Good news for qualified veterans and first-time home buyers in Denver!
The Colorado Housing and Finance Authority (CHFA) is bringing back a popular program that pays home-owners back on their taxes in the form of a credit. That means qualified first-time home buyers can receive up to 20% of the mortgage interest they pay to reduce their federal tax bill. Buy a house, pay less taxes for as long as you own and live in the home!
The program, called the Mortgage Credit Certificate, is limited and requires buyers to apply. Talk with your agent about how you can use this loan program to find your dream home. Lender Josh Groner, with Universal Lending, can help out by explaining the program to interested buyers.
Josh explained that the program is valid for 30 years, or as long as you own the home and use it as your primary residence. First-time home-buyers are defined by buyers who haven't owned for at least three years. If you are interested in this loan product, CHFA will begin accepting new reservations for the MCC on March 6, 2017. Demand for this program outweighs the supply, and it is anticipated to be exhausted prior to the end of 2017. So tick tock, act fast to get in on this great program.
Reach Josh for this and other loan questions here. And find out more details at this CHFA link.
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