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If you work in the cannabis industry and are seeking a mortgage, rest assured that it is possible. Despite many misconceptions, cannabis employees can qualify for home financing. We have helped numerous cannabis industry workers purchase homes, even when they initially believed it was unattainable. As a mortgage broker we have access to an array of options , some of which may allow cannabis business owners to get a mortgage as well.
Truth: W2 employees in the cannabis industry may qualify for a mortgage.
Truth: You can qualify with as little as 3% down, and there are even options for down payment assistance.
If you’re a W2 employee working in the cannabis industry, you may be eligible to buy a home in Colorado. Recent changes in guidelines have made it easier to access mortgage programs tailored for cannabis employees. Here are a few options:
Working in the cannabis industry has traditionally made it difficult to secure a mortgage due to the federal illegality of marijuana. This impacts loans insured by federal entities (FHA/VA/USDA) and banks insured by the FDIC.
Opportunities exist for W2 employees, and some business owners from cannabis companies, especially in states like Colorado where cannabis is legalized. With our expertise, we can help you explore your mortgage options and achieve your dream of homeownership.
A mortgage broker handles the heavy lifting. We research lenders and loan options, making the process less confusing and tedious for you. For cannabis industry workers with a W2, the process is straightforward, provided they meet the necessary qualifications.
You must meet typical mortgage underwriting criteria, including:
Interest rates for cannabis mortgages depend on the same factors as any other mortgage:
We work to find the best loan terms for you based on these factors.
To qualify for a cannabis mortgage in Colorado:
The dream of owning a home is now within reach for many cannabis industry professionals, thanks to changing laws and public sentiment. Securing a mortgage while working in the cannabis industry is possible with the right guidance and knowledge. By understanding the available options and working with an experienced mortgage broker, cannabis industry employees can achieve homeownership.
Schedule a consultation to see if you are eligible!
Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.
Consumers wishing to file a complaint against a company or a residential Mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.
Home Mortgage Disclosure Act Notice. The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website.
