Homebuyer Assistance Still Available

Several people have asked me lately whether or not they can qualify for the $8000 first time homebuyer tax credit. Many buyers are wondering how much money they need to purchase a home. Where are those buyer assistance programs that were available?

First, the tax credit is summarized best on this site. First, make sure you qualify to get a home mortgage. Then, if you have not been paying a mortgage (or married to someone who has) for the past 3 years you may qualify. There are also time and income limits to this program.

Next, there are local bond programs with home buyer assistance. Not all programs are for first time home buyers. Most however have income limits and other restricitons, like where you live or work or that you own no investment properties or that this only be applied to your primary residence. In the Denver Metro area here are some programs to check out:
CHAC for people purchasing their primary residence all over Colorado
CHFA for people purchasing their primary residence all over Colorado
Douglas County Housing Partnership for people living or working in Douglas County when purchasing their primary residence
NEWSED for people living in Denver County when purchasing their primary residence
FUNDING PARTNERS with a variety of banks and programs throughout Colorado
HOAP for Aurora's first time home buyers and seniors choosing a reverse mortgage

Since these programs have very specific restricitons and requirements, I usually bring in experts on buyer assistance programs, Cindy Howeth and Scott Wynn of First Priority Lending.
When you think you might qualify for these programs, and have questions, they're great trusted advisors.

If you wonder how the Homebuyer Assistance fits into the process of buying a home, call me. For over a decade I've helped people purchase homes through buyer assistance programs.