Starting this week CHFA has announced that for Colorado Residents a new Down Payment loan. This looks to be a great deal for those people needing help coming up with a Down Payment. This is a one year loan that is interest free!!! Check out the details:
If you are a first time home buyer you must purchase a home before Dec. 1, 2009 and get a tax credit refund of $8000.
If you qualify for the down payment loan with CHFA you can use it for down payment and closing cost assistance. This loan is good for $6000 with an admin fee of $350.
Next year when you receive the tax credit you will pay off the CHFA Loan before June 30, 2010 and pay no interest also you will get $250 of the admin fee returned. If you do not pay this back you will have to pay 8 Percent over 10 years on this loan.
There are income limits that do apply for this program depending on which county and family size. There are also purchase price limits that do apply. Please call me to determine which county you live in.
This is an AMAZING Deal to have buyers buying a home TODAY in Colorado Springs!!! Please call me to get qualified and looking for your new home.
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719-322-4939
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