Five Percent Grant Money For Purchasing A Home

Dated: 11/04/2014

Views: 1470

There is a new program available with Home Bridge Financial Services where 5% GRANT is offered: that means that Buyers can actually buy a home for NO money out of their pocket.  

The Three guidelines are
:

 1. 640 minimum Credit Score

2.
  Income must be $88,200 or below. This is combined household income.

3.
 Debt Ratio is a 45% or less:
 

EXAMPLE:                FHA Purchase 3.5% down with a seller concession of $3,000:
Sales Price:                                                                         $250,000  
Down Payment:  3.5%                                                         
$8,750
Base Loan Amount:                                                         $241,250  
Loan amount with upfront FHA MIP:                       $245,471  5% Grant is calculated on this number: $12,274 is the Grant money available for this loan.  
Money Required:  
Down Payment:                                                               $8,750
 
Closing Costs:                                                                  $2,600
 
Escrows:                                                                           $1,500
 
Origination Fee:                                                               $2,410
Total money required:                                                   $15,260  
Credits:  
Grant Funds:                                                                     $12,274
 
Seller Credit:                                                                     $3,000
                                 
Total Credits:                                                                  $15,274  

TOTAL MONEY NEEDED TO PURCHASE THIS HOME USING THE 5% GRANT PROGRAM $.0.00 AN ACTUAL CREDIT BACK TO THE BORROWER.
 The borrower’s earnest money would be refunded to them at the closing.  Please call me today, so I can further explain the benefits to you for this program.
Denver Co Real Estate- Luba Jeltov
I specialize in Denver Colorado and surrounding communities of metro Denver area. If you are selling your home I will make sure you get TOP dollar. If you are looking to purchase a home I will make sure that you get the best deal possible. Please contact me directly via phone or text at 303-817-6818.

Luba Jeltov
Exit Realty Chery Creek
Direct: 303-817-6818    
Email: [email protected]       
www.lubasellsdenver.com
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Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

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