Eagle County Division of Housing Down Payment Assistance Program

What is Eagle County Division of Housing Down Payment Assistance Program?

Eagle County Division of Housing Down Payment Assistance Program is a deferred second loan for homebuyers in Statewide, Colorado.

• Eagle County's original (since 1998) entry-level down payment assistance loan, administered by the Eagle County Division of Housing for households at or below 80% AMI. Provides a deferred-payment 2nd mortgage that helps buyers overcome down payment and closing-cost barriers in one of Colorado's highest-cost housing markets. Designed to layer with ECLF, Good Deeds, and statewide CHFA / CHAC programs.
• Down payment / closing cost assistance for entry-level Eagle County homebuyers at or below 80% AMI. Structured as a deferred-payment 2nd mortgage with no monthly payments, repaid upon sale, refinance, transfer, or loss of owner-occupancy. Funds may be used for down payment, closing costs, and prepaid items.
• Funding comes from Local Government.

How much assistance does it provide?

Eagle County Division of Housing Down Payment Assistance Program offers up to $40,000 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?

Eagle County Division of Housing Down Payment 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, transfer, refinance, or loss of owner-occupancy.
• 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?

Eagle County Division of Housing Down Payment 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?

Eagle County Division of Housing Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% AMI for Eagle County, scaled by household size. Per LendSquawk seed data the program income range spans approximately $72,900 (1-person) to $137,400 (8-person) at 80% AMI for FY2026.
• 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?

Eagle County Division of Housing Down Payment Assistance Program caps the purchase price as follows: No published maximum purchase price; effective ceiling set by 80% AMI qualifying ratios.

• Eligible property types include Single-family detached, Townhome, and Condominium.
• New construction is eligible.

Where does it apply?

Eagle County Division of Housing Down Payment Assistance Program serves buyers purchasing in Statewide, Colorado.

How do you apply?

Applications for Eagle County Division of Housing Down Payment 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 The Valley Home Store; Eagle County Housing & Development Authority.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Application via Eagle County Division of Housing / The Valley Home Store, 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.