CalPATH Program Expanded to PATH Program

Mountain West Financial has expanded our CalPATH Loan Program for teachers and public employees in the state of Colorado. The new program in Colorado will be referred to as the PATH Home Loan Program. This program benefits those that serve our local communities by offering competitive rates paired with a free Float Down of the interest rate (taken within 30 days or by approval date and prior to docs being drawn). PATH may also be combined with down payment assistance programs.

Benefits:

• Reduced processing fees
• FHA or Conventional loan options available
• Can be used with other down payment assistance programs
• Available for High Balance loans
• 15 or 30 Year terms available
• No Additional Qualifying - Follows MWF’s FHA & Conventional standard guidelines
• One free float down - During the first 30 Days after the rate is locked (or by the approval date, whichever is sooner), if Rates become lower you can “Float Down” to the new lower rate

 

Who is Eligible:

• Employees of a public agency
• Colorado Public School District
• Colorado State University
• Colorado Community College
• Colorado Judicial System
• Colorado Public Heath Departments
• Colorado Local Government Entities
• Members of the Colorado Public Employee’s Retirement Association (PERA). PERA currently has over 500 affiliated employers

 

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.