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Down Payment Assistance Programs

“Looking For Down Payment Assistance Programs In Colorado?”

 

If You’re A First-Time Homebuyer, Veteran Or You’ve Been Through A Bad Experience With A Mortgage Lender, You Can Count On The Team at Elevation Mortgage! With Us, You Overcome Hurdles Fast. Call: (719) 247-6622

Down Payment Assistance Programs In ColoradoSome homebuyers are likely to forget factoring in closing costs and down payments, so it makes you are here for help with down payment assistance programs in Colorado when you’re looking to purchase.

This is where down payment assistance in Colorado can help.

It is designed to be an affordable program for low- to moderate-income homebuyers with the purchase of their first home.

We can help you apply for down payment assistance from qualified lenders.

When considering down payment assistance programs in Colorado, you need to make sure that the home meets the US Department of Housing and Urban Development’s minimum standards for safety and health.

Moreover, you need to make sure that you are qualified for a mortgage under a private lending institution.

Once you are eligible for down payment assistance programs in Colorado, you can get a forgivable loan and it will be deferred for a five-year period.

After that, the loan is forgiven as long as you meet the requirements stated in your promissory note and deed.

Down payment assistance programs in Colorado are practical to use as payment for closing costs and of course.

Take note that the number may vary according to the kind of mortgage you have.

Keep in mind that to qualify for Colorado down payment assistance programs and any government-supported mortgage loan, you (the borrower) should occupy the home as a primary residence.

Our grant programs help alleviate the burden of down payment costs as well as closing costs associated with buying a home.

Put your trust in Elevation Mortgage for help with down payment assistance programs in Colorado!

 

If You’re A First-Time Homebuyer, Veteran Or You’ve Been Through A Bad Experience With A Mortgage Lender, You Can Count On The Team at Elevation Mortgage! With Us, You Overcome Hurdles Fast. Call: (719) 247-6622

 

Down Payment Assistance

At Elevation Mortgage, we want to ensure everyone that wants to buy a home has the ability to do so. That is why we offer down payment assistance programs for families that don’t have the money for the down payment. Whether you use this for closing costs or as a down payment, the choice is yours. Here are a few benefits and program highlights:

  • Income restricted to 80% AMI (Average Medium Income). 
  • Only requires $1,000 from the borrower
  • Minimum credit score is 620
  • Must be a primary residence
  • Not limited to first-time home buyers
  • Debt ratio cant exceed 45%
  • No minimum or maximum reserves required
  • Can be used with a Conventional or FHA loan, No VA

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