Do you serve our community in Broomfield Colorado as a police officer and are looking to buy a home? This article outlines the police officer mortgage discounts and Broomfield Colorado police officer mortgage loans. Save thousands or tens of thousands when you purchase a home and use these three programs in Broomfield.
These programs are the Homes for Heroes program, the Broomfield Home Buyer Tax Credit, or MCC, and the officer next door program.
To honor your service to our community, we offer the Homes for Heroes program, for those who give so much to make Broomfield an incredible place to live. Broomfield Police Officers are one of the groups that we honor through this program.
The HFH program will give you police officer mortgage discounts off you home loan closing costs. By using other HFH network providers such as Realtors, contractors, etc, you will receive additional discounts. whether you are buying a home or refinancing, you can claim these discounts.
Broomfield Home Buyer Tax Credit
The tax credit, or Mortgage Credit Certificate (MCC) is available on many Police Officer loans in Broomfield. The tax credit applies for home purchase transactions (or a refinance if you have an existing MCC on your current loan).
The tax credit savings are tens of thousands of dollar, on average, between $125-$250 per month off your mortgage interest for the life of your loan! To qualify for the MCC tax credit, you must fall under your county income limits and be either a first time home buyer, Veteran, OR purchase a home in a "targeted" area. These parameters for the tax credit apply to many Broomfield Police Officer mortgage loans!
Broomfield Police Officer Next Door Program
The officer next door program, or Good Neighbor Next Door, is a program to help police officers purchase homes at a discount. Only certain homes qualify, you must purchase the home in a targeted area, and will be able to buy the home at a steep discount, at 50% of the list price (hint: targeted areas qualify for the tax credit).
There will be a "silent" 2nd mortgage on your home covering the amount over your 50% first mortgage, meaning there is no payment or interest on this portion of your loan. You must occupy the home for at least 3 years as your primary residence, then the silent 2nd is forgiven!
This will leave you with a substantial amount of equity in your new home. These three great discounts will help you save on Broomfield Police Officer mortgage loans. It is essential that you work with a mortgage lender who can access all of these programs for you, and who understands the unique aspects of Police Officer loans Broomfield.
Our in-house underwriting and funding will assure an on-time closing and the best 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 Broomfield police officer mortgage loans!
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