The City and County of Denver 2007 Metro Mortgage Assistance bond program has been extended!
This is excellent news for 1st time buyers and those that haven’t owned a home in over 3 years (requirement waived for qualified veterans). Currently, there is over $4.6 million of funds remaining in the program. Buyers, through participating lenders such as Paul Barton at Cherry Creek Mortgage, have access to the remaining funds at the 6.33% mortgage rate along with a non-repayable grant equal to 4% of the original loan amount for down payment and closing cost assistance.
The program is available for homes purchased in Denver and most of the surrounding cities (Aurora, Centennial, Littleton, etc.). The deadline to submit a loan for this program is January 9, 2009 and the final loan purchase date is now January 23, 2009, although I recommend applying for the funds as soon as possible since the funds will likely be depleted before the deadline. The income limits vary depending on where you will be buying the home and the size of your family.
If you or someone you know is interested in buying a home, please contact myself (720-289-0260) or Paul Barton (720-200-6870) to get more details.