My lender has just given me information about a Down Payment assistance program called Metro Mortgage Assistance Plus.
What is this program?
This is a special grant program for low and moderate income individuals and families that seeks to bring the dream of home ownership within reach. We know that lacking the funds for a down payment is often a barrier to home ownership. As you apply for a 30-year fixed rate mortgage, the MMA Program helps with down payment and closing cost assistance of up to 4% of your loan!
Do You have to pay back this down payment grant in the future? No! This is your incentive to take the exciting step to apply and qualify for a home mortgage.
Maximum Income restriction for a family of 2 or less is $91,100 and a family of 3 or more is $103,000.
The home you want to buy must be in one of these areas: Denver, Arvada, Aurora, Boulder, Brighton, Broomfield, Centennial, Dacono, Edgewater, Englewood, Golden, Lakewood, Littleton, Parker, Sheridan, Thornton, Westminster, or Wheat Ridge can be purchased through this program; the home must be within the incorporated city limits of the participating city. In addition, Jefferson County is a program participant for properties within unincorporated areas like Evergreen, Conifer, and Morrison.
There are some credit score & debt-to-income ratio restrictions, and education requirements plus standard loan guidelines so if you are in the market to buy a home this year and you meet the income and destination requirements above, give me a call at 303-679-0360 so I can give you more information and discuss your buying needs.
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