Colorado Home Loans
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Igor DrakeDirect 720-220-1279 Igor@ColoradoTrustLoans.com Free no obligation rate quote 6300 S. Syracuse Way,suite 650 Greenwood Village CO 80111
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Fixed FHA LoansRequirements and General Benefits. Minimum 540 Credit score to Apply for an FHA home loan2 Year employment history/school transcriptsNo Credit is ok with NO other derogatory creditMedical collections can be ignoredDown Payment Assistance allowedGift from family or friends is okSeller can pay up to 6% for your closing costs$100 dollar incentive program though HUDFHA has great interest ratesIncentives for borrowers with credit scores above 680
Down Payment Assistance$100 Down HUD Program - This down payment assistance program is being offered by FHA on foreclosed government owned properties. Many properties will qualify. You can check these homes out by going to www.hud.gov. Program has no income restrictions and can be used in combination with down payment assistance grants. On these properties HUD will waive the 3% down requirement. $1000 CHAC Program - Available on All Properties. This grant program does have income restrictions. Please read below. Seller can contribute up to 6% towards closing costs. Up To $10,000 Assistance. .Down payment assistance with income limits. Buyer meets HUD maximum income restrictions by household size: (This is defined as the number of people residing in the home including, but not limited to, all minor children, spouses, fiancés, roommates, relatives. 1....................$40,150 2....................$45,900. 3....................$51,600 4....................$57,3505....................$61,950 6....................$66,5507....................$71,150 8....................$75,700
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30 Year Fixed : 6.11%
Traditional 30 year mortgage - National Average
15 Year Fixed : 5.76%
Traditional 15 year mortgage - National Average
5/1 ARM : 6.02%
5 Year Fixed / Adjustable Rate Mortgage - National Average
3/1 ARM : 5.16%
3 Year Fixed / Adjustable Rate Mortgage - National Average