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Metro Mortgage Assistance (MMA)

Metro Mortgage Assistance (MMA)

Summit is proud to offer  the New Metro Mortgage Assistance Program.  Only 8 lenders in the Metro Denver are authorized and we are proud to be one of them.  This is another great effort for help in rebuilding our community, programs such as this are promoting neighborhood stabilization and creating home ownership throughout Metro Denver.

Everyone needs a little help sometimes, and help is here with this new loan program.

What is Metro Mortgage Assistance (MMA)?

It is a loan that includes a grant for 4% of the note for down payment assistance.  Again, this is a grant, NOT a second loan/note.  It is being offered to City and County of Denver and in participating MMC jurisdictions (contact us for more details).

What makes this down payment assistance program different?

  • NO First-time home buyer requirement
  • DPA is a grant, not a loan
  • DPA is 4% (other DPA programs 3%)
  • Loan Application Income qualifies-NOT Total Household Income

Who is Eligible?

  • FICO mid score must be 640 or higher
  • Max DTI ratio 45%
  • Must have an Government loan (FHA, VA, USDA)
  • Must be purchasing a primary residence
  • Must occupy property within 60 days of closing

*There are income limitations so please be sure to check out our Page with detailed information and contact us for further questions.

This program is a first come, first serve basis, so give us a call, contact us today to reserve your funds!  Click here to complete a secure online loan application!  Make sure to also find out about the Mortgage Credit Certificate (MCC), another great program(not a loan, a tax credit available to first-time home buyers!).

Also, make sure to register for my blog, and “like” us on Facebook, follow us on Twitter, and join our circle in Google +

Cheers~

Ray Williams

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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

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.

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