DENVER, July 9, 2019 /PRNewswire/ -- metroDPA, a down payment assistance program sponsored by the City and County of Denver, now offers up to 6% assistance to homebuyers in the region.
George K. Baum & Company ("GKB") is engaged to bolster metroDPA, a housing assistance program in Colorado. The program expands housing affordability in cities ranging from Greeley to Castle Rock by aiding borrowers purchasing a home.
Since metroDPA's program launch in February of 2019, the City and County of Denver, along with GKB, have worked to continually improve the program and increase homeownership in Colorado communities. The program offers various levels of assistance—now up to 6%—that help borrowers with closing costs and the required down payment to purchase a home. The assistance is 0% interest and forgiven monthly over three years. After three years, absolutely no repayment is required. metroDPA offers multiple options and competitive rates.
With no risk or cost for municipalities to participate, metroDPA's program area is quickly expanding along Front Range communities. Since there is no first-time homebuyer requirement, no purchase price restrictions and a generous income limit, the program serves a wide range of borrowers.
In today's high-price market, having a program like metroDPA offering 6% assistance can make all the difference to future homeowners. Additional assistance is also available through an Affordable Income Subsidy ("AIS") offered to qualified, low-income borrowers.
If you are interested in this program, please visit www.metroDPA.org for more information.
SOURCE George K. Baum & Company