Looking to buy a home in Evergreen Colorado? Are you a teacher? This article will help you learn about the substantial teacher mortgage loans in Evergreen CO.
There are several programs available to teachers in Evergreen CO that can save you thousands or tens of thousands on your home purchase. These programs are the Homes for Heroes program, the Evergreen CO Home Buyer Tax Credit, or MCC, and the teacher next door program.
The Homes for Heroes program is designed for heroes in our community, those who give so much to make Evergreen CO an incredible place to live. One of the groups that we honor through this program are Evergreen CO 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. These discounts are available for either home purchases or refinance loans.
Colorado Home Buyer Tax Credit
The tax credit, also called the Mortgage Credit Certificate (MCC) is also available for teachers in Evergreen CO. The MCC is a program that is available only 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. This means that many Evergreen CO Teacher mortgage loans qualify for the tax credit!
Colorado Teacher Next Door Program
The teacher next door program (Good Neighbor Next Door) 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 then the silent 2nd is forgiven, leaving you with substantial equity in the home.
These are the three best Evergreen CO 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 Evergreen CO.
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 get pre-qualified or visit us at www.cohomesandloans.com. We will provide honest answers to your questions about Evergreen CO teacher mortgages!
Comments (0)Subscribe to CommentsComment