|
|
   |
| |
Down Payment
Assistance |
Shared Equity
Program |
| |
A |
B |
|
|
Assistance
Provided |
$20,000 |
$14,999 |
Up to 20% of the purchase price of the home (Maximum purchase price is $300,000) |
|
| Repayment
Terms |
No
interest, no payments for the first 5 years, then amortized
over 25 years at 3%. ($94.84 monthly payment beginning
in year 6) |
No
interest, no payments for the first 5 years, then amortized
over 25 years at 3%. ($71.13 monthly payment beginning
in year 6) |
No interest rate, no monthly payments. The same percentage of investment provided at the time of purchase must be repaid when the home is sold or refinanced. (Example: DCHP loans a borrower 20% of the purchase price. The borrower pays back 20% of the value of the home when they sell or refinance) |
|
| Maximum
Annual Income Per Family Size |
|
|
|
| 1 |
$34,500 |
$42,550 |
$63,850 |
| 2 |
$39,500 |
$48,650 |
$73,000 |
| 3 |
$44,500 |
$54,700 |
$82,000 |
| 4 |
$49,400 |
$60,800 |
$91,200 |
| 5 |
$53,350 |
$65,650 |
$98,400 |
| 6 |
$57,300 |
$70,550 |
$105,850 |
|
| Borrower
Contribution |
$1,000 |
$1,000 |
$1,000 |
|
| Requirements |
All programs are for first-time homebuyers and require that the borrower be currently living or working within the limits of Douglas County. All borrowers must attend a CHFA approved First Time Homebuyer Education Class. |
*Must be a foreclosed property and located in the designated census tract block groups (see map). *The appraised value of the property must be at least 1% greater than the purchase price. |
|
*Limited
amount available, dependent upon funding sources. |
|
|
| |
|
Douglas
County Housing Partnership
9350 Heritage Hills Circle
Lone Tree, Colorado 80124
303-784-7857 Homeownership
303-814-2965 Administration
303-784-7856 Foreclosure Program |
|
|
