Mortgage Tip of the Day
Just a quick reminder about the down payment assistance funds that are available to first-time homebuyers (anyone who has not been on title in the past 3 years) from the Colorado Housing Assistance Corporation (CHAC).
CHAC offers up to $5,000 statewide for closing costs and down payment assistance. The interest rate is only 5% and the borrower pays $50 a month until the loan is paid off.
There are other programs available depending on where the property is located. One program goes as high as $15,000.
All of CHAC's programs are subject to income restrictions, so not everyone will qualify, but CHAC is a great source of funds for those who do qualify. It's worth checking out.
Call me, I can help - Shelli Dore 303-942-0648