$22,000
Assistance Towards the
Purchase of Your Home!
Attention First Time Homebuyers Planning your Next Move in Colorado!
One city in Colorado is offering a "Hard to Pass Up" program
for first time homebuyers
Here's the Scoop...
A Gift from Uncle Sam!...First, the Federal Government is offering the well known $8000 Tax Credit to first time homebuyers. Hurry! This program is only good through April 2010.
Now, add this!... In addition to this CHAC(Colorado Housing Assistance Corporation) is offering a low interest down payment assistance loan in the form of a second mortgage that is equal to 6% of the purchase price. The average is $7000 for this special city. Wooo-Hooo!!!
Wait, it gets better! Here's the best part...Properties in this city have always sold for more than the properties in the surrounding areas and that has prevented some of the qualified applicants from being able to use CHAC's down payment assistance program. This has prompted this city to provide the additional down payment assistance. The city is partnering with this organization to provide an ADDITIONAL DOWN PAYMENT assistance of approximately $7000 to each applicant who qualifies for the program. (This money comes from the city's jurisdictional allotment of Federal Community Development Block Grant funds)
From CHAC:
Loan Amount - 6% of the purchase price up to $10,000 (Which ever is less)
Loan Terms:
1.Payments starting right away at 2% interest
or..
2.Payments and interest deferred 5 years.
Payments starting 61st month, interest rate 6%
Total term including deferral period 360 months
Payments include a $5.00 per month servicing fee
Fees - $200 loan commitment fee, $100 doc prep fee, $11 recording fee.
In some circumstances both County programs may be used together
If you are a first time homebuyer (Not working with another agent...Be honest!) and think you may qualify for this program contact us for more information about which city and lender is offering this great program!
1-866-838-9063
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