Denver First Time Home Buyers 2010

That's right-$1000 can get you into the home you've always wanted. Using  CHFA's (Colorado Housing and Finance Authority) JumpStart2 program you can borrow the money you need to buy your first home with as little as $1000 of your own money to get started!

here's how it works

*If you are a first time homebuyer who purchases a home on or after January 1, 2009 or enters into a binding contract to purchase a home on or before April 30, 2010, and closes by June 30th, 2010, you may receive a federal tax credit of up to $8000.

*If you qualify, the CHFA JumpStart2 second mortgage loan can be used for down payment and/or closing costs. The CHFA JumpStart second loan mortgage is for the lesser of 3.5% of the first mortgage loan or $6000. There is an administration fee of $350.

*Once you receive the federal tax credit, use it to pay off the CHFA JumpStart2 second mortgage loan. If it is paid off before December 31, 2010, $250 of the administration fee will be applied to your payoff balance. If you do not pay off the loan before that date, you will not get the administration fee and the interest rate on the loan increases to 8 percent with a 10 year repayment term.

Also, check out the very popular "Home Opener" program at the link below. Another great first time home buyer program.

Check out the links below for additional information and terms.

JumpStart2 Program

Home Opener Program

New! FirstStep Program

All about CHFA and what it does can be found at the link provided below.