City of Fort Collins Homebuyer Assistance Program

What is City of Fort Collins Homebuyer Assistance Program?

City of Fort Collins Homebuyer Assistance Program is a deferred second loan for homebuyers in Fort Collins, Colorado.

• City of Fort Collins provides deferred DPA up to $25,000 for first-time buyers purchasing within Fort Collins. 0% interest; no monthly DPA payments. Administered in partnership with Neighbor to Neighbor.
• Deferred DPA up to $25,000.
• first-time buyers in Fort Collins.
• 0% interest.
• no monthly DPA payments.
• covers down payment and closing costs.
• Funding comes from Local Government.

Do you have to pay it back?

City of Fort Collins Homebuyer Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Sale, Refinance, and Maturity Date.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Fort Collins Homebuyer Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Fort Collins Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Income at or below 80% AMI based on Larimer County AMI; household size adjusted.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Fort Collins Homebuyer Assistance Program can be used for Single Family, Condo, and Townhouse.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

City of Fort Collins Homebuyer Assistance Program serves buyers purchasing in Fort Collins, Colorado.

• The program targets specific areas: City of Fort Collins, Larimer County.

How do you apply?

Applications for City of Fort Collins Homebuyer Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Neighbor to Neighbor homebuyer education required; HUD-approved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.