719-666-3893 info@elevationmtg.com

Down Payment Assistance

Our grant programs help alleviate the burden of down payment costs as well as closing costs associated with buying a home.

Down Payment Assistance

At Elevation Mortgage, we want to ensure everyone that wants to buy a home has the ability to do so. That is why we offer down payment assistance programs for families that don’t have the money for the down payment. Whether you use this for closing costs or as a down payment, the choice is yours. Here are a few benefits and program highlights:

  • Income restricted to 80% AMI (Average Medium Income). Click here to find out your areas
  • Only requires $1,000 from the borrower
  • Minimum credit score is 620
  • Must be a primary residence
  • Not limited to first-time home buyers
  • Debt ratio cant exceed 45%
  • No minimum or maximum reserves required
  • Can be used with a Conventional or FHA loan, No VA