A new loan program has been launched in Denver and Littleton to help low to medium income home buyers into properties.
The program offers a 4% grant for down payment and closing cost assistance which the borrower does not have to repay. The programs offers a fixed 30 year interest rate.
This loan program is offered to all home buyers, not just first time home Buyers in Denver. There is no maximum purchase price or time limit on when the purchasers last owned a home.
Some of the basic qualifications of this program are
* Complete home buying counseling
* Minimum credit score of 640
* Income limits of $91,000 for households of 2 or fewer people, and not more than $103,000 for 3 people or more
* It has to be the primary residence
* Applies to new construction and re-sales
* Mortgage refinancing does not apply