Rents are rising sharply, leaving many families with few viable options
Greenwood Village, Colorado (PRWEB) December 16, 2013
Colorado’s leading new home builder offering attainably priced homes is rolling out an FHA-backed grant program to enable families to purchase homes even when they don’t have savings to meet current borrowing requirements. Century Communities’ new grant program is designed to provide qualified buyers as much as 5% of a new home’s loan amount, without requiring a minimum borrower contribution.
“Rents are rising sharply, leaving many families with few viable options,” said Kathy Ellis, Century’s Vice President of Sales and Marketing. Century’s program is designed specifically for families struggling to buy, rather than rent. “The market has now shifted dramatically in favor of people who own their homes,” said Brian Kerby of Academy Mortgage. “We know that saving a down payment is difficult today, but the benefits are huge and this program will make a great difference for many families.”
Century’s grants, created in association with Academy Mortgage Corporation, offer significant advantages over current down-payment programs. They will be available statewide – no specific residency required – and can be used by borrowers making a second or third home purchase, not just those purchasing for the first time. Borrowers can own other property and qualify on their own income, not that of the household. In many cases, a grant may cover the entire down payment and closing cost for a new Century Communities home, meaning that a buyer may receive their earnest money back. And grants do not need to be paid back.
New Century Communities neighborhoods are arriving along the Front Range in Broomfield, Thornton, Castle Rock, Aurora, Commerce City, Firestone, Erie and Colorado Springs – joining 15 neighborhoods already open here. Century, a top-100 homebuilder, offers single-family homes, townhomes, condos and lofts ranging from the $100,000s to $600,000s. Sales offices are open Mondays 12 p.m. to 5 p.m., Tuesdays-through-Saturdays 10-5, and Sundays 11 - 5. For a complete listing visit http://www.centurycommunities.com or call 303-268-8371.
All advertised offers are only available when using Century’s preferred lender: Academy Mortgage Corporation, 300 Union Blvd # 650 Lakewood CO 80228, 303-914-3820, Brian Kerby - Branch Manager - LO NMLS #234744 - State Lic #CO Lic#100020437 - Corp NMLS #3113 Regulated by the Colorado Division of Real Estate. Grant-based down payment assistance is provided by Academy Mortgage and maximum amount may be limited by the loan program and advertised price. Academy Mortgage Company is an Equal Housing Lender. See sales representative for details.