Colorado residents are eligible for a wonderful mortgage assistance program known as “Metro Mortgage Assistance Plus”. If you are a potential homeowner, read on to find out more about this innovative program.
What is the Metro Mortgage Assistance Plus Program?
The Metro Mortgage Assistance Plus Program is a special program intended to help low and middle income potential homeowners realize their dream of homeownership. Participants in the program receive assistance in the form of a grant to be used towards the down payment and closing costs of their home mortgage. The grant does not need to be paid back at any point during the process.
Do I Qualify For This Program?
Participants must meet certain financial guidelines. Families of 3 or more members cannot exceed a yearly income of $103,000.00. Households of 2 or less can make up to $91,100.00. Program participants must have a FICO score of at least 640.
If you are purchasing a manufactured home, your FICO score must be 660. Participants must also have a debt to income ratio that is no higher than 45. Homeowners applying for the Metro Mortgage Assistance Plus Program must also intend to be the primary occupants of the home.
What Towns and Types of Homes are Eligible?
This program is currently available in a number of towns across Colorado. Denver and Boulder are just 2 of the cities that are eligible. New towns are being added regularly, so be sure to check with your mortgage lender for the most up to date information.
The types of homes that are eligible for this program are:
- Single Family, Detached Home
- Manufactured Home
How Do I Apply For This Program?
Potential applicants can speak directly with their mortgage lender for more information. For a list of participating financial institutions, please visit the Metro Mortgage Assistance Plus website.Kammie Randal Lic. # 501309 LMB100044494 Mortgage Advisor
New American Funding
5299 DTC BLVD. Suite 300
Greenwood Village, CO 80111