National Chocolate Covered Nut Day is observed each year on February 25th. It is a day for the delicious crunchy nut to be enjoyed once it has been covered in chocolate. The
Araphaoe County First Time Home Buyer Assistance Program
Are you a first-time home buyer looking in Arapahoe County, Colorado? Then this program might be for you. Take note that if you are looking in the city of Aurora, this program does not apply and there is a separate program through the city for you.
Qualified home owners can receive down payment and closing cost assistance for 6% of their loan up to a maximum of $10,000. This is a low-interest 2nd loan with a fixed interest rate of 3.0% and is amoritized over a period up to 15 years. To qualify, you must use the home as your primary residence and the purchase price cannot exceed 95% of the median home purchase price in Arapahoe County.
What type of home can you buy?
The home must be a single family detached home, duplex, townhouse, condominium or manufactured home permanently affixed to buyer-owned land.
The home must be located in unincorporated Arapahoe County or the cities of Centennial, Englewood, Glendale, Greenwood Village, Littleton, Sheridan or the Town of Deer Trail.
The home must be owner-occupied or vacant at the time an offer is made by the buyer, OR if the unit is tenant-occupied, the tenant must have been notified to vacate the home prior to the time a written offer is submitted. You are eligible to purchase the home you are currently renting.
The purchase price cannot exceed 95% of the current FHA mortgage limit.
The home to be purchased must be your principal residence.
The home must pass a Housing Quality Standards (HQS) inspection. This inspection is required to ensure that your new home is safe and livable.
Who is eligible?
Must be a first-time home buyer with U.S. citizenship or permanent resident alien status.
The applicant household’s adults must not have owned a home during the three years prior to purchasing a home in the program. Exceptions may be made if the applicant is a single parent, a displaced homemaker or if they are caring for live-in elderly (62 years or older) relative who has owned their own home. (In order to qualify for this exception, the elderly relative may no longer own the home in question.)
You must have a minimum of $1,000 in verifiable, available funds to put towards your down payment and closing costs.
Your credit bureau reports must evidence timely debt repayment. If you have had a bankruptcy, the bankruptcy must have two years of discharge with the last 12 months free of late payments.
The total of your proposed mortgage payment (principal, interest, taxes, & insurance), homeowners association dues (if any) and monthly consumer debt cannot be more than 45% of your gross monthly income
Your household income must fall at or below 80% of the Denver Metro Area Media Income (AMI) established by the U.S. Department of Housing and Urban Development and updated annually:
2014 Income Limits Number of People in Household Household Income 1 $42,950 2 $49,100 3 $55,250 4 $61,350 5 $66,300 6 $71,200 7 $76,100 8 $81,000
Are you tired of renting? Looking to build equity through home ownership? Let me help you get into a home of your own -- call me today!
Denver Colorado area real estate -- Darrick Kizlyk -- Realtor at EXIT Realty DenverTech Center and EXIT Realty Pikes Peak. Darrick Kizlyk is your relocation expert using his training in education, geography, and real estate for Denver, Colorado Springs, and the southern bedroom communities of Parker, Castle Rock, and Monument. Call me for all your sales needs or let me get you into the house of your dreams! Darrick Kizlyk 719-360-3935
With 12 years in public education as a teacher and 3 years as a Realtor, I bring that background to help educate home buyers and sellers along the Front Range from Denver to Colorado Springs and up th....
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