Do you serve our community in Arvada Colorado as a police officer and are looking to buy a home? There are several police officer loan discounts and Arvada Colorado police officer mortgage loan programs available. Save thousands or tens of thousands when you purchase a home and use these three programs in Arvada.
These programs are the Homes for Heroes program, the Arvada Home Buyer Tax Credit, or MCC, and the officer 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 Arvada an incredible place to live. Arvada 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.
The more HFH network providers you use, the more savings. Receive discounts from Realtors, contractors, etc. whether you are buying a home or refinancing, you can claim these discounts.
Many Police Officer mortgage loans in Arvada qualify for the tax credit, or Mortgage Credit Certificate (MCC). The MCC is a program for home purchase transactions (or a refinance if you have an existing MCC on your current loan). Your tax credit savings, on average, will be 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 MCC tax credit, you must be either a first time home buyer, Veteran, OR purchase a home in a "targeted" area, and you must fall under the income limits in your county. Many Arvada Police Officer mortgage loans qualify for the tax credit!
Arvada Police Officer Next Door Program
A program to help police officers purchase homes at a discount, the Officer Next Door, also called the Good Neighbor Next Door Program, is available in Arvada. 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.
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. After that, you must then live in the home for at least 3 years as your primary residence.
After that, the silent 2nd is forgiven, leaving you with substantial equity in the home. These are three great ways to save on Arvada Police Officer mortgage loans. 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 police officer loans Arvada. You can rest assured that you will have an on-time closing and the best service because of our in-house underwriting and funding.
Call RJ Baxter in the office at 303-670-0137 to see what you qualify for or visit us at www.cohomesandloans.com. We will provide honest answers to your questions about Arvada police officer mortgage loans!
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