"HELP FOR HOME BUYERS"
2013 EL PASO COUNTY HOUSING AUTHORITY TURNKEY
MORTGAGE ORIGINATION PROGRAM
Assisted Rate Loan with 4% Assistance Grant for downpayment and closing costs.
Borrower recieves a 30 year fixed rate mortgate as well as an assistance payment equal to 4% of the orginal price. NO REPAYMENT REQUIRED!
PROGRAM REQUIREMENTS INCLUDE:
ELIGIBLE BORROWERS: FUNDS ARE FIRST COME, FIRST SERVED.
1. No first-time homebuyer requirement.
2. Available on FHA, VA, USDA loans
3. Buyer must have a minimum FICO score of 640. Check your Credit Score Here..
4. Income Limits are 1-2 person household = $88,900
3 or more person household = $103,7005.
5. Cosigners are permited.
6. Refinances are NOT permitted.
7. Temorary, bridge or construction loans with terms or 2 years may be eligible.
8. Owner must occupy the property within 60 days of closing.
ELIGIBLE AREA:
1. All of El Paso County, Colorado, including the City of Colorado Springs.
PURCHASE PRICE LIMITS:
1. New or Existing Residence = $283,000.
2. No Minimum Loan Amount.
PROPERTY REQUIREMENTS:
1. New or existing, one-four unites, detached or attached, condos, town homes, manufactured homes that meet servicer/insurer/guarantor requirements.
2. Mobile, recreational, seasonal or other types of vacation or non-permanent homes are NOT PERMITTED.
3. Land may not exceed the size required to mantain basic livability.
4. Properties purchased in the program MUST be residential units.
Additional Information Located at WWW.EHOUSINGPLUS.COM