Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program)

What is Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program)?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) is a shared-appreciation loan for homebuyers in Douglas County, Colorado.

• The Douglas County Housing Partnership Shared Equity Down Payment Assistance Program provides up to $50,000 (or ~20% of purchase price) as a 0%-payment shared-appreciation second mortgage to first-time homebuyers purchasing in Douglas County. The buyer makes no monthly payments. When the home is sold, refinanced with cash-out, or transferred, DCHP recoups its original principal plus a proportional share of the home's appreciation. This product is designed for buyers who cannot support amortizing payments but accept sharing future appreciation in exchange for higher upfront assistance.
• Shared-appreciation second mortgage of up to $50,000 (or up to ~20% of purchase price, whichever is less) for down payment and closing-cost assistance. The buyer makes no monthly payments on the DCHP second.
• on sale, refinance with cash-out, or transfer DCHP recovers its principal plus a proportional share of the appreciation equal to the program's share of the original purchase price.
• Funding comes from Local Government, Douglas County, HUD HOME, and CDBG.

How much assistance does it provide?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) provides assistance worth 20% of the purchase price, as set by the program.

• Buyer contribution: Buyer must contribute at least 1% of purchase price from own funds.
• 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?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) is a shared-appreciation loan and is repaid under the terms set by the administering agency.

• Repayment is triggered by Sale, refinance with cash-out, or transfer of title and on these triggers DCHP receives principal plus its proportional share of appreciation.
• The assistance is recorded in 2 position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) limits household income to 120% of the area median income, which varies by county and household size.

• Household qualifying income approximately $66,300 (1-person, ~80% AMI) to $124,950 (8-person, ~120% AMI) for Douglas County per HUD income limits.
• 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?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) caps the purchase price at $556,000.

• Eligible property types include Single-family detached, Townhome, and Condominium.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Douglas County Housing Partnership Down Payment Assistance (Shared Equity Program) serves buyers purchasing in Douglas County, Colorado.

How do you apply?

Applications for Douglas County Housing Partnership Down Payment Assistance (Shared Equity 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 counseling agency (e.g., CHAC, mpowered, Brothers Redevelopment) — required for all borrowers.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Direct application to DCHP after pre-approval and counseling, 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.