Posts tagged buyers
Boulder expands grant assistance available for low- and middle-income home buyers
Aug 22nd
The City of Boulder has joined other jurisdictions in the Metro Mayor’s Caucus in making homeownership more affordable through a non-repaid grant available to low- and middle-income buyers.
The program provides a competitive 30-year fixed-rate mortgage with a grant for down-payment assistance equal to 4 percent of the mortgage amount. Income requirements are less than $91,100 for households of two or fewer persons, and less than $103,000 for three or more.
“This is a great opportunity for qualified individuals,” said Jeff Yegian, acting manager of the Division of Housing. “City of Boulder participation in this program adds another resource to make homeownership in Boulder more accessible to low- as well as moderate- and middle-income households.”
Other conditions for participation include:
- Standard loan guidelines must be met.
- Buyers must have a minimum FICO score of 640 (660 for manufactured homes), and a maximum debt-to-income ratio of 45 percent.
- Buyers must complete a HUD-approved homebuyer education class. The class currently required of buyers for the City of Boulder Permanently Affordable Homes program satisfies this condition.
- Purchasers must occupy the home as their primary residence, but they do not have to be a first-time homebuyer.
There is no limit on the property purchase price, although it should not exceed the lender’s loan approval amount. This program is intended for purchase of a primary home, and excludes refinance or purchase of a second property. Approved structures include single-family detached homes, condominiums, townhomes, duplexes and manufactured homes.
This program does not require repayment and funding is expected to continue through approximately December 2014.
A complete list of approved lenders and additional information for lenders who wish to become approved for the program is available at the City of Denver’s website,http://www.denvergov.org/oed/DenverOfficeofEconomicDevelopment/HousingAssistance/MetroMortgageAssistancePlus/tabid/444354/Default.aspx, or email Stacy Houston at stacy.houston@raymondjames.com.
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Pedal to Properties
Aug 22nd
Pedal to Properties, a full-service real estate firm, allows buyers the option of viewing properties and homes from cruiser bikes. A Boulder real estate firm established in 2006, Pedal to Properties began offering real estate franchise opportunities in 2009.
Whether looking for a home in Martin Acres, north Boulder, downtown, Keewaydin, upper Table Mesa, the Holiday neighborhood or Mapleton neighborhoods, our Pearl Street Boulder agents can help you get a true sense of the community. Or if you are parents looking for a condo or home near the University of Colorado, they can help you find the right place at the right price.
1949 Pearl St.
Boulder, CO 80302
Phone: (303) 444-4643
Fax: (303) 444-4647
Website: http://www.pedaltoproperties.com/
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