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Time to Take Action

Posted on March 28, 2013 by Ray Williams (NMLS #216267).

READY, SET, ACTION!  

Time to take action and find out about great new(and existing) programs that are helping more individuals and families with low/moderate incomes have the dream of owning their own home!

Over the past few weeks I’ve been blogging information on not only new but also some already existing programs available for home buyers in the Denver Metro area.  Listed below are the existing and new programs available for first-time home buyers and Non first-time home buyers.

First, The MCC, what is the MCC?- aka, the Mortgage Credit Certificate, this is an existing opportunity that has been available for first-time home buyers, but is just now getting some more exposure and gaining some steam because  more buyers are being informed and introduced through real estate agents, lenders, friends/family, internet, etc. Which is great because the MCC I highly encourage ALL first time home buyers to take advantage of and find out about.  It is a certificate issued by the State, allowing you to claim a tax credit for a portion of the mortgage interest paid during a given tax year for the life of the loan!  Allowing you to claim 20-50% of the mortgage interest as a tax credit.  The remaining mortgage interest is still tax deductible.  Meaning, the credit reduces the amount of federal taxed owed.  It can help put more money in your pocket, literally! Click here to find out more.

Second, The CHFA Advantage Loan Program– This is a loan for first-time homebuyers that awards those who have been credit savvy! If you have a credit score of 700+, this loan offers a 3% down payment with no MI (mortgage insurance)! And you can still use DPA (down payment assistance) for the 3% down if needed. Click here for more info.

Third, The Denver MMA Program –aka, Denver Metro Mortgage Assistance. This loan became recently available on March 15, 2013.  The loan includes a 4% (of note) as a down payment assistance grant (not a loan), available to NON first time home buyers!  This is a super unique program because it is a grant for the DPA, and that it is offered to NON first-time homebuyers, but those aren’t the only unique factors for this program… click here to find out more.

Again, this is just a brief overview for these programs available to home buyers. Depending on your circumstance and situation there may be other programs available for you.

As always please call your lender to discuss and/or please give us a call or contact us for further information. Please note that you must work with an approved lender for these programs. (wink, wink, we are approved!)

If you would like to get pre-approved please contact us and/or complete our secureonline loan application.

Again, I hope you found this information to be helpful.  Please make sure to follow me on Twitter, “like” us on Facebook, and follow my blog !

Cheers~

Ray Williams

Branch Manager

Summit Mortgage Corporation

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