Posts tagged education
Community Heroes Program - Colorado Only

PROGRAM ONLY AVAILABLE IN COLORADO. Cherry Creek Mortgage Co., Inc. NMLS #3001. *Loan-to-Value, or LTV, is the amount of money borrowed as a percentage of the home’s value. For example, a homeowner with a $80,000 loan balance for a home worth $100,000 has an LTV of 80 percent.

This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

Heroes in our communities spend their careers dedicated to serving others, and we believe they should have a great place to call home. Our Community Heroes Program offers low down payment options for individuals who make a difference every day.

Eligible borrowers:

Public or private educational institution employees

Fire department employees

Police department employees

Nurses (all designations, including certified nursing assistants)

Emergency Medical Technicians and Paramedics

Active or former Military personnel

This program is offered in partnership with Bellco Credit Union and Arch Mortgage Insurance Company. Loan servicing is provided by Bellco Credit Union, so home buyers must join Bellco prior to final loan approval.

HELPING COMMUNITY HEROES BECOME HOME OWNERS

Call me today to learn about this great opportunity for our community heroes!

Benefits of the program include:

97.01% – 99% loan-to-value financing options allow home buyers to buy a home with less money out of pocket*

Home buyers can use gifts and grants to help fund their down payment and closing costs

Lower mortgage insurance requirements compared to other similar mortgage products

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Good Neighbor Next Door Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution. Cherry Creek Mortgage Company is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, or the Federal Government.

Are you a LAW ENFORCEMENT OFFICER, TEACHER, FIREFIGHTER, or EMERGENCY MEDICAL TECHNICIAN?

Reach out to me today to learn more about this program and eligible neighborhoods close to you.

That’s why HUD offers the Good Neighbor Next Door program which helps community servants like you to more easily become homeowners in Revitalization Areas in your area.

This program enables you to purchase a home at a discount of 50% off its list price as long as you commit to live in the property for 36 months as your sole residence.

If so, you’re the kind of neighbor that makes a neighborhood great.

Eligible single family homes located in revitalization areas are listed exclusively for sale through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for seven days.

You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD’s regulations for the program.

HUD requires that you sign a second mortgage and note for the amount that was discounted off the purchase price. No interest or payments are required on this “silent second” as long as you fulfill the three-year occupancy requirement.

You must meet all additional mortgage program guideline requirements.

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Student Loan Debt Flyer

Cherry Creek Mortgage Co., Inc., NMLS #3001. Debt consolidation does not pay off the debt, please consult a financial advisor regarding the effect of consolidating short term debt into long-term debt.

This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are

subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are

subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

Call me. Let’s talk about whether you

could benefit by refinancing now!

The broad burden of student loan debt.

Student loan debt impacts 44 million people in the United States and 41% report that they are delaying homeownership

because they find it difficult to qualify for a mortgage due to the impact of these loans on their debt-to-income ratios.

Help is on the way for homebuyers with student loan debt.

We are excited to announce that Fannie Mae is making it easier for home buyers with student loan debt to purchase or

refinance a home by implementing the following guideline changes:

• Changes to how debt-to-income ratios are calculated for borrowers with student loans

• Expanded guidelines that allow borrowers to pay off student loans without the typical rate increase that’s

required for cash out transactions

• Exclusion of student loan payments from debt-to-income ratio calculations when a borrower can verify those

payments are made by a family member with 12 month’s canceled checks

Now is a great time to connect with your clients who have been impacted by student loan debt to let them know

Fannie Mae is making changes to help them! Reach out to me today to learn more about how your buyers can benefit

from these new guidelines.

Help is on the way...

FOR BORROWERS WITH STUDENT LOAN DEBT

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CA - CalHFA Teacher Program

Extra

Credit

for

Teachers.

CalHFA would like to say “THANK YOU”

with the Extra Credit Teacher Program (ECTP).

CONTACT ME TO FIND OUT MORE

Cherry Creek Mortgage Co., Inc. NMLS #3001. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130289. Loan product only available in

California/CA. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All

applications are subject to underwriting approval and determining the applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs,

terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

PROGRAM FEATURES:

• First-time home buyer

• Rewards teachers & staff who serve

in California’s schools

• Down payment assistance

• Deferred payments

• Interest forgiveness after three years

• Up to 103% combined loan-to-value

ECTP CAN BE COMBINED:

• With CalPLUSSM — first mortgage loans with

exclusive, zero interest down payment assistance

• With Mortgage Credit Certificate Program (MCC)

— federal income tax credit that may lower your

taxes and increase your disposable income

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