Down payment assistance can help a buyer who is ready to buy but has limited funds saved for a down payment. However, this may not always be the case. It may also be needed when you are looking to hold on to your hard-earned savings and leverage your savings by not liquidating all of it for a down payment on a home.
These down payment programs range from grants to loans. First, understand that a grant is just that! A down payment loan does have to be paid back. However, if a down payment loan is what allows you to buy versus waiting, do it!
In entertaining buying a home with down payment assistance you want a consultation to learn the positives and negative aspects to weigh which option is right for you. Allow us to lend a hand educating you on what option is right for you. Please note these programs do you want you to have $1,000 invested into the buying process.
Please note that down payment assistance (DPA) grant programs are not separate funds, they are your loan program (FHA 30yr fixed, there is also a Conventional option please call to discuss). In order to qualify you, you’ll need to get pre-approved with a lender who is approved with these programs. If you know you will need or would like to have the option for a down payment assistance program you will need to ask your current lender if they are approved and can offer any DPA programs, if they are not then it would be advisable not to submit a loan application and have your credit pulled. Again, you will need to work with a DPA approved lender. It would also be highly advisable that they are not only approved with one DPA program but multiple because if you are unable to fit and/or qualify for a program you will have other options without needing to change lenders.
Mortgage Maestro Group works with Aurora HOAP, CHAC, and CHFA. Mortgage loans can only be made within the incorporated areas of: (It is the lenders responsibility to make sure the property is incorporated).
The City and County of Denver
Mortgage loans can only be made within the incorporated areas of Participating MMA cities:
City of ArvadaCity of AuroraCity of BoulderCity of BrightonCity of BroomfieldCity of CentennialCity of DaconoCity of EdgewaterCity of EnglewoodCity of GoldenCity of LakewoodCity of LittletonCity of ParkerCity of SheridanCity of ThorntonCity of WestminsterCity of Wheat RidgeTown of BennettTown of FirestoneTown of Castle Rock
Mortgage loans can be made within the unincorporated areas of these counties:
Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.
387 N Corona St #646, Denver, CO 80218.
NMLS Unique Identifier #1838215
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.
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