Attention police officers in Lakewood Colorado: Are you looking to buy a home? This article outlines the police officer mortgage discounts and Lakewood Colorado police officer mortgage loans.
Savings are in the thousands or tens of thousands if you use these programs on your home purchase in Lakewood. The three programs are: Homes for Heroes, the Lakewood Home Buyer Tax Credit, or MCC, and the officer next door program.
Homes for Heroes honors heroes in our community like you, police officers who give so much to make Lakewood an incredible place to live. Lakewood Police Officers are one of the groups that we honor through this program.
Police officers will receive mortgage discounts off their closing costs through the HFH program. Using other providers in the HFH network such as Realtors, contractors, etc, will get you additional discounts. whether you are buying a home or refinancing, you can claim these discounts.
Lakewood Home Buyer Tax Credit
The tax credit, or Mortgage Credit Certificate (MCC) is available on many Police Officer loans in Lakewood. The MCC is a program for home purchase transactions (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 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 Lakewood Police Officer mortgage loans qualify for the tax credit!
Lakewood Police Officer Next Door Program
The officer next door program, or Good Neighbor Next Door, is a program to help police officers purchase homes at a discount. 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. 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.
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 three great discounts will help you save on Lakewood 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 Lakewood.
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 find out more about these programs or visit us at www.cohomesandloans.com. We will provide honest answers to your questions about Lakewood police officer mortgage loans!
Comments (0)Subscribe to CommentsComment