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Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program

Estes Park, Colorado

Last verified
See what you qualify forOfficial program site →
Assistance

$15,000

The maximum the program publishes — not an offer

Income limit

150% AMI

Of area median income; varies by county and household size

Repayment

Repayable

Repaid on the terms set by the administering agency

What is Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program is a repayable second loan for homebuyers in Estes Park, Colorado.

  • The Estes Valley Workforce Housing Assistance (EVWHA) program, from the Estes Park Housing Authority and the Estes Park Board of REALTORS, helps local workforce households earning 81-150% of Area Median Income buy homes in the Estes Valley. It provides a down-payment loan of up to 3.5% of the purchase price (maximum $15,000) as a 2% interest amortizing second mortgage with a 10-year term. Buyers must invest at least $3,000 of their own funds, be first-time buyers, complete a homeownership class, and have an eligible property under contract within 90 days of applying.
  • Down-payment loan up to 3.5% of purchase price, capped at $15,000; 2% interest, 10-year amortizing term; minimum $3,000 buyer contribution; first-time buyers earning 81-150% AMI who work in the Estes Valley.
  • Funding comes from Local Government, Town of Estes Park, and Larimer County.

How much assistance does it provide?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program offers up to $15,000 in assistance.

  • 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?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program is a repayable second loan and is repaid under the terms set by the administering agency.

  • Repayment is triggered by Sale, refinance with cash-out, transfer of title, or loss of owner-occupancy of the property.
  • 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?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Open to first-time and repeat buyers; no prior-homeownership restriction
  • The home is occupied as a primary residence
  • On credit: Mortgage-eligible based on first-mortgage underwriting (no published EPHA minimum)
  • A completed homebuyer education course, through Required pre-purchase counseling through Larimer Home Ownership Program (LHOP) or another HUD-approved provider
  • Residency: Buyer must work 30+ hrs/week in the Estes Valley (or be retired/disabled Estes Valley resident); home must be a primary residence in the Estes Valley.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen permitted by first-mortgage product
  • Buyer (or one earner in the household) must work an average of 30+ hours/week in the Estes Valley (Estes Park, unincorporated Larimer County within the Estes Valley Planning Area) for an Estes Valley business or governmental unit, OR be a permanently disabled or retired Estes Valley resident. Household income must fall between approximately 80% AMI ($63,680 for one person) and 150% AMI ($225,000 cap, scaled by household size — Larimer County HUD limits). Property must be the buyer's primary residence located in the Estes Valley. Mandatory pre-purchase counseling. EPHA records a deferred junior lien with no shared appreciation. Buyers must contribute at least 1% of purchase price from their own funds.

The program excludes

  • Manufactured homes
  • Households above 150% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program limits household income to 150% of the area median income, which varies by county and household size.

  • Households between approximately 80% AMI ($63,680 1-person) and 150% AMI (capped at $225,000 for larger households) per Larimer County HUD income limits. EVWHA is a workforce-housing program intended for moderate-to-upper-moderate-income local workers.
  • 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?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program caps the purchase price as follows: No published cap; purchase price must be supported by appraisal and the first-mortgage product.

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

Where does it apply?

Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program serves buyers purchasing in Estes Park, Colorado.

  • The program targets specific areas: Estes Valley Planning Area only — Town of Estes Park and immediately surrounding unincorporated Larimer County (and small portions of Boulder County) within the Estes Valley.

How do you apply?

Applications for Estes Valley Workforce Housing Assistance (EVWHA) Down Payment Loan Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Required pre-purchase counseling through Larimer Home Ownership Program (LHOP) or another HUD-approved provider.

  2. Contact the administering agency to reserve funds

    Funds are reserved through Direct application to Estes Park Housing Authority, and are subject to availability.

  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.

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