Teachers, Police Officers, Fire Fighters, Veterans, first responders, and other Heroes in our community can save thousands on their mortgage and real estate transaction through the Homes for Heroes program in Colorado.
The CO Homes for Heroes program is a program designed to honor community heroes who give back so much, to provide a more affordable home purchase or refinance.
As a Hero lender, we also have a network of affiliates who offer additional discounts on real estate related services and products such as movers, home inspectors, and moving supply companies. Partnering with our network can save our heroes literally thousands of dollars off their home purchase!The program enables Heroes to save by using a Colorado Homes for Heroes lender and to save even more by also partnering with a Homes for Heroes Realtor in CO.
The following categories of heroes are eligible:
Teacher Loans, Fire Fighter Loans, Police Officer Loans, Veterans, Active Duty Military, First Responders and Hospital workers, and non-profit employees.
You can find out more about the program at the official Homes for Heroes website.
Example of savings for a Homes for Heroes Teacher Loan CO on a $200,000 home purchase:
Total Closing Costs: $4000
Lender Discount: ($500)
Realtor Discount: ($1400)
Home Inspector Discount: ($100)
Moving expenses Discount: ($100)
Total Savings: $2100
Closing costs for Hero: $1900
There are also other programs that can save you even more. We are one of only a few Colorado lenders who offer the Colorado Home Buyer Tax Credit, or MCC Colorado. The tax credit allows the hero to take a percentage of their mortgage interest as a tax credit at the end of the year.
A tax credit as opposed to a tax deduction, is a dollar-for-dollar reduction of the home owner's tax liability. We are seeing, on average, a savings of $125-$175 per month, and sometimes quite a bit more, through the tax credit.
It is rare to find a lender who can offer both the CO Homes for Heroes program and the tax credit. We do both, and also have in-house underwriting and funding, which can be critical for a hassle-free loan process and an on-time closing.
Call RJ Baxter at 303-670-0137 today to find out if you qualify for the Hero program and the Colorado tax credit!
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