This week we're going to dive into Denver County's MCC Program.
There are still many down payment assistance options for Denver Colorado first time home buyers.
Denver County's Mortgage Credit Certificate (MCC) Program is unique from other programs in the way that it is a federal income tax credit rather than a grant or loan.
The Denver MCC program was launched in April of 2009 and will expire in December of 2011 or as allocation remains available. This program allows qualifying borrowers to receive an annual federal income tax credit = 20% of the annual interest they pay on their mortgage loan.
Facts Denver County MCC Program:
* Location: Must buy a property in city and county of Denver
* Where to go for more info: www.milehigh.com/housing
* Borrower must be a first time home buyer
o first time home buyer is someone that has not owned a home in 3 or more years
1. Meet with Denver Count MCC approved lender and apply for a mortgage.
a. To apply online: www.limetreelending.com
2. Your approved lender will facilitate all paperwork
3. SHOP FOR HOUSES
Income qualifications guidelines apply and are subject to change without notice
Maximum Annual Income
FAMILY of 2 of Fewer $88,600
FAMILY of 3 or more $101,900
MAXIMUM HOME COST = $354,900
Visit website for income and maximum home cost in targeted areas
Like all loan programs, Denver County's MCC program can be confusing to most all Colorado buyers. If you have questions or would like more information in determining eligibility, don't hesitate to contact us. You can email me at Jocelyn@limetreelending.com or call our team at 303-325-3578
to apply for this program go to www.limetreelending.com click apply online
SOURCED: INFORMATION PROVIDED BY LIME TREE LENDING