NO this is not a typo. We now offer the 1% down mortgage program in Colorado with Equity Boost to ensure a smooth first time home buying experience for you. This program works very simple. You put down 1%, and we contribute 2% towards the down payment, giving you 3% at closing. The rates are very competitive and low, and this program is available with NO MONTHLY MORTGAGE INSURANCE. Yes, no MORTGAGE INSURANCE. What a breath of fresh air.
Simple Example Using the 1% Down Mortgage Program
Let’s us the $417,000 Conventional Loan Limit in Denver County of $417,000 without getting into high cost which is $458,850.
- $417,000 PURCHASE PRICE
- 1% DOWN or $4170 from the home buyer
- We assist with 2% or $8340
- TOTAL DOWN PAYMENT is 3% or $12,510
- LOAN AMOUNT – $404,490
- PAYMENT with Mortgage Insurance $2126.07 assuming a rate of 3.875%* (Taxes and Insurance not Included)
- PAYMENT without Mortgage Insurance $2049.49 9 *(Taxes and Insurance not Included)
*Please Understand rates do change daily and this is a snapshot in time of 07.26.16 Prices
Being a local Colorado Mortgage Broker allows us opportunities to offer the most up to date mortgage loan programs offered from our various wholesale lender relationships. Allow our resourcefulness and experience the opportunity to work for you today. You can call us anytime at 720-524-3215 or visit us to complete our loan application.