Currently on hold due to lack of funding
What
is It?
Opportunity for homeownership in Douglas County through use of “Shared Equity” with the Housing Partnership. DCHP will provide an investment of up to 20% of the purchase price to first time homebuyers that currently live or work in Douglas County.
This investment will be a deferred loan which must be repaid upon sale or refinance of the home. At that time, the borrower must return the same investment percentage to DCHP based on the current fair market value.
Who is eligible?
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First-Time Homebuyers including persons that have not owned a home in the previous 3 years, single parents that have owned prior with a spouse, and displaced homemakers. |
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Borrowers who currently live or work within the limits of Douglas County. |
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Income Limits
| 1 person - $44,450 |
4 person - $63,450 |
| 2 person - $50,800 |
5 person - $68,550 |
| 3 person - $57,150 |
6 person - $73,650 |
Borrower Responsibilities
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Attend a free CHFA-approved First-Time Homebuyer Education Class |
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Secure a 30 year fixed rate mortgage with a maximum 45% debt to income ratio |
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Contribute $1,000 towards the purchase |
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Occupy the home as a primary residence |
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Meet with DCHP for approval, pay $100 application fee |
For more information on the Shared Equity Program please contact Artie Lehl, Loan Programs Manager at 303-784-7857.
Assistance is based on the availability of funding, please contact DCHP for the latest information regarding the Shared Equity Program.
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