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 are 120% of the Area Median Income (AMI): |
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| 1 person |
$63,750 |
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4 persons |
$91,100 |
| 2 persons |
$72,900 |
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5 persons |
$98,300 |
| 3 persons |
$81,900 |
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6 persons |
$105,750 |
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What
homes are eligible?
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Delinquent and foreclosed Who is eligible?
A home is considered delinquent if any of the following conditions apply:
- The property's current delinquency status is at least 60 days delinquent under the Mortgage Bankers
of America delinquency calculation and the owner has been notified of this delinquency, or
- The property owner is 90 days or more delinquent on tax payments, or
- Under state, local, or tribal law, foreclosure proceedings have been initiated or completed, or
- Foreclosure proceedings have been completed and title has been transferred to an intermediary aggregator or servicer that is not an NSP grantee, contractor, subrecipient, developer, or end user
properties in the designated census tract block groups.
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Click here for a list of approved areas
Parker - (see map)
Castle Rock - (see map)
Lone Tree - (see map)
All of Roxborough and Pike National Forest Area |
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Maximum purchase price of $300,000 |
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The appraised value of the home must be at least 1% greater than the purchase price |
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Home inspections will be required and reviewed by DCHP |
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 Travis Anderson, Program 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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