interest on this portion of your loan.
You must then live in the home for at least 3 years as your primary residence, and after that, the silent 2nd is forgiven, which will leave you with substantial equity in the home. These are three great ways to save on Boulder Police Officer mortgage loans. It is critical to work with a mortgage lender who can access all of these programs for you, and who understands the unique aspects of police officer loans Boulder.
In-house underwriting and funding that we can provide will assure an on-time closing and the best possible service. To get your questions answered, call RJ Baxter in the office at 303-670-0137 or visit us at www.cohomesandloans.com. We will provide honest answers to your questions about Boulder police officer mortgage loans!
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