City of Greeley Homebuyer Assistance Program

What is City of Greeley Homebuyer Assistance Program?

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

• City of Greeley provides deferred-payment DPA to first-time homebuyers purchasing within Greeley city limits. Covers down payment and closing costs.
• DPA for City of Greeley first-time buyers.
• deferred repayment.
• covers down payment and closing costs.
• Funding comes from Local Government.

How much assistance does it provide?

City of Greeley Homebuyer Assistance Program offers up to $8,000 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

City of Greeley 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 Greeley 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 Greeley 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; Greeley/Weld County.
• 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 Greeley 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 Greeley Homebuyer Assistance Program serves buyers purchasing in Greeley, Colorado.

• The program targets specific areas: City of Greeley, Weld County.

How do you apply?

Applications for City of Greeley 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 HUD-approved homebuyer education required.

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.