Are you a Douglas County CO teacher who is looking to buy a home?
There are three main programs that are available to teachers in Douglas County CO hat can give you thousands or tens of thousands in savings on your home purchase.
The three programs are: The Douglas County CO Home Buyer Tax Credit (Mortgage Credit Certificate), the Homes for Heroes program, and the teacher next door program.Learn more about the incredible savings you can receive on Douglas County Colorado teacher mortgages.
The Homes for Heroes program is designed for heroes in our community, those who give so much to make Douglas County an incredible place to live. Douglas County teachers are one of the groups that we honor through this program.
The HFH program gives teachers mortgage discounts off their closing costs. Using other providers in the HFH network such as Realtors, contractors, etc, will get you additional discounts. Receive discounts on both your home purchase or refinance loan.
Colorado Home Buyer Tax Credit
The tax credit, also called the Mortgage Credit Certificate (MCC) is also available for teachers in Douglas County CO. You can claim the tax credit on a home purchase transaction (or a refinance if you have an existing MCC on your current loan). The tax credit will save you, on average, 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 tax credit, you must fall under your county income limits, which are generous, and be either a first time home buyer, Veteran, OR purchase a home in a "targeted" area. Your Douglas County Teacher mortgage loan can likely 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 a home in a targeted area (most targeted areas qualify for the tax credit too!), and essentially purchase the home 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 Douglas County CO Teacher mortgage loans and discounts available.
It is important to work with a lender who has access to all of these programs who understands the unique aspects of teacher loans Douglas County CO. We have in-house underwriting and funding meaning that you will receive the best possible service and will meet your contract deadlines.
Call RJ Baxter in the office at 303-670-0137 to get pre-qualified or visit us at www.cohomesandloans.com. We will provide honest answers to your questions about Douglas County CO teacher mortgage loans!
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