No-money down mortgages make a comeback in Colorado

The Credit Union of Colorado is now offering a 100% mortgage package.

Here’s how it works:

The 100% Mortgage Package includes a 97% fixed rate 30-year first mortgage loan and an interest free second mortgage for up to 3% of the total loan to use as your down payment. These two loans work together to equal 100% financing for your first home. Make no payments on the second mortgage until you pay off your mortgage, refinance or sell your home.

Here are some of the benefits:

  • 100% financing for your first home purchase.
  • Your second mortgage can cover up to 3% of the total purchase of the home up to $14,100.
  • Closing costs for the second mortgage are paid by the Credit Union.
  • We will never sell your loan to another mortgage servicer and it is serviced by us.

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To qualify, a borrower must have a credit score at 700 or higher and total debt payments that don’t exceed 43 percent of income. Any property must be in Colorado and owner-occupied. Owners must take an online education course and pass a quiz.

Read the pros and cons of a 100% mortgage loan in the full article by The Denver Post here.

Summer Festivals

We are rolling into the second week of July, but there is still plenty of summer to be had!  Colorado summers are the perfect time to get out and enjoy everything this great state has to offer.  Here are some of the must check out festivals happening near you…

Cherry Creek Arts Festival– free festival with over 200 exhibits, live music, food, kid activities and more.  July 6th- 8th at Denver’s Cherry Creek North Shopping District.

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Crested Butte Wildflower Festival– this 10 day festival includes photography classes, art workshops, garden tours and guided hikes to get you up close and personal with the gorgeous wildflower display.  July 6th- 15th.

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Slow Food Nations– this three-day festival blends delicious food and beverage tastings with serious policy discussions. Hear from experts, farmers and chefs about topics such as food waste, regenerative agriculture, sustainability and more. There’s also an entire open-air marketplace where you can eat and drink to your heart’s content. Admission is free, though some events require tickets. July 13th- 15th in Larimer Square.

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Westy Craft Brew Fest– enjoy trying new beers from more than 60 local breweries, including cider and mead as well.  Live music and food trucks available to purchase from.  July 28th, 6-9 pm.

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Rocky Mountain Air & Ground Festival– After a three-year hiatus, the skies over RMMA will again feature aerobatic acts and fly-bys, while the grounds of the airport will be filled with unique and interesting aircraft and automobiles for the public’s viewing pleasure. August 4th, gates open 9 am- 4 pm.

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Lafayette Peach Festival– Palisade, Colorado peaches will be available for purchase. In addition to the world famous Palisade peaches, there will be an array of peach dishes for sale prepared by The Huckleberry (Louisville), including 4,500 servings of warm peach cobbler and 500 peach pies with crumb topping and 80 individual pans of peach cobbler available for purchase while supplies last.  Lafayette Chamber members and local volunteers will be selling these items in addition to the delicious peach smoothies throughout the day.  Enjoy fresh baked bread, BBQ, Philly Cheese Steaks, Peach Pizza, Brats, Burgers, Gyros, Turkey Legs and much more from the many food vendors. August 18th, 9 am- 4 pm.

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A Taste of Colorado– This end-of-summer festival has it all: delicious food from more than 50 vendors, carnival rides, musical performances and an arts and crafts marketplace. You’ll truly get a sampling of everything Colorado has to offer.  Free admission.  September 1st- 3 rd.

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National Night Out- WHAT IS NATIONAL NIGHT OUT?
National Night Out is an annual community-building campaign that promotes police-community partnerships and neighborhood camaraderie to make our neighborhoods safer, more caring places to live. National Night Out enhances the relationship between neighbors and law enforcement while bringing back a true sense of community. Furthermore, it provides a great opportunity to bring police and neighbors together under positive circumstances.

Millions of neighbors take part in National Night Out across thousands of communities from all fifty states, U.S. territories and military bases worldwide on the first Tuesday in August.  Neighborhoods host block parties, festivals, parades, cookouts and various other community events with safety demonstrations, seminars, youth events, visits from emergency personnel, exhibits and much, much more.

Find more on Broomfield National Night Out, being held Tues, Aug. 7th 5 – 8:30 pm.

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