County of San Luis Valley FTHB

County of San Luis Valley FTHB is a deferred second loan for homebuyers in Alamosa|Conejos|Costilla|Rio Grande|Mineral|Saguache County, Colorado. San Luis Valley Housing Coalition's First-Time Homebuyer program provides deferred-payment DPA to first-time buyers in the rural San Luis Valley region of Colorado. Covers Alamosa, Conejos, Costilla, Rio Grande, Mineral, and Saguache counties. First-time homebuyer DPA for San Luis Valley counties. assists rural Colorado buyers. deferred repayment. no monthly DPA payments. Funding comes from Nonprofit, Federal, and State.

County of San Luis Valley FTHB 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.

County of San Luis Valley FTHB is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 640. A homebuyer education course is required, through HUD-approved homebuyer education required; SLVHC counseling. Residency requirement: County Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Purchase in San Luis Valley counties; first-time homebuyer; income limits apply.

County of San Luis Valley FTHB limits household income to $203,580. 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.

County of San Luis Valley FTHB can be used for Single Family, Condo, Townhouse, and Manufactured Home. New construction is eligible. Manufactured homes are eligible.

County of San Luis Valley FTHB serves homebuyers purchasing in Alamosa|Conejos|Costilla|Rio Grande|Mineral|Saguache County, Colorado. The program targets specific areas: San Luis Valley: Alamosa, Conejos, Costilla, Rio Grande, Mineral, Saguache counties.

Applications for County of San Luis Valley FTHB go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.