Home buyers across the Denver Metro may qualify for a down payment and closing cost grant of up to 4% of your loan through the Metro Mortgage Assistance Plus program. Participating municipalities including but not limited to Denver, Littleton, Centennial and Englewood are sharing a pool of $15 Million available to home buyers who qualify, to bring home ownership within reach. This program is expected to last through 2014; however it’s available on a first-come, first-served basis until the funds run out.
Several guidelines to qualify include:
- Household income of $91,100 or less for two or fewer persons or $103,000 for three or more;
- Minimum FICO score of 640 and ability to meet standard loan guidelines
- Participate in a homebuyer counseling session;
- Purchase a home in one of the jurisdictions participating: Denver, Arvada, Aurora, Boulder, Brighton, Broomfield, Centennial, Dacono, Edgewater, Englewood, Golden, Lakewood, Littleton, Parker, Sheridan, Thornton, Westminster or Wheat Ridge; and
- Utilize a lender who is approved to offer this program.
To find out if you qualify contact a lender to explore your specific income, debt and credit factors. If you are seeking a lender, I’d be happy to supply a list of preferred lenders who have offered excellent service to previous home buyers.
Additionally, the city and county of Denver offers a Mortgage Credit Certificate (MCC) to first time buyers who qualify for a federal tax credit of up to $2,000. This program is available through December 31, 2014.
For more information on the Metro Mortgage Assistance Plus program visit their website by clicking here.
For more information on the MCC program visit their website by clicking here.
I’m here to serve and answer your questions if you’re thinking of buying a home in the Denver metro area – Jennifer Blake, Denver Realtor®