New Down Payment Assistance Program Available!
There is a “New” Mortgage Assistance Program available starting tomorrow, March 19, 2013 and Summit is proud to be offering this Program. Only 8 Lenders are approved and we are one them!
This is going to help many home buyers, it is another effort to help rebuild and create home ownership and stabilization for Metro Denver. The City and County of Denver has been very proactive in helping with neighborhood stabilization programs, including theMortgage Credit Certificate (MCC). This current program is available for the City and County of Denver and in participating MMC jurisdictions (contact us for more details).
Here is some key information on the MMA Program
What is it?
It is a loan that includes a grant for 4% of the note for down payment assistance. Keyword: Grant, this is not a second or loan for down payment assistance.
Who is eligible?
- Must be purchasing a primary residence
- Must occupy property within 60 days of closing
- Must have an Government loan (FHA, VA, USDA)-Not for a Conventional Loan
- FICO mid score must be 640 or higher
- Max DTI ratio 45%
*NO First-Time home buyer requirement!
There are income limitations so please be sure to check out our page with detailed information.
Summit Mortgage Corporation
303-779-0591 ext. 101