Down Payment Assistance - Amortizing Loan Program

Down Payment Assistance - Amortizing Loan Program is a grant for homebuyers in Douglas County, Colorado. Douglas County Housing Partnership provides amortizing second mortgage loans to assist first-time homebuyers in Douglas County with their down payment. Monthly payments are required on the DPA loan. Income and purchase price limits apply. Amortizing second mortgage for down payment. lower monthly payment through assistance. serves Douglas County first-time buyers. Funding comes from Local Government.

Down Payment Assistance - Amortizing Loan Program is structured as a grant, so it is not repaid. Repayment is triggered by Monthly amortizing payments. 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.

Down Payment Assistance - Amortizing Loan Program 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. A homebuyer education course is required, through HUD-approved homebuyer education required. Residency requirement: County Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Must purchase in Douglas County; first-time homebuyer; income at or below 80-100% AMI.

Down Payment Assistance - Amortizing Loan Program limits household income to $124,950. 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.

Down Payment Assistance - Amortizing Loan Program caps the purchase price at $556,000. Eligible property types include Single Family, Condo, and Townhouse. New construction is eligible. Manufactured homes are not eligible.

Down Payment Assistance - Amortizing Loan Program serves homebuyers purchasing in Douglas County, Colorado. The program targets specific areas: Douglas County only.

Applications for Down Payment Assistance - Amortizing Loan Program 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.