Loan Progams

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Lenders look at three things when you apply for a mortgage:

  • Your debt-to-income ratio
  • Your down payment
  • Your credit score (FICO)

Getting pre-qualified by your lender is an important first step in looking for a home.  Any seller will look more favorably at your offer knowing that you financially are able to purchase.   Being pre-approved also has value, but is not as solid in your offer as being pre-qualified for the amount of mortgage that you will require.

There are many financial programs, including down payment assistance, for first-time home buyers.  Any of my recommended loan officers can find the right loan product for you. 
 

Larimer Home Ownership Program

The Larimer Home Ownership Program is administered by the Housing Authority of the City of Loveland and offers down payment and closing cost assistance to low and moderate income families purchasing their first home. www.lovelandhsg.org
 

City of Fort Collins Home Buyers Assistance (HBA)

The City of Fort Collins Home Buyers Assistance is for households financially ready to buy a home but lacking the required cash to cover the down payment and closing costs.

The City of Fort Collins will provide a loan to eligible households to cover the down payment and closing costs up to a maximum of 6% of the sales price (5% for down payment and 1% for closing costs) if there are no Seller concessions. The assistance is in the form of a loan , which is paid back when the house is either sold, transferred out of the buyer's name or rented, or if the buyer seeks a second lien (such as a home equity loan) on the property. Added to the payment, which also is due at sale, rental or transfer, is 5% interest on the principal. fcgov.com
 

Colorado Housing and Finance Authority (CHFA)

The Colorado Housing and Finance Authority (CHFA) can help you every step of the way, from understanding the basics of affordable housing to finding a CHFA program or product that works for you.

  • CHFA offers down payment and closing cost assistance
  • CHFA is the leader in affordable housing
  • CHFA owns and rents affordable rental units
  • CHFA offers programs to both first-time and non first-time homebuyers.