Looking to buy a home in Castle Rock Colorado? Are you a teacher? Learn more about the incredible savings you can receive on Castle Rock Colorado teacher mortgages. You can save you thousands or tens of thousands on your home purchase with these three programs in Castle Rock.
The programs are the Homes for Heroes program, the Castle Rock Home Buyer Tax Credit, or MCC, and the teacher 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 Castle Rock an incredible place to live. One of the groups that we honor through this program are Castle Rock teachers.
The HFH program gives teachers mortgage discounts off their closing costs. You can receive additional discounts by using a HFH Realtor or other HFH professionals. You can receive discounts when either buying or refinancing.
Colorado Home Buyer Tax Credit
The tax credit, also called the Mortgage Credit Certificate (MCC) is also available for teachers in Castle Rock. You can claim the tax credit on a home purchase transaction (or a refinance if you have an existing MCC on your current loan).
We are seeing savings of between $125-$250 per month (average) off your mortgage interest for the life of your loan. This means tens of thousands of dollars in savings!
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 Many Castle Rock Teacher mortgage loans qualify for the tax credit!
Colorado Teacher Next Door Program
The Good Neighbor Next Door Program, also called the Teacher Next Door Program, is designed to help teachers purchase homes at a discount. You must purchase the 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% of the list 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 the three best Castle Rock teacher mortgage loans and discounts available. 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 teacher loans Castle Rock.
Our in-house underwriting and funding will assure an on-time closing and the best service. Call RJ Baxter in the office at 303-670-0137 to discuss your options or visit us at www.cohomesandloans.com.
We will provide honest answers to your questions about Castle Rock teacher mortgages!
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