The Colorado Housing and Finance Authority says the federal stimulus plan is allowing it to launch a new mortgage program to help put mid and low income families into homes.
Today, CHFA announced its Jump Start Mortgage program which allows Colorado residents who qualify for the new $8,000 first time homebuyer federal tax credit to use it as leverage for down payment or closing costs on a house.
Officials say this new loan, which gives residents up to $6,000, has a zero percent interest rate as long as they pay it back before July of 2010.
CHFA says the new program is not for everybody, and that it will work with first time homebuyers to decide if another program might be better.
The Jump Start program does have income and house price limits.
CHFA says the new program will be available from now through November 30.
KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.